- Competitive exchange rates
- Transparent fees
- Helpful features like Xero integration
- Both small and large businesses
Not so great for
- Transferring to less-popular currencies
Min. Transfer Amount
Max. Transfer Amount
1 - 2 days
|Product Name||TransferWise International Money Transfers|
|Min. Transfer Amount||CAD 1|
|Max. Transfer Amount||CAD 1,500,000|
|Transfer Options||One off payments|
Minimum transfer time
|1 - 2 days|
|Customer Service||Phone, Email|
|Available Currencies||AED, ARS, AUD, BDT, BGN, BRL, CAD, CHF, CLP, CNY, CZK, DKK, EGP, EUR, GBP, GEL, GHS, HKD, HRK, HUF, IDR, ILS, INR, JPY, KES, KRW, LKR, MAD, MXN, MYR, NGN, NOK, NPR, NZD, PAB, PEN, PHP, PKR, PLN, RON, RUB, SEK, SGD, THB, TRY, UAH, UGX, USD, VND, ZAR|
|Online Transfer Fee||0.45%|
|Exchange Rate Updates||Real time|
TransferWise’s fees vary depending on the currency, but generally sit at about 0.4% of your transfer amount. There’s also an extra fixed fee of a few dollars. The fees for business customers are the same as for individual customers and there are no additional account fees on top of this.
You can use the calculator below to see how much sending money with TransferWise might cost you.
TransferWise uses the mid-market rate, meaning you’ll get the same exchange rate you see on Google or XE with no added margin. This is rare to find among money transfer services, with most banks and specialist companies adding a margin on top of the mid-market rate as a kind of hidden fee.
TransferWise offers more than 20 currencies, so your business will be able to make transfers to each of these from Canada. You can see a full list above, but some of the more popular currencies include:
To make it easier for businesses to send and receive money, TransferWise has built in several helpful features to its business product:
To conduct your international business through TransferWise, you’ll first need to:
You’ll first need to have a personal account with TransferWise – you can find more details about setting up this account in our review. The email address you use for this personal account needs to be the same as the one used for the business profile.
While the exact details depends on what kind of business you own, you’ll generally need:
See how TransferWise compares to other companies below. You can use the calculator to get a better idea of what your transfer could look like.
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