Scotiabank to Charge for Previously Free ACH Transfers Effective June 1

Scotiabank has indicated that shifts in the operating landscape are behind a newly introduced charge that will affect certain electronic transfers, signalling a change in how the service is delivered to its customers.

The bank informed account holders via email on Tuesday that, following a review of its existing fee structure, it will begin applying a cost to outgoing Automated Clearing House (ACH) transactions.

The adjustment represents a departure from the previous arrangement where no fee was attached to this service.

An ACH transfer refers to a system that facilitates the electronic movement of funds between financial institutions.

These transactions are commonly used for transferring money across banks and are processed within a timeframe that can extend up to 24 hours before funds appear in the recipient’s account.

Under the revised structure, customers initiating outgoing ACH payments will be charged $19.55 per transaction.

This new rate is scheduled to take effect on June 1, 2026.

The financial institution explained that the decision to implement the charge follows an internal assessment of its pricing model, with the changes reflecting broader conditions affecting its operations.

Prior to this development, customers were able to utilise the ACH transfer service without incurring any cost, making the upcoming adjustment a notable shift in the bank’s approach to electronic payment services.

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