Bank of Nova Scotia - iTRADE | Scotiabank | Discussion forum

It is odd you cannot get them to cancel the iTrade login card unless you still have a BNS bank account still in operation that uses that card as a debit/ATM card. That card, by the way, also allows one to have an iTrade practice account. Maybe that is the glitch?

It seems to be a common problem. I still get emails from RBC Direct Investing on new offerings such as IPOs even though I closed my RBC Direct Investing account at least 5 years ago.

Denise said
The guy said iTRADE did not issue the card so they cannot cancel it.  

So who was the issuing entity? In my case, my card was issued by iTrade and not BNS because my trading account was the successor to E*Trade Canada when Scotia bought out E*Trade. My BNS banking accounts came later and BNS tellers are still amused by my iTrade card which is also my bank/ATM card.

Does iTrade still have the $25.00 inactivity fee if you don't do a trade in a quarter?

This is the fine print of Scotia iTRADE's low activity admin fee from the commission fee schedule. There's now an exemption for accounts of those under age 26:

The Low Activity Account Administration Fee (“LAAA Fee”) is charged on a per account basis each calendar quarter. This fee will be assessed based on the client’s account balances, trading activity and age at the close of business on each of March 15, June 15, September 15 and December 15 of each year. The LAAA Fee will be waived;

i) for new clients who have opened their first account at Scotia iTRADE within the 6 preceding months,

ii) for client accounts where at least 1 commission-generating trade was executed in any one or more of client’s Scotia iTRADE accounts during the preceding 3 months,

iii) for Registered Plan accounts (RRSP, RIF, LIRA, LIF, RESP, TFSA),

iv) for Cash Optimizer Investment Accounts,

v) for clients with total account equity at Scotia iTRADE greater than $10,000,

vi) for accounts of clients who have achieved the age of majority but are under 26 years of age at any point during the year for which LAAA Fees are assessed and

vii) for Unclaimed Accounts,

provided that in each of (i), (ii), (iii), (iv), (v) and (vi), all accounts of the client are fully activated and the client has a valid and current mailing address on file with Scotia iTRADE. With respect to (vi), if applicable, the LAAA Fees will be charged for the year subsequent to the year during which the client turns 26 years of age. Commission-generating trades are buys and sells of: Equities, Options, Mutual Funds subject to commissions, and Fixed Income instruments. Buys and Sells of GICs, ETFs which do not generate a commission, Canada Savings Bonds and Provincial Savings Bonds, are examples of trades that do not generate commissions.