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How to send money to Canada

Send money to Canada using an international money transfer service and you could beat the bank's rates.

Canada and Hong Kong are two nations with a strong global relationship and a long history of international ties. We’re good friends and Canada is a favourite holiday destination and second home for many Hong Kongers.

Because of this, many people find themselves needing to send money from Hong Kong to Canada for one reason or another. It’s quite quick and easy to send money to Canada, but it is important that you shop around for the best and most affordable transfer method.

Send money to Canada with Wise

以透明的匯率,低收費及低最低金額的網上服務作匯款。
Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies.

  • 受政府監管
  • 支援超過45+種貨幣
  • 使用中端市場匯率
Promoted

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

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
USD 10 1 - 2 days HKD 25.00 0.159 CAD
1,587
新客戶可享有首三個月無限次免手續費匯款。New customers get 3 months of unlimited free transfers.
可用15+種貨幣匯款,享有超越銀行的匯率以及快速轉賬時間。 CurrencyFair has bank-beating exchange rates and fast transfer times on 15+ popular currencies.
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SGD 1 1 day HKD 50.00 0.161 CAD
1,599
你首兩次港幣$15,000或以下的匯款,手續費全免。Pay no fees on your first two transfers, up to HK$15,000.
象徵式收費以及中間價匯率,可匯款至高達30多個國家。 SingX offers the real exchange rate every time you make a transfer and can help you send money across the world.
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USD 50 1 day HKD 35.00 0.161 CAD
1,602
獨家優惠:使用代碼FINDER10,你的頭一次匯款即能享有$10美元折扣。Use code FINDER10 to receive US$10 off your first transaction.
InstaReM 提供簡單的匯款服務,大部分的匯款劃一收取0.5%的手續費。InstaReM offers simple transfers with a flat 0.5% transfer fee for most transfers.
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USD 10 1 - 2 days HKD 100.00 0.161 CAD
1,591
以透明的匯率,低收費及低最低金額的網上服務作匯款。 Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies. Go to site Show details
USD 1 Within an hour HKD 20.00 0.16 CAD
1,598
使用優惠代碼FREE,你的首次匯款即可享免手續費。條款及條件適用。Use promo code FREE to send your first transfer with no fee. T&Cs apply.
提供現金提取、銀行戶口之間轉賬與及Airtime匯款選擇的網上匯款服務,。 WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.
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USD 2,000 1 day HKD 0.00 0.158 CAD
1,583
TorFX保證提供最佳的匯率。需受條款約束。TorFX guarantees to match any competitor's exchange rate.
以30種貨幣匯款到全球。登記後,將會有一個客戶經理提供支持和引導。 TorFX sends money overseas in 30+ currencies, with competitive rates for transfer amounts over $2,000.
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GBP 5,000 1 - 2 days HKD 0.00 0.158 CAD
1,583
可匯款至20+個國家,無手續費。 CurrencyTransfer lets you shop around for the best exchange rate on its online marketplace. Go to site Show details

Compare up to 4 providers

Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

What’s the best way to send money to Canada?

Online money transfer providers typically offer the strongest exchange rates and lowest fees on money transfers to Canada. Some offer transfers straight to Canadian bank accounts, while others allow the money to be picked up in Canadian dollars in person. Banks, PayPal and other options are available but come with high fees, weak rates and longer turnaround times. Some of the best ways to send money to Canada include:

  • Digital money transfer services. Companies like OFX and CurrencyTransfer specialise in foreign currencies, making them some of the most cost-effective transfers. Most offer transfers directly to your recipient’s Canadian bank account, often in as little as a day or two.
  • Cash transfers. Services like MoneyGram allow you to transfer cash for pickup at a local branch in Canada— often in 15 minutes. While it’s a fast way to send money, make sure you compare MoneyGram’s prices against companies like WorldRemit and Western Union to find the best deal.

Let’s crunch the numbers: Sending $10,000 to Canada

Let’s say you need to send $10,000 to Canada. Here’s what you might face as far as fees and exchange rates as of 4 Jan, 2021.

Digital money transfer serviceCash transferBank transfer
Fee0.00 HKD8.00 HKD65.00 HKD + additional correspondent bank fees
Exchange rate1.00 HKD = 0.16303 CAD1.00 HKD = 0.1619 CAD1 USD = 0.16267 CAD
Transfer speed1-2 dayMinutes2-5 days
Amount received1,630.30 CAD1,617.38 CAD1,616.29 CAD
Verdict
  • Best value
  • Fastest
  • Slowest and most expensive

The bank option ends up being both the slowest and gets the smallest amount of money to your recipient. If you go with the digital money transfer service, your recipient ends up with 14.01 CAD more than the bank offers. If speed is crucial, a cash transfer can typically have your transfer to Canada in as little as 15 minutes for just a slightly higher fee.

How to send money to Canada

Sign up and send money with a digital money transfer specialist in four steps:

  1. Sign up for a free account. Pick a provider and sign up for a free online account using your contact information, proof of ID and your preferred payment method.
  2. Provide transfer details. Submit your recipient’s contact information and pick a delivery method. If you’re transferring to a bank, you’ll need your recipient’s Canadian bank account details.
  3. Confirm transfer details. Double-check your payment method, expected fees and destination.
  4. Save your receipt. Record your receipt’s confirmation number to track the progress of your transfer to Canada. Some money transfer providers send a text or email when your transfer is complete.

How to get the most out of your money transfer to Canada

Weigh costs and fees against convenience, and learn how to compare money transfer providers that send to Canada to meet your needs:

  • Exchange rates. The HKD-CAD relationship fluctuates daily, so using a service that allows you to lock-in exchange prices may help you save money down the line if exchange rates take a turn for the worse in the future.
  • Transfer fees. Transferring money overseas nearly always requires fees, but they might be hidden in the exchange rate. When sending large amounts, it may be cheaper to pay a flat fee to secure a stronger exchange rate.
  • Transfer limits. How much you can send varies by company, and different amounts can attract higher or lower fees. Shop around for the best deal on the amount of Canadian dollars you’re sending.
  • Turnaround. Transferring money through a local bank can take a business week or longer. If you need the funds delivered quickly, seek out a digital specialist that offers instant transfers to Canada.
  • Maximum limits. When exchange rates are favorable, sending more money can save you money in the future. If you plan to send large amounts of money to Canada, be sure to pick a provider that won’t limit you.
  • Transfer methods. Whether you want money sent to a Canadian bank account or picked up as cash at a local agent, narrow down a company that matches your preferred delivery method.

Emergency cash transfer to Canada

When it’s more important to get your money to Canada quickly, look for money transfer companies that support cash pickup in minutes. You can pay with a credit or debit card for fast pickup, but fees are higher than other methods.

How to send money to Canada without a bank account

Cash transfer services can help you if you’re unbanked or marginally banked. If you don’t have a bank account, look for a local company that supports storefronts for cash payments. These services include agent locations in other countries that allow your recipient to pick up cash without a bank account.

Canada’s exchange rates explained

The exchange rate determines how much one country’s currency is worth in another country’s currency. When a country’s currency is strong, it yields more money when exchanging it in a country with a weaker currency. Canada’s exchange rate often fluctuates when compared to the HK dollar, so expect exchange rates today to be different than those you’ll see tomorrow. Factors that influence the exchange rate include interest rates, economic stability and inflation.

Track how the Canadian dollar trades against the US dollar in our historical rate chart.

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Updated: 29 Jul 2021 03:46:25 UTC

Documents needed for sending to and receiving money in Canada

To send money to Canada from Hong Kong, you’ll need government-issued ID and other documents, while documents needed to pick up money in Canada may be different by company.

Documents to send money from Hong Kong

To send money from Hong Kong to Canada, you’ll need documentation and details that include:

  • Identification. Most services require a driver’s license, passport or other government-issued ID.
  • Payment method. Your service may accept credit or debit cards, cash, bank accounts or personal checks.
  • Recipient information. Senders must provide the recipient’s name as it appears on their ID, along with their phone number and, for transfers to Canadian bank accounts, account information consisting of a transit number, institutional (bank) number and an account number.

Documents to receive money in Canada

To pick up money in person, documentation can include:

  • Transfer number. The person sending you money can forward the transfer’s confirmation details — called a PIN, a MTCN, a reference number or a tracking number, depending on the company.
  • Government-issued ID. A Canadian Passport, Canadian Driver’s License, Canadian-Indian Status Card or a similar government-issued ID is typically required to pick up cash.
  • Amount sent. You may need to know how much was sent, usually within 10% of the total.
  • Sender’s information. Take along your sender’s full name, the sending country and their address, if known.

Bottom line

Sending your hard-earned money to Canada shouldn’t cost a fortune. Compare transfer companies that specialize in foreign for the strongest rates, lowest fees and flexible delivery. For transfers to other countries, rely on our country specific guides the next time you need to make a transfer.

Frequently asked question

How do I transfer money to a Canadian bank account?

Most money transfer companies allow you to send money directly to a bank account. Use our top picks for transfers to Canada to quickly decide on which service is best for your transfer.
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Zero fees on your first THREE money transfers

Send money with WorldRemit using the code '3FREE' and pay no fees on your first three money transfers

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