How to send money to Cuba from Canada with the best CAD-CUP rate

Comparing providers offering services between Canada and Cuba based on your specific transfer amount, is the easiest way to get the best price on your transfer.

Right now, these are your best options for sending money from Canada to Cuba

• Regency FX scored the highest of the 1 money transfer companies supporting CAD to CUP transfers. For example, sending 10,000 CAD to CUP will cost you $0 in fees, and the recipient will get 189,655.86 CUP. The delivery time is 6-12 hours.

• The cheapest option is Regency FX. Our data shows, over the past week, that Regency FX is 0% than the second-best option when sending via a bank transfer. This includes a fee of 0 CAD and a CAD-CUP exchange rates.

• Fastest money transfers to Cuba from Canada is with Regency FX. Right now, if you send $10,000 with Regency FX to Cuba, the transfer time is 6-12 hours. When sending money from Canada to Cuba, Regency FX has a fee of 0 CAD. Although we would recommend comparing the amount you want to send.

We cover the entire CAD-CUP market and have compared 1 providers offering services between Canada and Cuba.

This ensures you will get the most comprehensive options for sending Canadian Dollar to Cuba.

Whilst we rate Regency FX as the best overall for transfers between the two countries, comparing gives you the best idea for your specific Canada to Cuba transfer needs.

The exchange rate determines the price you will pay when buying Cuban Peso in Canada. A better exchange rate means more Canadian Dollars being sent to Cuba.

The current rate between the Canadian Dollar and Cuban Peso is 19.0312.

The total cost of money transfers to Cuba from Canada, is a combination of exchange rates and fees. Sending with a company that can offer a good competitive rate and low (or no) fees is the best way to get a good deal.

• The Mid-Market and Exchange Rates: The current mid-market for CAD-CUP is 19.0312 CUP per Canadian Dollar.

• Fees: Some money transfers between Canada and Cuba will be subject to fees. Although you should search for your send amount for actual fees as your scenario may be different.

• Amount Received: Money transfer companies will show you the amount of Cuban Peso eventually received in Cuba.

A safer option if you want to get a particular rate is to use a forward contract, especially for large Canadian Dollar transfers to Cuba. This allows you to lock in an agreed exchange rate between Canada and Cuba.

Sending via a bank transfer is the payment method that will get you the best price on a transfer from Canada to Cuba.

Here are all the ways to fund your transfer:

Bank transfer

Bank transfers are often the best and easier way to send money from Canada to Cuba.

By using a money transfer company such as Regency FX for transfers from Canada to Cuba, you can send money via a bank transfer and benefit from lower fees and more favorable exchange rates than would be offered by a bank. 


Debit and prepaid cards

Sending money from Canada to Cuba with a debit or a prepaid card is easy with .


is a leading money transfer company for debit card payments, and offers transfers from Canada to Cuba.

Credit cards

When it comes to sending money with a credit card from Canada to Cuba, it can get very expensive very quickly due to additional fees.

We recommend sticking to bank transfers or debit card deposits, but if you have to, run a quick comparison to find the right money transfer company that offers credit card deposits.

Companies offering money transfers between Canada and Cuba will have minimum or maximum thresholds on how much you can send or receive across set timeframes.

Exchange rates and fees for different transfer amounts could change and sending regularly could mean losing out.

That’s why it’s best to compare CAD-CUP rates for your specific transfer amount.

For regular transfers to Cuba to Canada, shopping around each time can make a huge difference.

For sending large amounts of CAD to Cuba without hitting a threshold, we’d recommended Regency FX. They offer a combination of rates and fees when sending from Canada to Cuba that is the most competitive, even at larger amounts.

Be sure to check with the recipient and understand any declarations needed on large amounts of money entering Cuba from Canada.

Options for receiving Cuban Peso in Cuba include direct bank deposit, cash pickup, a mobile wallet or receiving money into a multi-currency account.

Not all of the 1 providers offering transfers from Canada to Cuba will support every method for incoming Cuban Peso, so it’s best to check ahead of time.

The most common option is to send directly from Canada to a bank account in Cuba. For most part, this is convenient but does have receiving fees to potentially be aware of.

Regency FX is the best company for bank transfers between Canada and Cuba.

Cash pickup is popular in some parts of Cuba, but not always supported and can be costly compared to cheaper options.

Mobile wallet or P2P services and payment apps like PayPal, Xoom, and CashApp are popular because of convenience, but they come with more limitations and higher costs compared to money transfer providers like Regency FX.

When sending Cuban Pesos to Cuba, through a money transfer company, you will need to verify your ID when signing up.

The documents you need can vary and in some cases you might need a couple of options.

Generally, government issued ID such as a passport or driver's license are accepted in Canada. If the recipient needs an ID to collect money in Cuba, the same applies there. You may also be able use other ID formats, where these aren’t available.

Large transactions between Canada and Cuba can be subject to additional checks such as proof of funds for anti-money laundering purposes. This may also require additional ID checks.

One of the reasons Regency FX as scored so highly for transfers to Cuba is their easy sign up process in Canada.

As well as proof of funds, when sending large amounts of money between Canada and Cuba there will be tax declarations to consider. This is also potentially due to regular transactions.

Some transfers into Cuban Peso may need to be reported to tax authorities in Cuba and Canada, particularly where inheritance or property purchases are involved.

Tax limits and personal allowances do change in Cuba based on age, income and a few other elements. Everyone’s tax obligations are unique - when in doubt, please contact a tax professional in Canada or Cuba.