How Much Does Scotiabank Really Charge You for Foreign Exchange?
Scotiabank calls itself 'Canada's international bank,' yet they charge ~2.5% on every FX transaction. International banking shouldn't mean internationally expensive.
~2.5%
Average FX markup by Bank of Nova Scotia
On $1,000 USD
$25 hidden
On $10,000 USD
$250 hidden
On $100,000 USD
$2500 hidden
Calculate Your Hidden Scotiabank FX Fees
$USD/month
Yearly cost at Scotiabank
$3,000/yr
2.5% markup × $10,000 × 12 months
Loop Basic
$600/yr
0.5% FX, no plan fee
Save $2,400/yr
Loop Plus
$1,248/yr
0.25% FX + $79/mo plan
Save $1,752/yr
Loop Power
$3,708/yr
0.1% FX + $299/mo plan
Plus: domestic and international payments are free on all Loop plans — no wire fees, ever.
See Your Real Scotiabank FX Costs
Upload your Scotiabank bank statement and our free audit tool will show you exactly how much you're losing to hidden FX markups.
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