What is the best way to transfer a large sum of money from my checking account at scotiabank to my new account at Bank of America?

  • 3
    This has to be a duplicate; we've covered just about every possible aspect of interbank funds transfer... – keshlam Feb 9 '16 at 21:46
  • Right, but need the link..... – JTP - Apologise to Monica Feb 9 '16 at 22:33

You didn't specify where in the world you account is - ScotiaBank operates in many countries.

However, for large amounts where there is a currency conversion involved, you are almost guaranteed to be better off going to a specialist currency broker or payments firm, rather than using a direct method with your bank (such as a wire transfer).

Based on my assumption that your account is in Canada, one provider who I have personally used with success in transferwise, but the best place to compare where is the best venue for you is https://www.fxcompared.com

In the off chance that this is an account with Scotiabank in the United States, any domestic payment method such as a domestic wire transfer should do the job perfectly well. The fees don't matter for larger amounts as they are a single fee versus a percentage fee like you see with currency conversions.

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