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TransferWise offers exchange rates up to 8x cheaper than the banks

Enjoy safe and reliable international money transfers worldwide with TransferWise.

TransferWise makes it easy to send and receive international payments with outstanding exchange rates and a user-friendly pay portal. Whether you’ve got one large lump sum to send abroad or regular overseas payments to manage, this reputable international money transfer provider offers a wide range of options so that you can maximize every transaction.

How does TransferWise measure up to other money transfer services?

Rates last updated July 24th, 2018
Name Product Min. Transfer Amount Transfer Speed Services Description Online Transfer Fee Rate Amount Received
TransferWise International Money Transfers
CAD 2.50
1 - 2 days
Make online transfers with transparent exchange rates, low fees and low minimum amounts.
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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Which currencies can you send with TransferWise?

TransferWise allows you to send funds to hundreds of countries around the world in over 60 different currencies. For a more comprehensive list, you can scroll up to the comparison table at the top of the page and click [Go to Site] beside TransferWise to be redirected.

  • AUD
  • AED
  • BRL
  • CHF
  • CNY
  • CZK
  • DKK
  • DZD
  • EUR
  • GBP
  • HKD
  • HRK
  • HUF
  • IDR
  • ILS
  • INR
  • JPY
  • KWD
  • MYR
  • NOK
  • NZD
  • PLN
  • SEK
  • SGD
  • THB
  • USD
  • ZAR

How much does it cost to transfer money with TransferWise?

Dedicated money transfer services typically have lower fees and more competitive exchange rates than the banks, particularly because unlike banks, they have to go the extra mile to compete for your business. With TransferWise, transfer costs depends on three things — (1) the amount you’re sending, (2) how you pay, and (3) the exchange rate.

  • Amount sent. TransferWise charges a flat fee of $3 to transfer amounts below $350. For any transfer between $351 and $9,500, you’ll be charged a 1% fee, with an additional 0.7% on any amount above the initial $9,500.
  • Payment Method. Card processing fees are added to the transfer amount charged to the card and vary depending on whether you pay with debit (1.15%) or credit (1.75%). For an estimate of fees, you can access the TransferWise Transfer Calculator.
  • Exchange rate. TransferWise offers the mid-market rate on every transfer since they use an innovative system that doesn’t require currency exchange. Basically, when you send money to TransferWise in Canada, they send the converted amount to your recipient from one of their accounts operating out of the destination country. This means that the money never actually crosses any borders and, therefore, isn’t subject to exorbitant exchange rates.

On top of all of that, TransferWise also offers a best rate guarantee, so you can be sure you’re getting the best deal. As an added benefit, for most currencies, you can also lock in the rate offered when you set your transfer up — and you’re guaranteed to get it, as long as you pay for your transfer in a stated time frame (normally 24 or 48 hours).

How do I register and send a transfer?

TransferWise makes sending money overseas a piece of cake with a simple, user-friendly process that takes only a few minutes from start to finish. Just follow these simple steps to get started.

  1. Open an account. Enter your personal details to get the ball rolling, but keep in mind all of the data you enter is subject to verification and must match the details linked to the bank account or credit card you’re using for payment. When you make transfers from Canada, you may also be asked to upload a certified ID copy signed by a guarantor.
  2. Book your currency. When you’re ready to make a transfer, input the amount you wish to send and specify currency.
  3. Pay for your transfer. Double check personal details and manually enter your credit card or bank account information into the system to complete the payment.
  4. Send your money. TransferWise will securely transfer the money via SWIFT to your recipient’s bank account. Depending on the method of payment, deposits tend to reach TransferWise between 1 and 5 working days.

When you’re ready to get started, feel free to register for TransferWise by clicking [Go to Site] on the interactive comparison table at the top of this page to request a quote or book a transfer.

How long will my transfer take?

While transfers are normally completed between 1 and 5 business days, transfer times will vary depending on four factors:

  • Location of sender and recipient
  • Method of payment (card or bank transfer)
  • Time of processing (during or outside of bank hours)
  • Status of security checks (completion of identity verification)

For an estimate of processing times, check out the TransferWise Transfer Calculator.

Pros and cons of using TransferWise


  • Mid-market exchange rates. TransferWise offers exchange rates that are up to 8x cheaper than the banks.
  • Minimal fees on small amounts. To send less than $350, TransferWise charges a flat fee of $3, which is very affordable, with a $10 fee on $1,000.
  • 60+ currencies. TransferWise offers a wide range of currencies to countries in every corner of the globe.
  • Best-price guarantee. If you find more competitive exchange rates, TransferWise will do their best to knock them out of the park, so you can rest assured you’re getting the best deal.
  • TransferWise borderless account. If you transfer money regularly, you can sign up for a multi-currency account to hold and convert 40+ currencies, get paid from countries around the world and spend money on a debit card with the real exchange rate.


  • Large fees on large amounts. Since transactions above $350 incur a 1% fee, a transfer worth $5,000, for example, will incur a $50 fee, which will only climb higher as the amount increases.
  • No offices in Canada. Lack of in-person services for Canadian customers.

Why choose Transferwise?

Transferwise offers an affordable, reliable and transparent money transfer service offering reasonable fees on transfers at the mid-market exchange rate. It’s quick and easy to transfer money, and the whole process is designed to be as user-friendly as possible.

Frequently asked questions about TransferWise

Your money should arrive to your nominated recipient within one to four business days.

A bit about the history of Transferwise

In 2011, Taavet Hinrikus and Kristo Käärmann were two Estonian expats living in London. Though he lived in London, Taavet was getting paid in Euros for work he’d done in Estonia. Meanwhile, Kristo lived in London but had a mortgage in Euros back in Estonia. Frustrated by hidden bank fees and fluctuating global currencies, the two friends devised a scheme to transfer funds overseas without losing any of their money and from this endeavor TransferWise was born.

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