Send Money To Canada
Transfer Options
Bank transfer- Debit card (UK only)
- BPAY (Australia only)
- Direct debit (U.S. only)
Features
0.4% margin for new customers referred by iCompareFX- Fee-free transfers
- Scheduled transfers
- Online and phone transfers
Best For
Pay no fees for personal transfers- Get competitive exchange rates
- Lets you schedule transfers with ease
Trading in some currencies possible only over the phone- Website access only in English
Transfer Options
- Bank transfer
- Debit card
Features
- Forward contracts and limit orders
- Scheduled transfers
- Travel money solutions for residents of the UK
- Multilingual website
Best For
- Schedule transfers easily
- Make use of hedging tools
- Accepts customers from most countries
- Cannot sign up from all states in the U.S.
Transfer Options
- Bank Transfer
- BPAY (Australia)
Features
- Fee-free transfers
- Competitive exchanges rates
- Limit orders
- Multilingual website and customer service
Best For
- No fees for personal transfers
- Accepts payments in several currencies
- Target specific rates using limit orders
- No debit or credit card payments
- No scheduled transfers
Transfer Options
- Bank Transfer
- Debit / Credit card
- Google / Apply Pay
- POLi (Australia)
Features
- Bank account transfers and cash transfers
- Mobile airtime and mobile wallets top up
- Home delivery of transferred funds
- Multicurrency WorldRemit Wallet
- Multilingual website
Best For
- Transfers to cash pickup locations
- Transparent rates and fees
- Low minimum transfer amount
- No hedging tools
- No scheduled transfers
Transfer Options
- Bank Transfer
- Credit Card
- Debit Card
- Country specific alternatives
Features
- Transparent fee structure
- Send money to email addresses
- Multicurrency account with debit card
- Multilingual website & app
Best For
- User friendly mobile app
- Multi-currency account
- Travel debit card
- No scheduled transfers
- No dedicated account manager
Transfer Options
- Bank transfer
- Debit card
- Credit card
- Bank debit
Features
Best For
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How to send money to Canada
What you will need to send money to Canada
Sending money to Canada from overseas usually requires that you verify your identity by providing details from an acceptable ID document. You will need to provide your bank account or credit/debit card details to pay for your transfer. Your service provider will also need the receiver's Canadian bank account details.
Ways to receive money in Canada
There are multiple ways to receive money transfers in Canada:
- Cash pick-up
- Local bank accounts
- Multi-currency receiving accounts
Cash pick-up
Cash transfers tend to attract higher fees in comparison to bank account transfers. If you wish to transfer funds to a cash pick-up center in Canada, your top alternatives include Xoom, Ria, Western Union, and MoneyGram. Xoom customers in Canada may collect cash from Ria cash pick-up centers.
Here are addresses of a few cash pick-up locations in Canada.
| Ria cash pick-up locations in Canada | |
Montreal: Électrocell Desjardins (inside Complexe Desjardins) 150, Rue Sainte-Catherine O Montreal | SouvenirsTabagie 391, Sherbrooke Ouest Montreal |
Toronto: Money Emporium Inc (Inside of The Sheraton Centre) 123, Queen Street, West Suite C73 Toronto | Gold One Jewellery 21, Carlton St, Suite B Toronto |
| Xoom cash pick-up locations in Canada | |
Montreal: Canada Inc 435, Boul Henri-Bourassa E Montreal | Quebec Inc 1925, Boul Henri Bourassa E Montreal |
Toronto: Ontario Inc 1301, Gerrard St East Toronto | Berman Money Transfer Inc 1444, Dupont St, Unit 1B Toronto |
What is required for cash pick-up in Canada
Your service provider will ask for the recipient's full name and a desired cash pick up location. The receiver may collect the transferred cash by presenting a reference or transaction number along with a valid form of ID document such as a passport or a driver's license.
Local bank accounts
All good international money transfer companies support Canada as a destination country. All Canadian banks are supported as well.
Multi-currency receiving accounts
Some leading money transfer companies offer unique solutions through local virtual Canadian bank accounts. This solution is particularly useful for non-Canadian businesses that have suppliers or customers based in Canada. You can payout and receive payments locally using a multi-currency receiving account. Payments are then transferred internationally at preferential rates when compared to bank wire transfers. By avoiding high banking fees and unfavorable exchange rates, this will save you and your customers money.
The following money transfer companies offer local CAD banking details with a multi-currency account.
| OFX | Global Currency Account |
| WorldFirst | World Account |
| Currencies Direct | Multi-Currency Account |
FAQs
Best way to send money to Canada
Transferring funds directly into a recipient's bank account is the best way to send money to Canada. The best way to pay for your transfer is through your bank account because credit/debit card payments tend to attract higher fees. Some of the top companies that let you send money to Canada include XE, TransferWise, OFX, WorldFirst, and WorldRemit.
Cheapest way to send money to Canada
The cheapest way to send money to Canada is directly into the recipient's bank account, as cash transfers typically come at an additional cost. The most cost-effective payment method is a bank account transfer.
Best way to send money from USA to Canada
The best way to send money from the US to Canada is by selecting a company that has local USD receiving accounts, as this reduces currency conversion costs for you. Examples of companies with local USD receiving accounts include XE, TransferWise, OFX and WorldRemit.
Can Cash App be used in Canada?
No. Cash App is available to UK and US residents only.
Can I send money to Canada with Cash App?
No. Sending money to Canada with Cash App is not supported. Cash App only allows international money transfers between the US and UK. Funds are sent at the real time exchange rate with no additional fees.
Can I send money to Canada with PayPal?
Yes, you can send money to Canada with PayPal. Canadians may use their PayPal accounts to receive money online by using their email address or mobile number. They can transfer money within Canada using their PayPal balances or linked bank accounts. They may also use their PayPal accounts to shop online.
Can I use Venmo to send money to Canada?
You cannot use Venmo to send money to Canada. Venmo only allows transfers within the U.S. as of now.
Does TransferWise work in Canada?
Yes, TransferWise works in Canada. You may use the services of this company to send money to or from Canada. Canadians may pay for their outbound transfers via direct debits, debit/credit cards, wire transfers, or even as online bill payments. TransferIWise offers a multi-currency account for Canadians in the form of its Borderless Account. This account is meant for travelers, expats, sole traders, and freelancers, giving them access to bank account details from different countries.
How can I send money to Canada from USA?
It is very easy to send money to Canada from USA. International wire transfers from US banks and specialist international money transfer companies are viable options. Wire transfers from the big banks can charge up to 5% over the real exchange rate as well as additional fees. However, you can pay as little as 0.4% on USD/CAD transfers and no additional fees with OFX.com.
How do I transfer money to a Canadian bank account?
You will need to give your service provider the recipient's full name, the name of the receiving bank, the recipient's bank account number, a three-digit bank institution number and a five-digit transit number.
How much money can I transfer to Canada?
How much money you may transfer to Canada is essentially up to you because the country has no legal maximum limits on inward remittances. However, you may be subject to limits depending on which service provider you select. If you wish to carry out large-value transfers, consider turning to companies that have no such limits in place. Examples include Global Reach Group and OFX.
Why is Venmo not in Canada?
Venmo limits its operations to the United States. Senders and receivers of all transfers through Venmo need to be physically located within the US.
Can I wire transfer from US to Canada?
Yes, international wire transfers from the US to Canada are possible. However, this is an expensive option. You may benefit by using the services of a specialist money transfer company instead.
Convert USD to CAD
Expect to receive between CA$138.39 and CA$139.23 when sending money from USD to CAD at today's exchange rate.
Compare that to sending money overseas through retail banks. Expect to receive approximately CA$132.8, not including additional banking fees. That is an average saving of CA$6.01.
Need more information?
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