🇨🇱 This is the brand hub for Scotiabank Chile. For the bigger picture on pesos, the casas de cambio, and why USD is not accepted in Chile, see the Chile Money Guide. For exact ATM areas and the fee-beating playbook, see the Santiago ATM Guide. For card acceptance by district, see the Santiago Money Guide. For a big domestic network, see the Banco de Chile guide. Flying in? Arturo Merino Benítez (SCL) guide.
🧾 Order Pesos Before You Fly
Chile's ATM fees are steep, so a peso float means one or two fewer expensive withdrawals. Insured 2–5 day US delivery, rate below the airport counters.
Order Pesos → CEI Currency ExchangeWhat Scotiabank Chile is, in one paragraph
Scotiabank Chile is the Chilean subsidiary of Canada's Scotiabank (the Bank of Nova Scotia), substantially enlarged by its 2018 merger with Banco BBVA Chile, and today one of the larger banks in the country with a solid ATM presence in Santiago, Valparaíso, Concepción, and the other main cities. For most foreign banks it behaves like any Chilean bank, but it has one feature none of its local rivals share: it is the Bank of America Global ATM Alliance partner in Chile, with around 115 partner ATMs. That single fact makes its red cajeros the fee-free choice for the large number of American travelers who carry a BoA debit card, which matters more here than almost anywhere because Chile's local foreign-card ATM fee is one of the steepest in the Americas.
The Alliance advantage: why a BoA card is free here
The Bank of America Global ATM Alliance is a reciprocal network of overseas banks where BoA customers withdraw without the usual penalties. In Chile, Scotiabank Chile is that partner. Use a BoA debit card at a Scotiabank ATM and two charges disappear: Scotiabank waives its own operator surcharge (the CLP 6,000 to 8,000 that stings on every other Chilean machine), and BoA waives its $5-or-3% non-network fee. You are left paying only BoA's international transaction fee of about 1 percent on the converted amount, at the interbank rate. In a country where the local ATM fee is unusually high, that waiver is the single biggest saving available, and it is the reason a BoA cardholder should seek out the red Scotiabank machine rather than the nearest Banco de Chile or standalone unit.
The catch is that the waiver is specific to Bank of America cards in the US Alliance program. A card from any other US bank gets no Alliance benefit at Scotiabank; it pays Scotiabank's normal operator fee plus its own bank's charges, exactly as it would at Banco de Chile.
What Scotiabank Chile charges, by card
| Your card | What you pay at a Scotiabank ATM | Notes |
|---|---|---|
| Bank of America debit (Alliance) | ~1% only (BoA international fee), interbank rate | Surcharge and non-network fee both waived |
| Wise / Schwab debit | Interbank rate; Schwab refunds the operator fee | No FX markup; cleanest all-rounder |
| Other US bank debit | ~CLP 6,000-8,000 operator fee + your bank's 1-3% FX + ATM fee | No Alliance benefit; same as Banco de Chile |
| Any card accepting DCC | +5-12% on top | Always decline; choose pesos, not US dollars |
Scotiabank posts its operator fee on screen before you confirm. The peso is freely convertible, so you can pre-order a first-day float. Because the fee is flat per withdrawal, take the maximum each time. BoA's Alliance waiver is the standout reason to use this bank in Chile.
Where to find Scotiabank Chile
Arturo Merino Benítez arrivals
The red Scotiabank cajero in the new SCL Terminal 2 is the fee-free first stop for BoA cardholders, away from the standalone machines and exchange counters. See the SCL airport guide.
Providencia & Las Condes
Scotiabank branches and ATMs through Providencia, El Golf, and the Las Condes financial district, plus Costanera Center and Parque Arauco. Mapped in the Santiago ATM Guide.
Valparaíso & Viña del Mar
Scotiabank ATMs in Valparaíso and Viña del Mar; useful before heading along the coast, where smaller-network machines thin out.
Concepción, La Serena, Temuco
A solid presence in the larger cities, though the network is smaller than the big domestic banks, so do not count on a Scotiabank machine in small towns or the far south.
Worth a short detour
If you bank with Bank of America, it is well worth walking a block to a Scotiabank machine rather than paying 3% plus Chile's steep operator fee at the nearest Banco de Chile.
Branch & mall machines
Use Scotiabank ATMs inside branches, lobbies, or malls rather than street-facing standalones, and pull during the day in busier districts.
Scotiabank Chile vs Banco de Chile: the actual decision
| Scotiabank Chile | Banco de Chile | |
|---|---|---|
| BoA Global ATM Alliance partner | Yes (the only one in Chile) | No |
| Cost on a BoA card | ~1% only | ~CLP 6,000-8,000 + BoA 3% |
| Cost on a non-BoA card | ~CLP 6,000-8,000 + your fees | ~CLP 6,000-8,000 + your fees |
| Network size in Chile | Major, good in cities | One of the widest |
| Best for | Bank of America cardholders | Everyone else, and wide coverage |
Decision tree: carry a Bank of America card and Scotiabank Chile is clearly your cheapest cash, effectively just the 1% international fee, which is a real win where the local fee runs CLP 6,000 to 8,000. Carry anything else and the two banks cost about the same, so default to Banco de Chile for its wider network, and pair it with a Schwab card to refund the fee. Whichever you use, take pesos not dollars, withdraw the maximum, and decline DCC.
Best card pairing with Scotiabank Chile
BoA for the Alliance, Wise and Schwab for everything else
If you bank with Bank of America, Scotiabank Chile is your fee-free ATM, so bring that card for cash. For purchases and as a backup, a Wise debit card gives zero FX markup and the interbank peso rate, and a Charles Schwab card refunds Scotiabank's operator fee if you ever use a non-Alliance machine, neutralising Chile's steep fee. Take pesos not dollars, withdraw the maximum, and decline DCC every time.
Get the Wise Card →Bank of America debit (the Alliance win)
This is the one Chilean bank where a BoA card is cheap. The Alliance waives Scotiabank's surcharge and BoA's non-network fee, leaving roughly a 1% international fee at the interbank rate. Given Chile's high local fee, the saving is larger here than in most countries. Withdraw the maximum and decline DCC.
Charles Schwab Investor Checking
Not in the Alliance, but Schwab refunds ATM operator fees worldwide, so even at a non-Alliance Scotiabank or Banco de Chile machine your cash is effectively free, despite Chile's steep CLP 6,000 to 8,000 fee. A strong all-rounder if you do not bank with BoA.
Frequently Asked Questions
Is Scotiabank Chile in the Bank of America Global ATM Alliance?
Yes, it is the partner in Chile, with about 115 ATMs. A BoA debit card withdraws pesos with no Scotiabank surcharge and no BoA non-network fee, paying only ~1% international. No other Chilean bank offers this.
What does Scotiabank charge a non-BoA foreign card?
A posted ~CLP 6,000-8,000 operator fee at the interbank rate, plus your home bank's charges, same as Banco de Chile. Take the maximum each time. A Schwab card refunds the operator fee; a Wise card removes FX markup.
What is Scotiabank Chile?
The Chilean arm of Canada's Scotiabank, enlarged by the BBVA Chile merger, a major bank with good city coverage, defined for travelers by its BoA Alliance membership.
Where do I find it at the airport and in Santiago?
The red cajero in SCL arrivals, and across Providencia, Las Condes, and the main malls. Use branch and mall machines, decline DCC, take pesos.
Will my US debit card work at Scotiabank ATMs?
Yes, with a Visa, Mastercard, Plus, or Cirrus logo on the Redbanc network. Spanish/English option, 4-digit PINs. BoA cards get the fee waiver; others pay the posted fee.
Should I use Scotiabank or Banco de Chile?
BoA cardholders: Scotiabank, for the free withdrawal. Everyone else: Banco de Chile for its wider network, paired with a Schwab card to refund the fee.
Scotiabank + BoA Alliance, or Wise + Schwab
BoA card free at Scotiabank via the Alliance; otherwise Wise for the real rate and Schwab to refund Chile's steep operator fee.
Get the Wise Card →