Venmo is a mobile payment service that allows users in the US to send instant money transfers. It’s user-friendly, very popular, and commonly used to split bills and make small payments. So you might be wondering, is Venmo available in Canada?
Is Venmo in Canada?
Can Canadians use Venmo? Unfortunately, the answer is no. Venmo is available in the US only, so you can’t use it in Canada.
But the good news is that there are several alternatives available. If you want to send free instant money transfers via Interac e-Transfer, or if you want user-friendly platforms for buying and selling crypto, here are the top Venmo alternatives in Canada.
Top Venmo alternatives in Canada for free instant money transfers
One of Venmo’s most popular features in Canada are its money transfer service. These Canadian apps offer similar free and low-fee instant money transfers with Interac e-Transfers.
Tangerine's No-Fee Daily Chequing Account offers exactly what its name suggests. It doesn't charge any fees on daily transactions, including e-Transfers, so you can send almost instant transfers just like Venmo, and there's no minimum balance requirement to worry about. It's also easy to manage your funds online via Tangerine's streamlined mobile app and online banking portal.
The EQ Bank Personal Account differs from Venmo in that it is a hybrid bank account that combines unlimited free transactions with an attractive savings interest rate. The standard rate is 1.25%, but you can earn 3.50% for 12 months if you get at least $2,000 a month of your pay directly deposited into your account. And with free e-Transfers included, it's quick and easy to send money to friends and family just like Venmo users can in the USA.
Neo's Everyday Account differs from Venmo by offering the convenience of fee-free daily banking, with the ability to earn cashback on your spending. It includes free e-Transfers and bill payments, and Neo Financial doesn't charge any fees for ATM withdrawals. You can earn cashback at over 12,000 partner retailers across Canada, and it's easy to manage the funds in your account via a highly-rated mobile app.
If you want to send instant transfers just like Venmo, KOHO supports free e-Transfers. But it also offers several extra features compared to Venmo, like paying at least 2.5% interest on your balance or more depending on the KOHO plan you select. Other features include a prepaid card that pays cashback on groceries, transportation and food & drink, and fast international transfers to over 190 countries.
Earn at least 2.5% interest
Earn cashback on your spending
Send fast e-Transfers
Affordable international transfers
Monthly fee (waivable on the Essential plan)
You'll need to pay a high monthly fee to get the highest interest and cashback rates
Simplii's No-Fee Chequing Account supports free e-Transfers for when you need to send money fast. It also supports unlimited transactions with no monthly fee, and you can use a linked debit Mastercard to pay for purchases. And if you need overdraft protection, that's available for an additional cost.
Free e-Transfers
Unlimited transactions
Free access to CIBC ATMs
Attractive welcome bonus
Overdraft protection available
No physical branches
Not available in Quebec
Only pays minimal interest on your balance
Min. Age
18
Min. Age Teen
Account
12
Account
Fee
$0
Overdraft
Fee
$4.97
ATM
Out-of-Network Fee
$1.50
U.S. ATM
Fee
$3
International
ATM Fee
$3
Top Venmo alternatives in Canada for buying and selling crypto
Venmo also offers crypto trading in the US. These platforms offer Canadians similar features compared to what Kraken offers US residents.
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Like Venmo, Coinbase offers a user-friendly app for buying, selling and managing cryptocurrencies. You can trade over 200 crypto assets with Coinbase, and take advantage of instant selling and withdrawals when you want to cash out your holdings. And when you trade on Coinbase, you also get the peace of mind of dealing with one of the world's largest crypto exchanges.
Pros
Supports a much wider range of cryptocurrencies than Venmo
Deposit fund to your account for free via e-Transfer
Kraken is one of the world's oldest crypto exchanges, having been founded in 2011. It supports a much wider range of cryptos than Venmo, allowing you to trade over 270 assets. And like Venmo, it offers a user-friendly app that makes it quick and easy to place buy and sell orders.
Pros
Easy to use
Supports a wide range of cryptos
Also offers advanced features for experienced traders
Supports a wide range of payment methods
Cons
Doesn't support margin trading in Canada
Other platforms have lower fees
Watch out for deposit and withdrawal fees
Deposit methods
Credit card, Cryptocurrency, Debit card, Interac e-Transfer, Wire transfer, Apple Pay, Google Pay
Deposit fees
Interac e-Transfer: 0.5% Apple Pay/Google Pay: variable Crypto: Free for most cryptos Wire transfers: $0-$3 Canada Post cash/debit: $1.25+0.25%
Use code Finder25 to get a 25% discount on all commission for 1 transaction. T&Cs apply.
Like Venmo, the Paybis crypto exchange makes it easy to buy crypto with fiat currency. You can use your debit or credit card to buy over 70 cryptocurrencies, allowing you to get crypto instantly. And with the user-friendly Paybis app at your fingertips, it's simple and straightforward to manage your holdings.
Pros
Easy to use
Quickly turn fiat currency into crypto
Supports more cryptos than Venmo
24/7 customer support
Cons
Watch out for high fees
Can only sell a limited range of crypto assets
Deposit methods
Credit card, Debit card, Apple Pay, Google Pay, SWIFT, AstroPay
Deposit fees
Transaction processing (4.5%) plus a 6.99% - 8.99% fee for debit/credit Other payment methods: fees vary
Withdrawal fees
Transaction processing (4.5%) plus a 6.99% - 8.99% fee for debit/credit Other payment methods: fees vary
Trading fees
$5 USD minimum per transaction
Does Venmo work in Canada?
No, Venmo does not work in Canada — it’s only available in the USA. So if you want to send fast and free payments to friends and family, or buy and sell cryptocurrency, you’ll need to consider Venmo Canada alternatives.
One of Venmo’s main selling points is that it allows you to send money instantly to someone else for free. But as you’re probably already aware, we already have that in Canada with Interac e-Transfers. e-Transfers arrive within minutes, they’re simple to send and receive, and they’re widely available at Canadian financial institutions.
They’re also available with no-fee bank accounts. So if you open an EQ Bank Personal Account or a Tangerine No-Fee Daily Chequing Account, for example, you can send free e-Transfers and not have to worry about any monthly account fees either.
If you’re a US resident with a Venmo account, you might be wondering if you can use Venmo while vacationing in Canada.
The answer is no. You can’t sign in to your Venmo account when you are outside the US. So if you need to send a payment while in Canada, you’ll need to consider other payment providers — Venmo’s support page suggests creating an account with its parent company, PayPal.
Can you download the Venmo app in Canada?
No, the Venmo app is not available for download in Canada. If you’re searching for an app you can use to transfer money or buy crypto, you’ll need to consider other options.
Is Venmo available in any country outside of the US?
No, Venmo is only available in the USA. You’ll need to be physically located in the United States to use Venmo.
You can only open a Venmo account if you’re a resident of the United States or one of its territories and at least 18 years old or the age of majority in your state.
Venmo meaning: What does it mean to “Venmo” someone?
To “Venmo” someone means to send them money using the Venmo app. Venmo is a peer-to-peer mobile payment service that makes it quick and easy to send money to other people. It’s commonly used to split bills between friends and family or pay for shared purchases.
So if someone says they will “Venmo” you, this means they will send money to your Venmo account.
How does Venmo work?
Venmo offers the following products and services to users in the USA.
Mobile payments
Venmo offers fast and easy mobile payments, allowing you to send instant transfers to friends and family. It’s free to send money from a linked bank account, debit card or your Venmo account, but there’s a 3% fee when you send money using a credit card. You can also use Venmo to pay for purchases online, in-store and in apps.
Many of the accounts featured in our list of Venmo alternatives offer similar features. Chequing accounts like the Tangerine No-Fee Daily Chequing Account and the Simplii Financial No-Fee Chequing Account support free e-Transfers, while they also offer debit cards that you can use to pay for purchases.
Direct deposit
You can choose to have your pay direct deposited into your Venmo account. If you do so, you could receive your paycheque up to two days earlier than if you have it sent to your bank account.
If you need some extra funds to help you get through to your next payday, check out our guide to 10 apps like Venmo in Canada.
Venmo Debit Card
The Venmo Debit Card allows you to spend using your Venmo balance. You can earn up to 15% cashback on your purchases, and Venmo doesn’t charge any international purchase fees. Venmo also offers a Teen Debit Card with no monthly fee, and with the ability for parents to track spending and set card limits.
Simplii Financial and Tangerine offer convenient debit cards on their chequing accounts. And if you want to earn cashback on your spending, prepaid cards from EQ Bank, KOHO and Neo allow you to do exactly that.
Venmo Credit Card
The Venmo Credit Card pays up to 3% cashback on eligible purchases, and there’s no limit to the amount of cashback you can earn. There’s also no annual fee to worry about, and the card can be added to Apple Pay, Google Pay and Samsung Pay.
If you’re searching for credit cards like Venmo in Canada, there are plenty of options worth checking out. The BMO eclipse rise Visa Card has no annual fee and a 0.99% introductory rate on balance transfers for the first 9 months. It also allows you to earn five times as many BMO Rewards points for every $2 you spend on recurring bill payments, groceries, dining and takeout.
The Neo Financial Mastercard offers up to 6 cashback on gas and groceries, depending on your Neo Money Account balance. It’s also available with no annual fee.
The RBC Cash Back Mastercard is another popular option that offers unlimited cashback and a $0 annual fee. It also offers fuel savings at Petro-Canada along with a range of other perks.
Cryptocurrency
You can start trading crypto with as little as $1 on Venmo. You can use the app to buy and sell popular crypto assets like Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Solana, Chainlink and PayPal USD, while the cashback you earn from the Venmo Credit Card can also be used to automatically purchase crypto.
Coinbase, Kraken and Paybis are three Venmo alternatives in Canada that all support a wider range of cryptocurrencies. These three providers all support multiple deposit methods too, and they offer user-friendly apps to make it quick and easy to buy and sell crypto.
Bottom line
While you can’t use Venmo in Canada, there are several great alternatives worth checking out. So whether you want to send fast transfers or buy and sell crypto, compare a range of options to find the best alternative to Venmo for your transaction needs.
Frequently asked questions about Venmo
No, Canadians cannot use Venmo. You’ll need to be a United States resident and physically located in the US to use Venmo.
The CDIC is a federal Crown corporation responsible for protecting Canadians’ savings. When you deposit money into an eligible account at a CDIC member institution, up to $100,000 you deposit is covered by CDIC insurance in case the bank fails.
The best bank account for you will vary depending on factors such as the type of transactions you perform, how many transactions you perform, and whether you need branch and ATM access. You might also want to compare the best bank account offers to take advantage of a welcome bonus when you open an account.
No, you can’t use Venmo in Canada. You’ll need to be physically located in the United States to access your Venmo account, so you’ll need to consider other payment services if you want to send money from Canada to the US.
Tim Falk is a freelance writer for Finder. Over the course of his 15-year writing career, he has reported on a wide range of personal finance topics. Whether you're investing in stocks and ETFs, comparing savings accounts or choosing a credit card, Tim wants to make it easier for you to understand. When he’s not staring at his computer, you can usually find him exploring the great outdoors. See full bio
Tim's expertise
Tim has written 458 Finder guides across topics including:
Explore the best cash back apps Canada has to boost savings and make smart everyday purchases.
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