Effective March 11, Scotiabank customers will pay $1.25 for each online transfer to other local banks.
Scotiabank users were notified via its app.
In September, the bank retained its position as Trinidad and Tobago’s Best Digital Bank for the third consecutive year and the Best Mobile Banking App award.
The award was given by Global Finance, a financial magazine headquartered in New York.
Gayle Pazos, managing director of Scotiabank TT, said the company was delighted to be recognised for its digital leadership, saying it had come a long way and made significant investments in its digital transformation.
“We are really excited that the Scotia Caribbean app has been named the Best Mobile Banking App as well."
She said the bank will continue to offer innovative products and services and a customer-focused experience.
In December 2023, Scotiabank reported an after-tax profit of $678 million for the year ended October 31, 2023.
Pazos said she was pleased that the bank had once again delivered another year of solid financial results.
“This is the second successive year that we have posted net income before tax of over $1 billion, following a record-breaking performance in 2022."
Pazos called the bank's profitability year after year a testament to the confidence its customers placed in it, saying the bank continues to work on digital initiatives to address customers' changing needs.