Scotiabank Exchange Rates

Below you will find the mid-market foreign exchange rate for many popular currencies. Use KnightsbridgeFX’s comparison chart to evaluate the foreign exchange rates offered by other financial institutions against Scotiabank foreign exchange rates to ensure you are getting the best rate possible!

Bank Exchange Rates Markup % Source Potential Savings when buying $10,000 USD with KnightsbridgeFX.com
RBC – Royal Bank of Canada 2.60% RBC Exchange Rates $230
TD – Toronto Dominion Bank 2.64% TD Bank Exchange Rates $234
BMO – Bank of Montreal 2.65% BMO Exchange Rates $235
CIBC – CIBC Bank 3.34% CIBC Foreign Exchange Rates $304
Scotia – Scotia Bank 2.88% Scotia Bank Foreign Exchange Rates $258
HSBC – HSBC Bank 2.10% HSBC Foreign Exchange Rates $180
Desjardins 2.49% Desjardins Foreign Exchange Rates $219

Scotiabank Exchange Rates Overview

The Bank of Nova Scotia (Scotiabank) offers foreign exchange services that are convenient and economical. Scotiabank helps to offer foreign exchanges services for travelling abroad for pleasure, doing business across international borders, making investments in foreign currencies, and making transfers internationally.

You can easily find your closest Scotiabank branch using their online branch locator. You can contact Scotiabank about their exchange rates and other exchange services at 1-800-4SCOTIA. This is a convenient option if you are looking for a smaller amount of foreign currency for travelling. Scotiabank also offers a daily market commentary on G10 currencies, which can be accessed here. If you’re looking for some analysis on the happenings of global FX markets, the commentary provided by Scotiabank is a very useful resource.


Accessing Scotiabank’s Exchange Rates

Scotiabank posts their foreign exchange rates online. You can see that Scotiabank offers a multitude of currencies. The rates posted are cash rates for up to $999 in cash, so for larger transactions call into the branch to see if the difference in the rate is material. Remember that not all currencies are available at all branches, and that currency exchange rates are subject to change.


Alternatives to Scotiabank

There are several alternatives to Scotiabank available to you when evaluating where you should conduct your foreign exchange transactions. All of the five major Canadian banks (BMO, CIBC, RBC, Scotiabank, TD) offer currency exchange services. You can access the resources at the bottom of this page to compare Scotiabank’s exchange rates with that of the other big banks, as well as most major credit unions. If you are looking to exchange cash, make sure you compare Scotiabank’s foreign exchange rates with those of competitors to ensure you get the best exchange rate.


If you are looking to do a currency transaction for a large amount ($5000+), you should shop around in order to ensure you get the best foreign exchange rate. At KnightsbridgeFX we offer a best rate guarantee, beating bank rates by 1-2%. If you are looking to make a large transaction, give us a call at 1-877-355-5239 to get a comparison quote.


Compare Other Scotiabank Products

Scotiabank offers a full complement of financial services, including chequing and savings accounts, credit cards, mortgages, loans and lines, investing, and insurance.

Scotiabank’s product breadth is among the most comprehensive in the globe. Compare your current provider for the aforementioned financial services to Scotiabank’s offerings to ensure your financial needs are being met in the best possible way.


More on Scotiabank

The Bank of Nova Scotia (Scotiabank) is the third largest bank in Canada by market capitalization and deposits. Scotiabank operates in over 55 countries across the globe, servicing over 21 million customers. Scotiabank offers a wide breadth of products, including personal and commercial banking, investment and corporate banking, as well as wealth management services. Scotiabank has billed itself as “Canada’s most international bank” due to its acquisition efforts abroad.  So whether you need a credit card, small business loan, personal line of credit, or have other borrowing needs, Scotiabank is a great option.

One of the oldest banks in Canada, Scotiabank was founded in 1832. Since that time, the bank has continued to offer services such as loan protection, and favorable mortgages rates for community members. Originally located in Halifax, bank officials chose to move to Toronto where they have remained since 1900. Widely considered a local institution that offers many ways to bank, the company also engages in many international deals. With a long and honorable history, Scotiabank is one of Canada’s most admired institutions. The bank has both historical roots and the ability to work within the demands of the modern world at the same time.

The Bank of Nova Scotia

Scotiabank began as the Bank of Nova Scotia. At that time, bank officials began offering services such as business loan protection more than a hundred and fifty years ago. At the time, one of the main goals of the bank was to help facilitate trade between Canada and many nations across the Atlantic. Initial expansion efforts were largely centered on the Canadian Maritimes with branch openings in places such as Prince Edward Island. By the end of the 1800’s company officials decided expansion into other parts of Canada were in order. Branches were opened in many parts of the Canadian west. In addition, bank officials also began opening branches in other parts of the continent.

Large American cities such as Boston, Minneapolis and Chicago were part of this plan along with expansion into many regional markets in Canada. In additional, bank officials sought opportunities in the Caribbean nations. The first branch of Scotiabank in this part of the world was opened in Kingston, Jamaica in 1889 in order to help trading of commodities such as sugar and rum. This was the first time a bank from Canada opened up a branch that was not in the United Kingdom or the United States. As such, it was an early demonstration of the ability of company officials to seek out financial opportunities in other parts of the world and act on them for the benefit of company officials and the local and international economy.

A Focus on Acquisitions

In the coming century, company officials shifted the company’s focus. While still continuing to open branches in many parts of Canada and other areas, they also felt opportunities could be used to buy new companies that might make Scotiabank more able to better serve their clients. Officials opened up branches in places such as Havana and New York City. They also began a plan to acquire lucrative mergers that would better enable them to offer a Scotia business loan to all those who need the capital. Bank officials merged with other banks such as the Bank of New Brunswick and ING Direct Bank of Canada. By 1914, the company purchased the Metropolitan Bank. Acquiring this Toronto based bank made it the nation’s fourth largest bank, a position it would continue to assume for many years.

Foreign Expansion

Bank officials also saw the chance to expand into new markets in many parts of the world. In 1920, the bank opened a branch in London and one in Santo Domingo, Dominican Republic. Roughly forty years later saw officials expanding into the Asian markets by opening up an office in Japan. They also became the first bank to appoint women to be managers, opening the company up to participation by a much broader section of the market and allowing them to tap into even more financial talent at the same time.

Four Major Business Lines

Company officials focus on four major areas of business. The Canadian banking section is about delivering high quality services for Canadian residents. There’s an international banking sector that looks for opportunity in many parts of the world from Asia to Europe and the Americas. The Global Wealth & Insurance is focused on specific help for wealthy clients as well as providing necessary products such as insurance that companies and people need to help manage risk in the modern world. The Global Banking & Markets is about the provision of varied kinds of financial products to clients in Canada and other parts of the world.


Exchange Rates from Other Financial Institutions

RBC Exchange Rates Overview Scotiabank Exchange Rates Overview
TD Exchange Rates Overview HSBC Exchange Rates Overview
BMO Exchange Rates Overview National Bank Exchange Rates Overview
Desjardins Exchange Rates Overview

 


US Dollar and Canadian Dollar Exchange Rates