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Find the best way to send money to Canada

Learn how to send money to Canada in our step-by-step guide.

Looking for the best way to send money to family, friends or businesses in Canada (or even to your own overseas bank account)?

Don’t head straight to your bank – compare specialist money transfer services instead. They nearly always offer better CAD exchange rates and lower fees. So, for whatever amount you send, your recipient will receive more Canadian dollars.

Of the companies we’ve compared, WorldRemit is among the cheapest, with competitive exchange rates and low starting fees. Need a really fast transfer? WorldRemit can get money to your recipient in Canada within minutes.

4 options to send money online to Canada

These services provide some of the best ways to send money to Canada:

  1. WorldRemit
  2. MoneyGram
  3. Xe
  4. OFX

1. WorldRemit


WorldRemit has helped more than 5.5 million customers worldwide send money internationally. Since its founding in 2010, WorldRemit has expanded to have one of the largest selections of destination countries – including Canada. Some other nice perks is that it accepts a variety of payment options and provides 24/7 customer support in 6 different languages.

  • Costs: A base fee of $2.99-$4.99 will be charged for most transfers. The total fee you’ll pay will vary based on where you’re sending the money, the type of transfer and the payment method. The exchange rate markup typically ranges between 0% and 2.9% and is dependent on the currency.
  • Payment options: Credit card, Debit card, Bank transfer, Apple Pay
  • Receiving options: Cash pickup location, Bank account, Mobile wallet, Home delivery, Prepaid phone credit
  • Customer service: Phone, Live chat
  • Maximum transfer amounts: $40,000
  • Number of currencies: 70
  • Mobile app: Yes (iOS and Android)
  • Fully online transfer platform available
  • Cash pick-up available at 100,000s of locations
  • Instant transfers available
  • Can transfer directly to mobile wallets
  • Supports many rare currencies
  • Mobile credit top-ups only available for select countries
  • Transfer limit from Canada is $40,000 CAD within 24 hours with a maximum $4,000 CAD in a single transaction

2. MoneyGram


MoneyGram has been in business for over 80 years and has become one of the most well-known brands for money transfers in Canada. MoneyGram enables money transfers to more than 200 countries and supports bank account transfers, mobile wallet deposits, home delivery and even cash pickup at 430,000+ locations worldwide. You can send money transfers as small as $1 and up to $990.

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  • Costs: Both the exchange rate markup and transfer fee will vary based on how you pay for your transfer. Transfer fees may be higher if you pay for the transfer with your debit or credit card.
  • Payment options: Cash, Credit card, Debit card, Bank transfer
  • Receiving options: Cash pickup location, Bank account, Mobile wallet, Home delivery
  • Customer service: Phone, Email
  • Maximum transfer amounts: $990
  • Number of currencies: 136
  • Mobile app: Yes (iOS and Android)
  • Transfers to 200+ countries around the world
  • Fully online platform
  • Mobile wallet deposits available
  • One of the largest currency offerings
  • Nearly instant transfer speeds
  • High transfer fees
  • Online transfer limit of $990 (can send more in person at an agent location)
  • Larger exchange rate markups compared to smaller transfer companies



XE was founded in 1993 and is headquartered in Ontario, Canada. It enables money transfers to 200+ countries in 100+ different currencies. Xe was founded in 1993 and then acquired in 2015 by major European securities trading company, Euronext. It has offices in Australia, New Zealand, the UK, the US and in other countries around the world.

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  • Costs: Transfers under $500 CAD are charged a $3 fee. While the exchange rate markup varies depending on the currency pair, but we found it typically ranges at around 1% or less for popular destinations.
  • Payment options: Credit card, Debit card, Bank transfer
  • Receiving options: Bank account
  • Customer service: Phone, Live chat, Email
  • Maximum transfer amounts: $750,000 online (no max offline) 
  • Number of currencies: 100
  • Mobile app: Yes (iOS and Android)
  • No-fee for transfers over $500
  • Most transfers are completed in minutes
  • Competitive exchange rates
  • Works with 100+ currencies
  • High maximum transfer cutoff of $750,000 online (no max offline) 
  • No option to pay in cash or pick up in cash
  • Exchange rate comparison tool only available to registered customers
  • Bank-to-bank transfers only

4. OFX


OFX (also known as Forex) has been in business for over 20 years helping people transfer money in 52 currencies. It has offices in Canada, Australia, the US and five other countries across the world. A nice perk of opting for OFX is that it offers advanced tools to help you get the best exchange rate. Most OFX money transfers to Europe take 1-2 business days to be delivered.

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  • Costs: A flat fee of $15 applies to all transfers below $10,000, with no fee for any transfers above that amount. There’s also an exchange rate markup of typically around 1.5% or less on the mid-market rate.
  • Payment options: Debit card, Bank transfer
  • Receiving options: Bank account
  • Customer service: Phone, Email, In person
  • Maximum transfer amounts: Unlimited
  • Number of currencies: 52
  • Mobile app: Yes (iOS and Android)
  • No fees on transfers above $10,000
  • Unlimited maximum transfer limit
  • Streamlined online transfer platform
  • More than 115 banks in the OFX network
  • Only accepts bank transfer and debit card payments
  • Can’t send small amounts (minimum transfer is $250 CAD)

Summary: Options for sending money online to Canada

Transfer serviceFee for bank transferTransfer amountFastest transfer speed
WorldRemitFrom $0$1 – $40,000Within minutes
MoneyGramFrom $4.99$1 – $990Within minutes
Xe$0$1 – $750,000 online (no max offline) Within minutes
OFX$0$250 – Unlimited24 hours

What is the cheapest way to send money to Canada?

The cheapest way to send money to Canada is via a bank transfer through money transfer services, like WorldRemit and Xe Money Transfers, which have lower transfer fees compared to alternatives.

Some providers may charge the mid-market rate but add fees on top. Others may have very low fees but apply a markup on the exchange rate.

When you’re hunting down the cheapest ways to send money to Canada, look at the overall cost of your transfer. To do that, consider these factors:

  • Transfer fees. While likely still cheaper than your bank, some money transfer services charge either a fixed or percentage-based fee for making your transfer.
  • Exchange rates. Another way money transfer providers make money is to add a margin to the mid-market exchange rate.

What is the fastest way to send money to Canada?

Some of the providers offering the fastest average transfer speeds to Canada are WorldRemit (transfers within minutes), MoneyGram (within minutes) and Xe (within minutes). Many online providers can offer transfers to Canada nearly instantly, although you may pay a premium for the convenience.

The actual time it takes for a transfer to Canada to fully process can depend on several different factors including transfer amount, payment method and currency.

What is the safest way to send money to Canada?

The safest way to send money to Canada is to use a provider registered with Canada’s industry regulator, the Financial Consumer Agency of Canada. All of the companies we’ve compared here are overseen by a local regulator and comply with the relevant laws and regulations in Canada.

A great way to dive deeper is by reading our extended reviews of each transfer service and researching first-hand customer feedback on Trustpilot and similar platforms.

Steps to send money to Canada

To send money to Canada, you’ll need the necessary documentation, your recipient’s details and a way to pay. Follow these steps to safely and quickly transfer money to Canada:

  1. Compare your options.
    Use our table to find a money transfer provider that sends funds to Canada. One may be better for cash pickups while another may suit a bank transfer. Once you’ve found the best one for your requirements, click “Go to site”.
  2. Create an account.
    You’ll need to give your name, address, contact details, proof of ID and method of payment.
  3. Provide your recipient’s details.
    Enter your recipient’s name and contact information. If you’re sending straight to their Canadian bank account, you’ll need the account number, SWIFT or IBAN plus their bank branch’s address.
  4. Enter your transfer amount.
    Check you’re happy with the fees, exchange rates and transfer speed, then enter the amount you wish to send. Double-check the total Canadian dollars your recipient gets.
  5. Complete your transfer.
    Send your money transfer to Canada. Keep your transaction reference number safe so you can track your transfer. Your recipient may need it too.

What information do I need to send money to Canada?

  • Photo identification: Most providers require a driver’s license, passport or other government-issued ID.
  • A way to pay: Your options depend on the provider’s services. Popular methods include cash, debit or credit card and bank account transfers.
  • Recipient information: You’ll need their name (matching their ID) plus contact details. If sending to a Canadian bank account, you’ll need their account number, SWIFT and branch details.

What information do recipients need to accept money in Canada?

  • Transfer number: The reference number (sometimes called a PIN, MTCN or tracking number).
  • Government-issued ID: An official ID, such as a passport or driver’s license.
  • The transfer amount: To know how much has been sent, usually to within 10% of the total.
  • Sender information: The sender’s name and address and the transfer’s country of origin.

What payment methods can I use to send money to Canada?

Each money transfer service will accept its own unique list of payment options for your money transfer to Canada. Still, you can expect most providers to accept transfer payments from at least debit cards, credit cards and bank transfers.

Some transfer services may also allow direct debits, online bill payments, Interac Online and Interac e-Transfers. Some companies, like WorldRemit, may even allow you to pay for your money transfer using Apple Pay.

Transfer options for sending money to Canada

The best way to send money to Canada depends on your payment method, how you want your money to be received and how fast you need it to arrive.

  • Online money transfer provider. When buying Canadian dollars money transfer specialists typically offer better rates and cheaper fees than a local bank.
  • Bank-to-bank transfer. Bank transfers are an easy way to send money to Canada but they charge extra for the convenience and are often slower than other methods.
  • Cash pickup. If you need your money to arrive fast, cash pickup gives your recipient instant access to the money you’ve sent when they collect it from their agent location in Canada.
  • Mobile wallet. Mobile wallets allow users to store, send and receive eligible currencies using their phone, often with fees attached.
  • Prepaid phone credit. Specifically used to top up a recipient’s prepaid mobile phone plan, prepaid phone credit is usually added instantly or within a few minutes.
  • Home delivery. If your recipient may struggle to get to a cash pickup location, you may be able to opt for door-to-door cash delivery.

Benefits of using transfer services for large transfers to Canada

If you need to make a sizable money transfer to Canada, consider using a provider such as OFX to benefit from its expertise in handling larger transfer amounts.

Using a large transfer specialist can have the following advantages:

  • Tax guidance. Large transfers to Canada may have tax implications for you or your recipient. A transfer specialist can help get you up to speed on CRA’s latest advice.
  • Foreign exchange (forex) tools. Advanced tools such as forward contracts, limit orders and stop-loss orders can help you lock in the CAD exchange rate you want.
  • Account manager. Some money transfer providers assign a personal account manager who can help and advise you on your transfer needs.
  • Phone service. If you want help with your transfer, providers such as OFX and WorldRemit can give you support over the phone.

Example: Ethan sends money to Canada

Ethan is working in the UK as a financial analyst and he stays in regular contact with his elderly parents back home in Canada. His parents need some funds to help pay off a mortgage, so Ethan plans to send them £2,000 from the UK to Canada.

Here is an example breakdown of how much a money transfer to Canada from the UK may cost.

Money transfer company
Exchange rate£1 GBP = $1.682 CAD
Transfer fee£0.99 GBP
Transfer methodBank transfer
Processing time2 business days
Total to pay£2,000.99 GBP

The money transfer company only charges Ethan an extra £0.99 to transfer money straight to his parents’ Royal Bank of Canada account.

How to compare the best transfer services to send money to Canada

When choosing a money transfer provider to send money to Canada, it’s important to consider the cost, how you want your recipient to receive the funds and the turnaround time. Here are other features to review:

  • Exchange rates. Banks and transfer services use the mid-market rate to trade with one another. It is the best rate you can get. However, not all money transfer providers offer you this mid-market rate so compare the CAD you’re offered to the mid-market rate and look for the smallest difference.
  • Transfer fees. Are you being charged a flat fee or a percentage of your transfer amount? For example, a provider offering to transfer your money to Canada for a flat or low fee might work out better if you plan to send a large amount.
  • Transfer type. Does your recipient have a Canadian bank account or is cash or cell phone top-up a better option? Each transfer type will have different fees. For example, instant cash pickups tend to be more expensive than bank transfers.
  • Transfer speed. If you need your transfer to arrive quickly, you can pay for an express delivery. Companies such as MoneyGram offer instant cash pickups but may charge more. If you’re not in a rush, online money transfer services offer the best value and get your money to Canada faster and cheaper than banks.
  • Transfer limits. Find out how much you can send with each service. For example, Xe Money Transfers has a transfer limit of $750,000 online (no max offline)  while WorldRemit allows transfers up to $40,000.
  • Discounts. Some providers may offer you a free transfer simply for signing up. Others may offer a discount if you transfer more than a specific amount of Canadian dollars.

Compare details of money transfer companies to send money to Canada

Use our table to compare the best money transfer companies to send money to Canada. You can compare deposit and receiving options, fees and transfer speeds, then click the “Go to site” button when you’ve found the best one to get your money to Canada.

Name Product Offer Filter Values Fastest Transfer Speed Fees (Pay by Bank Transfer)
Xe Money Transfers
Within minutes
Xe has fast transfers with low fees and a range of foreign currency tools.
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.
Xe Money Transfers
Within minutes
Xe has fast transfers with low fees and a range of foreign currency tools.
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.
Within an hour
Loop has 1 day transfers and low FX rates.
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We only list services that are overseen by a government regulator.
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Every service we compare has been assessed and reviewed by our editorial team.

Explore our guides for sending money from Canada to other countries

Frequently asked questions about sending money online to Canada

Written by

Leanne Escobal

Leanne Escobal is a publisher for Finder. She has spent over 11 years working on financial products and services, specializing in content and marketing. Leanne has completed the Canadian securities course (CSC®) as well as the personal lending and mortgages course by the Canadian Securities Institute. She has a Bachelor of Arts (Honours) in English literature and creative writing from Western University. See full profile

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