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Service Information Help

Account Transfers

The My Services Information screen for Account Transfers displays the following information:

  • Service Name: “Account Transfers”
  • Hours of availability
  • Approval settings belonging to the Account Transfer service
  • Functions belonging to the Account Transfer service
  • Accounts belonging to the Account Transfer service

Note: From the My Services screen, the approval settings displayed are for your information only. To make changes to these settings, go to the Group Information screen.

Approval settings belonging to the Account Transfer service

To give a group the authority to approve other users’ Same Currency Account Transfers and FX Account Transfers, see the Group Information – Service Privilege Details – Account Transfer screen

The Approver option can be set to either:

  1. None (No approval required)
  2. May be the Same User (If creator has approval authority)
  3. Must be a Different User (Approver must be different from Creator)
  4. Must be in a Different Group (Approval must come from a user in a different group)

Note: If you need to change your Approval option you will need to contact your Relationship manager.

Functions belonging to the Account Transfer service

Within this service, access can be assigned to the following functions:

Note: To add or remove access to services with an x or a checkmark next to them you will need to contact your Relationship Manager.

If a function has been assigned to the service, a check mark will be displayed in the Assign column next to the function.

Account Transfer History The Account Transfer History Report provides a listing of transfers made, in chronological order from oldest to most recent.
Same Currency Account Transfers The Same Currency Account Transfers function provides the ability to make same currency transfers between two Canadian CAD dollar accounts, two Canadian USD dollar accounts or two US USD Dollar accounts.
FX Account Transfer The FX Account Transfer function allows the user to make a transfer between CAD and USD denominated accounts in Canada.

Accounts belonging to the Account Transfer service

The accounts belonging to the service are listed at the bottom of the Service Information screen. Click on an account number to see details of an individual account.

To leave the Account Transfers screen, click the Cancel button.

Treasury Accounts

The Account Transfer Service can be used to transfer funds to pre-designated U.S. and Canadian Dollar Treasury Accounts. Treasury Accounts are special high-yield, 24-hour deposit vehicles available only to ScotiaConnect customers. The rates are displayed on the Welcome screen of ScotiaConnect each morning by 9:30 a.m. (Eastern time).

Treasury Account transfers can be done between 7:00 a.m. and 12:00 p.m. local time.

In order to offer this high yield, the following terms apply for both U.S. and Canadian Dollar Treasury Accounts:

  • Minimum term of deposit: one day (overnight).
  • Minimum balance: $0 or $100,000.
  • Maximum balance: $10,000,000 (U.S.) and $10,000,000 (Canadian).
  • Transfers must be completed by 12:00 p.m. Eastern time (or local time for customers located in Central, Mountain, or Pacific Time zones).

Note: FX transfers to or from a Treasury Account are not permitted.

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