Scotiabank Exchange Rates and International Transfers Review
Scotiabank's digital international transfer can cost C$1.99 depending on the account. Its quoted rate includes a markup, and other banks may deduct charges.
Overview
Scotiabank Canadian personal customers can send an international money transfer through online or mobile banking. The bank's current fee schedule lists C$1.99 per transfer, depending on the account.
The fixed fee is only one part of the cost. Scotiabank's transfer agreement says its exchange rate includes a markup that can vary without notice, while intermediary or recipient banks can impose their own deductions.
Scotiabank also offers international wire services and receives foreign wires. Those products have different fees and should not be confused with the lower-cost digital transfer service.
Compare Scotiabank exchange rates
Use the live comparison below to compare Scotiabank with other available services for your transfer.
Best For
- Existing Canadian Scotiabank customers sending through the app or online banking.
- Customers sending to a supported country and bank account.
- Customers who want the transfer integrated with their everyday bank account.
- Holders of an eligible Scotiabank card with no issuer foreign-currency conversion fee.
It is less suitable when a customer needs a transparent mid-market comparison or the recipient route is not supported.
Pros and Cons
Pros
- Low published digital transfer fee of C$1.99 on applicable accounts.
- Online and mobile initiation for eligible customers.
- The exchange rate and transfer details are shown before confirmation.
- Several Scotiabank card products waive the bank's foreign-currency conversion fee.
Cons
- The quoted transfer rate includes a variable Scotiabank markup.
- Correspondent and recipient-bank fees can reduce delivery.
- Scotiabank says international transfers normally take about five business days.
- Incoming international wires normally cost C$15 in the account currency.
- A no-foreign-fee card still uses the applicable card-network exchange rate.
Fees Summary
| Service | Current published position |
|---|---|
| Digital international transfer | C$1.99 per transfer, depending on account |
| Incoming international wire | C$15 or US$15, charged in the account currency |
| Exchange rate | Scotiabank rate with a variable markup |
| Other-bank charges | May be deducted by intermediaries or the recipient bank |
Branch wires, business transfers and account packages can use different pricing. Review the quote and account fee schedule for the actual transaction.
Exchange Rates and Cards Abroad
Scotiabank states that its transfer rate includes a markup. Rather than relying on a general estimate, compare the exact recipient amount with another provider for the same amount and route.
Selected Scotiabank credit cards advertise no foreign-currency conversion fee. That waiver removes Scotiabank's additional fee; it does not turn the Visa or American Express conversion rate into the mid-market rate. Other card products may add a foreign-currency fee.
For a separately disclosed mid-market conversion, travellers can compare the Wise debit card. Wise eligibility and fees vary by country and transaction.
Speed
Scotiabank's personal International Money Transfer agreement says the recipient will normally receive funds within about five business days. Delivery can take longer because of compliance review, bank holidays, intermediary routing or recipient-bank processing.
Do not promise an urgent delivery until the specific quote provides an estimate for the destination.
Safety and Cancellation
International payments can be difficult to recover after processing. Check recipient names, account details and bank identifiers before confirming, and independently verify any changed instructions.
Scotiabank can delay or decline a transaction for legal, security or operational reasons. Its agreement also limits availability by destination and recipient bank.
Verdict
Scotiabank's C$1.99 digital transfer fee is straightforward, but it is not the complete price. The exchange-rate markup and possible third-party charges determine how much the recipient actually receives.
Existing customers may value the integrated app experience. Customers focused on cost should compare the final recipient amount, not just the fixed fee.
Frequently Asked Questions
How much is a Scotiabank international transfer?
Scotiabank currently lists C$1.99 per digital transfer depending on the account. The exchange-rate markup and other-bank charges are additional possible costs.
How long does it take?
Scotiabank says the recipient will normally receive the payment within about five business days.
Does Scotiabank have no-foreign-fee cards?
Yes, selected products waive Scotiabank's foreign-currency conversion fee. The transaction still uses the applicable card-network exchange rate.
Methodology and Sources
This Canadian review was checked against current official Scotiabank fee, transfer and card information on 15 July 2026. Products and pricing can change.
Primary sources:
- Scotiabank International Money Transfer agreement
- Scotiabank rates and prices
- Scotiabank personal account fees
- Scotiabank credit-card foreign-currency fees
Affiliate Disclosure
BestExchangeRates may receive compensation from some services displayed in comparison results. This does not change the rate or fee charged to you. Scotiabank is included for comparison and is not represented as an affiliate partner in this review.
Disclaimer: Please note any provider recommendations, currency forecasts or any opinions of our authors should not be taken as a reference to buy or sell any financial product.