The New Scotiabank(R) More Rewards(R)*Visa* Card Offers Customers up to 6x More Rewards(R)* Points

TORONTO, ON - April 08, 2016 /CNW/ - Today, Scotiabank and the Overwaitea Food Group announced that the two companies will jointly launch the Scotiabank® More Rewards®*Visa* card this spring. The new card will offer one of the country's richest credit card rewards programs from Western Canada's favourite loyalty program -- the More Rewards program from the Overwaitea Food Group.

The More Rewards loyalty program was created by the Overwaitea Food Group in 1992. With over 3 million active members, More Rewards provides customers with the opportunity to earn points by using their More Rewards loyalty card on everyday purchases. Points are easy to redeem for a variety of great rewards ranging from groceries to travel, kitchen appliances to camping equipment, hotel gift cards and more.

"The new Scotiabank More Rewards Visa card represents our first foray into the grocery industry with the Overwaitea Food Group and their More Rewards program," said Jennifer Douglas, Senior Vice President, Credit Cards at Scotiabank. "Scotiabank is a leading provider of rewards on both credit and debit cards in Canada and we are committed to offering our customers a wide array of rich rewards on their Scotiabank cards. Our collaboration with the Overwaitea Food Group is an opportunity to expand our credit card portfolio to reward Western Canadians that use our card where they shop most, including Save-On-Foods, Canada's largest Western-based grocery retail chain."

The new Scotiabank More Rewards Visa card will be available at Scotiabank branch locations, online1 and at all grocery stores accepting More Rewards, including Save-On-Foods, PriceSmart Foods, Overwaitea Foods, Cooper's Foods and Urban Fare stores.

"We are proud to work with Scotiabank to introduce the new Scotiabank More Rewards Visa card to Canadians," said Darrell Jones, President, the Overwaitea Food Group and Save-On-Foods. "We are continually looking for innovative ways to deliver more value for our customers. With the Scotiabank More Rewards Visa card in their wallet, More Rewards members can earn points more quickly and redeem points on the things that matter to them like travel, groceries and everyday reward items."

The new Scotiabank More Rewards Visa card enables customers to maximize their points by offering 6 More Rewards points per dollar spent on their card at Save-On-Foods and a growing number of other participating More Rewards partner locations, plus 4 More Rewards points on every dollar spent anywhere else they shop using their card. The card boasts no annual fee as well as no earnings or redemption caps on their More Rewards plus the ability to "double-dip" by using the More Rewards loyalty card and the Scotiabank More Rewards Visa card at the same time. Cardholders can also take advantage of frequent in-store bonus offers available under the More Rewards program. For a full list of participating More Rewards partners and redemption offers, please visit morerewards.ca. 

About Scotiabank
Scotiabank is Canada's international bank and a leading financial services provider in North America, Latin America, the Caribbean and Central America, and Asia-Pacific. We are dedicated to helping our 23 million customers become better off through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With a team of more than 89,000 employees and assets of $920 billion (as at January 31, 2016), Scotiabank trades on the Toronto (TSX: BNS) and New York Exchanges (NYSE: BNS). Scotiabank distributes the Bank's media releases using CNW. For more information, please visit www.scotiabank.com and follow us on Twitter @ScotiabankViews.

About the Overwaitea Food Group
The Overwaitea Food Group is the largest Western-based Canadian food store chain, serving more than 80 communities in BC and Alberta. The company has been in operation for 101 years, with its first store originally located in New Westminster, BC. The Overwaitea Food Group currently operates more than 150 stores under the Save-On-Foods, Overwaitea Foods, Cooper's Foods, Urban Fare, PriceSmart Foods, and Bulkley Valley Wholesale banners. With the support of more than 16,000 team members, the company proudly provides customers with great local value in unique and innovative ways; delivering world-class products, services, and an exceptional in-store experience, customized to suit the needs of each community they serve.

About More Rewards
The More Rewards loyalty program was created by the Overwaitea Food Group (OFG) in 1992. More Rewards provides customers with the opportunity to earn points by using their More Rewards card on everyday purchases. Points are easily redeemed for a variety of great rewards ranging from free groceries to gift cards and consumer goods. New to the program, members now enjoy booking travel without seat restrictions or minimum points balances at More Rewards Travel, giving members the choice of online booking or high-touch personal agent service at no added cost. 

1 Only currently available at Scotiabank branch locations outside the Province of Quebec