Wire Payments

Securely send funds online from your Scotiabank account in any major currency within Canada or internationally. 

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Product Benefits

  • Receive real-time confirmation for each payment transmitted.
  • Protect payment information with full end-to-end authentication
  • Automatically provides FX rates.·        
  • Streamlined, online processes allow you to create and send wires faster.

Account Details


  • Bank account can be based in Canada or the U.S.
  • Funds are debited from customer accounts the same day the payments are sent.
  • Create templates for recurring payments. 
  • Schedule wires up to 30 days in advance.
  •  Receive detailed reports for easy reconciliation. 

Complementary Services


ScotiaConnect Digital Banking

Enhanced online business banking to approve and submit payments, check balances, EFTs, Wires, and more.

Mobile Deposit

Deposit a cheque with your smartphone

Western Union Money Transfers

Send money quickly to family and friends all over the world

Frequently Asked Questions


What is a wire transfer?
A wire transfer is a quick and safe way to send money between two bank accounts in any major currency either within Canada, the United States or internationally.

A wire transfer tends to take less time to clear and settle than a cheque, which makes it a good payment choice for many businesses looking to decrease the clearing time required for their payables and receivables.

How does a bank wire transfer work?

In order to send a wire transfer, you will need information about the account you are sending it to. Whether you are making domestic wire transfers or international wire transfers, you will need to know the recipient's full address, and their bank account information including their international bank account number (IBAN), BIC, ABA number, routing number, transit number or SWIFT code as well as the bank’s full address. Additionally, you may want to know the currency of the destination account, so you can decide if you want to have the currency converted or not. By sending the wire in its original currency, the receiver FI will be responsible for its conversion. The Scotia Connect Wire Payment service offers an online Beneficiary Bank Search that can be used when sending wire payments. You can search by bank name and address, or ABA/BIC/SWIFT/CPA institution Code and Bank Transit.

If you are receiving a wire transfer, you need to share this information with the person that is sending it to you. Ensure you are comfortable sharing your banking information with your payment sender, as your banking information is sensitive and should be protected.

How long does a wire transfer take?
A wire transfer can take as little as few hours when sending money within Canada  and up to 5 business days when sending money internationally.

What are the fees for sending or receiving a wire transfer?
The amount you will pay for outgoing wire transfers, will depend on where you execute the wire, i.e. branch vs online. Wire transfers tend to cost more than other types of transfers or payment services as they are currently one of the fastest ways to move larger amounts of money securely.

Can I schedule wire payments in advance?
You can set up wire payment templates in the ScotiaConnect online portal and update the amount and date when you are ready to send the transaction. Wire payments can be future dated up to 30 calendar days.

Can I cancel a wire transfer?
Future dated wire payments can be cancelled anytime up to the day before the payment is to be executed. Once a payment is completed and funds have left the bank, customers can review the details of the wire transfer but are not able to cancel it.

What if I'm wiring funds from one currency to another?
We can automatically provide you with updated FX exchange rates so that you have everything you need to know about the conversion of your wire transfer into your desired foreign currency.

What security features are built into the wire payment service?
In addition to digital certificate-based authentication, SSL technology and 128-bit encryption, which is used to protect the privacy of wire payment data as it flows over the internet, the following security features are built into the service:

  • User Privileges - Customers can assign employee access to various functions.
  • Approval Limits - Dollar limits can be set (per transaction and per day) for each individual.
  • Approval Levels - Customers can select single, double or triple approvals for all transactions or transactions over a certain amount or require approval to be provided from a user in a different group.
  • Payment Templates - Payment templates can be set up to allow users to enter payments, and prevent them from changing any of existing information. Users can be restricted to using templates only for payment entry.

What is the difference between a wire payment and an EFT?
A wire transfer is a secure transfer of funds between bank accounts in Canada or internationally in any major currency and is irrevocable. An electronic funds transfer (EFT) payment can only be sent between two bank accounts in Canada, in Canadian or US dollars. The benefits of an EFT payment is that it is cheaper to both receive and send. A wire transfer is more expensive, but the benefits are that it can be sent internationally, in multiple currencies. Both are safe ways to send money between two accounts at intermediary banks..

How can I protect myself from Wire Fraud?
As a small business owner it is important to protect yourself and your business by becoming familiar with common scams. Use trusted resources to determine the legitimacy of a transaction before you send any money, such as The Canadian Anti Fraud Centre and Little Black Book of Scams. Confirm all transaction details, including the legitimacy of requests to send payments to suppliers, vendors, and customers by reaching out to a known contact through a validated phone number. Review email requests carefully for anything out of the ordinary including: altered email addresses, spelling or grammar errors, unexpected changes in beneficiary details, urgent requests to pay large amounts, and avoidance to discuss payment details verbally.

Ensure you have an internal due diligence process in place, particularly for large outgoing payment requests. Educate your employees on methods of fraud prevention, including security practices. Consider consulting a trusted IT service for advice on device, email, and system protection.

Regular reconciliation of accounts can help to spot unusual activity, allowing you to report to your financial institution early, and engage your IT support to review systems and emails for any security breaches.

What do I do if my business is victim of fraud?
If you believe you or your business have been victim of a fraudulent event, whether payment was completed or not, always advise your financial institution urgently, with as much detail as possible.

Wire Payments
Securely send funds online from your Scotiabank account in any major currency within Canada or internationally. 
Contact Us
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