Wire Transfer at Scotiaconnect

Domestic Wire Transfers

Scotiaconnect domestic wire transfers move funds between Canadian and U.S. financial institutions — submit before 4:00 PM ET on a business day for same-day processing and next-business-day availability at the receiving bank.

A domestic wire transfer through Scotiaconnect requires the recipient's full name, bank name, transit number and institution number (for Canadian banks) or ABA routing number (for U.S. banks), and the recipient's account number. Domestic wires can be sent in Canadian dollars or U.S. dollars. The Scotiaconnect platform validates routing numbers in real time — if you enter an incorrect number, the system flags it before you can submit, reducing the risk of misdirected funds.

Outgoing domestic wires cost $15 per transfer. Incoming domestic wires cost $10. Scotiaconnect premium checking account holders receive three free outgoing domestic wires per month. Business checking accounts include five free outgoing wires monthly. Wire limits vary by account type and history: personal accounts start at $25,000 per wire and $100,000 daily, while business accounts support up to $250,000 per wire and $1,000,000 daily with prior approval for larger amounts.

International Wire Transfers

Scotiaconnect international wire transfers connect to 200+ countries through the SWIFT network — transparent exchange rates, detailed fee breakdowns before confirmation, and delivery within 1-2 business days.

Sending an international wire transfer through Scotiaconnect requires more recipient information than a domestic transfer: the recipient's full name and physical address, their bank's name and full address, the bank's SWIFT/BIC code (8 or 11 characters), the recipient's IBAN (for European recipients) or standard account number, and the destination currency. Some countries require additional identifiers — a CLABE for Mexico, a sort code for the United Kingdom, or an IFSC code for India. The Scotiaconnect wire transfer form dynamically adds the relevant fields based on the destination country you select.

International outgoing wire fees are $35 for CAD or USD transfers and $45 for other currencies. Incoming international wires cost $15 regardless of currency. The exchange rate applied to currency conversions appears on the confirmation screen before you submit — Scotiaconnect shows both the wholesale interbank rate and the retail rate with the platform markup, so you know exactly what the recipient will receive in their local currency. For recurring international wires to the same recipient, Scotiaconnect stores payee details for future transfers, eliminating the need to re-enter SWIFT codes and account numbers each time.

Wire Transfer Fee Schedule

Tracking and Confirmation

Every Scotiaconnect wire transfer generates a unique tracking number — monitor status from "Initiated" through "Processing" and "Sent" to "Confirmed" with timestamps at each stage accessible from your transaction history.

The wire transfer status tracker updates as the payment moves through the banking system. Status stages include "Draft" (wire form partially completed and saved), "Pending Review" (submitted and awaiting Scotiaconnect processing), "Processing" (funds debited and payment instructions sent to the correspondent network), "Sent" (wire released to the receiving bank), and "Confirmed" (receiving bank acknowledges receipt). For international wires, an additional "Intermediary Processing" stage may appear when the wire passes through a correspondent bank en route to the destination. You receive a push notification, email, or SMS at each status change — configure your preference in the Scotiaconnect alert settings panel.

A formal wire confirmation PDF is available for download once the transfer reaches "Confirmed" status. The confirmation includes the transfer amount, currency, exchange rate applied (for international wires), fees deducted, recipient details, and a unique Federal Reference Number. Business clients use these confirmations for audit trails and reconciliation with accounts payable systems.

Security and Verification

Scotiaconnect wire transfers require multi-factor authentication at both login and wire submission stages — a one-time code sent to your registered device confirms every outgoing wire before funds are released.

Wire transfers through Scotiaconnect trigger additional security layers beyond standard online banking authentication. After signing in and completing the wire transfer form, the platform sends a one-time verification code to your registered phone number or email. You must enter this code to authorize the wire — even if someone gains access to your Scotiaconnect login, they cannot send a wire without also compromising your second factor. For wires exceeding $10,000, Scotiaconnect also performs a brief fraud review that may include a phone call to your registered number to verbally confirm the transfer details. This two-step verification aligns with CFPB guidance on electronic fund transfer security.

Recurring wire templates are stored securely but require re-verification if the recipient details, amount, or currency change materially from the saved template. Scotiaconnect also supports dual-approval workflows for business accounts — one employee initiates the wire and a second authorized user approves it before funds are released. Dual approval reduces internal fraud risk and is configurable in the business banking user permissions panel.