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Best international money transfer apps

Our top picks for the best money transfer app in Canada.

Promoted

XE Money Transfers

XE Money Transfers logo
  • Send money overseas in just one day
  • More than 40 different currencies available
  • Low transfer fees
  • Keep track of your transaction 24/7 online
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When it comes to sending money overseas, banks aren’t your only option. You’ll often get lower fees and more convenient transfer options with a money transfer app.

We’ve scoured the market to find the best international money transfer apps, comparing transfer fees, exchange rates, speed, user friendliness and more. Here are our top picks.

1. XE Money Transfers

Best for sending free or low-fee transfers: XE Money Transfers

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Min. Transfer Amount
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Transfer Speed
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Online Fee
  • Free for transfers over $500 (otherwise a fee applies)
  • Same-day delivery for some transfers
  • Competitive exchange rates
  • No cash pick-up option
  • Some destinations not supported (incl. China, Cayman Islands and Egypt)
With a high maximum transfer amount and no fees for transfers over CAD500, XE Money Transfers are cost effective if you send funds frequently. But if you need to send cash or pay in cash, you'll have to look elsewhere.

Rated 3.6/5 on Google Play and 4.4/5 on the Apple App Store

How do I find the best money transfer app?

Consider the following factors when comparing the value and quality of money transfer services:

Foreign exchange graphic: Currency symbols in a circle

Exchange rates

  • Mid-market rate. This is the “true” exchange rate between a pair of currencies (without any fees deducted for transfer services).
  • Exchange rate markup. Many transfer services deduct a small percentage of the midmarket rate as a fee.
  • Exchange rate vs fees. Pay attention to both fees and exchange rates. Some services offer $0 fees but charge a wide margin on the exchange rate.

Fees graphic: Calculator and money bag

Fees

  • Transfer fee. Can be a flat fee, percentage fee or even free.
  • Transfer amount. Percentage fees add up for large transfers. Some providers waive the fee at a certain threshold.
  • Payment method. Credit card payments can be expensive. Paying by bank transfer is often cheaper.
  • Receiving fee. Your recipient’s bank may charge a fee for receiving funds.

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Speed

  • Financial network. Money typically passes through a complex network of intermediary banks to get to its destination. This impacts the speed of the transfer.
  • Transfer methods. Cash transfers often arrive quicker than bank wire transfers.
  • Time of transfer. Your transfer may be delayed if you send on weekends or holidays.

Cybersecurity icon showing a lock in a network of nodes

Security

  • Encryption and account protection. Transfer services often use SSL certificates to encrypt user data and multi-factor authentication to prevent unauthorized access to accounts.
  • Customer reviews. Find out which money transfer apps are reputable by checking out real customers reviews on sites like Trustpilot or the Better Business Bureau (BBB).

Compare money transfer services

Our table below lets you compare services you can use to send money abroad. Compare fees, exchange rates and discounts from different money transfer services, and when you have made your choice, click Go to site.
1 - 4 of 4
Name Product Filter Values Fastest Transfer Speed Fees (Pay by Bank Transfer) Learn More
Dunbridge Financial
24 hours
$0

View details
Dunbridge Financial offers competitive exchange rates and zero fees on transfers to more than 120 countries.
OFX
24 hours
From $15

View details
Exclusive offer: Discounted exchange rates for your first and ongoing transactions. $0 transfer fee.
OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.
XE Business Transfers
XE Business Transfers
Within minutes
$0

View details
XE Money Transfer can help your business unlock international transfers. Forward contract and limit order options available.
CurrencyTransfer
24 hours
$0

View details
CurrencyTransfer lets you shop around for the best exchange rate on its online marketplace.
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Compare up to 4 providers

Bottom line

To find the best international money transfer app, you need to look at fees, exchange rates, transfer options, speed and safety. Consider whether you’ll be sending small or large transfers, how often you need to send money, and which payment methods are the most convenient for you. To learn more about sending money overseas, check out our guide to international money transfers.

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