Find the cheapest transfer service to send money to the US

So you’re looking for an affordable and convenient way to send money to the US? Look no further – we’ve got you covered. Whether you need to send some spare change to family and friends down south or you’re looking for an integrated solution to manage a portfolio of business expenses, we can help you find an international money transfer service that fits your unique needs.

Compare your options to transfer funds to the US

Rates last updated July 24th, 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.
WorldRemit International Money Transfers
CAD 0.51
Within an hour
Online, Bank Account to Bank Account, Cash Transfer
An online money transfer service with cash pickup, bank account to bank account and airtime transfers available.
Exclusive: World First International Money Transfers
CAD 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.
TransferWise International Money Transfers
CAD 2.50
1 - 2 days
Make online transfers with transparent exchange rates, low fees and low minimum amounts.
HiFX International Money Transfers
NZD 50
2 days
Online, Phone, Agent
Make your first transfer for free. Transfer money between 20 currencies, and enjoy schedule regular transfers.
XE International Money Transfers
1 day
Online, Phone, Bank Account to Bank Account
Send money in more than 60 currencies. Fee-free international money transfers with a global brand.
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

Banks vs money transfer services

As far as banks go, they have a lot of specialties, but international money transfers aren’t necessarily one of them. How come? Banks are often unable to offer more competitive exchange rates and fees than dedicated money transfer services simply because they can’t compete.

  • Banks. If you break it down to the nitty-gritty, banks don’t carry out nearly as many money transfers as dedicated services (because they are too busy selling insurance and brokering home loans and all that other jazz), which means that at the end of the day, they need to charge more for each transfer to keep the service profitable.
  • Money transfer services. International money transfer providers, on the other hand, have to compete with each other for customers, which means they’re going to go out of their way to offer the lowest fees and the most competitive exchange rates. It’s a simple formula: lower prices = more customers = more transfers = more money = everyone is happy!

Case study: Michael transfers money to the US

Michael works for a food manufacturing company that is based out of the US, but has factories in Canada. He’s been asked to oversee operations in Ontario on a one-year contract but is hesitant to leave his wife and son behind in Colorado so that his son can finish school. Michael wants to make sure he finds the best way to send money home to his family while he’s overseas, so he starts by comparing the costs to send $1,000 back home with his bank versus a reputable money transfer service.

Canadian bankMoney transfer service
Exchange rateCAD$1 = USD$0.76 CAD$1= USD$0.78
Transfer feeCAD$15CAD$10
USD amount for every $1,000 US$760US$780
Transfer time2-5 business days.Less than 24 hours.
Transfer optionsFunds are transferred from your Canadian bank account to an American bank account.This is a bank to bank transfer. Money can be sent as a cash pick up for an additional fee.

What’s the difference?

So, the question of the day is, which service should Michael pick? If you haven’t already done the math, we’ll give you a hint. It’s not the bank. Michael will gain access to higher exchange rate and lower fees by siding with the money transfer service. And, on top of that, his wife will be able to access funds in less than 24 hours. So not only does Michael save $25 a month (woo hoo!), but he also gets the peace of mind that his wife will have access to money almost as soon as he sends it.

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How do I compare transfer companies when transferring money to the US?

Since Canada and the US are neighbours, many banks and money transfer services specialize in providing fast and affordable money transfers between the two countries. For this reason, banks can sometimes provide the lowest cost option for sending money to the US from Canada, which isn’t typically the norm. To get the best deal, make sure to compare your bank to a dedicated money transfer service, keeping the following features and rates in mind:

  • Competitive exchange rates. More competitive exchange rates can save you money, especially if you’re transferring large amounts.
  • Minimal fees. Low or no fees can make or break your transaction depending on whether or not your exchange rate is competitive. The best combination is low fees and top-notch exchange rates to boot.
  • Various transfer methods. Money transfer services offer plenty of options, including mobile wallet top-ups and cash pick-ups, in addition to bank-to-bank transfers.
  • Fast transfer times. Money transfer services are often able to get your money to your recipient in a matter of minutes, while banks typically take between 1 – 3 days.
  • Reliable customer service. Some services have a better reputation than others when it comes to problem-solving. It’s best to do your homework and opt for a company with 24/7 customer service just in case you run into a snag with pick-up.

Compare Money Transfer Services

Money Transfer ServiceTransfer Fee (CAD)Exchange Rate MarkupTotal in US minus fees (from $1,000)
Canadian Forex$150.7820770.38
Currency Solutions$00.7823782.25
XE Money Transfer$00.7823782.36

Rates updated as of 16 May 2018 (subject to change) – you can visit many of these websites directly by clicking ‘Go to Site’ on the interactive transfer comparison table at the top of the page.

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Need an emergency cash transfer in the US?

So you need to send money to the United States as soon as possible? You’re not alone. Thousands of Canadians travel to the US every month, and need a cash top-up to make it through their visit. If you’ve lost or misplaced your wallet, you may be able to collect cash fast through your travel insurance policy (which can be purchased prior to your trip or may be offered through your credit card).

If you’re left high and dry for some other reason, the best thing to do is search for a cash pick-up service like Western Union or MoneyGram. These services often have higher transaction fees and exchange rates, but they can be a real lifesaver in case of an emergency.

Cash pickup locations in the United States

Both Canada and the US are swarming with Western Union and Moneygram locations, which offer rabbit-fast cash transfers between countries.

Western Union


Tips for picking up cash in the US

If you’re aiming to head down south in the near future, the Government of Canada recommends that you exercise a normal degree of caution (as of 16 May 2018). Crimes of opportunity such as petty theft and pickpocketing do occur, particularly in urban centres and tourist locations, so make sure that you keep an eye on your valuables, use common sense when carrying large amounts of cash through busy streets and take a friend with you if you need to pick up cash after dark.

There’s a huge demand for affordable and fast money transfer services when it comes to sending money from Canada to the US. Do your research to find the service offering the most competitive exchange rates, the lowest fees and the quickest transfers to make sure you get the most bang for your buck.

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    2 Responses

    1. Default Gravatar
      WolfgangMay 18, 2015

      If I send money to China by using citibank plus account, how much total cost would expect?Citibank doesn’t charge but reciving bank or intermidate bank charge for the service. Say, Today I send money US$1000 to Bank of China. How much I have to send AU$ to receiver side to get US1000?

      • finder Customer Care
        JodieMay 28, 2015Staff

        Hi Wolfgang,

        Thank you for reaching out.

        Please visit our send money to China page to find information regarding sending funds from AU to China including fees and exchange rates for multiple exchange services.


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