Updated September 28, 2026 · VaultCue Editorial Team
Scotiabank Uruguay Cuenta Digital vs Step
Scotiabank Uruguay Cuenta Digital
Step
Higher score in this comparison
What sets them apart
| Compare | Scotiabank Uruguay Cuenta DigitalReviewSee alternativesSee alternatives | StepReviewSee alternativesSee alternatives |
|---|---|---|
| Monthly fee | UYU 0 | $0 |
| Transfer fee | 2 cost-free transfers per month up to USD 10.000 or UYU 300.000, then UYU 10 per transfer (Scotiabank to Scotiabank unlimited and free) | Small fee for Instant Transfer to a linked debit card |
| Deposit protection | Not confirmed | FDIC up to USD 250,000 |
| Currencies | 2 | Not confirmed |
| Local account details | Not confirmed | Us ACH |
| Free ATM withdrawals | UYU 5 | Not confirmed |
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Key differences
- Step scores higher overall: 8.8 vs 8.7.
- Founded is lower at Scotiabank Uruguay Cuenta Digital: 2011 vs 2020.
- Support channels: only Step offers Chat.
- Features: only Scotiabank Uruguay Cuenta Digital offers Digital only.
Our verdict on each
Scotiabank Uruguay Cuenta Digital
Scotiabank Uruguay Cuenta Digital suits anyone in Uruguay who wants a savings account run entirely from the app and pays nothing to keep it open. The catch is reach: it holds 2 currencies and needs a minimum deposit of UYU 5,000 to open, so it is a local tool rather than a global one.
Step
Step suits teens and students in the US who want a free everyday account and easy access savings, with an overall score of 6.3. Costs sit at $0 a month and savings run at 3% variable, but that rate waits on a status earned by card spending or qualifying direct deposits.
Score breakdown
| Area | Scotiabank Uruguay Cuenta Digital | Step |
|---|---|---|
| Cost | Not confirmed | 9.3Monthly fee of $0 on a no monthly fee model, with free atm for ATM withdrawals. |
| Offer | 8.8No monthly charge of UYU 0, but only 2 currencies and a minimum opening deposit of UYU 5,000 | 9.4Higher |
| Trust | 8.6Higher | 8.1 |
How they place
| Ranking | Scotiabank Uruguay Cuenta Digital | Step |
|---|---|---|
| Savings accounts | 536 of 1420 | 490 of 1420 |
Every fact side by side
| Fact | Scotiabank Uruguay Cuenta Digital | Step |
|---|---|---|
| Audience | Not confirmed | Teen |
| Pricing model | No monthly fee | No monthly fee |
| Features | Free ATM, Digital onlyCovers more | Free ATM |
| Legal entity | Scotiabank Uruguay S.A. | Step Financial LLC |
| Headquarters | Uruguay | United States |
| Founded | 2011Lower | 2020 |
| Support channels | Phone, Help centre, Email | Chat, Email, Phone, Help centreCovers more |
Savings
| Fact | Scotiabank Uruguay Cuenta Digital | Step |
|---|---|---|
| Headline rate | Not confirmed | 3% |
| Rate type | Variable | Variable |
| Minimum deposit | UYU 5,000 | $0 |
| Access terms | Bimonetary savings account in pesos and USD, managed 100% through digital channels, on-demand deposits and withdrawals; 5 free Banred ATM withdrawals and 2 free transfers (up to USD 10,000 or $300,000) per month | No savings minimums; 3.00% on savings requires Step Black status, earned by spending $500 with the Step Card or $300 in qualifying direct deposits each calendar month |
| Account kind | Easy access | Easy access |
Where each stands against the rest
| Fact | Scotiabank Uruguay Cuenta Digital | Step | Median |
|---|---|---|---|
| Currencies | 2lowest quarter | Not confirmed | 5 |
Median across 536 listed accounts.
Pros and cons
Scotiabank Uruguay Cuenta Digital
Pros
- No monthly maintenance charge on the account
- Runs entirely through digital channels, with deposits and withdrawals on demand
- Free ATM withdrawals up to an allowance of UYU 5 a month
Cons
- Only 2 currencies are held, so travel money beyond pesos and USD means another provider
- Transfers outside the free monthly allowance are charged per transfer, and only Scotiabank to Scotiabank transfers stay free
- A minimum deposit of UYU 5,000 is needed to open the account
Step
Pros
- Monthly fee of $0 on a no monthly fee account
- Savings rate of 3% variable with a minimum deposit of $0
- free atm means no ATM charge when you need cash
Cons
- The full savings rate is tied to a status earned by card spending or qualifying direct deposits, so an inactive month earns less
- Small fee for Instant Transfer to a linked debit card for an Instant Transfer to a linked debit card
Who each suits
Scotiabank Uruguay Cuenta Digital
Who it suits
- Uruguay residents paid in pesos who also earn or hold dollars
- People who bank by phone and do not want branch visits
- Savings customers content with a variable rate that moves with the bank
Who should look elsewhere
- Travellers holding more than 2 currencies, where Skrill or PayPal Colombia cover more currencies
- Anyone unwilling to meet the minimum deposit of UYU 5,000
- Users who want a fixed-rate term, since the rate is variable
Step
Who it suits
- Teens in the US building their first account
- Students who keep a direct deposit in place to keep the better savings rate
Who should look elsewhere
- bunq and bunq Spain Bank Account, where a euro account serves a euro market rather than a US teen account
- Pixpay FR, which charges a monthly fee of €3.99
Current offers
Step
Current offer
Bonus
Cashback on Step Card purchases with Step Black: Up to 10% cashback on purchases with select Step Black Partners, and unlimited 1% cashback on everything else
Requires Step Black enrollment; Step Black is an earned status available at no cost and full status is earned by meeting qualifying activity thresholds each month
Source, checked September 26, 2026
Bonus
Step savings reward: 3.00% on your savings balance (cash rewards, not interest)
Step Black is an earned status available at no cost; full status is earned by meeting qualifying activity thresholds each month; percentage is variable and may change
Source, checked September 26, 2026
Country by country
| Country | Scotiabank Uruguay Cuenta Digital | Step |
|---|---|---|
| United States | No | Yes |
| Uruguay | Yes | No |
Questions about each
Scotiabank Uruguay Cuenta Digital
Does the Cuenta Digital charge a monthly fee?+
No. The monthly fee is UYU 0, so the account costs nothing to keep open. Costs come from spending beyond the free allowances, mostly transfers and extra ATM withdrawals. Scotiabank to Scotiabank transfers stay free.
What can I hold in the account?+
The account is bimonetary, holding pesos and US dollars, which is 2 currencies in total. Anything beyond those two means a separate provider. Providers such as Skrill hold many more currencies for the same kind of task.
Step
How much does a Step account cost each month?+
The monthly fee is $0 and the account follows a no monthly fee model, so there is nothing to pay simply for holding it. Cash handling is covered by free atm, so withdrawing at an ATM costs nothing either. The one charge to watch is Small fee for Instant Transfer to a linked debit card to a linked debit card.
What interest do I get on savings?+
The headline savings rate is 3% and it is variable, so it can move rather than being locked. The minimum deposit is $0, which means you can start small. Savings are easy access, so you can take money out without giving up a fixed term.
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Related by the facts
Scotiabank Uruguay Cuenta Digital
Step