Compare the best ways to send money from United States to Canada

Paying in cash at an agent can work without a US bank account.

The ID accepted depends on the company and the amount, so check before visiting if you do not have an SSN.

Hand $7,000 to a MoneyGram agent in the US, and your recipient will get 9,597.7 CAD in minutes - 24 hours.

However, transfers funded with cash or a money order carry a 1% federal tax from January 2021. To avoid it, fund with a debit card or bank account instead (most agents take both).

For a one-off transfer, an online service funded from your checking account is usually the cheapest way to send money to Canada.

Of all online companies listed here, Wise gets you the most CAD per USD.

On a $7,000 transfer, you will get 9,618 CAD after a $26.9 fee and 0% markup.

But, bank funding (ACH) takes 1 to 3 business days to clear, while debit cards (and Google Pay/Apple Pay) are usually instant but cost a bit more.

For large transfers to Canada (e.g. a property purchase, tuition, or moving to Canada), a broker like Key Currency charges no fee, gives you a dedicated account manager, and adds 0.25% markup on USD/CAD that gets lower the more you send.

It's also good to check Wise since you get a bulk discount on transfers over $25,000.

Global accounts are for US businesses paying people abroad.

Companies like Airwallex, WorldFirst, or Payoneer handle the recurring and batch payments, invoicing, tracking, and more.

A multi-currency account like Wise is the best for holding and receiving CAD.

This is useful for traveling to Canada, building up CAD balance, or receiving payments in CAD.

Wise converts $7,000 at 0% markup plus small fee and holds the CAD until you spend it.