How to Send Money Within Canada Cheaply

Send more money to friends and family within Canada using the right service.

Sending money within Canada has never been easier. With national banks servicing many of the provinces and territories and specialist money transfer companies allowing money transfers within the country, there are plenty of affordable and cost-effective solutions.

Whether you use a bank or a service provider like Western Union or MoneyGram to send your funds, you should consider both your personal factors and your recipient’s before you lodge a transfer. Compare important factors like fees and transfer speeds to determine the right service for you.

Get more value for money by comparing options in the table below

Rates last updated May 25th, 2018
Name Product Min. Transfer Amount Transfer Speed Services Description Online Transfer Fee Rate Amount Received
TorFX International Money Transfers
USD 150
1 day
Online, Phone, Agent
TorFX guarantee to beat any competitor's exchange rate for a transaction. Conditions apply.

Send money overseas in 45 currencies.
Exclusive: OFX (Ozforex) International Money Transfers
USD 150
1 day
Online, Phone, Agent
Exclusive offer: Discounted exchange rates for your first and ongoing transactions. $0 transfer fee.
A higher exchange rate applies to non-finder customers. Send money in 45 currencies.
Exclusive: World First International Money Transfers
USD 250
1 day
Online, Phone
Exclusive offer: $0 transfer fee and discounted exchange rates for your first trade only.
A higher exchange rate applies to non-finder customers. Send money in more than 130 currencies.
The ‘Rate’ and ‘Amount Received’ displayed are indicative rates that have been supplied by each brand or gathered by Finder.

Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention “Finder” before you commit to a brand.

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Save money on your personal or business international money transfer today. Fill in the form and you’ll be contacted by a foreign exchange expert to have an obligation-free discussion about your options. Our foreign exchange experts offer a best rate guarantee, are ASIC authorised and never charge transfer fees.

They can help you with all your needs including:

  • Buying property abroad
  • Emigrating
  • Regular overseas payments
  • Risk management
  • Forecasting

Pay lower fees and get faster transfer speeds

Generally banks charge high fees and trade currencies at poor exchange rates, however since you are sending money within Canada, there is no need to be concerned about the exchange rate since you won’t need to convert the Canadian dollars. If you are sending money between the same bank, the transaction should be almost instant and no fee will likely be charged. However, if you are sending money between different banks, you may be charged a small fee to transfer money. Speeds may also vary between different bank to bank providers.

Another option to send money to a friend or family member in Canada is to use the services of a specialist money transfer provider. These companies, like MoneyGram and Western Union, can send funds to different locations across the country. Instead of sending directly to a bank account, you may also have the option of sending money that will be available as cash pickup for your recipient.

While speeds are typically quite similar between banks and money transfer service providers in Canada, we have outlined a case study below to give you an example of some of your options. Note that in this instance, unlike sending money overseas, it is actually cheaper to use a bank since their fees are much lower.

Case study: Robyn Sends Money from Ontario to British Columbia

Robyn lives in Ontario and wants to send $1,000 to her parents who live out in British Columbia. They have different banks, so a small fee will be charged by Robyns bank. The transfer may also take some time, so Robyn decides to compare a specialist money transfer service. You can see the results of her comparison below.

BankMoneyGram
Transfer fee$3.99$56
Transfer timeLess than one hourMinutes
Transfer optionsOnline, in branchCash

As you can see, it is much cheaper for Robyn to send the money using her bank. Not only does the transaction reach her parents quickly, she also only has to pay a small transfer fee. If Robyn needed to send cash, she could turn to a money transfer provider like MoneyGram or Western Union, however she would have to pay much higher fees.

Get a better deal when sending money within Canada with these tips

  • Fees. Most of the time, you’ll have to pay a fee when transferring money. If you send money between the same bank, you will likely not have to pay a fee.
  • Transfer methods. Check to see which options are available for lodging a transfer: online, over the phone or by visiting an agent in person.
  • Transfer options. Some providers will offer flexible options to help make it easier and more cost-effective to lodge a transfer. These include forward contracts, market orders and the ability to schedule regular payments.
  • Transfer time. If you need funds sent urgently, you may wish to use a service that allows your cash to be picked up within minutes. You can also use a bank transfer in Canada to send funds to another Canadian bank quickly.
  • Pickup options. Does the cash go direct to your recipient’s bank account or can they pick up money in person from an agent? MoneyGram and Western Union are two companies who offer cash pickup options.
  • Customer service. Finally, consider the customer service options offered by each company. If you need help with a transfer, will your chosen provider offer phone, email and live chat support?

Choose the best way to send money across Canada by reviewing your options

You can choose from the following money transfer options when you need to send money within Canada:

  • Bank transfers. Whether you and your recipient use the same bank or not, you can still send money via your Canadian bank.
  • Online money transfer companies. You could turn to a dedicated money transfer company to send the money.
  • Cash pickup providers. Companies like Western Union and MoneyGram allow you to transfer funds, which can then be picked up from thousands of agent locations across Canada.
  • PayPal. It’s also possible to send funds to someone in Canada via PayPal, as long as both you and your recipient have your own PayPal accounts.
  • International money order. You can also opt to receive an international guaranteed cheque or bank draft from your bank or post office which can then be mailed anywhere in the country. Keep in mind this is the slowest way to send money overseas.

Find a convenient place to pickup cash sent to you in Canada

Western Union

  • Vancouver

    Money Mart #0247
    952 Granville St
    Vancouver, BC V6Z 1L2
    604-677-8278
    Open 9am to 9pm Monday to Saturday, open 11am to 5pm Sunday

  • International News

    110 550 Burrard Street
    Vancouver, BC V6C 2B5
    604-688-6663
    Open 8:30am to 5:30pm Monday to Friday

  • Toronto

    Money Mart #880
    241 Yonge Street
    Toronto, ON M5B 1N8
    416-367-2927
    Open 8am to 10pm Monday to Friday, 9am to 9pm Saturday and 10am to 6pm Sunday

  • Scotiabank #38356

    600 Fleet St
    Toronto, ON M5B 1B7
    416-777-2505
    Open 12pm to 7pm Monday to Friday, 9:30am to 3pm Saturday

MoneyGram

  • Vancouver

    City Park Express – Canada Post
    349 Georgia St W
    Vancouver, BC V6B 4Z3
    (604) 682-6063
    Open 9:30am to 6pm Monday to Saturday

  • Carlton Cards – Canada Post

    11 – 200 Burrard St
    Vancouver, BC V6C 3L6
    (604) 681-8699
    Open 9am to 5pm Monday to Friday

  • Toronto

    Shoppers Drug Mart 1402 – Canada Post
    10 Dundas St E
    Toronto, ON M5B 2G9
    (416) 591-1733
    Open 9am to 9pm Monday to Friday, 10am to 9pm Saturday, 12pm to 9pm Sunday

  • Toronto Adelaide PO

    31 Adelaide St E
    Toronto, ON M5C 1J4
    (416) 214-2353
    Open 8:30am to 5:30pm Monday to Friday

Safety pickup tips

Canada is a relatively safe place in terms of pickpocketing and robberies. Exercise caution when picking up cash and avoid using public transportation with large sums of money.

What details do I need to send money?

The exact process for lodging and completing a transfer will differ depending on the method you choose. If you decide to send money via your bank, you will likely need the following details:

  • Your recipient’s name
  • Email address
  • Personal information like address and phone number
  • Banking details including bank account number, bank address and transit number

If you send money via a specialist provider, you will typically need to open an account with your provider of choice and provide the following information:

  • Your name
  • Your contact details
  • Your date of birth
  • Your driver’s licence number or proof of ID

Once you have opened an account and placed your transfer, you will receive a receipt which will allow you to monitor the progress of your transaction until it is completed.

If you want to send money within Canada, you have plenty of options to choose from. Make sure to do your research and shop around for the best possible deal.

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