Canada money transfers

Send Money to Canada Cheaply

Information verified correct on February 21st, 2017

Take advantage of low fees and competitive exchange rates when sending money to Canada.

When you need to get money to a loved one overseas, the last thing you want to have to deal with is navigating a potentially complicated and expensive process. Sending money from the United States to Canada doesn’t have to be expensive. Compare the transfer fees and exchange rates of the options available to you to get the most Canadian dollars for your U.S. dollar.

Compare Money Transfer Services

Our interactive table lets you compare current fees, exchange rates, transfer speeds and other details about sending your money overseas. Enter the amount you’re transferring, and see how much will arrive at your destination.

Rates last updated February 21st, 2017

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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.

With over 17 years of foreign exchange expertise and over $100 billion transferred, OFX can help with all your currency exchange needs, including:

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

Min. Transfer Amount Transfer Speed Services Online Transfer Fee Rate Amount Received
Wyre International Money Transfers
No transfer fees for finder... No transfer fees for finder.com readers. Make transfers with Bitcoin.
OnlinePhone
Rates are always
changing, click to check
your price today
Go to site More
World First Foreign Exchange
Exclusive offer: $0 transfer fee ... Exclusive offer: $0 transfer fee
No-limit transfers with competitive exchange rates for more than 100 currencies.
USD 500 1 day
Online
Rates are always
changing, click to check
your price today
Go to site More
WorldRemit International Money Transfers
Fast... Fast, low-cost transfers to 110 countries for bank-to-bank deposit, cash pickup or mobile top-up.
USD 1 Within an hour
OnlineCash Transfer
Rates are always
changing, click to check
your price today
Go to site More
TransferWise International Money Transfers
Enjoy high maximum transfers into ... Enjoy high maximum transfers into more than 20 currencies while saving up to 90% over local banks.
USD 1 1 day
Online
Rates are always
changing, click to check
your price today
Go to site More
OFX International Money Transfers
Send safe... Send safe, no-limit transfers with no fees and competitive exchange rates.
USD 150 1 day
Online
Rates are always
changing, click to check
your price today
Go to site More
Payoneer International Money Transfers
Ideal for worldwide business payments ... Ideal for worldwide business payments to more than 200 countries and 150 currencies.
USD 20
Online
Rates are always
changing, click to check
your price today
Go to site More
RIA Money Transfer
No fees for bank account ... No fees for bank account transfers and cash pickup at 240,000 locations in 130+ countries.
3 - 5 days
Online
Rates are always
changing, click to check
your price today
Go to site More
HiFX International Money Transfers
Transfer money into 20 currencies ... Transfer money into 20 currencies and schedule regular payments. $5 fee waived for transfers over $5,000.
USD 100 2 days
Online
Rates are always
changing, click to check
your price today
Go to site More
Moneycorp Exchange Experts
Full-service specialist offering competitive exchange ... Full-service specialist offering competitive exchange rates on personal international money transfers.
USD 50 1 day
OnlinePhone
Rates are always
changing, click to check
your price today
Go to site More
TorFX International Money Transfers
No hidden fees and a ... No hidden fees and a best rate guarantee for 60 global currencies.
USD 150 1 day
OnlinePhoneAgent
Rates are always
changing, click to check
your price today
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Wells Fargo Bank
While more expensive than other ... While more expensive than other options, securely send money to 13 Latin American and Asian countries.
USD 1 1 day
Online
Rates are always
changing, click to check
your price today
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How do international money transfers work?

An international money transfer allows you to send money to a recipient overseas. Generally, a transfer involves you providing funds to a bank or an independent transfer provider, which then sends the money to your recipient in another country — in this case, Canada. This can be done in person, over the phone, through a mobile app or online. You can use cash, a credit or debit card, or transfer funds from your bank account, which will then either be deposited into your recipient’s bank account or mobile wallet, or made available as cash for them to pick up at a location in their country.
Laws and legal documents when transferring large sums of money into Canada

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Banks versus money transfer services

While banks are capable of handling international wire transfers, they typically charge higher fees and offer unfavorable exchange rates compared to specialist money transfer providers.

Using the services of a global money transfer provider will generally mean that you’ll benefit from greater cost savings.

Case Study: Robyn Sends Money to Canada

Robyn has scored her dream job in New York and left her family behind in Toronto, but that doesn’t mean she’s forgotten her roots. She wants to send $2,000 to her younger sister back in Canada as a birthday gift, but the thought of paying her bank’s $50 transfer fee seems exorbitant. Robyn decides to compare the services of two specialist money transfer companies to see if she can find a better deal.

Money transfer company 1Money transfer company 2
Exchange rate1 USD = 1.30 CAD1 USD = 1.27 CAD
Transfer fee$5$87
Transfer methodBank account depositCash pickup
Processing time1 business day10 minutes
Amount received (in CAD)2,600 CAD2,540 CAD

As you can see, while Robyn can send an extra 60 CAD and save more than $80 in fees by using the first company, the second company does allow her to send an urgent transfer if she needs to.

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How to compare transfer companies when sending money to Canada

You’ll want to consider costs, of course. But other factors can also affect your choice.

  • Exchange rate. U.S. dollars are converted to Canadian dollars at an exchange rate that’s set by the transfer provider. These rates vary day to day, even moment to moment, and among providers.
  • Fees. Most companies charge a fee to dispatch your money around the world, though some will waive that fee for large transfers. The fee and the exchange rate determine how much your transfer will cost.
  • Minimum amounts. Some companies will transfer as little as a dollar, but others won’t deal with anything less than a few hundred. Look for a match with what you’re trying to send.
  • Urgency. If the money needs to get there ASAP, most providers complete transactions in a day or two. Some can do it in minutes, at a higher cost. The fastest availability usually comes with picking up the funds in cash. Surprisingly, using a credit or debit card on your end can be faster than pulling money directly from a checking account.
  • Process and scheduling. Do you prefer to send money online, over the phone or in person? Do you want to schedule a future transfer or use a forward contract in anticipation of better exchange rates?
  • Payment methods. Will you pay with cash, a bank account or a debit or credit card? Transfer agents often see debit cards as quicker and more secure than the bank accounts they’re based on. However, using a credit card can trigger cash advance charges from your credit card company.
  • Customer service. How much help will be available if you hit a snag or have a question? Are the support hours convenient?
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Foreign exchange rates explained
The exchange rate determines how much one country’s currency is worth in another currency. When a country’s currency is strong, it will yield more money when exchanging it in a country with a weak currency. For example, in December 2016, the U.S dollar was worth approximately 19 Mexican pesos. However, most countries’ exchange rates are flexible, which means it can change from moment to moment. Factors that influence the exchange rate include interest rates, economic stability and inflation.
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Ways to send money to Canada from America

  • Bank transfers. Most U.S. banks offer safe and secure transfers to Canada.
  • Online money transfer providers. These companies, for example WorldRemit and OFX, offer convenient and affordable transfer options.
  • Money transfer companies with cash pickup options. Western Union, MoneyGram and Ria are the three largest providers of these transfer services.
  • PayPal. PayPal is not just for eBay purchases; it can also be used to send international money transfers.
  • Checks. Ask your bank for an international guaranteed check and send it to Canada the old-fashioned way.
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Emergency cash transfers to Canada

Sometimes you might need to send an urgent transfer to Canada, but make sure you review the details of your transaction before placing a transfer request. Emergency transfers often attract high fees and less-than-impressive exchange rates, so read the fine print and ensure you’re aware of what you’re paying.

Back to topFind a money transfer location near you

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Tips for picking up cash in Canada

Even though Canada is one of the safest tourist destinations in the world, it still pays to take some precautions when picking up cash. Bring along a friend for extra security, keep your money concealed, and deposit any large amounts of cash into your account as soon as possible.

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How to send money to Canada

There are many options to choose from when you send money to Canada, and most providers require you to sign up for an account before you send your funds. This means you will need to supply:

  • Your name and address
  • Your email address and phone number
  • A valid form of photo ID, such as a driver’s license or passport

It usually only takes a few minutes to send money and to receive a transaction reference number once you’ve finalized your transfer. Use this to track the progress of your transfer online.

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US International Money Transfers Offers

Learn about our information service
HiFX International Money Transfers

Transfer money into 20 currencies and schedule regular payments. $5 fee waived for transfers over $5,000.

WorldRemit International Money Transfers

Fast, low-cost transfers to 110 countries for bank-to-bank deposit, cash pickup or mobile top-up.

World First Foreign Exchange

Exclusive offer: $0 transfer fee
No-limit transfers with competitive exchange rates for more than 100 currencies.

TransferWise International Money Transfers

Enjoy high maximum transfers into more than 20 currencies while saving up to 90% over local banks.

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