SCOTIABANK has added cross currency transfers and foreign exchange purchasing to its online banking service.

Effective Monday, August 16, customers who use ScotiaOnline, the Bank’s internet banking platform, can transfer funds from their local currency accounts to any foreign currency.

“We observed that a large number of customers had to come into our branches simply to purchase foreign exchange to make a card payment or for travel. Now without visiting a branch, customers can easily make payments on United States dollar-denominated Scotiabank or American Express credit cards, or purchase foreign exchange ahead of travel plans and later access those funds using their Scotiacard at ATMs overseas," said Maya Johnston, Scotiabank senior vice president of Non-Branch Sales and Service.

The new service follows the launch by Scotiabank of its mobile banking service and an announcement by president and chief executive officer Bruce Bowen that the bank will be focusing on improving the accessibility of its services.