How to send money to Canada from the UK

Get the best rate when you need to send money to Canada.

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Digital money transfer providers can beat the rates offered by your bank. If you need to send money to Canada, doing it online instead of through your local bank will save you on fees and give you access to stronger exchange rates and faster turnaround times.

Compare services that send money to Canada from the UK

Table: sorted by a combination of service offering and the amount your recipient will receive

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
GBP 2,000 1 day GBP 0.00 1.701 CAD
17,009
Get bank-beating exchange rates and no fees when you transfer with TorFX. Go to site Show details
GBP 5,000 Same day GBP 0.00 1.701 CAD
17,009
Universal Partners FX offers competitive exchange rates and same-day transfers for 100+ currencies. Go to site Show details
GBP 2,000 1 day GBP 0.00 1.701 CAD
17,009
Make transferring money abroad as simple and safe as possible with bank-beating exchange rates - online, via the app or over the phone. Go to site Show details
GBP 3,000 1 day GBP 0.00 1.701 CAD
17,009
Get no fees as a Finder customer when you transfer your money overseas with Global Reach. Go to site Show details
GBP 2,500 Same day GBP 0.00 1.701 CAD
17,009
Central FX’s dedicated private client team will guide you through the money transfer process from first call to final payment. Go to site Show details
GBP 5,000 1 day GBP 0.00 1.701 CAD
17,009
Take advantage of fee lock-ins and live bookable rates, helping you save up to 85% in hidden bank fees. Go to site Show details
GBP 5 2 days EUR 3.00 1.699 CAD
16,992
Special offer: Zero fees on your first 10 transfers.
Get bank-beating exchange rates and fast transfer times on 15+ popular currencies.
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GBP 1 Same day GBP 0.00 1.701 CAD
17,009
Whatever amount you transfer, XE will not charge you a fee for using their service. Go to site Show details
GBP 50 Same day GBP 2.99 1.691 CAD
16,901
Use promo code 3FREE to send your first 3 transfers with no fee. Conditions apply.
An online money transfer service with cash pick-up, bank account to bank account and airtime transfers available.
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GBP 10 Within an hour GBP 2.00 1.699 CAD
16,983
First two transfers free for new customers.
Instant or 1 hour transfers to over 50 countries, send money directly to bank accounts or over 280,000 cash pickup points.
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Compare up to 4 providers

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

How to send money to Canada online

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.

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.

Blue icon representing money transfers Image: Infogram

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.

Picture not described: BlueCoinsCashIcon_Infogram_94x62.png Image: Infogram

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, you’ll pay for the convenience in weak exchange rates and high fees. If a cash pickup is necessary, look to digital services like WorldRemit or XE when possible.

Picture not described: BlueBankIcon_Infogram_62x56.png Image: Infogram

Banks

Canadian dollars are almost certainly carried by your bank. Although your local bank can convert your pound sterling into Canadian dollars, beware of high fees and wide margins on the exchange rate compared to digital and other options.

Let’s crunch the numbers: Sending £2,000 to Canada

Let’s say you need to send £2,000 to family or friends in Canada. Here’s what you might face as far as fees and exchange rates as of 2 May 2020.

Digital money transferCash transferBank transfer
Fee£0£3.99£20 + additional correspondent bank fees
Exchange rate1 GBP = 1.77 CAD1 GBP = 1.72 CAD1 GBP = 1.64 CAD
Transfer speed1-2 dayMinutes2-5 days
Amount receivedCAD 3,548CAD 3,449CAD 3,287
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 CAD 261 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 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 GBP-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 favourable, 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

If you don’t have a bank account, you can still use cash transfer services to get the money to its destination. Similarly, a recipient can get the money with a cash transfer if they don’t have a bank account.

These cash transfer services are widely available around the world and although they’ll typically not be the cheapest available service they can be fast, convenient and can be used without bank accounts.

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 pound sterling, 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 pound sterling in our historical rate chart.

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Updated: 19 Oct 2020 22:06:44 UTC

Documents needed to send money to Canada

To send money to Canada from the UK, 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 the UK

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

  • Identification. Most services require a driver’s licence, passport or other government-issued ID.
  • Payment method. Your service may accept credit or debit cards, cash, bank accounts or cheques.
  • Recipient information. Submit your recipient’s name as it appears on their ID, along with their phone number, Canadian bank account and routing number if sending to their bank.

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 licence, 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.

What to watch out for

Most money transfers between the UK and Canada shouldn’t have any specific tax obligations attached to them, so long as they are for personal use and kept under £10,000.

Bottom line

It shouldn’t cost a fortune to send money to Canada. Compare transfer companies that specialise 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.

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