Your complete guide to ordering foreign currency at Scotiabank

Scotiabank offers foreign currency purchases, but only in-branch, with no option to order online. While this may be convenient for those who prefer a human touch, it can also mean limited availability and unpredictable exchange rates.

In this guide, we’ll break down how to order foreign currency from Scotiabank, including the steps involved, fees, and the exchange rates to consider. We’ll also explore other options, such as Wise, which lets you hold and convert up to 40 currencies online at the mid-market exchange rate—the fairest rate available—to help you manage your travel money more easily.

How to order foreign currency at a Scotiabank branch

If you need to order foreign currency from Scotiabank, you’ll have to visit a branch in person, as there’s no online ordering option.

Step 1. Find your nearest branch using Scotiabank’s online branch locator.

Step 2. Head to the branch and speak with a Scotiabank customer service representative during business hours.

Step 3. Specify the foreign currency you need and how much.

Step 4. Confirm the exchange rate before finalizing.

Step 5. Pay using your Scotiabank account. The total cost will include the face value of your order plus any applicable foreign exchange and delivery fees.

Step 6. Collect your cash. If the currency is available, you’ll receive it immediately; otherwise, you may need to return to pick it up once your order is fulfilled.

The Wise account: Convert your money to over 40 currencies online

Managing money in different currencies doesn’t have to be complicated or expensive, thanks to the Wise account. With a Wise multi-currency account, you can hold and convert over 40 currencies, including CAD, USD, EUR, and JPY, all in one place.

Unlike banks, Wise gives you the mid-market exchange rate—the same rate you’d find on Google—with low, transparent fees starting at 0.48%⁴ for international transfers and currency conversion. Plus, it automatically converts your balance at the best rate, so you can breathe easily knowing you’ve got the most for your money.

Get your free Wise account in a few clicks >>>

Scotiabank’s alternatives to ordering foreign currency

If you’re looking for ways to manage foreign currency without visiting a Scotiabank branch, several alternative options are available.

Foreign currency accounts

Scotiabank provides foreign currency savings accounts in USD and EUR, allowing customers to hold and transact in these currencies without needing to exchange money each time.

• Scotia Euro Savings Account⁵ – Save and transact in EUR with no monthly fees if you maintain a minimum balance of €200. It includes two free teller-assisted transactions per month, after which a €1.25 fee applies per transaction.
• US Dollar Savings Account⁶ – Save and transact in USD with no monthly fees if you maintain a $200 USD minimum balance. It includes two free debit transactions per month, with additional transactions costing $1.25 USD each.
• Scotiabank US Dollar Visa⁷ - For those who frequently purchase in USD, this account offers a convenient payment method without foreign currency conversion fees. Spend directly in USD for a $35 annual fee and an interest-free grace period on purchases.

International ATM withdrawals

Through the Global ATM Alliance⁸, Scotiabank customers can withdraw cash in local currencies at partner bank ATMs in over 40 countries and 44,000 ATMs worldwide without paying additional surcharge fees. While this helps cut costs, standard exchange rates and conversion fees may still apply.

Foreign exchange and currency conversion fees

Scotiabank has a foreign currency conversion fee of 2.5%⁹ on debit and credit card transactions. However, some premium credit cards, such as the Scotiabank Passport Visa Infinite and Scotiabank Gold American Express, waive this fee, making them a great choice for frequent travellers.

For those who need to send or receive money internationally, Scotiabank also partners with Western Union for global transfers, though fees and exchange rates vary.

Spend like a local abroad with the Wise card!

The Wise card makes spending internationally in over 150 countries easy and cost-effective by using the mid-market exchange rate for currency conversions. Whether you're travelling, shopping online, or withdrawing cash abroad, the Wise card keeps fees low and transactions simple.

Wise Card ATM fees¹⁰

• The first 350 CAD in ATM withdrawals per month is free (up to two withdrawals)
• Withdrawals after this incur a 1.75% fee per transaction plus a fixed CAD 1.50 fee per withdrawal

Wise Card spending and withdrawal limits¹¹

Wise applies daily and monthly limits to protect your account and ensure security. Limits reset automatically at midnight (local time) for daily limits and on the first day of each month for monthly limits.

Are there any limits on ordering foreign currency from Scotiabank?

Scotiabank imposes a limit of 2,000 CAD¹² per customer per week for foreign currency orders. Availability may vary depending on the branch and the currency requested, so it's best to check in advance. If you need a larger amount, you may have to place multiple orders over time or explore alternative options like Wise for online currency exchange and international spending.

Final thoughts on ordering foreign currency from Scotiabank

Scotiabank offers in-branch foreign currency services, making it an option for those who prefer to handle transactions in person and have access to a local branch. However, with limits on orders, potential fees, and no online ordering, it may not be the most convenient choice for everyone.

If you're looking for a flexible, online alternative, Wise lets you hold and exchange over 40 currencies at the mid-market exchange rate. With no hidden fees and an international debit card for spending abroad, Wise offers a hassle-free way to manage your money globally.

Sources:

1. Foreign Exchange Services | Scotiabank Canada
2. Currencies and Denominations | Scotiabank Canada
3. Credit Card Fees | Scotiabank Canada
4. Wise Fees for Sending Money
5. Scotia Euro Savings Account | Scotiabank Canada
6. US Dollar Daily Interest Account | Scotiabank Canada
7. Global ATM Alliance | Scotiabank Canada
8. Credit Card Fees | Scotiabank Canada
9. Wise Fees & Pricing: Only Pay for What You Use
10. Wise Card spending limits
11. Currencies and Denominations | Scotiabank Canada