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Save up to 5% when you transfer money with MTFX

Transfer money with MTFX International Money Transfers.

This product is not currently available via Finder. Visit the provider's website directly, or compare other options.

MTFX operates in both Canada and the United States, and runs its Canadian headquarters out of Markham, Ontario (where it was founded in 1996). With an annual turnover of over $6 billion, MTFX offers competitive exchange rates and low transfer fees on a secure online platform. Since 1996, MTFX has become a leader in online foreign exchange services – managing over 100,000 transfers per year and offering both personal and business clients the best possible services and solutions. Canadians trust MTFX to transfer funds to over 100+ countries around the world.

How much does it cost to transfer money with MTFX ?

MTFX offers currency exchange rates that are 2-5% better than those offered by banks. Exchange rates fluctuate based on the mid-market rate (the rate that banks use to trade currency). The following comparison chart demonstrates how MTFX stacks up against another mid-size reputable money transfer provider.

CAD$1 inMTFXWise

Rates as of 14 April 2018

MTFX offers a transfer fee of $15 for transactions less than $10,000, with fee-free transfers for any amount over $10,000.

How do I send money through MTFX ?

Sending money with MTFX is a quick and easy process which takes only a few minutes from start to finish, with no obligation. Once you sign up, you’ll be assigned a currency specialist to help you with every aspect of your transaction. Follow this user-friendly process to send funds overseas:

  1. Register for a free account. Input personal details into a simple online form and provide copies of identification for verification purposes.
  2. Enter recipient and payout info. Enter recipient details, including name, address, account number and SWIFT code.
  3. Fund your money transfer. Funds can be transferred via wire transfer, Electronic Funds Transfer (EFT) or using Automated Clearing House (ACH) payment services for US-based funds.

What types of transfers can you carry out with MTFX?

MTFX offers several options for sending money overseas. Send an international money transfer immediately, or save money by booking your desired exchange rate for future transactions.

  • Single transfers. Book a single transaction with up-to-the-minute exchange rates.
  • Forward contract. Purchase currency for transfer at a later date to lock in your desired exchange rate.
  • Limit order. Set a target rate for your transaction and MTFX will book the transfer when the market reaches that rate.

    Pros and cons of using MTFX


    • Competitive exchange rates. MTFX offers currency exchange rates that are 2-5% better than those offered by banks.
    • Fast processing times. Funds are typically received by your beneficiary within 24-48 hours of payment receipt.
    • Top-notch customer service. Dedicated Canadian customer service agents can answer a wide variety of questions at 1-800-832-5104.


    • No in-branch customer service. MTFX has no physical retail locations in Canada and offers only an online service (although headquarters are based out of Markham, Ontario).

    Compare Xpress Money to other 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 - 8 of 8
    Name Product _compare_ Filter Values Fastest Transfer Speed Fees (Pay by Bank Transfer)
    Wise (TransferWise)
    24 hours
    From 0.41%
    Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies.
    Xe Money Transfers
    Within minutes
    Xe has fast transfers with low fees and a range of foreign currency tools.
    Within minutes
    From $0
    Use code HELLO to get $20 off on first two transfers on a min transfer of $250. Valid until November 30, 2023.
    Instarem offers zero transfer fees on all transfers.
    Within minutes
    From $0
    Send money in CAD to Africa on this blockchain and P2P powered provider.
    Finder Award
    Within minutes
    From $0
    Special offers like free transfers and better exchange rates available for new customers.
    Remitly has quick, affordable transfers around the world, with both express and economy options.
    Within minutes
    From $0
    Use promo code 3FREE and pay no fees on your first 3 transfers. Conditions apply.
    WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.
    Finder Award
    Within minutes
    From $4.99
    For a limited time, get $0 fees on your first money transfer from Canada. Conditions apply.
    MoneyGram has fast cash pick-up transfers to more than 350,000 agent locations worldwide.
    Finder Award
    24 hours
    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 50+ currencies.

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