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How to add an international recipient and send a wire payment in your Scotia Connect account?

Understand how to add international recipients and send wire payments efficiently with Scotia Connect, simplifying your global transactions and improving your financial operations.

In this article, let's understand how to add an international recipient and send a wire payment using Scotia Connect. Existing Scotia Bank support articles can be unclear and lack a sense of direction. This guide aims to fill that gap, offering clear, concise instructions for managing international transfers efficiently.

Adding a Recipient:

Step 1: Click the 'Add Recipient' option on the home page. This gives you the choice to pick the destination country for the recipient. The options available on the Scotia Connect app are 'Canada,' 'USA,' and 'International.'

Step 2: Enter the details of the recipient and set them up.

Step 3: Complete the form and review the details to add the recipient into the database.

Creating Payments:

Step 1: The option to create or send payments is available directly in the 'Overview' section.

Step 2: Here, you can edit or add payment details, including the amount to be sent, the account from which the money is being sent, an internal memo, and Sundry Information.

Step 3: The final stage is to review the payment and process it. You'll then receive a payment confirmation, completing the transaction.

Scotia Connect's banking software is better compared to other banks but still falls short.

The journey of sending a payment involves creating the recipient and processing the payment, and is neither smooth nor easy. There are multiple steps involved, which consumes a lot of time for accounting team members. There's a wire fee for every payment, leading Canadian businesses to pay thousands of dollars for all this. The fast-growing technology is not adopted well.

On top of this, Scotia Connect has its own Multi-Factor Authentication app(Digital Token), a subpar product complementing the main system. The app needs to be installed on phones and used frequently, adding to the list of poorly designed software and systems.

Why is Finofo different?

The journey from adding a beneficiary to processing a payment is smooth and straightforward with Finofo. Multiple unnecessary steps are eliminated, speeding up the process and offering a significantly better User Design and User Experience.

Banks rely heavily on the SWIFT network, leading to hefty wire fees for global payments. Users pay a high price for outdated technology. With Finofo, there are no wire fees for international payments, allowing companies to save significantly on global transactions.

Eliminate Wire fees and open your free account with Finofo today!