Students banking on Scotiabank at Carleton University will have to find alternatives before the fall semester begins.
Carleton’s Paterson Hall Scotiabank branch is set to close in early August, Scotiabank confirmed.
“After careful consideration, we made the difficult decision to close our Carleton University branch on August 5, 2025 and relocate our in-person services to our branch at 1145 Bank St.,” Scotiabank told the Charlatan in an emailed statement.
The 1145 Bank St. branch is about a half-hour walk from the previous location.
The automated bank machine outside Carleton’s branch will also be removed at 8 a.m. on Aug. 5 and relocated to 1145 Bank St., according to signs posted at the machine.
“With preferences changing, and more day-to-day banking being done digitally, we are continuing to evolve how we serve our clients and invest in areas that make it easier for them to bank with us from wherever they are,” Scotiabank added.
Carleton is “exploring other options for banking on campus, which could include ATMs,” according to a May graduate students newsletter.
Carleton did not respond to multiple requests for comment about what specific banking options are being explored or to questions about whether the university communicated the branch closure to other Carleton community members.
The closure follows previous cutbacks at Carleton’s Scotiabank branch. The location transitioned to “advice services only” in March, axing over-the-counter teller options. The automated bank machine replaced services like depositing cheques and cash.
Scotiabank did not respond to questions about why the branch struck over-the-counter teller options.
With Scotiabank Paterson Hall operations soon to be eliminated, Carleton students say they are disappointed to lose “convenient” on-campus banking.
“The only reason why I have Scotiabank is because it’s at Carleton, and it was way more convenient for me,” said fifth-year economics student LeBron Mave.
Mave estimates that he visited the Carleton branch twice a week during the academic year.
“I want a bank at my fingertips when I’m on campus,” he added.
Scotiabank’s on-campus services were particularly helpful for student clubs, said Kate Ellis, a communications PhD student and the 2024-2025 president of Carleton’s Communication Graduate Caucus.
Ellis said they relied on the branch for club-specific needs, like passing along banking signatory authorities to new club leaders every year.
“We have always used the Carleton Scotiabank to do that because they specifically have folks who know how that works,” Ellis said. “I’m worried about the capacity for another branch to be able to also help out all of the student clubs on our campus with their finances.
“I think it’s important for Carleton to find an alternative that meets student needs.”
Featured image by Alexa MacKie/the Charlatan
