Scotia Exchange Rate Calculator
Calculate currency conversions and estimated bank spreads
USD – US Dollar
CAD – Canadian Dollar
EUR – Euro
GBP – British Pound
MXN – Mexican Peso
USD – US Dollar
CAD – Canadian Dollar
EUR – Euro
GBP – British Pound
MXN – Mexican Peso
Typical Scotiabank retail margins range from 1.5% to 3.5% above mid-market rates.
Total Conversion Result:
Understanding Scotiabank Foreign Exchange Rates
When you exchange currency through a major institution like Scotiabank (Scotia), the rate you receive is not the "mid-market" rate you see on Google or Reuters. Banks apply a spread or a margin to the base rate to cover service costs and generate profit.
How This Calculator Works
This tool helps you estimate the actual cost of a currency transaction by combining the current market rate with the typical retail spread. To get the most accurate result, check the current "Buy" or "Sell" rate directly on the Scotiabank website or mobile app before finalizing your transfer.
Common Conversion Scenarios
- CAD to USD: If you are traveling to the United States or purchasing items from American retailers.
- USD to CAD: For Canadians receiving income from U.S. sources or liquidating U.S. investments.
- International Wire Transfers: Scotia charges both an exchange rate spread and a flat wire transfer fee (typically between $15 and $100 depending on the account type).
Factors Affecting Your Rate
The rate you receive depends on several factors:
- Transaction Type: Cash exchanges at a branch usually have higher spreads than digital transfers.
- Amount: Preferred rates are often available for large conversions (typically over $10,000 CAD).
- Account Status: Scotiabank Ultimate Package holders may receive discounted rates on select foreign exchange services.
Expert Tip: For significant amounts, always ask for the "Preferred Rate" at the branch level. If you are using Scotia iTRADE, the currency conversion for stocks happens automatically but carries its own specific fee structure.