Sending money to Canada is easy. There is an exceptional number of great deals available to you. If you are looking for speed, your options are not as great, but when it comes to cost and efficiency, Canada is a great country to have to send money to.
The current exchange rate for the Canadian Dollar (CAD) is 1.3275 CAD per American Dollar (USD). The CAD reached a high of 1.3544 CAD per USD, and a low of 1.3036 CAD per USD during the last 90 days. The average exchange rate for the CAD was 1.3242 CAD per USD during the last 90 days.
The average volatility of the CAD against the USD was 0.32% over the last 90 days. This is a fairly high volatility rate, and the CAD has been somewhat unstable for a few years. The CAD has continued to lose ground into 2019. Going forward, moderate fluctuations can be reasonably expected, barring any unforeseen circumstances.
The fastest way to send money online is through Ria Money Transfer’s fast service. This is the cheapest reasonable option you have if speed is your primary concern. With Ria Money Transfer’s fast option, you can expect your money to reach its Canadadian destination in a matter of minutes. Ria money transfer also offers rather competitive rates when compared to their slower competition.
It should be noted that with OFX, you must send a minimum amount per transaction, and to achieve optimal savings, you should send more money at once. OFX has conversion rates that start around 1% if you’re sending the minimum. From here, the more money you send at once, the closer you get to their lower 0.4% rates.
If you need to regularly send smaller payments, then TransferWise is a close contender for the second cheapest way to send funds online to Canada.
The easiest way is through TransferWise. With TransferWise, you only need to complete a few quick steps in order to send money. First, you just tap the amount of money that you need to send, then tap in the destination. After that, you just pay TransferWise, and they send your money to its Canadian destination. The transfer is completed in one or two days.
The overall best way to transfer money online to Canada is through TransferWise. With TransferWise, you have a generic option which is cheap, exceptionally easy, and somewhat fast. The peer-to-peer system can be used simply and securely as well. These reasons and more make TransferWise the overall best way for Canada money transfers.
TranserWise is also great for: