Scotiabank - CAD Rate Margin Analysis
The average CAD rate margin offered by Scotiabank is 3.6%.
This average is based on individual CAD 10K transfer rates in the currency pairs from Scotiabank that we monitor.
Scotiabank - Best and Worst Value Rates
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.
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 USD?
The Scotiabank CAD to USD exchange rate is 0.6936. This is -2.3% compared to the latest CAD-USD mid-market rate 0.7101.
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 US dollar (USD) rates from different sources before making a conversion.
The above Scotiabank - Loonie to Dollar 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-USD mid-rate and the possible savings of using various providers.
How do Scotiabank CAD-USD rates compare between providers?
Looking at the full CAD to USD - Send Money comparison table the provider with the best CAD to USD exchange rate is OFX at 0.7065, -0.51% from the latest mid-market rate 0.7101.
The next best is XE at 0.7058, -0.61% from the mid-rate.
Then Wise at 0.7048, which is -0.75% from the mid-rate.
The Western Union rate is 0.6994 which is -1.5% from the mid-rate.
Among the banks the TD Bank rate is 0.6758 at -4.8% the Scotiabank rate is 0.6936 at -2.3% and the Royal Bank of Canada rate is 0.694 at -2.3% compared to the mid-rate 0.7101.
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.