The facility provides customers with the option to convert purchases made on their credit card into smaller instalment payments. With Scotia SelectPay, Scotiabank customers can shop in person or online and then choose to turn their credit card purchases of USD 100 or more into 3, 6 or 12-month fixed instalment payments, while still earning rewards and insurance coverage on their purchases.
Customers can convert eligible purchases to a Scotia SelectPay plan using their Scotia mobile banking app or online within seconds. No additional credit checks or credit applications are required because the plans are a feature of the credit card. Scotia SelectPay plan options, including payment and fee amounts, are displayed prior to selecting a plan to help customers make informed decisions that align to their overall financial needs. Plan details are included in customers' credit card statements and plans can be cancelled at any time without additional fees or penalties.
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