Learn more about Scotiabank Foreign Exchange
Wire Transfer Send/Receive Fees
| 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.
What is the best Send Money conversion rate for GBP to USD?
The best GBP to USD exchange rate is 1.3159 from Wise. This is -0.47% compared to the mid-market rate 1.3221.
As exchange rates can vary significantly between banks and also between currency exchange providers, it's therefore important to carefully compare British pound (GBP) to US dollar (USD) rates from different sources before making a conversion.
The above Scotiabank - Sterling 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 GBP-USD mid-rate and the possible savings of using various providers.
How do Scotiabank GBP-USD rates compare between providers?
Looking at the full GBP to USD - Send Money comparison table the provider with the best GBP to USD exchange rate is Wise at 1.3159, -0.47% from the latest mid-market rate 1.3221.
The next best is OFX at 1.3154, -0.51% from the mid-rate.
Then XE at 1.3141, which is -0.61% from the mid-rate.
The Western Union rate is 1.3022 which is -1.5% from the mid-rate.
Among the banks the Lloyds Bank rate is 1.2664 at -4.2% the Royal Bank of Scotland rate is 1.2743 at -3.6% and the Barclays Bank rate is 1.26 at -4.7% compared to the mid-rate 1.3221.
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.
