Scotiabank Wire Transfer

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Scotiabank Wire Transfer

Started in 2020, Scotiabank is a platform that offers international money transfer services. Available to customers who use online and mobile banking, it lets you send money abroad by visiting the website or going into a branch. You can use this platform to send money via bank wire transfers, international money transfers from your bank, or Western Union.

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How To Do a Wire Transfer With Scotiabank

If you do a transfer with Scotiabank, your money will go directly to your recipient's accounts; hence you need all their details. While what you need depends on where you are sending the money to, you essentially require;

  • The amount and currency

  • The name, address, and account number of the recipient

  • the money to, as written on the account

  • The name and address of the receiving bank

  • and the address of the bank you're sending money to

  • The recipient's IBAN for Europe and SWIFT code or routing number if you're sending money to the US

Western Union Transfers
Scotiabank allows you to make international transfers online through Western Union. You can either use the app or the Scotia Online service if you have an internet banking account. To send a Western Union money transfer, you need to select transfers and choose the option for cash pick-ups. Next, review the details and follow further instructions to transfer the money.
Scotiabank International Money Transfer

Scotiabank also provides a service known as Scotia International Money Transfer that allows you to make international transfers right from your computer. To send money, you need to;

  • Go to the accounts page and click transfers

  • Choose the option to send money internationally and go to bank deposits

  • Add the recipient's details and the accounts you want to transfer money

  • Confirm the details and complete the process

    Alternatively, you can also use Scotiabank's mobile app and follow the same steps to end the money.

Scotiabank WireTransfer Fees
To send money via online or to Scotiabank, you are required to pay CAD $1.99. Alongside these, there may be other fees charged by the receiver's bank, or an intermediary bank may charge a fee for completing the transaction. But if you have Ultimate Package with the bank, you don't need to pay any fees.
How Long Does Scotiabank Wire Transfer Take

While using Scotiabank, money transfers can take up to 5 business days,if you opt to transfer money via Western Union, you can expect the funds to reach the recipient within 4 hours. To avoid any transfer delays, you need to;

  • Send money in the morning or on weekdays

  • Send multiple transfers in small amounts.

  • Arrange for your recipient to pick up the money at a Western Union location for faster processing.

  • Use popular currencies to send the money.

Scotiabank Alternative-Remitbee
Launched in 2015, Remitbee is a money transfer service that specializes in transferring money internationally. Since the company doesn't charge any fees if you are using it for the first time, you can join and try it out for free. Compared to other services, it offers low fees and high exchange rates. However, the fees you'll be charged depends on how much money you send.

Other Available Wire Transfers

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