Scotiabank Prepaid Reloadable Visa Review

Scotiabank Prepaid Reloadable Visa Review

Written by Lisa Rennie
Fact-checked by Caitlin Wood
Last Updated June 7, 2022
Note: Scotiabank has discontinued both the Scotiabank Prepaid Reloadable card and the SCENE Prepaid Reloadable card. To Learn, click here.

Prepaid credit cards allow consumers to make both in-person and online purchases in much the same way a traditional credit card does. The Scotiabank Prepaid Reloadable Visa is a great example of the convenience and affordability of such credit cards. 

The Scotiabank Prepaid Reloadable Visa is perfectly suited for savvy consumers and shoppers who appreciate the convenience of a prepaid credit card without all the fees that are commonplace with the average credit card. It comes with low annual fees and allows for convenient mobile or online reloads.

Let’s take a closer look at the Scotiabank Prepaid Reloadable Visa and assess its perks and drawbacks before you decide if this is the prepaid credit card for you.

What Kind Of Prepaid Cards Does Scotiabank Offer? 

Scotiabank offers a Prepaid Reloadable Visa and a SCENE Prepaid Reloadable Visa, both of which allow Canadians to keep track of their spending using a mobile device or online account and only use the money that has been preloaded onto the card. Every time the credit card is used to make a purchase, you will immediately and automatically be alerted via email.

The cards can be used anywhere that accepts VISA, including both at brick-and-mortar retailers and online. Reloads are free, much like many other prepaid credit cards. 

Scotiabank Prepaid Reloadable Visa

The Scotiabank Prepaid Reloadable Visa comes with a very low annual fee of $10, which is a far cry from some of the charges that the average credit card comes with. This card is a great financial tool to have for those who are looking for a convenient way to make purchases while also limiting their spending. You’ll also have the advantage of being protected by Visa’s Zero Liability protection plan, much like you would with any other Visa credit card. 

SCENE Prepaid Reloadable Visa

With the SCENE Prepaid Reloadable Visa, you’ll get all the benefits of the Scotiabank Prepaid Reloadable Visa, plus the ability to earn SCENE points when you spend using your card. The points can then be used towards free movies and other rewards. 

You earn one SCENE point for every $5 that you spend, or one point for every $1 you spend on purchases you make with your SCENE Prepaid Reloadable Visa card at Cineplex. Rewards start at 500 points. When enough points are accumulated, SCENE members can cash in on rewards. 

You must be a SCENE member in order to use the SCENE Prepaid Card, which needs to be connected to your SCENE membership card to earn points. The points can be redeemed at Cineplex Entertainment theatres or at There is a maximum of 300 points per transaction and a maximum number of 600 points per day.

Pros And Cons Of Using The Scotiabank Prepaid Reloadable Visa


  • Funds on the card will not expire. That means you can use the funds you load onto your card months or years down the line (just make sure to keep the card active by using it within 36 months, otherwise it will be deemed inactive).
  • Affordable annual fee. At just $10 per year, this nominal fee is much less than what you might pay with a typical credit card.
  • Track your spending. Every time you make a purchase, you will be immediately notified, allowing you to keep tabs on every expenditure you make. 
  • Receive SCENE points with your SCENE prepaid Visa. With this card, you can be rewarded with every purchase you make by accumulating points that can be redeemed at Cineplex. 
  • Visa’s Zero Liability Protection. You’ll have the benefit of not being held accountable for any transactions that are made with your card without your authorization.


  • Cannot be used to withdraw money at an ATM or to make any financial payments at a bank. 
  •  If the card has been inactive for 36 months, a $3.50 fee will be charged every month until the balance is zero
  • Foreign exchange rate of 2.5% when purchases are made in a foreign currency. 

How Much Does It Cost To Open An Account With Scotiabank?

There is a $10 purchase fee that you will pay when you first buy the card. The fee will be deducted from your initial card loading, then will be deducted from your card balance every year starting on the anniversary of when you first bought the card. 

How Do You Open An Account With Scotiabank?

To get your hands on the Scotiabank Prepaid Reloadable Visa, there’s no need to fill out an application as would be standard with a traditional credit card. Just visit your local Scotiabank branch and load it with as little as $10 to start. You will need to have a bank account with Scotiabank in order to receive and use the Scotiabank Prepaid Reloadable Visa. 

There is no credit check required since the card is prepaid, and no interest rate charges apply. The new card will be active within one business day after purchase. 

You can reload your card from your bank account online or via mobile banking, making your funds available right away. You can also reload your card by making a bill payment, in which case the funds would be made available within 2 to 4 business days. 

Card Product Details Overview

Product FeatureScotiabank Prepaid Reloadable VisaSCENE Prepaid Reloadable Visa
Annual Account Fee$10$10
Foreign Transaction Fees2.5%2.5%
Cost Per Transaction$0$0
Replacement Card Fee$10$10
Card Inactivity Fee$3.50$3.50
Card Closure Fee$10$10
RewardsNoneEarn 1 SCENE point for every $5 spent,
or 1 point for every $1 spent on purchases made at Cineplex. 
Budgeting and TrackingPush notifications are sent whenever a purchase is madePush notifications are sent whenever a purchase is made
Card LimitsMaximum load:$1,000 per transaction per day.
$4,000 over 30 days.
Maximum card balance and purchase amount – $2,400.
Maximum load:$1,000 per transaction per day.
$4,000 over 30 days.
Maximum card balance and purchase amount – $2,400.

Is The Scotiabank Prepaid Reloadable Visa Card Right For You?

This prepaid credit card is right for you if you:

  • Do not have a credit card and are looking for a convenient way to make purchases, either in person or online
  • Are looking for a card to give to your kids without the responsibility that comes with using a traditional credit card
  • Are uneasy about providing your credit card information when making online purchases
  • Are looking for a way to better budget your finances and control your spending

Final Thoughts

The Scotiabank Prepaid Reloadable Visa provides a great way to make purchases without the need to pay with cash or get approved for a traditional credit card. It also offers a great way to keep tabs on your spending while also making online purchases without having to divulge personal credit card information. 

For those who like the convenience of a credit card without the fees and interest that come with a traditional credit card, the Scotiabank Prepaid Reloadable Visa may be a viable option. 

Lisa has been working as a personal finance writer for more than a decade, creating unique content that helps to educate Canadian consumers in the realms of real estate, mortgages, investing and financial health. For years, she held her real estate license in Toronto, Ontario before giving it up to pursue writing within this realm and related niches. Lisa is very serious about smart money management and helping others do the same.

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