Overall top choice: Wise
Of the 10 money transfer providers we tested and reviewed, Wise was a standout option for its combination of speed and cost.
Over the last six months, Wise appeared in 100% of searches for transfers between Canada and China.
When sending money from Canada to China, using Wise in a great option.
How to get the best deal on your Canada to China transfer
- Always compare rates
Don't pay more than you need to. Use our live comparison tool to get an overall cost of exchange rates and fees when sending money from Canada to China.
- Choose a provider
Select the provider that offers you the best value & service for transfers between Canada and China.
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- Click, sign up & send
Follow the steps & start your transfer. Your funds will soon be on their way to China.
Summary of recent searches
Considerations ahead of sending money from Canada to China
A comparison of providers offering services between Canada and China, based on your specific transfer amount is the best way to send money with the confidence you’re getting the best price.
We’ve compared 10 providers that provide services for sending Canadian Dollar to China. This ensures you will get the best options for your transfer to China from Canada.
Whilst we rate Wise as the best overall, comparing gives you a comprehensive view of all the options for transferring money from Canada to China.
Cheapest way to send money to China from Canada: Panda Remit
Data collected over the past six months shows that Panda Remit is 0.4% cheaper than the second-best option.
The $4 transfer cost represents the most common fee for CAD to CNY international transfers, based on data from the past six months.
If you want to secure the best rates on a CAD to China transfer, make sure you pick Panda Remit to send your money online.
*The most common fee applied to CAD-CNY by Panda Remit, based on data from the past six months.
Fastest way to transfer money to China from Canada: Wise.
Wise was the quickest way to send Canadian Dollar to Yuan Renminbi in 28.6% of searches. For fast transfers between CAD and CNY, Wise comes highly recommended.
When using Wise to send money from Canada to China you can expect an average fee of 42.68 CAD. Although we would recommend comparing the amount you want to send.
When testing the 'fastest' options we compared 10 money transfer providers. To test overall speed of sending money from Canada to China we included the timeframe for depositing Canadian Dollar to a money transfer account and average transfer times to China.
When sending money to China from Canada quickly is a priority, Wise is our recommended choice.
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 CAD from Canada to China, it’s the provider that will keep you safe and relaxed while your money moves into CNY.
Understanding the cost of sending money to China from Canada
The cost of sending money from China to China, is made-up of a combination of fees and exchange rates:
The Mid-Market and Exchange Rates: The mid-market rate determines a mid-price for buying currency. The current mid-market rate from CAD-CNY is 5.2196 CNY per Canadian Dollar.
Finding a provider offering an exchange as close to 5.2196 as possible will ensure more Yuan Renminbi received when transferring.
For context, the CAD-CNY mid-market rate for the past three months has averaged 5.2873 CNY per Canadian Dollar. This includes a high of 5.3287, and low of 5.2596.
Wise currently offers the best exchange rate on transfers from Canada to China.
For the most part the CAD-CNY exchange rate you receive is the biggest factor impacting the cost of sending CAD to China.
Fees: Outside of exchange rates, you may need to pay a fee to send. Panda Remit currently offers the lowest fees on transfers to China from Canada, averaging 4 CAD over the last 6 months. Although this does include large transfers as well, we recommend searching for your exact send amount for an exact fee.
Amount Received: The amount received in Yuan Renminbi is the amount you started with, minus the amount you paid in the exchange and fees.
The better deal you get on exchanging Canadian Dollars to CNY, paired with a low fee, means a higher total amount received in China.
How to find the best exchange rate for Canada to China
Timing is essential for sending money between CAD and CNY. The exchange rate you secure impacts how much CNY you get for your CAD.
Let's dive into some interesting recent trends.
Over the past six months, the exchange rate from CAD to CNY has seen some fluctuation. On average, it stood at 5.2873.
During this period, the highest value recorded was 5.3287, while the lowest was 5.2596.
Wise, which is our recommended service to send money online from Canada to China offers an exchange rate that is only 0% above the mid-market rate.
Want to secure the best CAD-Yuan Renminbi exchange rates?
Sign up for our rate alerts and we'll tell you when it's the best time to move your money from Canada to China!
Payment methods available to fund your Canada to China transfer
Bank transfers
Bank transfers are often the better option for money transfers from Canada to China.
Sending money via a bank transfer with a company such as Panda Remit for transfers from Canada to China allows you to benefit from lower fees and more favorable exchange rates than you would get with a traditional bank.
On average, Panda Remit is the best provider for bank transfers of the 10 we tested when sending CAD to China.
With an average fee of CAD4 to send money from Canada to China, Panda Remit offers a great combination of competitive exchange rates and lower fees.
Debit and prepaid cards
Sending money from Canada to China with a prepaid or a debit card is very simple with Wise.
Wise is a leader in card payments for transfers from Canada to China, competing among a total of 10 active money transfer companies on this route.
Credit cards
When it comes to transferring money with a credit card from Canada to China, Wise emerges as our top choice of the 10 companies offering this service.
Beware of fees: using a credit card to transfer money often results in a fee being charged by your card issuer. Where possible, we recommend a bank transfer or debit card payment instead.
How we analyze the market
We track the cost, speed, and product offerings of the leading money transfer services available between China and 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 from Canada to China.
We also provide unbiased and detailed reviews of all the top money transfer companies. You can use these reviews to send CAD to CNY.
For a deeper understanding of our commitment to integrity and transparency, we invite you to read our editorial policy document.
