send money to canada

How to send money to Canada

Get the best rate when transferring funds to Canada from the Philippines.

Canada is a favourite holiday destination for many Filipino tourists, and home to over 500,000 Filipino immigrants – making them the third largest foreign-born group in the country. Because of this, many people find themselves needing to send money from the Philippines 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.

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
PHP 1 1 - 2 days PHP 0.00 0.026 CAD
259
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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.

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 international money transfer provider will generally mean that you’ll benefit from greater cost savings.

Logan Sends Money to Canada

Logan travels to the Philippines for work purposes, leaving his family in Canada. He needs to send money to his family but discovers that bank transfer fees are high and the exchange rates are not competitive.

Logan travels to the Philippines for work purposes, leaving his family in Canada. He needs to send money to his family but discovers that bank transfer fees are high and the exchange rates are not competitive.

The following table compares rates from one of the Philippines’ big banks with a real money transfer as of December 2017.

BankMoney Transfer Service
Exchange rate39.66 PHP for 1 CAD38.68 PHP for 1 CAD
Transfer fee10 USD or 12.73 CAD10 USD or 12.73 CAD
Transfer speed1 to 2 daysSame day
Transfer optionsPhilippine bank account to Canadian bank accountPick up from agent
CAD received for PHP19,830500512.67
Difference in funds received+12.67 CAD

What’s the difference? Logan has an excess of CAD12.67 if he chooses to send money via money transfer. Note, this sample is fictional.

Get a better deal when sending money to Canada with these tips

  • Exchange rates. An exchange rate just a couple of cents higher can make a substantial difference to the final amount of money you transfer. Look for the highest rates available but keep in mind that some companies’ rates might be slightly lower because they don’t charge any fees.
  • Fees. Most of the time, you’ll have to pay a fee when transferring money overseas. However, some providers will waive their fees when you send more than a certain amount.
  • Transfer within the same bank. Some banks with branches in multiple countries, such as Citibank and HSBC, allow you to send international money transfers within the same bank. This makes the process quicker, easier and more affordable.
  • Transfer methods. Check to see which options are available for lodging a transfer: online, over the phone or by visiting an agent.
  • Transfer options. Some providers will offer flexible options to help make it easier and more cost-effective to lodge a transfer. These include forward contracts, market orders, and the ability to schedule regular payments.
  • Transfer time. If you need funds sent urgently, you may wish to use a service that allows your cash to be picked up within minutes.
  • Minimum transfer amounts. Keep an eye out for the fact that some companies have minimum transfer amounts which you must exceed. This can be inconvenient if you only wish to send a small amount of money.
  • Pickup options. Does the cash go direct to your recipient’s bank account or can they pick up money in person from an agent?
  • Customer service. Finally, consider the customer service options offered by each company. If you need help with a transfer, will your chosen provider offer phone, email and live chat support?
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Choose the best way to send money to Canada by reviewing your options

You can choose from the following international money transfer options when you need to send money to Canada:

  • Bank transfers. As the Canadian Dollar is a commonly traded currency, almost all Australian banks will allow you to transfer funds to Canada.
  • Online money transfer companies. Check the table and calculator above for a list of trusted online money transfer providers who allow you to send funds to Canada.
  • Cash pickup providers. Companies like Western Union and MoneyGram allow you to transfer funds which can then be picked up from thousands of agent locations across Canada.
  • PayPal. It’s also possible to send funds to someone in Canada via PayPal, as long as both you and your recipient have your own PayPal accounts.
  • International money order. You can also opt to receive an international guaranteed cheque from your bank or post office which can then be mailed overseas.
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What will you need to send money to Canada?

As there are several options you can choose from when sending money to Canada, the exact process for lodging and completing a transfer will differ depending on the method you choose.

Typically, however, you will need to open an account with your provider of choice, which could include you providing the following information:

  • Your name
  • Your contact details
  • Your date of birth
  • Your driver’s licence number

Once you have opened an account and placed your transfer, you will receive a receipt which will allow you to monitor the progress of your transaction until it is completed.

If you want to send money to Canada, you have plenty of international money transfer providers to choose from. Just make sure to do your research and shop around for the best possible deal.

Emergency cash transfers in Canada

There are certain situations where you may have to send money to Canada as quickly as possible, such as if you need to transfer funds to a relative who is in desperate need of cash. Whenever you need to lodge a transfer as quickly as possible, don’t forget to double check the exchange rate and fees that will be charged by your chosen provider. Although time may be crucial, taking a few extra steps to ensure you’re fully aware of what sort of deal you’re signing up for will prevent you getting any nasty surprises down the track.

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Find a convenient place to pickup cash sent to you in Canada

Safely pickup cash in Canada with these tips

Unlike many other parts of the world, Canada is listed as a safe country by the Department of Foreign Affairs and Trade, with travellers advised to ‘exercise normal safety precautions’. So while crime is considered to be less of a problem than in other countries, you’ll still need to be careful when picking up a cash transfer. Take a friend with you for extra security and make sure to keep your cash concealed from strangers. If possible, head straight to a bank to deposit the cash into your account.

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