ATM exchange rate for Canadian Dollar - ScotiaBank

I withdraw from SB maybe 10 times each year. I use my Tangerine ATM card. (Tangerine is a wholly owned subsidiary of SB.)

After going through the steps to withdraw, the ATM displays an exchange rate and asks whether I accept. Somewhere on the screen it notes that this is a 14% markup. That’s right. 14%.

It asks whether I accept the exchange rate. I always say “No’. I let Tangerine do the conversion. On a M$10,000 withdrawal, I have sometimes saved C$100.