BER Benchmark: Scotiabank CAD FX Rates & Margins
BER Benchmark monitors Scotiabank exchange rates across the CAD currency corridors tracked by BER. The current average margin versus the mid-market rate is 3.9%.
This average is based on the CAD 10,000 transfer rates currently monitored by BER across the available Scotiabank currency corridors.
Scotiabank - Lowest and Highest FX Margins
BER Benchmark ranks the Scotiabank currency corridors currently monitored for Canadian dollar transfers by their margin versus the mid-market rate. The tables below highlight the lowest-margin and highest-margin corridors for a CAD 10,000 transaction.
Scotiabank wires and cards abroad
Scotiabank currently lists C$15 or US$15 for most incoming international wires, charged in the account currency. Outgoing wires and business transfers use different pricing from the personal digital transfer service.
Selected Scotiabank credit cards waive Scotiabank's foreign-currency conversion fee. The purchase still uses the applicable card-network exchange rate, which is not guaranteed to equal the mid-market rate.
International transfers may be delayed by compliance checks, intermediaries, holidays or recipient-bank processing. Verify recipient details before sending because recovery is not guaranteed.
What is the
Scotiabank Send Money conversion rate for CAD to GBP?
The Scotiabank CAD to GBP exchange rate is 0.5143. This is -3.3% compared to the latest CAD-GBP mid-market rate 0.5318.
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 British pound (GBP) rates from different sources before making a conversion.
The above Scotiabank - Loonie to Sterling 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-GBP mid-rate and the possible savings of using various providers.
How do Scotiabank CAD-GBP rates compare between providers?
Looking at the full CAD to GBP - Send Money comparison table the provider with the best CAD to GBP exchange rate is OFX at 0.5291, -0.51% from the latest mid-market rate 0.5318.
The next best is XE at 0.5286, -0.6% from the mid-rate.
Then Wise at 0.5282, which is -0.68% from the mid-rate.
The Western Union rate is 0.5238 which is -1.5% from the mid-rate.
Among the banks the TD Bank rate is 0.5132 at -3.5% the Scotiabank rate is 0.5143 at -3.3% and the Royal Bank of Canada rate is 0.5156 at -3% compared to the mid-rate 0.5318.
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.