Integrated Payments Help

How to Send Wire Payments on Time

Each wire payment has an Execution Date and a Value Date.

  • The Execution Date is the day that the Bank will act upon your wire payment instructions.
  • The Value Date is the day the beneficiary is to receive value for the payment.

To ensure that the funds are paid to the beneficiary on the Value Date, payment instructions must be sent to the Bank 1 or 2 business days in advance, depending on the payment destination, the currency and amount of the payment. Please refer to the cut off times outlined in the table below:

If payment destination is:

And currency is:

And payment is:

Then payment must be transmitted to Scotiabank:

And Scotiabank must receive the payment by:

Within
North or South America

CAD

Any amount

On the Value Date

5:00 pm ET

Within
North or South America

USD

Any amount

On the Value Date

4:00 pm ET

Within
North or South America

Any Scotiabank traded currency (other than CAD/USD)

Under the bulletin limit*

One Day before the Value Date

5:00 pm ET

Within
North or South America

Any Scotiabank traded currency (other than CAD/USD)

Above the bulletin limit*

Two days before the Value Date

4:00 pm ET

Outside
North or South America

CAD/USD

Any amount

One Day before Value Date

5:00 pm ET

Outside
North or South America

Any Scotiabank traded currency (other than CAD/USD)

Below the bulletin limit*

One Day before the Value Date

5:00 pm ET

Outside
North/South America

Any Scotiabank traded currency (other than CAD/USD)

Above the bulletin limit*

Two days before the Value Date

4:00 pm ET

* The bulletin limit is the value provided on the Rates Inquiry Table within the Cross Currency section of Wire Payments.

  • For any currency amount below the bulletin limit, ScotiaConnect will provide a system generated rate.
  • For any currency requested above the bulletin limit, customer can pre-book the FX rate by contacting the BSC or ScotiaFX if they are previously set up as a customer of the FX desk.
  • For wire payment via the Integrated Payments Platform in ScotiaConnect, customers also have the ability to receive real-time FX rates for Over bulletin payments online or can pre-book through the BSC or ScotiaFX if preferred.
  • Please note that ScotiaFX provides rates only between 7:00 a.m. to 5:00 p.m. Eastern Time.
Note: ScotiaConnect will enable you to submit wire payment instructions to Scotiabank after the cut-off times stated above.  Payments submitted after the cut-off time, but before 5:55 pm ET will be made on the requested date on a ‘best efforts basis’.