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Transferring funds with ScotiaBank

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Transferring funds with ScotiaBank Empty Transferring funds with ScotiaBank

Post by CanuckBob Tue Mar 08, 2011 6:49 pm

I haven't had time to check with them but thought maybe one of you Canucks here might know the answer to this:

If I have a ScotiaBank account in Canada and open up a ScotiaBank account in Mexico is one able to transfer funds between the two accounts through on-line banking or does it still have to be a wire transfer like from one bank to another?
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Post by hockables Tue Mar 08, 2011 10:05 pm

I'm pretty sure that U can use your Scotia Card at any Scotia Terminal in Mexico the same way as any Scotia Terminal in Canada without any additional charges... plus... you get on the spot bank exchange rate...

I used my Royal Card at Lakeside Scotia Terminal and the costs incurred were only charges for using a competitors card... I think it was 20 Pesos to Scotia & back home $8.00 to Royal...

Next time... I'll have a Scotia Card!!

Plus .. Plus


Last edited by hockables on Tue Mar 08, 2011 10:10 pm; edited 1 time in total
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Post by CanuckBob Tue Mar 08, 2011 10:10 pm

I'm thinking about larger amounts of cash. Let's say I buy a house or car. Can I simply go on-line and transfer a large sum from my Canadian account to my Mexican account? I have read about people writing checks but have a hard time believing that someone would accept a personal check from a foreign bank for such a large purchase. When I received a damage deposit back on a foreign check my Canadian bank held it for 5 weeks before releasing the funds.
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Post by hockables Tue Mar 08, 2011 10:19 pm

The day U buy your new home... someone is going to be happy to take your cheque Bob...
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Post by ferret Wed Mar 09, 2011 7:54 am

I think the only way you're going to find an answer to your question is to ask BOTH Scotia Banks the question.
BTW, having just sold our house on the coast...Being as we and the buyers are Canadian we accepted a transfer of Canadian dollars to our Canadian account. That process took a whole six HOURS. It saved the buyers from converting to U.S. dollars and transfering it down here. The point being...ask questions and get creative...there are easy solutions to most things.
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Post by Walter Wed Mar 09, 2011 8:54 am

For large amounts I would look at Xe Trade, or similar. You set up a free account with them, transfer funds from Can. bank, convert to pesos, deposit in your Mexican account. Beats the bank out of their 2-3% gouge.

I haven't used them yet, as my plans change almost daily, but definitely worth a comparison look.
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Post by David Wed Mar 09, 2011 5:05 pm

Bob, I think you can do an e-transfer. However, it's best to check with the banks.
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