Scotiabank International Money Transfer: Benefits, Features

scotiabank international money transfer

International money transfers can be essential for various reasons, including educational expenses, financial support, healthcare aid or traveling, etc. In this age of technology, money transfer has become more accessible than ever. Many banks allow online money transfers both domestically and internationally. Money transfer has become hassle-free and is done in a secure manner. One such bank that offers international money transfers is Scotia bank. And if you wish to know more about Scotiabank international money transfer, continue to read this blog. 

Why Choose Scotiabank Money Transfer?

The following are the reasons to choose Scotiabank for money transfer:

  • International money transfer using Scotiabank is fairly easier and is done using the mobile app or online banking 
  • It enables safe and secure money transfers and protects them from any unauthorized activity
  • It has a global reach that facilitates money transfers to many countries including the 
  • USA, United Kingdom, India, Philippines, China France, and many more 

Also Read: What is a domestic wire transfer?

Key Features of Scotiabank Money Transfer

It facilitates two kinds of money transfers namely Scotia International Money Transfer and Western Union:

Scotia International Money Transfer

  • This offers direct-to-bank deposits
  • Sends money online directly to your recipient bank account within 5 business days in over 20 countries
  • It allows you to transfer $10,000 a day (8.22 Lakh)
  • It takes a $0 transfer fee for ultimate package customers and new-to-Canada customers 
  • A minimal amount of $1.99 (Rs. 163.65) is charged to other customers
  • Additional foreign exchange rates apply 

Western Union

  • This allows cash pick-up 
  • It allows money transfers to more than 5,00,000 locations in over 200 countries
  • You can send up to $999.99 (Rs. 82,233.28) using online and mobile banking and up to $7499 (6.16 Lakh ) via branch services a day 
  • Send money internationally for fast cash pick-up at an agent location within 2-4 hours 
  • It charges a transfer fee of $5 (Rs.411.17) +1%
  • Additional foreign exchange rates apply 

Note: conversion are done based on the current USD/INR conversion rate

Also Read: What is a SWIFT wire transfer?

How to Transfer Money Internationally with Scotia Bank?

The following are the steps to transfer money internationally with Scotiabank:

  • Download and sign in to the Scotia Bank mobile application and click on ‘transfers’
  • Select send money internationally, and then tap on Bank deposits
  • Enter the recipient’s contact information and select the bank account you want to transfer money from
  • Enter the amount you wish to transfer and click on the ‘submit’ button

Also Read: List of Unsecured Loans for Study Abroad

Benefits of Using Scotiabank Money Transfer

The following are the benefits of using Scotia Bank Money Transfer:

  • It is convenient to transfer money using mobile applications and online banking 
  • It offers fast service to transfer money 
  • Money transfer is done in a secure manner 
  • The bank has a global reach that allows money transfers from various countries

FAQs

Why should I use Scotia bank for money transfers?

The following are the reasons to choose Scotia bank for money transfer:
International money transfer using Scotia bank is fairly easier and is done using the mobile app or online banking 
It enables safe and secure money transfers and protects them from any unauthorized activity

What are the benefits of transferring money via Scotia bank?

The following are the benefits of using Scotia Bank Money Transfer:
It is convenient to transfer money using mobile applications and online banking 
It offers fast service to transfer money 
Money transfer is done in a secure manner 

What are the reasons to transfer money internationally?

International money transfers can be essential for various reasons, including educational expenses, financial support, healthcare aid or travelling, etc. 

This was all about Scotia Bank International Money Transfer. If you wish to know more about international transfer and education loans, reach out to Fly Finance experts.

About Charvi Khaneja

Charvi Khaneja is a proficient writer with a passion for simplifying complex financial concepts and empowering individuals to make informed decisions about their money. She writes about the finace perspective with relation to study abroad.

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