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Bank of Nova Scotia
Symbol BNS
Shares Issued 1,244,435,686
Close 2024-12-02 C$ 79.79
Market Cap C$ 99,293,523,386
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Globe says Scotiabank card can help with weak loonie

2024-12-03 07:42 ET - In the News

The Globe and Mail reports in its Tuesday edition that many Canadians are re-evaluating their travel plans because of the challenges posed by a weakening loonie and economic uncertainty. The Globe's Mariya Postelnyak writes that last week, president-elect Donald Trump promised to impose a 25-per-cent tariff on imports from Canada and Mexico. Travellers are changing their plans. According to data from trip-booking site Expedia, domestic travel interest for winter 2024-25 has surged, in particular, Vancouver, Victoria and Quebec City. For those who do choose to travel abroad, reducing currency exchange fees is a key consideration. Another thing that can really burn travellers already facing a weak loonie is paying with a regular credit card abroad, said Jason Heath of Objective Financial Planners. Mr. Heath recommends really digging into travel cards that charge no foreign transaction fees. "You can also buy prepaid travel cards with different currencies ahead of time -- Scotiabank's Passport Visa Infinite Card has no foreign transaction fees, for example." Mr. Heath said Canadians looking to travel abroad can also benefit from a weakening Mexican peso, which dropped relative to the Canadian dollar this year.

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