Overall best choice: Wise
We tested & reviewed dozens of money transfer providers, and Wise scored highly.
Wise appeared in 100% Canada searches, and was the top rated company out of 17 that support CAD.
So for a great mix of cost, speed & features, make your Canada transfer using Wise.
How to get the best deal on your transfer to Canada
- Always compare rates
Don't pay more than you have to. Use our live comparison tool to make sure you aren't missing the best rates to send money to Canada.
- Choose a provider
Select the provider that offers you the best value & service for your needs
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- Click, sign up & send
Follow the steps & make your transfer. Your funds will soon be on their way to your chosen country & currency.
Summary of recent searches
Important things to consider before sending money to Canada
Don't settle for the first option. Always compare ways to send money to Canada to find out about fees, speed, and reliability.
Our analysis included 17 providers that operate transfers to Canada.
Through this, you get a comprehensive view of all the options you have to send money to Canada.
Cheapest way to send money to Canada: Wise
Data collected over the past six months shows that Wise is 1.9% cheaper than the second-best option.
The $0 transfer cost represents the most common fee for international transfers to CAD, based on data from the past six months.
If you want to secure the best rates on a transfer to Canada, make sure you pick Wise to send your money online.
*The most common fee applied to CAD by Wise, based on data from the past six months.
Fastest way to send money to Canada: Paysend
Our data shows that Paysend came up as the fastest way to send money to Canada in 66% of searches. This makes them well suited to urgent CAD money transfers.
The 'fastest' way to send money is defined by the overall speed of sending money to Canada - this includes deposit, transfer and withdrawal timeframes and often differs per currency.
When speed matters, Paysend is your best choice at the moment.
Need to send over $10,000?
Opt for a service proven with large transfers when size matters. For transfers over $10,000, your best bet is Wise.
While Wise may not always be the cheapest or fastest way to send money to Canada, it’s the provider that will keep you safe and relaxed while your money moves into CAD.
Understanding the costs involved when moving money to Canada
When calculating the costs of money transfers to Canada, here's what really matters:
The Mid-Market and Exchange Rates: The mid-market rate is rate the banks pay and money transfer companies pay for CAD. The exchange rate is the amount you pay. Essentially, if you are sending USD, this number is how much Canadian Dollar you will get for each United States Dollar. If a company is offering the mid-market rate, this is a 0% exchange rate.
Fees: This is the amount you will pay in fees for transfers to Canada. This amount is controlled by the money transfer company. In some cases there are free options, although exchange rates may be higher.
For example, you may pay a 0% exchange rate, and 0.35% of the transfer amount as the fee. But you could also pay a 2% exchange rate and no fee. Overall, this makes the former option cheaper - as you pay 1.65% less overall.
How to find the best exchange rate to Canada
Timing is essential for sending money between CAD and CAD. The exchange rate you secure impacts how much CAD you get.
Let's dive into some interesting recent trends.
Over the past six months, the exchange rate from USD to CAD has seen some fluctuation. On average, it stood at 1.3594.
During this period, the highest value recorded was 1.383, while the lowest was 1.3348.
Wise, which is our recommended service to send money online to Canada offers an exchange rate that is only 0% above the mid-market rate.
Want to secure the best Canadian Dollar exchange rates?
Sign up for our rate alerts and we'll tell you when it's the best time to move your money to Canada.
Payment methods available to fund your transfer to Canada
Bank transfers
Bank transfers are often the default option for sending money to Canada.
By using a money transfer company such as Wise for transfers to Canada, you can send money via a bank transfer while benefitting from lower fees and more favorable exchange rates.
On average, Wise is the cheapest provider for bank transfers from the 17 we tested when sending to Canada.
With an average fee of CAD2.38 to send money to Canada, Wise offers a great combination of competitive exchange rates and lower fees.
Debit and prepaid cards
Sending money to Canada with a debit or a prepaid card is very simple with Wise.
Wise is a leader in debit card payments for transfers to Canada, competing among a total of 17 active money transfer companies on this route.
When it comes to credit card transfers to Canada, Wise emerges as our top choice of the 17 companies offering this service.
Fee alert: using a credit card to transfer money often results in a fee being charged by your card issuer. That's why we recommend bank transfer or debit card instead.
How we analyze the market
We track the cost, speed, and product offerings of the leading money transfer services available when sending to Canada.
Our comparison engine and algorithms evaluate providers based on over 25 factors.
We also consider how these services are rated on platforms like TrustPilot, AppStore, and Google Play, giving you a comprehensive view of what to expect.
This thorough analysis helps you get the best available deal - every time you want to move money to Canada.
We also provide unbiased and detailed reviews of all the top money transfer companies. You can use these reviews to send to CAD.
For a deeper understanding of our commitment to integrity and transparency, we invite you to read our editorial policy document.
