New digital solution enables customers to send money abroad in an easy, cost-effective and secure way

TORONTO, Feb. 24, 2020 /CNW/ - Scotiabank announced today the launch of Scotia International Money Transfer, a new cost-effective digital solution that allows customers to send money internationally using mobile banking or Scotia OnLine.

Scotia International Money Transfer meets a critical need for millions of Canadians who need a seamless way to send money abroad to places like the U.S., China, India, the United Kingdom, the Philippines and many countries in Europe. With only a few simple steps, customers can send money in a matter of seconds and their recipients can access the funds in as little as one day.   

"We're ecstatic to be launching an innovative, digital solution that allows customers to send money abroad in a simple, low-cost and secure way," said D'Arcy McDonald, Senior Vice President, Retail Deposits, Investments and Payments for Scotiabank. "By sending money internationally through mobile or online, customers can avoid the often lengthy, confusing and costly process that is typically involved with traditional global money transfers." 

Whether sending money to family, helping pay for tuition, or paying back a friend for an international vacation, Scotia International Money Transfer offers a cost-effective option to send money abroad at only $1.99* per transaction. For customers with the Ultimate Package and New to Canada customers, there is no transaction fee.

"Scotiabank has been undergoing a true digital transformation and developing solutions that make it easier for customers to bank with us," said Anya Schnoor, Executive Vice President, Retail Products for Scotiabank. "We want to enhance the customer experience across all of our channels through simple and easy-to-use digital tools and solutions." 

*Foreign currency exchange rates apply. To learn more about Scotia International Money Transfer, please visit www.scotiabank.com/sendmoney

About Scotiabank
Scotiabank is a leading bank in the Americas. We are here for every future. We help our customers, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With a team of more than 100,000 employees and assets of over $1 trillion (as at October 31, 2019), Scotiabank trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). For more information, please visit http://www.scotiabank.com and follow us on Twitter @ScotiabankViews.

SOURCE Scotiabank