Scotiabank Duplicative NSF Fees Class Action
The Settlement Agreement was approved by the Ontario Superior Court of Justice on June 12, 2026. A copy of the Settlement Agreement and the Court’s approval decision can be found in the Documents section.
The class covered by this Settlement Agreement includes: Every individual resident in Canada who is or was a personal deposit account holder with The Bank of Nova Scotia and whose personal deposit account was charged a non-sufficient funds fee by The Bank of Nova Scotia on a re-presented pre-authorized debit transaction between June 21, 2020 and April 30, 2024.
Eligible class members includes all Class Members:
(1) who are Canadian residents;
(2) who are living BNS personal deposit account holders;
(3) whose BNS accounts were still open and able to accept deposits as of the distribution date; and
(4) who between, June 21, 2020 and April 30, 2024, were charged a $48 NSF Fee on a PAD between 2 to 30 days after being charged a previous $48 NSF Fee as a result of a PAD from the same merchant, with the same dollar amount, bearing the same transaction code, and bearing the same transaction description or a generic transaction description.
You will not be an Eligible Class Member if, according to BNS’s records, you appear to have already been reimbursed for the NSF Fee or if it appears the NSF Fee was not charged on a re-presented PAD.
On or around July 13, 2026, all eligible class members received a notice directly from Scotiabank through BNS’s Message Centre on Scotia Online and “My Updates” on BNS’s mobile application advising them that the Settlement Agreement has been approved and that they are eligible to receive approximately $42.82 in compensation.
The settlement distribution to eligible class members has now been completed by Scotiabank. If you are an eligible class member, as defined above, you would have received a direct deposit of approximately $42.82 into your BNS bank account.
For further information, please contact us at scotiabankclassaction@kmlaw.ca.
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Latest Developments
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June 12, 2026
The Ontario Superior Court of Justice has approved a $10,450,000 settlement in this class action related to BNS’s allegedly improper charging of NSF fees. More information, including who is eligible for compensation from the settlement, will be provided in the coming weeks.
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March 2, 2026
Koskie Minsky LLP is pleased to announce that it has reached a proposed $10.45 million settlement with Scotiabank. The proposed settlement must be approved by the Court before compensation is made available.
If the settlement is approved, a pro rata amount estimated to be approximately $40 will be delivered to every current customer who Scotiabank’s records show may have been charged an NSF fee on a pre-authorized debit (“PAD“) transaction from the same merchant and in the same amount as a previous PAD transaction within 2 and 30 days and with respect to which an NSF fee was charged (a “Second NSF Fee”), between June 21, 2020 and April 30, 2024.
For further information about your rights, options and whether you may be eligible, please read the Long Form Notice, which is available in English and French, and can be found in our Documents section here. If the settlement is approved by the Court, further details will be provided on this website.
If you would like to receive updates by email, please contact: scotiabankclassaction@kmlaw.ca.
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July 26, 2022
Justice Akbarali has been assigned to case manage this action.
- June 21, 2022
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June 12, 2026
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News Releases and Reports
- March 5, 2026 Canaan Alexander v. The Bank of Nova Scotia (English)
- March 5, 2026 Canaan Alexander v. The Bank of Nova Scotia (Français)
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Documents
- July 14, 2026 Settlement Agreement
- July 14, 2026 Notice of Settlement Approval Order - Long Form - French
- July 14, 2026 Notice of Settlement Approval Order - Short Form - French
- July 14, 2026 Notice of Settlement Approval Order - Long Form - English
- July 14, 2026 Notice of Settlement Approval Order - Short Form - English
- June 12, 2026 Settlement Approval Order
- January 30, 2026 Notice Approval Order
- January 21, 2026 Settlement Agreement
- June 21, 2022 Statement of Claim
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FAQS
What is a class action?
A class action is a lawsuit which provides a method for a large group of people with common claims to join together to advance one large claim. Class actions are a more efficient and cost-effective way for groups of people with common claims to gain access to the legal system and seek justice.
What does certification mean?
In order for an action to proceed as a class action, the court must determine whether it is appropriate for the case to be treated as a class action. Some of the factors the courts consider are the extent to which the claims of the class members are common, and whether a class action is preferable to other methods (such as individual actions) of advancing the issues. The decision as to whether a class action should be certified takes place at a certification hearing and is decided by a judge. If certified, a representative plaintiff will advance the action on behalf of all of the class members.
How do I know if I am a Class Member?
The certification order will always contain a description of who is a class member. We post the certification orders in our actions so that you can review them. You do not need to “sign up” to become involved in a class action. If you are included in the class description, you are automatically a class member who will be affected by the outcome of the class action unless you decide to “opt out”.
Are Class Members notified of the certification of the class proceeding?
Yes. After the claim has been certified, the court will authorize notice to be given to the members of the class.
Can I opt out of a class action and pursue independent legal action?
Yes. When a class action is certified, class members are always given an opportunity to opt out of the action. A deadline is imposed for opting out. If you do not opt out by the given deadline, class members will be bound by the outcome of the class action, whether it is successful or unsuccessful. If you opt out, you will not receive any benefit if the action is successful.
Will there be any cost to class members for legal fees?
Typically, class actions are handled on a contingency fee basis, which means that the class action lawyers will be paid only if the class action is successful at trial or settled. In that case, class counsel fees may be paid by the defendants or out of the settlement or judgment proceeds as approved by the court. In addition, the plaintiff may seek funding assistance from the Class Proceeding Fund which, if funding is granted, may provide funding for disbursements.
I still have questions…
Please feel to contact us by using the contact information on this site.
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Contacts
Toll-Free: 1-833-786-0009
