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 New Zealand dollar (NZD) rates from different sources before making a conversion.
The above
Scotiabank - Loonie to Kiwi 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-NZD mid-rate and the possible savings of using various providers.
How do Scotiabank CAD-NZD rates compare between providers?
Looking at the full
CAD to NZD - Send Money comparison table the provider with the best CAD to NZD exchange rate is OFX at 1.2101, -0.5% from the latest mid-market rate 1.2162.
The next best is XE at 1.2089, -0.6% from the mid-rate.
Then Wise at 1.2085, which is -0.63% from the mid-rate.
The Western Union rate is 1.1979 which is -1.5% from the mid-rate.
Among the banks the TD Bank rate is 1.1738 at -3.5% the Scotiabank rate is 1.1782 at -3.1% and the Royal Bank of Canada rate is 1.1864 at -2.5% compared to the mid-rate 1.2162.
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.
