Scotiabank NSF Fee Settlement: Are you eligible to get $42.82?

Scotiabank has approved a $10.45 million class-action settlement over allegedly duplicate non-sufficient funds fees. The approved settlement is expected to pay about $42.82 directly to approximately 148,000 eligible customers.

If Scotiabank's records match your account and fee history to the settlement rules, you do not need to file a claim. The payment is automatic. Check Scotia Online's Message Centre or the My Updates area in the Scotiabank mobile app for your notice, then watch the eligible account for the direct deposit.

Scotiabank NSF settlement at a glance

• Settlement status: Approved by the Ontario Superior Court of Justice on June 12, 2026.
• Settlement fund: $10,450,000, before approved fees, expenses and administration costs.
• Estimated payment: Approximately $42.82 for each eligible customer, paid directly into the eligible Scotiabank account.
• Class period: June 21, 2020 to April 30, 2024.
• Claim form: None. Eligible customers do not need to apply or submit a form.

Who qualifies for the Scotiabank payment?

The settlement class includes individuals resident in Canada who are or were personal deposit account holders with The Bank of Nova Scotia and whose personal deposit account was charged an NSF fee on a re-presented pre-authorized debit transaction between June 21, 2020 and April 30, 2024.

The payment rules are narrower than that broad class definition. The settlement agreement says an eligible customer must be a Canadian resident, be a living BNS personal deposit account holder, and have an account that remained open and able to accept deposits as of the distribution date.

BNS records must also show that the customer was charged a $48 NSF fee on a pre-authorized debit between two and 30 days after an earlier $48 NSF fee on a PAD from the same merchant, for the same dollar amount and matching transaction details. The account must not already show that the fee was reimbursed.

What fees did the lawsuit challenge?

An NSF fee is charged when a payment cannot be processed because an account does not have enough available money. This case focused on a second attempt to process a pre-authorized debit, sometimes called a re-presented PAD, when the bank allegedly charged another NSF fee for the same merchant and amount within the class period.

The claim alleged that charging multiple NSF fees on the same payment violated Scotiabank's customer contracts. Scotiabank has not admitted liability and denies liability. The settlement resolves the disputed claims without a trial finding that the bank did anything wrong.

Do you need to file a claim?

No. This is a direct-distribution settlement. If BNS records identify you as an eligible class member, the net settlement funds will be deposited into your eligible BNS account without a claim form.

• Check your notice: Look in Scotia Online's Message Centre or the My Updates area of the Scotiabank mobile app.
• Check your account: The settlement payment is sent to the eligible BNS account that can accept the deposit.
• Keep your records: Save the notice and any account statement showing the deposit.
• Ask official counsel: For questions about the class or your rights, contact Koskie Minsky LLP using the details on its official case page.

How much will eligible Scotiabank customers receive?

The July 14 approval release says BNS will deposit approximately $42.82 directly into the bank accounts of approximately 148,000 eligible customers. That figure is an estimate, not a universal guaranteed amount. The gross $10.45 million settlement fund is reduced by court-approved legal fees, disbursements, administration expenses, applicable taxes and other permitted costs before the net fund is distributed.

The final payment is tied to BNS's records and the approved distribution protocol. A customer who paid other NSF fees, used a different type of account, or had a different transaction pattern should not assume that this settlement covers those charges.

What if you did not receive a notice?

First, check both Scotia Online and the Scotiabank mobile app, including the Message Centre and My Updates areas. The settlement is automatic, so there is no public claim form to complete. If you believe you match the eligibility rules but cannot find a notice or payment, use the official Koskie Minsky case page for the current contact information and settlement documents.

Do not send your Scotia password, SIN, debit-card PIN or full banking credentials to anyone offering to unlock a payment. Use only the official counsel contact details and your normal secure Scotiabank account channels.

Why was the case settled?

A settlement ends the disputed litigation without the time, cost and uncertainty of a trial. Scotiabank denies the allegations and has not admitted wrongdoing. The Ontario Superior Court approved the $10.45 million resolution on June 12, 2026, and the settlement now provides the approved process for distributing compensation to eligible customers.

Frequently asked questions

Is this payment available to every Scotiabank customer?

No. The payment is limited to eligible customers identified under the settlement rules. You must fit the Canadian-resident and BNS personal-account requirements, and BNS records must show the specific duplicate $48 NSF-fee pattern during the class period.

What if my Scotiabank account is closed?

The approved distribution rules require an eligible BNS personal deposit account that remains open and able to accept deposits as of the distribution date. If your account status is different and you believe you were charged the qualifying fees, contact class counsel through the official case page rather than assuming a payment route.

Does the 2026 $10 NSF-fee cap change this settlement?

No. The settlement concerns qualifying fees charged between June 21, 2020 and April 30, 2024. The federal $10 NSF-fee cap that took effect in March 2026 is a separate banking rule and does not change the historical class definition or distribution protocol.

Where can I read the official documents?

Start with the Koskie Minsky case page, which links to the settlement agreement and court approval materials. The July 14 Canada NewsWire release confirms the approved settlement amount and estimated direct payment.

Sources and image credit

• Koskie Minsky Scotiabank Duplicative NSF Fees Class Action
• Scotiabank settlement agreement and notices
• Canada NewsWire approval release
• 604 Now settlement summary
• Canooq Canadian class actions directory
• Hero photo: Frugal Flyer on Unsplash.

Legal information note

This article is general information, not legal or financial advice. The court-approved settlement agreement, distribution protocol, notices and class counsel's current information control eligibility, payment amounts, account requirements, releases and payment timing.