Scotiabank review
3.4Est. 1832
Scotiabank offers international money transfers for Canadian account holders. Strong Caribbean and Latin American presence but expensive for regular transfers.
Countries
130+
Currencies
30+
Speed
2-5 business days
Fees
CAD $15-$30 per wire transfer
Scotiabank overview
Founded in 1832 and based in Toronto, Canada, Scotiabank is a high-street bank. Scotiabank's regulators: OSFI (Canada), FINTRAC.
Pros
- Strong in Caribbean & Latin America
- Send from existing Scotiabank account
- Scotia Globe & Mail partnership for FX
Cons
- High wire fees (CAD $15-$30)
- Exchange rate markup 2-3%
- Slower than fintech providers
Scotiabank features
Online banking
Scotia International Money Transfer
Branch network
Scotiabank transfer details
HeadquartersToronto, Canada
RegulatedYes
RegulatorsOSFI (Canada), FINTRAC
Min Transfer$1
Max Transfer$50,000
Payment MethodsBank Transfer
Delivery MethodsBank Deposit
Exchange Rate Markup2% - 3% above mid-market
Published by Scotiabank. Not measured by us; Scotiabank’s limits and methods vary by country.
Compare Scotiabank
Scotiabank head-to-heads
Scotiabank vs Wise→Scotiabank vs Remitly→Scotiabank vs OFX→Scotiabank vs XE Money Transfer→
Ready to send with Scotiabank?
Price Scotiabank on your own route first.
Comparisons
- Scotiabank vs Wise
- Scotiabank vs Remitly
- Scotiabank vs OFX
- Scotiabank vs XE Money Transfer