Cut-off times for submitting payments

Each business day, you have three cut-off times by which you can submit Canadian dollar payables – 5:00 a.m. ET, 2:15 p.m. ET, and 7:00 p.m. ET.

• Submit by 5:00 a.m. ET so funds are available by:
  • 9:30 a.m. ET for accounts at Scotiabank
  • 11:30 a.m. ET for accounts at direct-clearing institutions * (e.g. chartered banks)
  • Between 1:30 p.m. ET and up to 2 business days for accounts at indirect-clearing institutions** (e.g. most credit unions and trust companies)

  Your Scotiabank account will be debited for payables and credited for receivables by 9:00 a.m. ET or for prefund by end of business day.

• Submit by 2:15 p.m. ET so funds are available by:
  • 4:30 p.m. ET for accounts at Scotiabank
  • 6:30 p.m. ET for accounts at direct-clearing institutions * (e.g. chartered banks)
  • Between 8:30 p.m. ET and up to 2 business days for accounts at indirect-clearing institutions** (e.g. most credit unions and trust companies)

  Your Scotiabank account will be debited for payables and credited for receivables by 6:30 p.m. ET or for prefund by end of business day

• Submit by 7:00 p.m. ET so funds are available by:
  • 9:00 p.m. ET for accounts at Scotiabank
  • 11:00 p.m. ET for accounts at direct-clearing institutions * (e.g. chartered banks)
  • Between 1:00 a.m. ET next business day and up to 2 business days for accounts at indirect-clearing institutions** (e.g. most credit unions and trust companies)

Your Scotiabank account will be debited for payables and credited for receivables by 10:30 p.m. ET or for prefund by end of business day.

• Submit request for EFT funds by 7:00 p.m. ET, so funds are available by:
  • End of business day for accounts at Scotiabank, direct-clearing institutions* (e.g. chartered banks), and indirect-clearing institutions** (e.g. most credit unions and trust companies).

Your Scotiabank account will be debited for payables and credited for receivables and prefund by end of business day.

• Submit by 5:00 a.m. ET so funds are available by:
  • 9:00 a.m. ET for accounts at Scotiabank
  • End of business day for accounts at direct-clearing institutions * (e.g. chartered banks)
  • Next business day for accounts at indirect-clearing institutions** (e.g. most credit unions and trust companies)

Your Scotiabank account will be debited for payables and credited for receivables by 9:00 a.m. ET (if daily processing limit) or end of business day (if prefund).

• Submit request for EFT funds by 5:00 a.m. ET so funds are available by:
  • End of business day for accounts at Scotiabank, direct-clearing institutions* (e.g. chartered banks), and indirect-clearing institutions** (e.g. most credit unions and trust companies)

  Your Scotiabank account will be debited for payables and credited for receivables by end of business day.

Submit International Automated Clearing House Transaction (IAT) payments by 5:00 p.m. ET, so funds are available by next business day.

Note: The following information is for sending funds between financial institutions within and outside of Canada through a wire payment. Bank holidays may affect your payment submissions. Upcoming bank holidays will be posted in the ScotiaConnect Message Centre.

To make sure your recipients are paid by the intended value date, submit wire payments to the destination bank by 5:00 p.m. ET at least 1 or 2 business days in advance of the value date.

For more specific submission cut-off times, view the information about wire payments to North America or South America and to destinations outside of North America and South America.

For Canadian dollar and US dollar wire payments

• Submit Canadian dollar wire payments to Scotiabank by 5:00 p.m. ET on the value date.
• Submit US dollar wire payments to Scotiabank by 4:00 p.m. ET on the value date.

For other foreign currency wire payments (not CAD or USD):

Cut-off times for these payments depend on currency and amount. When you submit a payment, check the rates inquiry table for your payment’s currency and amount to see how your foreign exchange rate must be applied.

• If a wire payment amount is above the specified limit for the destination currency, you’ll need to book a rate through your branch or the Retail and Business Service Centre at 1-888-855-1234. Submit these payments to Scotiabank by 5:00 p.m. ET two days before the value date.
• If a wire payment amount is below the specified limit for the destination currency, ScotiaConnect applies the standard daily rate for converting to the payment’s currency. Submit these payments to Scotiabank by 5:00 p.m. ET one day before the value date.

For Canadian dollar and US dollar wire payments:

• Submit CAD wire payments to Scotiabank by 5:00 p.m. ET at least one day before the value date.
• Submit USD wire payments to Scotiabank by 5:00 p.m. ET at least one day before the value date.

For other foreign currency wire payments (not CAD or USD):

Cut-off times for these payments depend on currency and amount. When you submit a payment, check the rates inquiry table for your payment’s currency and amount to see how your foreign exchange rate must be applied.

• If a wire payment amount is above the specific limit for the destination currency, you need to book a rate through your branch or Retail and Business Service Centre at 1-888-855-1234. Submit these payments to Scotiabank by 4:00 p.m. ET two days before the value date.
• If a wire payment amount is below the specific limit for the destination currency, ScotiaConnect applies the standard daily rate for converting to the payment’s currency. Submit these payments to Scotiabank by 5:00 p.m. ET one day before the value date.

You can future-date EFT payments for up to 60 days ahead of the current business day.

• Future-dated EFT payables will be credited at the opening of business day on the selected value date.
• Future-dated EFT receivables will be debited at the end of business day on the selected value date.

You can future-date Canadian dollar or US dollar wire payments for up to 30 days ahead of the current business day.

• Wire payments made from prefunded originating accounts will be debited on the execution date in order to meet the value date. The execution date is the date on which Scotiabank receives and processes the wire payment instructions to release the funds.
• Wire payments made from originating accounts with a daily processing limit will be debited on the value date.

You can future-date International Automated Clearing House Transaction (IAT) payments for up to 30 days ahead of the current business day.

• IAT payments are debited and sent to the recipient on the specified due date.
• Funds stay in the originating account until the day the payment is due.