Paysend is the cheapest way to send money from Canada to Panama based on the 1 companies we analyzed, giving your recipient 706.11 PAB from CA$1,000.
| 1 of 1 providers Last updated on 28 October 2026 | |||
| Based on 1,000 CAD transfer Best companies for CAD/PAB transfers | |||
Run a live search Showing top Canada to Panama deals for 1,000 CAD. Do a live search with your exact amount for today's best rates. | |||
Run a live search Showing companies that send from a business account. Run a business search to get live CAD to PAB rates. | |||
Run a live search These companies offer multi-currency accounts for spending PAB. We suggest doing a live search based on how much CAD you're planning to spend in Panama. | |||
Run a live search These are managed services with real human support for large CAD transfers. Click the link and update the transfer amount to get the best deal. | |||
 Paysend Pay via Debit Card | Fees: $0.00 1 CAD = 0.7061 PAB +0.89% vs mid-market | Recipient gets PAB 706.11 6-12 Hours | |
Ways to receive money in Panama with Paysend when paying by debit card. MethodFee & ratesRecipient gets Bank deposit6-12 Hours Free1 CAD = 0.7061 PAB PAB 706.11You pay$1,000.00 | |||
| Paysend Pay via Credit Card | Fees: $0.00 1 CAD = 0.7061 PAB +0.89% vs mid-market | Recipient gets PAB 706.11 6-12 Hours | |
Ways to receive money in Panama with Paysend when paying by credit card. MethodFee & ratesRecipient gets Bank deposit6-12 Hours Free1 CAD = 0.7061 PAB PAB 706.11You pay$1,000.00 | |||
| How Our Results Work Mid-market rate: 1 CAD = 0.7124 PAB Updates every 60 minutes. | |||
Transfer details
Start with the cheapest, which is Paysend at 706.11 PAB on CA$1,000.
Paysend was the cheapest on 30 of the 30 days it quoted CA$1,000 transfers to Panama.
More than half of Canadians sending money still pay at a store counter. The same company is often cheaper online.
You have 2 ways to pay, including debit card and credit card.
Interac e-Transfer is how most companies take your money, moving it into their Canadian account so they can carry it over the border.
First time round you'll need a photo ID, and often where the money came from.
Your first transfer will be slower than the ones after it because of those checks, so send it a few days before it's needed.
How much CAD you send to Panama heavily affects the best ways and the cheapest options. Use the table below to check how the cheapest options change and how much more you'd get by comparing.
Our analysis shows Paysend was the cheapest in 100% of the transfers up to C$1,000 it quoted, and in 100% of all the transfers it quoted.
| Cheapest service | |||||
|---|---|---|---|---|---|
| $100 | 0.89% | $0.00 | PAB 70.63with debit card to bank deposit | PAB 0.00 | |
| $500 | 0.93% | $0.00 | PAB 353.05with debit card to bank deposit | PAB 0.00 | |
| $1,000This page | 0.89% | $0.00 | PAB 706.11with debit card to bank deposit | PAB 0.00 | |
| $10,000 | 0.27% | $0.00 | PAB 7,106.08with bank transfer to bank deposit | PAB 0.00 | |
| $50,000 | 0.25% | $0.00 | PAB 35,545.11with bank transfer to bank deposit | PAB 0.00 |
Mid-market rate: 1 CAD = 0.7124 PAB
The cheapest way to send CAD to PAB can change every day, or stay with the same company all month.
We've compared the mid-market rate with the cheapest option each day (today it's Paysend), across 30 days of comparisons for 1,000 CAD transfers to Panama.
Wed, Oct 28, 2026Mid-market ratePAB 712.43 Paysend PAB 706.11PaysendPAB 706.11
| Exchange rate | Fees: | Recipient gets | Difference | |
|---|---|---|---|---|
| Mid-market rate | 0.7054 | – | PAB 705.41 | |
| | 0.7000 | $0.00 | PAB 699.96 | −PAB 5.45 |
| Exchange rate | Fees: | Recipient gets | Difference | |
|---|---|---|---|---|
| Mid-market rate | 0.7055 | – | PAB 705.51 | |
| | 0.7001 | $0.00 | PAB 700.06 | −PAB 5.45 |
| Exchange rate | Fees: | Recipient gets | Difference | |
|---|---|---|---|---|
| Mid-market rate | 0.7037 | – | PAB 703.71 | |
| | 0.6970 | $0.00 | PAB 696.96 | −PAB 6.75 |
| Exchange rate | Fees: | Recipient gets | Difference | |
|---|---|---|---|---|
| Mid-market rate | 0.7070 | – | PAB 707.01 | |
| | 0.6984 | $0.00 | PAB 698.43 | −PAB 8.58 |
| Exchange rate | Fees: | Recipient gets | Difference | |
|---|---|---|---|---|
| Mid-market rate | 0.7017 | – | PAB 701.71 | |
| | 0.6968 | $0.00 | PAB 696.82 | −PAB 4.89 |
| Exchange rate | Fees: | Recipient gets | Difference | |
|---|---|---|---|---|
| Mid-market rate | 0.7003 | – | PAB 700.25 | |
| | 0.6968 | $0.00 | PAB 696.82 | −PAB 3.43 |
| Exchange rate | Fees: | Recipient gets | Difference | |
|---|---|---|---|---|
| Mid-market rate | 0.7000 | – | PAB 700.05 | |
| | 0.6956 | $0.00 | PAB 695.60 | −PAB 4.45 |
| Exchange rate | Fees: | Recipient gets | Difference | |
|---|---|---|---|---|
| Mid-market rate | 0.6988 | – | PAB 698.83 | |
| | 0.6954 | $0.00 | PAB 695.40 | −PAB 3.43 |
| Exchange rate | Fees: | Recipient gets | Difference | |
|---|---|---|---|---|
| Mid-market rate | 0.7028 | – | PAB 702.84 | |
| | 0.6983 | $0.00 | PAB 698.29 | −PAB 4.55 |
| Exchange rate | Fees: | Recipient gets | Difference | |
|---|---|---|---|---|
| Mid-market rate | 0.7009 | – | PAB 700.89 | |
| | 0.6964 | $0.00 | PAB 696.43 | −PAB 4.46 |
| Exchange rate | Fees: | Recipient gets | Difference | |
|---|---|---|---|---|
| Mid-market rate | – | – | – | |
| | 0.6985 | $0.00 | PAB 698.53 | – |
| Exchange rate | Fees: | Recipient gets | Difference | |
|---|---|---|---|---|
| Mid-market rate | 0.7012 | – | PAB 701.19 | |
| | 0.6965 | $0.00 | PAB 696.50 | −PAB 4.69 |
| Exchange rate | Fees: | Recipient gets | Difference | |
|---|---|---|---|---|
| Mid-market rate | 0.7012 | – | PAB 701.19 | |
| | 0.6965 | $0.00 | PAB 696.50 | −PAB 4.69 |
| Exchange rate | Fees: | Recipient gets | Difference | |
|---|---|---|---|---|
| Mid-market rate | 0.7017 | – | PAB 701.67 | |
| | 0.6973 | $0.00 | PAB 697.31 | −PAB 4.36 |
| Exchange rate | Fees: | Recipient gets | Difference | |
|---|---|---|---|---|
| Mid-market rate | 0.7023 | – | PAB 702.26 | |
| | 0.6960 | $0.00 | PAB 696.04 | −PAB 6.22 |
| Exchange rate | Fees: | Recipient gets | Difference | |
|---|---|---|---|---|
| Mid-market rate | 0.7026 | – | PAB 702.61 | |
| | 0.6990 | $0.00 | PAB 698.97 | −PAB 3.64 |
| Exchange rate | Fees: | Recipient gets | Difference | |
|---|---|---|---|---|
| Mid-market rate | 0.7030 | – | PAB 702.98 | |
| | 0.6985 | $0.00 | PAB 698.46 | −PAB 4.52 |
| Exchange rate | Fees: | Recipient gets | Difference | |
|---|---|---|---|---|
| Mid-market rate | 0.7056 | – | PAB 705.57 | |
| | 0.7007 | $0.00 | PAB 700.65 | −PAB 4.92 |
| Exchange rate | Fees: | Recipient gets | Difference | |
|---|---|---|---|---|
| Mid-market rate | 0.7074 | – | PAB 707.38 | |
| | 0.7023 | $0.00 | PAB 702.29 | −PAB 5.09 |
| Exchange rate | Fees: | Recipient gets | Difference | |
|---|---|---|---|---|
| Mid-market rate | 0.7074 | – | PAB 707.38 | |
| | 0.7023 | $0.00 | PAB 702.29 | −PAB 5.09 |
| Exchange rate | Fees: | Recipient gets | Difference | |
|---|---|---|---|---|
| Mid-market rate | 0.7118 | – | PAB 711.75 | |
| | 0.7042 | $0.00 | PAB 704.18 | −PAB 7.57 |
| Exchange rate | Fees: | Recipient gets | Difference | |
|---|---|---|---|---|
| Mid-market rate | 0.7103 | – | PAB 710.28 | |
| | 0.7053 | $0.00 | PAB 705.26 | −PAB 5.02 |
| Exchange rate | Fees: | Recipient gets | Difference | |
|---|---|---|---|---|
| Mid-market rate | 0.7100 | – | PAB 709.99 | |
| | 0.7063 | $0.00 | PAB 706.31 | −PAB 3.68 |
| Exchange rate | Fees: | Recipient gets | Difference | |
|---|---|---|---|---|
| Mid-market rate | 0.7133 | – | PAB 713.26 | |
| | 0.7080 | $0.00 | PAB 708.00 | −PAB 5.26 |
| Exchange rate | Fees: | Recipient gets | Difference | |
|---|---|---|---|---|
| Mid-market rate | 0.7131 | – | PAB 713.09 | |
| | 0.7085 | $0.00 | PAB 708.53 | −PAB 4.56 |
| Exchange rate | Fees: | Recipient gets | Difference | |
|---|---|---|---|---|
| Mid-market rate | 0.7136 | – | PAB 713.62 | |
| | 0.7091 | $0.00 | PAB 709.06 | −PAB 4.56 |
| Exchange rate | Fees: | Recipient gets | Difference | |
|---|---|---|---|---|
| Mid-market rate | 0.7136 | – | PAB 713.62 | |
| | 0.7091 | $0.00 | PAB 709.06 | −PAB 4.56 |
| Exchange rate | Fees: | Recipient gets | Difference | |
|---|---|---|---|---|
| Mid-market rate | 0.7122 | – | PAB 712.23 | |
| | 0.7087 | $0.00 | PAB 708.70 | −PAB 3.53 |
| Exchange rate | Fees: | Recipient gets | Difference | |
|---|---|---|---|---|
| Mid-market rate | 0.7147 | – | PAB 714.71 | |
| | 0.7081 | $0.00 | PAB 708.15 | −PAB 6.56 |
| Exchange rate | Fees: | Recipient gets | Difference | |
|---|---|---|---|---|
| Mid-market rate | 0.7124 | – | PAB 712.43 | |
| | 0.7061 | $0.00 | PAB 706.11 | −PAB 6.32 |
| Exchange rate | Fees: | Recipient gets | Difference |
|---|
| Mid-market rate | 0.7124 | – | PAB 712.43 | |
|---|---|---|---|---|
| |
Each line shows what the recipient gets when you send $1,000, after fees, as quoted by each company. The mid-market line shows what $1,000 converts to at the real exchange rate, with no fees or markup. Rates are checked once a day. Sponsored placements never affect this data. There are no bank quotes for this period.
The dashed line is what you'd get at the mid-market rate with no fees, and the blue line is the cheapest option that day.
When the blue line goes above the dashed one, you're getting more PAB per CAD than the mid-market rate can offer.
This could be due to money transfer offers, FX rate adjustments, or market competitiveness.
No company, app or bank beat the mid-market rate over the past month, meaning you lose a bit of PAB on every transfer from Canada.
Right now, Paysend pays 706.11 PAB on 1,000 CAD, which is 6.32 PAB less than the mid-market amount.
Today's payout isn't the best this month though, since the highest receive amount was 709.06 PAB.
If you can wait and want to get the most out of your transfer, create a rate alert and we'll let you know when the rate improves.
Just because a company is the cheapest today doesn't mean it's always the best option for sending money to Panama.
We've tracked 180 comparisons to check how often today's top companies were the cheapest across 6 amounts over the past month.
Cheapest every time
Based on 42 comparisons across 6 amounts over the last 7 days.
Cheapest every time
Based on 180 comparisons across 6 amounts over the last 30 days.
Cheapest in 99% of them
Based on 351 comparisons across 6 amounts over the last 90 days.
Different companies can come out cheapest depending on the day and the amount you send.
To keep things fair, we only count the comparisons each company appeared in, and only analyze companies that appeared in at least 50% of all comparisons (so occasional cheapest options don't skew it).
Today Paysend is the cheapest and gets you the most PAB, and it was also the cheapest in 100% of the 92 comparisons it appeared in over the past month.
It's a good pick for both one-off and regular transfers to Panama.
There are 1 companies sending money to Panama, but how you send depends on your needs.
For transfers home
An app does the same job as the store for less, and you top it up with an Interac e-Transfer, the same way you'd send money to a friend.
Paysend charges CA$0 in fees and adds 0.89% markup, so your CA$1,000 delivers 706.11 PAB in 6-12 hours.
Over the past month, Paysend was the cheapest app on 100% of the days it appeared for CA$1,000 transfers.
You don't need a SIN to sign up either, a passport works.
For one-off transfers
For bigger or less frequent transfers, compare a couple of online services on the day, and pick the cheapest.
Of the 1 companies we compared, Paysend is the cheapest online service and currently gets you 706.11 PAB on a CA$1,000 transfer after a CA$0 fee and 0.89% markup.
In our comparisons over the past month, it was the cheapest online service on 30 of the 30 days it quoted.
Funding by bank transfer (EFT) is cheapest but takes 1-2 days to clear, and Interac e-Transfer or debit card is faster but pricier.
For large transfers from Canada
For property, tuition, moving from Canada, or an inheritance, a broker is the best and usually the cheapest option.
For large transfers (CA$15,000+), brokers like Currencies Direct or RegencyFX charge no fee, but add a margin that gets lower the more you send. Run a live search with your real amount to see it.
If you're sending large amounts, expect more questions about the transfers, so have statements and documents ready to avoid delays.
For businesses paying abroad
Global accounts handle the business side, paying suppliers, contractors and overseas invoices in PAB.
Companies like OFX, Airwallex, or WorldFirst are set up for the batch and recurring payments a personal app can't do.
With Paysend, paying by debit card and receiving through bank deposit is the cheapest combination. Sending CA$1,000 gives your recipient 706.11 PAB.
Deposit CAD using debit card and credit card.
The recipient can receive PAB through bank deposit.
For a bank deposit payout, you will need the recipient's bank details in Panama.
You pay CA$1,000.00
B/.706
Cheapest
You pay CA$1,000.00
B/.706
B/.0
Interac can fund an international transfer, but it does not send money abroad by itself. You should also know what happens when a transfer reaches the FINTRAC reporting threshold.
For a CA$1,000 transfer to Panama, these are the cheapest, fastest and easiest options available now.
Best way to send money to Panama
Paysend is the cheapest and easiest option, funded by debit card with bank deposit for the payout. Your recipient gets 706.11 PAB, which is 0% more than the next best option.
Fastest way to send money to Panama
Paysend is fastest when you pay by debit card and choose bank deposit for the payout. The transfer delivers 706.11 PAB in 6-12 hours.
An Interac e-Transfer cannot go directly to a recipient in Panama.
When a transfer company accepts Interac, you send CAD to its Canadian account and the company handles the international side over its own network.
There is no C$10,000 legal cap on electronic transfers from Canada.
A reporting entity must report an international electronic funds transfer of C$10,000 or more to FINTRAC, including linked transfers that meet the 24-hour rule.
The bank or transfer company makes that report, you do not file it yourself.
But you may be asked for proof of where the money came from.
Sending your own cash or making a genuine cash gift does not create a Canadian gift tax simply because the money goes abroad.
Tax can become relevant when you transfer an appreciated asset rather than cash, or when attribution rules apply.
Money held with a payment company is not covered by CDIC in the same way as an eligible bank deposit.
Payment companies covered by the Retail Payment Activities Act must safeguard end-user funds, but the Bank of Canada does not resolve individual fee or payment disputes.
If you’re unsure about the company, you can check the company in the FINTRAC MSB Registry.
If you live in Quebec, also confirm that it is allowed to provide money services there.
Most of the pricing here comes straight from the companies, and anything we gather by hand is labelled in the table.
That covers 1 FINTRAC-registered companies sending CAD to Panama, updated in real time during a live search, compared on rates, fees and how your recipient can collect.
In the past 30 days alone, we analyzed 180 comparisons across 6 amounts.
This page covers the cheapest and fastest options for CAD/PAB transfers. This is how we pick them:
Cheapest: the company that gets your recipient the most, after fees and the exchange rate. On a tie, live pricing from the company takes priority over the rates we collect by hand.
Fastest: the company with the shortest estimated delivery time once you’ve paid. On a tie, the one that pays out more takes priority.
Each goes through our review. More on who we are, why you can trust us and getting started.
Any tax information is for general guidance only and does not constitute tax advice. Speak to a qualified tax adviser about your circumstances.
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