Understanding the Table:
The comparison table above helps you see the total cost of your Scotiabank currency transaction by showing the exchange rates offered by different providers. It also makes it easy to spot potential savings from market-leading FX services compared to bank rates.
To see a full list of available providers, simply enter your transaction type, details and click ‘GET RATES’.
Based on 23 currency pairs
The tables below show the best and worst exchange rate margins offered by Scotiabank for Canadian dollar (CAD 10K) transactions. Margins show the percentage difference from the mid-market rate.
| Send money internationally as a direct deposit to your family or friends using your mobile app or online banking |
$1.99*/transfer on select accounts |
| Each automatic pre-arranged transfer of funds between your Scotiabank personal Canadian Dollar deposit account (debit transaction fee applies) | Free |
| Each manually processed pre-arranged transfer of funds between your Scotiabank personal deposit accounts (debit transaction fee applies where applicable) | $1.50 |
| Each transfer by branch staff between your Scotiabank personal deposit account due to telephone/fax/mail request, or to cover cheques (debit transaction fee applies) | $4.50 (optional Advice $5.00) |
| Transferring a Scotiabank account balance to another financial institution | $20.00 |
| Incoming Wire Transfer fees | |
| Incoming Wire Transfer identified as a Pension Payment in the payment message | $1.50 per transfer* |
| All other Incoming Wire Transfers | $15.00 CAD/USD per transfer* |
* All fees are charged in the currency of the account.
The Scotiabank FX Fees we use are based on publicly available information available here.
The Scotiabank CAD to ZAR exchange rate is 11.97. This is -2.9% compared to the latest CAD-ZAR mid-market rate 12.33.
As exchange rates can vary significantly between banks and also between currency exchange providers, it's therefore important to carefully compare Canadian dollar (CAD) to South African rand (ZAR) rates from different sources before making a conversion.
The above Scotiabank - Loonie to Rand comparison table makes it easy to compare the Total Fees (both variable and fixed) you are being charged by Scotiabank and other foreign exchange providers against the latest CAD-ZAR mid-rate and the possible savings of using various providers.
Looking at the full CAD to ZAR - Send Money comparison table the provider with the best CAD to ZAR exchange rate is OFX at 12.26, -0.57% from the latest mid-market rate 12.33.
The next best is XE at 12.25, -0.65% from the mid-rate.
Then Western Union at 12.2, which is -1.1% from the mid-rate.
Among the banks the TD Bank rate is 11.68 at -5.3% the Scotiabank rate is 11.97 at -2.9% and the Royal Bank of Canada rate is 11.66 at -5.4% compared to the mid-rate 12.33.
It's important to note that exchange rates also fluctuate frequently due to market conditions. Additionally, banks like Scotiabank often apply a margin to the exchange rate, resulting in a less favorable rate for customers compared to the mid-market rate. For more competitive rates, you might consider using a specialized currency exchange service or platforms that offer rates closer to the mid-market rate.
View a full list of exchange rates by selecting your Base (from) currency:
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