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 details and click ‘Compare’.
| 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 USD to CAD exchange rate is 1.3275. This is -2.8% compared to the latest USD-CAD mid-market rate 1.3657.
As exchange rates can vary significantly between banks and also between currency exchange providers, it's therefore important to carefully compare US dollar (USD) to Canadian dollar (CAD) rates from different sources before making a conversion.
The above Scotiabank - Dollar to Loonie 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 USD-CAD mid-rate and the possible savings of using various providers.
Looking at the full comparison table the best USD to CAD exchange rate is 1.3589 from OFX, -0.5% from the mid-market rate 1.3657. The next best rate is 1.3575 from XE, -0.6% from the mid-rate. Then Wise with 1.3569 is -0.64% from the mid-rate.
The Western Union rate is 1.3521 which is -1% from the mid-rate.
Among the banks the Chase Bank rate is 1.2661 at -7.3% the Wells Fargo Bank rate is 1.2579 at -7.9% and the Citibank rate is 1.3207 at -3.3% compared to the mid-rate 1.3657.
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: