The replace applies to the Scotia Momentum Visa Infinite+ Card, Scotia Momentum Visa Card, Scotia Momentum Visa No-Charge Card, and Scotia Momentum for Enterprise Card.
Scotiabank advised MoneySense that, beginning October 22, 2026, the earn price on lease and tax funds will change from the accelerated recurring invoice cost earn price to the common buy earn price.
How will Scotia Momentum money again change?
The brand new charges taking impact in October for lease and tax funds are as follows:
Scotia Momentum Visa No-Charge Card: 0.5% (down from 1%)
Scotia Momentum Visa Card: 1% (down from 2%)
Scotia Momentum Visa Infinite+ Card: 1% (down from 4%)
Scotia Momentum for Enterprise Visa Card: 1% (down from 3%)
Apart from lease and tax, no classes might be impacted.
The financial institution confirmed that buyer messaging went stay on August 17, 2026. Discussions erupted on social media, however rumours in regards to the adjustments had been quietly brewing on-line days earlier than the official announcement, with many customers sharing that the hefty lease money again was their main cause to get their Scotia Momentum bank card.
“I’ll be instantly cancelling my card with them if that is so,” one person shared on the Chexy subreddit on August 14. “It’s the one cause why I acquired the Scotia Momentum Infinite card. Cancelling it if that is true,” added one other.
Chexy, like NeoBanc, TenantPay, and Casa, is a third-party cost platform that permits you to pay lease by way of a related bank card. It fees a 1.75% fee per transaction for the service. With a Scotia Momentum Visa Infinite+ card related for recurring lease and tax funds, many Canadians reap the benefits of the two.25% money again they’d get after the transaction price. The annual spending cap of as much as $25,000 can be beneficiant.
“This wasn’t surprising,” mentioned Rewards Canada creator Patrick Sojka in a telephone interview with MoneySense. For Chexy and different third-party cost apps that permit you to use bank cards the place you usually can’t use bank cards, “it was solely a matter of time earlier than some banks started curbing the recurring cost perks.”
These platforms’ reliance on the Scotia Momentum lineup and different comparable merchandise has left many questioning if they are going to introduce decreased charges to retain shoppers.
“They’re in all probability simply squeaking by as a result of they’re a startup,” mentioned Sojka. For context, Chexy launched in 2023, Neobanc in 2025, and Casa in 2026. “They will provide decrease charges proper now as a result of they’re utilizing all their enterprise capital or angel investing,” said Sojka, including that when that begins drying up, there could also be severe challenges in retailer for the model.
Chexy is just not as anxious, although.
“Chexy has grown effectively past one card or rewards program, with extra Canadians utilizing the platform throughout a rising vary of funds and rewards choices. No single card or rewards program defines the enterprise, and the Scotia Momentum card represents one possibility inside a wider ecosystem,” Chexy CEO and Co-Founder Liza Akhvledziani advised MoneySense. “Modifications to particular person card applications are a standard a part of the rewards panorama and don’t materially influence Chexy’s trajectory. “
Relating to the chaos going down on r/Chexy because the Scotia Momentum announcement, Akhvledziani mentioned the subreddit has been very energetic from day one.
“I actively learn our buyer’s suggestions and ideas. We stay centered on increasing the platform, constructing new partnerships and creating extra methods for Canadians to get worth from their largest recurring bills. We’ll be sharing some information quickly as we proceed to develop our choices,” she shared.
Ought to I store for Scotia Momentum bank card options?
Sojka famous that providers like Chexy and Neobanc started utilizing Scotia Momentum because the de facto instance of their advertising and marketing as a result of excessive money again price.
