This is the card I'd point a small business toward when it wants a business card with no fee and no rules to learn. It pays 1% on everything with no cap, employee cards are free, and cash back can be pulled out any time once you have $25.
What I'd weigh is that 1% flat is the floor, not the ceiling. If your business spends a few thousand dollars a year on gas, restaurants, office supplies and recurring bills, the $79 Momentum for business pays 3% in those categories and covers its fee quickly.
Welcome offer
Scotiabank is offering 10% cash back on up to $1,500 in purchases for your first 3 months, for accounts opened between August 17, 2026 and February 28, 2027 (verified on the Scotiabank page on October 15, 2026). That works out to up to $150: your regular 1% ($15) plus a 9% top-up ($135).
The regular cash back posts on the normal schedule, while the top-up is credited within about 7 months of account opening if the account is open and in good standing. Anyone who was a primary or secondary cardholder on a Scotiabank business credit card in the past 2 years, including through a product switch, is not eligible, though personal Scotia cardholders are.
$1,500 in 3 months is $500 a month, which most businesses clear with ordinary expenses. Spending past $1,500 earns nothing extra in the promo, so there is no reason to move purchases onto the card early.
Fees & eligibility
There is no annual fee, for the primary card or for any additional card, including co-borrowers and employee cards. Scotiabank does not print a minimum income or business revenue requirement, and the minimum credit limit is $5,000.
Purchases carry a 21.99% interest rate and cash advances and balance transfers 23.99%, one point higher than the $79 Momentum for business, rising to 26.99% and 28.99% after two missed payments in 12 months. Foreign currency purchases carry a 2.5% conversion fee. You are liable for all charges on the account, including those made on employee cards.
Earning rewards
Earning is one line: 1% cash back on every eligible business purchase, with no annual limit. There are no categories to track and nothing to activate.
That simplicity is the trade-off. Other no-fee business cards pay more in a few categories but drop lower on everything else (BMO's CashBack Business earns 0.75% base and TD's Business Cash Back 0.5%), so a flat 1% works best for a business whose spending does not cluster in gas, office supplies or telecom.
Redeeming rewards
Cash back is worth exactly what it says. Once you have $25 or more, you can redeem any time in the Scotia app or online banking, as a statement credit or a deposit into an eligible Scotiabank account, with no annual limit. Joint accounts can only deposit into joint bank accounts, and a sole borrower only into a sole account.
Cash back does not expire while the account is open, and you have 90 days to redeem after closing it. Welcome bonus cash back becomes redeemable after the promotional period ends.
Perks & benefits
Link the card to a Shell Go+ account for up to 6 cents per litre in value at Shell: a 3-cent instant discount, 1% cash back, and Scene+ points on premium fuel. You also get up to 25% off base rates at participating Avis and Budget locations in Canada and the U.S.
Visa Spend Clarity for Business lets you track spending by card and merchant, attach receipts and export to accounting software, and Visa SavingsEdge adds merchant discounts. Scotia SelectPay turns purchases of $100 or more into fixed instalments. There is no lounge access and no travel credit.
Insurance
The headline cover is mobile device insurance: a phone or tablet bought in full on the card, or financed with every monthly wireless bill charged to it, is covered up to $1,000 per occurrence against loss, theft or accidental damage for 2 years from purchase. Payouts are based on the device's depreciated value (2% for each month since purchase) less a deductible of $25 to $100, and you are limited to one claim in 12 months and two in 48 months across all your Scotiabank cards.
Purchases are also covered for 90 days against theft, loss or damage, and manufacturer warranties are doubled by up to one extra year, under a $60,000 lifetime maximum shared across your Scotiabank cards. There is no travel insurance of any kind: no medical, no trip cancellation and no rental car coverage.
My take
I'd get this card for a small business that wants free employee cards and a flat 1% with no thinking; I'd skip it if your spending leans on gas, meals and recurring bills, where the $79 version pays three times as much.
A flat, uncapped 1% with free employee cards is a clean default, and the mobile device insurance is a useful extra for a business that buys its own phones. The welcome offer is modest at up to $150, but the window runs to February 28, 2027 and the spending target is low.
The weak spots are the rates and the coverage. Interest is a point higher than the $79 sibling, foreign purchases cost 2.5%, and there is no travel or rental car insurance at all. If you can put $4,000 a year through gas, restaurants, office supplies and bills, I'd pay the $79 for the Momentum for business instead.
The good
- No annual fee, including employee cards
- Flat 1% cash back with no cap
- Mobile device insurance up to $1,000
The catch
- 1% is low next to category cards
- No travel or rental car insurance
- 2.5% foreign transaction fee and 21.99% purchase rate