Spanish & Portuguese banking services, low-cost remittances to Mexico, Colombia, Brazil & more — in Toronto, Montreal, and Vancouver
Canada's Latin American community exceeds 600,000 people, with strong concentrations in Toronto, Montreal, Vancouver, and Calgary. Colombians, Mexicans, Brazilians, Salvadorans, and Venezuelans are among the fastest-growing immigrant communities in Canada.
Scotiabank has by far the strongest Latin American banking network of any Canadian bank. They operate in Mexico, Colombia, Peru, Chile, and many other Latin American countries. If your family banks at Scotiabank in your home country, this is the obvious choice for seamless cross-border banking.
TD offers Spanish-language phone support and has a growing presence in Spanish-language community outreach. Their newcomer program is excellent, and TD Global Transfer covers most Latin American countries.
For Latin Americans establishing themselves in Canada, KOHO's no-fee structure is ideal. The $100 bonus helps offset initial setup costs, and there's no minimum balance required.
| Service | Fee | Top Countries | Speed |
|---|---|---|---|
| Remitly | $0–$3.99 | Mexico, Colombia, Brazil, Venezuela, El Salvador | Minutes–hours |
| Wise | ~0.5–1% | Mexico (MXN), Colombia (COP), Brazil (BRL) | 1–2 days |
| Scotiabank to Scotiabank | $0–$15 | Mexico, Colombia, Peru, Chile | 1–2 days |
| Western Union | $5–$15 | All LATAM countries | Minutes (cash) |
| Xoom (PayPal) | $4.99+ | Mexico, Colombia, Brazil | Minutes–hours |
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Open KOHO — Code: 45ET55JSYAScotiabank has a direct relationship with Mexican banks and often offers competitive rates for transfers to Mexico. For the lowest overall cost, Wise and Remitly both offer excellent MXN exchange rates with low fees. For cash pickup at Oxxo or Bancomer in Mexico, Remitly is particularly well-optimized.
TD Canada Trust has Spanish-language phone banking, and some branches in areas with large Latin American populations (Toronto's west end, Montreal, Vancouver) have Spanish-speaking staff. Scotiabank also has Spanish-language phone support. Call your local branch to ask about Spanish service availability.
Yes, but with limitations. Remitly, Western Union, and some informal channels are the most reliable options. Due to Venezuela's banking restrictions and USD dominance, many transactions are done in USD equivalents. Verify current services directly with providers before sending, as availability changes frequently.
Scotiabank has a limited Brazilian presence compared to its stronger presence in Spanish-speaking Latin America. For Brazilian Canadians, Wise is typically the best option for BRL transfers due to competitive exchange rates. TD Global Transfer also supports Brazil. For everyday Canadian banking, KOHO offers fee-free service.
KOHO currently operates in English and French only. For Spanish-speaking customers, KOHO's app is straightforward enough that language is rarely a barrier for everyday transactions. For more complex banking needs requiring Spanish language support, TD Canada Trust or Scotiabank are better choices.