Best companies for CAD/MXN transfers
15 of 15 providers Last updated on 28 October 2026
Based on 1,000 CAD transfer Best companies for CAD/MXN transfers Sort Cheapest
Ad Wise Pay via Bank Transfer	Fees: $8.55 1 CAD = 13.2842 MXN -0.01% vs mid-market	Recipient gets $13,170.62 Same day
25 reviews Receive to bank accountDedicated support for large transfers
Ways to receive money in Mexico with Wise when paying by bank transfer. MethodFee & ratesRecipient gets Bank depositSame dayAvailable via:Bank Transfer $8.551 CAD = 13.2842 MXN $13,170.62You pay$1,000.00
Ad WorldRemit Pay via Debit Card	Fees: $2.99 1 CAD = 12.9917 MXN +2.22% vs mid-market	Recipient gets $12,952.81 Next Day
13 reviews Receive to bank account or cash pickup
Ways to receive money in Mexico with WorldRemit when paying by debit card. MethodFee & ratesRecipient gets Bank depositNext Day $2.991 CAD = 12.9917 MXN $12,952.81You pay$1,000.00 Cash pickupNext Day $3.991 CAD = 12.9518 MXN $12,900.13You pay$1,000.00
Run a live search Showing top Canada to Mexico 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 MXN rates.
Run a live search These companies offer multi-currency accounts for spending MXN. We suggest doing a live search based on how much CAD you're planning to spend in Mexico.
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.
Remitly Pay via Bank Transfer	Fees: $0.00 1 CAD = 13.8000 MXN -3.82% vs mid-market	Recipient gets $13,800.00 Within a week
15 reviews Cheapest Receive to bank account or cash pickup
Ways to receive money in Mexico with Remitly when paying by bank transfer. MethodFee & ratesRecipient gets Bank depositWithin a week Free1 CAD = 13.8000 MXN $13,800.00You pay$1,000.00

Remitly Pay via Interac	Fees: $0.00 1 CAD = 13.8000 MXN -3.82% vs mid-market	Recipient gets $13,800.00 Within a week
15 reviews Receive to bank account or cash pickup
Ways to receive money in Mexico with Remitly when paying by interac. MethodFee & ratesRecipient gets Bank depositWithin a week Free1 CAD = 13.8000 MXN $13,800.00You pay$1,000.00
Remitly Pay via Debit Card	Fees: $0.00 1 CAD = 13.6500 MXN -2.72% vs mid-market	Recipient gets $13,650.00 Within minutes
15 reviews Receive to bank account or cash pickup
Ways to receive money in Mexico with Remitly when paying by debit card. MethodFee & ratesRecipient gets Bank depositWithin minutes Free1 CAD = 13.6500 MXN $13,650.00You pay$1,000.00

Remitly Pay via Credit Card	Fees: $20.00 1 CAD = 13.6500 MXN -2.72% vs mid-market	Recipient gets $13,650.00 Within minutes
15 reviews Receive to bank account or cash pickup
Ways to receive money in Mexico with Remitly when paying by credit card. MethodFee & ratesRecipient gets Bank depositWithin minutes $20.001 CAD = 13.6500 MXN $13,650.00You pay$1,020.00
Western Union Pay via Debit Card	Fees: $0.00 1 CAD = 13.3834 MXN -0.75% vs mid-market	Recipient gets $13,384.00 Next Day
8 reviews Receive to bank account or cash pickup
Ways to receive money in Mexico with Western Union when paying by debit card. MethodFee & ratesRecipient gets Bank depositNext Day Free1 CAD = 13.3834 MXN $13,384.00You pay$1,000.00

Western Union Pay via Bank Transfer	Fees: $0.00 1 CAD = 13.3834 MXN -0.75% vs mid-market	Recipient gets $13,384.00 Next Day
8 reviews Receive to bank account or cash pickup
Ways to receive money in Mexico with Western Union when paying by bank transfer. MethodFee & ratesRecipient gets Bank depositNext Day Free1 CAD = 13.3834 MXN $13,384.00You pay$1,000.00
TapTap Send Pay via Debit Card	Fees: $0.00 1 CAD = 13.2400 MXN +0.32% vs mid-market	Recipient gets $13,240.00 Minutes
0 reviews Fastest Receive to bank account
Ways to receive money in Mexico with TapTap Send when paying by debit card. MethodFee & ratesRecipient gets Cash pickupMinutesAvailable via:7-Eleven, Bank Pickup, Bodega Aurrera, Chedraui, Coppel+5 more Free1 CAD = 13.2400 MXN $13,240.00You pay$1,000.00 Bank depositMinutes $2.491 CAD = 13.2400 MXN $13,240.00You pay$1,002.49 Mobile walletMinutesAvailable via:Spin by Oxxo $2.491 CAD = 13.2400 MXN $13,240.00You pay$1,002.49 Card depositMinutesAvailable via:Pay To Card $6.831 CAD = 13.2400 MXN $13,240.00You pay$1,006.83 Mobile moneyMinutesAvailable via:Elektra $7.991 CAD = 13.2400 MXN $13,240.00You pay$1,007.99
Remitbee Pay via Interac	Fees: $0.00 1 CAD = 13.2389 MXN +0.33% vs mid-market	Recipient gets $13,238.90 Next Day
0 reviews
Ways to receive money in Mexico with Remitbee when paying by interac. MethodFee & ratesRecipient gets Bank depositNext Day Free1 CAD = 13.2389 MXN $13,238.90You pay$1,000.00

Remitbee Pay via Bill payment	Fees: $0.00 1 CAD = 13.2389 MXN +0.33% vs mid-market	Recipient gets $13,238.90 Next Day
0 reviews
Ways to receive money in Mexico with Remitbee when paying by bill payment. MethodFee & ratesRecipient gets Bank depositNext Day Free1 CAD = 13.2389 MXN $13,238.90You pay$1,000.00
Remitbee Pay via Bank Transfer	Fees: $0.00 1 CAD = 13.2389 MXN +0.33% vs mid-market	Recipient gets $13,238.90 Next Day
0 reviews
Ways to receive money in Mexico with Remitbee when paying by bank transfer. MethodFee & ratesRecipient gets Bank depositNext Day Free1 CAD = 13.2389 MXN $13,238.90You pay$1,000.00
Paysend Pay via Debit Card	Fees: $0.00 1 CAD = 13.2339 MXN +0.37% vs mid-market	Recipient gets $13,233.91 6-12 Hours
0 reviews
Ways to receive money in Mexico with Paysend when paying by debit card. MethodFee & ratesRecipient gets Bank deposit6-12 Hours Free1 CAD = 13.2339 MXN $13,233.91You pay$1,000.00

Paysend Pay via Credit Card	Fees: $0.00 1 CAD = 13.2339 MXN +0.37% vs mid-market	Recipient gets $13,233.91 6-12 Hours
0 reviews
Ways to receive money in Mexico with Paysend when paying by credit card. MethodFee & ratesRecipient gets Bank deposit6-12 Hours Free1 CAD = 13.2339 MXN $13,233.91You pay$1,000.00
Koho Pay via Bank Transfer	Fees: $4.92 1 CAD = 13.2789 MXN +0.03% vs mid-market	Recipient gets $13,213.63 Within minutes
0 reviews Receive to bank account
Ways to receive money in Mexico with Koho when paying by bank transfer. MethodFee & ratesRecipient gets Bank depositWithin minutesAvailable via:Bank Transfer $4.921 CAD = 13.2789 MXN $13,213.63You pay$1,000.00
OFX Pay via Bank Transfer	Fees: $0.00 1 CAD = 13.1968 MXN +0.65% vs mid-market	Recipient gets $13,196.75 6-12 Hours
7 reviews Receive to bank account
Ways to receive money in Mexico with OFX when paying by bank transfer. MethodFee & ratesRecipient gets Bank deposit6-12 Hours Free1 CAD = 13.1968 MXN $13,196.75You pay$1,000.00
Currencies Direct Pay via Bank Transfer	Fees: $0.00 1 CAD = 13.1962 MXN +0.66% vs mid-market	Recipient gets $13,196.20 6-12 Hours
3 reviews Receive to bank account
Ways to receive money in Mexico with Currencies Direct when paying by bank transfer. MethodFee & ratesRecipient gets Bank deposit6-12 Hours Free1 CAD = 13.1962 MXN $13,196.20You pay$1,000.00
Wise Pay via Bank Transfer	Fees: $8.55 1 CAD = 13.2842 MXN -0.01% vs mid-market	Recipient gets $13,170.62 Same day
25 reviews Recommended Receive to bank accountDedicated support for large transfers
Ways to receive money in Mexico with Wise when paying by bank transfer. MethodFee & ratesRecipient gets Bank depositSame dayAvailable via:Bank Transfer $8.551 CAD = 13.2842 MXN $13,170.62You pay$1,000.00
$0 fee on first online transfers MoneyGram Pay via Debit Card	Fees: $2.99 1 CAD = 13.1453 MXN +1.04% vs mid-market	Recipient gets $13,145.30 6-12 Hours
2 reviews
Ways to receive money in Mexico with MoneyGram when paying by debit card. MethodFee & ratesRecipient gets Cash pickup6-12 Hours $2.991 CAD = 13.1453 MXN $13,145.30You pay$1,002.99 Mobile wallet6-12 HoursAvailable via:Spin By OXXO, Mercado Pago $1.991 CAD = 13.1141 MXN $13,114.10You pay$1,001.99 Bank deposit6-12 HoursAvailable via:HSBC, Santander, BBVA Bancomer, Banorte, Citibanamex+3 more $1.891 CAD = 13.0967 MXN $13,096.70You pay$1,001.89

$0 fee on first online transfers MoneyGram Pay via Credit Card	Fees: $2.99 1 CAD = 13.1453 MXN +1.04% vs mid-market	Recipient gets $13,145.30 6-12 Hours
2 reviews
Ways to receive money in Mexico with MoneyGram when paying by credit card. MethodFee & ratesRecipient gets Cash pickup6-12 Hours $2.991 CAD = 13.1453 MXN $13,145.30You pay$1,002.99 Mobile wallet6-12 HoursAvailable via:Spin By OXXO, Mercado Pago $1.991 CAD = 13.1141 MXN $13,114.10You pay$1,001.99 Bank deposit6-12 HoursAvailable via:HSBC, Santander, BBVA Bancomer, Banorte, Citibanamex+3 more $1.891 CAD = 13.0967 MXN $13,096.70You pay$1,001.89
$0 fee on first online transfers MoneyGram Pay via Cash deposit	Fees: $2.99 1 CAD = 13.1453 MXN +1.04% vs mid-market	Recipient gets $13,145.30 6-12 Hours
2 reviews
Ways to receive money in Mexico with MoneyGram when paying by cash deposit. MethodFee & ratesRecipient gets Cash pickup6-12 Hours $2.991 CAD = 13.1453 MXN $13,145.30You pay$1,002.99 Mobile wallet6-12 HoursAvailable via:Spin By OXXO, Mercado Pago $1.991 CAD = 13.1141 MXN $13,114.10You pay$1,001.99 Bank deposit6-12 HoursAvailable via:BBVA Bancomer, BanCoppel, All Banks, Banorte, Citibanamex+3 more $1.891 CAD = 13.0967 MXN $13,096.70You pay$1,001.89
Remitbee Pay via Debit Card	Fees: $8.99 1 CAD = 13.2389 MXN +0.33% vs mid-market	Recipient gets $13,119.88 Next Day
0 reviews
Ways to receive money in Mexico with Remitbee when paying by debit card. MethodFee & ratesRecipient gets Bank depositNext Day $8.991 CAD = 13.2389 MXN $13,119.88You pay$1,000.00
Wise Pay via Interac	Fees: $14.25 1 CAD = 13.2842 MXN -0.01% vs mid-market	Recipient gets $13,094.90 Within minutes
25 reviews Receive to bank accountDedicated support for large transfers
Ways to receive money in Mexico with Wise when paying by interac. MethodFee & ratesRecipient gets Bank depositWithin minutesAvailable via:Bank Transfer $14.251 CAD = 13.2842 MXN $13,094.90You pay$1,000.00
CurrencyFair Pay via Bank Transfer	Fees: $3.94 1 CAD = 13.0851 MXN +1.50% vs mid-market	Recipient gets $13,032.76 6-12 Hours
3 reviews Receive to bank account
Ways to receive money in Mexico with CurrencyFair when paying by bank transfer. MethodFee & ratesRecipient gets Bank deposit6-12 Hours $3.941 CAD = 13.0851 MXN $13,032.76You pay$1,000.00
Wise Pay via Debit Card	Fees: $19.54 1 CAD = 13.2842 MXN -0.01% vs mid-market	Recipient gets $13,024.63 Within minutes
25 reviews Receive to bank accountDedicated support for large transfers
Ways to receive money in Mexico with Wise when paying by debit card. MethodFee & ratesRecipient gets Bank depositWithin minutesAvailable via:Bank Transfer $19.541 CAD = 13.2842 MXN $13,024.63You pay$1,000.00
Moneycorp Pay via Bank Transfer	Fees: $0.00 1 CAD = 13.0174 MXN +2.00% vs mid-market	Recipient gets $13,017.43 Next Day
0 reviews
Ways to receive money in Mexico with Moneycorp when paying by bank transfer. MethodFee & ratesRecipient gets Bank depositNext Day Free1 CAD = 13.0174 MXN $13,017.43You pay$1,000.00
Only available via Mobile App WorldRemit Pay via Debit Card	Fees: $2.99 1 CAD = 12.9917 MXN +2.22% vs mid-market	Recipient gets $12,952.81 Next Day
13 reviews Receive to bank account or cash pickup
Ways to receive money in Mexico with WorldRemit when paying by debit card. MethodFee & ratesRecipient gets Bank depositNext Day $2.991 CAD = 12.9917 MXN $12,952.81You pay$1,000.00 Cash pickupNext Day $3.991 CAD = 12.9518 MXN $12,900.13You pay$1,000.00
RBC Pay via Bank Transfer	Fees: $0.00 1 CAD = 12.9251 MXN +2.73% vs mid-market	Recipient gets $12,925.13 6-12 Hours
0 reviews
Ways to receive money in Mexico with RBC when paying by bank transfer. MethodFee & ratesRecipient gets Bank deposit6-12 Hours Free1 CAD = 12.9251 MXN $12,925.13You pay$1,000.00
Wise Pay via Credit Card	Fees: $34.25 1 CAD = 13.2842 MXN -0.01% vs mid-market	Recipient gets $12,829.22 Within minutes
25 reviews Receive to bank accountDedicated support for large transfers
Ways to receive money in Mexico with Wise when paying by credit card. MethodFee & ratesRecipient gets Bank depositWithin minutesAvailable via:Bank Transfer $34.251 CAD = 13.2842 MXN $12,829.22You pay$1,000.00
TD Bank Pay via Bank Transfer	Fees: $0.00 1 CAD = 12.7574 MXN +4.04% vs mid-market	Recipient gets $12,757.38 6-12 Hours
0 reviews
Ways to receive money in Mexico with TD Bank when paying by bank transfer. MethodFee & ratesRecipient gets Bank deposit6-12 Hours Free1 CAD = 12.7574 MXN $12,757.38You pay$1,000.00
How Our Results Work Mid-market rate: 1 CAD = 13.2831 MXN Updates every 60 minutes.

Why compare

CAD/MXN exchange rate

Best ways to pay & receive

Transfer speed

How to send money from Canada to Mexico

Pick a company

Start with the cheapest, which is Remitly at 13,800 MXN on CA$1,000.

Remitly was the cheapest on 16 of the 30 days it quoted CA$1,000 transfers to Mexico.

More than half of Canadians sending money still pay at a store counter. The same company is often cheaper online.

Fund your transfer

You have 6 ways to pay, including bank transfer, debit card, credit card, interac, bill payment, and cash deposit.

Interac e-Transfer is how most companies take your money, moving it into their Canadian account so they can carry it over the border.

Verify and send

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.

Compare amounts

How much CAD are you sending to Mexico?

How much CAD you send to Mexico 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 Remitly was the cheapest in 61% of the transfers up to C$1,000 it quoted, and in 63% of all the transfers it quoted.


$100	-3.61%	$0.00	$1,378.00with bank transfer to bank deposit	+$68.51
$500	-3.81%	$0.00	$6,900.00with bank transfer to bank deposit	+$297.63
$700	-3.88%	$0.00	$9,667.00with bank transfer to bank deposit	+$417.78
$1,000This page	-3.82%	$0.00	$13,800.00with bank transfer to bank deposit	+$583.58
$3,000	-0.97%	$0.00	$40,200.00with bank transfer to bank deposit	+$748.48
$10,000	0.25%	$0.00	$132,593.10with bank transfer to bank deposit	+$802.54
$25,000	0.25%	$0.00	$331,213.44with bank transfer to bank deposit	+$1,828.74
$50,000	0.20%	$0.00	$662,291.81with bank transfer to bank deposit	+$3,647.78
$100,000	0.20%	$0.00	$1,325,657.57with bank transfer to bank deposit	+$7,674.42

Mid-market rate: 1 CAD = 13.2831 MXN

CAD/MXN Exchange Rate History

Is today a good time to send money from Canada to Mexico?

The cheapest way to send CAD to MXN 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 Remitly), across 30 days of comparisons for 1,000 CAD transfers to Mexico.

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. The bank line is the cheapest bank available on each day.

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 MXN per CAD than the mid-market rate can offer.

This could be due to money transfer offers, FX rate adjustments, or market competitiveness.

In the past month, a money transfer company beat the mid-market rate on 25 of the last 30 days.

Right now, Remitly pays 13,800 MXN on 1,000 CAD, which is 516.91 MXN more than the mid-market amount, so it's a good deal (pretty much free money).

Today's payout isn't the best this month though, since the highest receive amount was 13,900 MXN.

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.

If you need to send money now, it's a good time to send.

Ways to send money from Canada to Mexico

There are 15 companies sending money to Mexico, but how you send depends on your needs.

Most common option

In-person transfers

Hand your cash over the counter and your recipient can collect it the same day without needing an app or bank account.

Bring CA$1,000 in cash to the closest Remitly location, and your recipient picks up 13,800 MXN within minutes.

Our data shows Remitly came out cheapest among in-person options on 53% of days in the past month.

Cash transfers cost more

Cash transfer to Mexico is usually the most expensive option, compare your options above to get the best deal.

For transfers home

Money transfer apps

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.

Remitly charges CA$0 in fees and adds -3.82% markup, so your CA$1,000 delivers 13,800 MXN in within a week.

Over the past month, Remitly was the cheapest app on 53% 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

Online transfers

For bigger or less frequent transfers, compare a couple of online services on the day, and pick the cheapest.

Of the 15 companies we compared, Remitly is the cheapest online service and currently gets you 13,800 MXN on a CA$1,000 transfer after a CA$0 fee and -3.82% markup.

In our comparisons over the past month, it was the cheapest online service on 16 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.

The most expensive way

Banks

A wire from your bank carries a $30 to $80 fee, plus another 1.5 to 3% inside the exchange rate that you won't see itemized anywhere.

On a CA$1,000 transfer, a bank like RBC delivers 12,925.13 MXN, against 13,800 MXN with Remitly.

We found RBC was the cheapest bank on 30 of the 30 days it appeared for this amount.

The wire can feel like the safer choice for a big amount, but bank deposit insurance and the safeguards used by money transfer companies are just as safe, just different protections.

For large transfers from Canada

Currency brokers

For property, tuition, moving from Canada, or an inheritance, a broker is the best and usually the cheapest option.

Brokers like OFX charge no fees but add 0.65% on CAD/MXN interbank rate.

The markup gets lower the more you send, with an account manager handling it end to end.

Our analysis shows OFX was the cheapest broker in 26% of all the transfers it quoted.

If you're sending large amounts, expect more questions about the transfers, so have statements and documents ready to avoid delays.

If you already have one

Challenger banks

Some neobanks in Canada include international transfers with no transfer fee as part of the account.

Koho sends your CA$1,000 for CA$4.92 in fees with 0.03% markup.

It's a good option for small occasional transfers, but I still suggest .

Our data shows Koho came out cheapest among challenger banks on 100% of days in the past month.

For businesses paying abroad

Global accounts

Global accounts handle the business side, paying suppliers, contractors and overseas invoices in MXN.

Companies like OFX, Airwallex, or WorldFirst are set up for the batch and recurring payments a personal app can't do.

For spending abroad and getting paid

Multi-currency accounts

If part of your life runs in MXN, be it spending it, saving it, or waiting for a better rate, a multi-currency account can hold it alongside your CAD.

Currencies Direct lets you hold CAD and MXN, and convert between them at low cost.

For example, converting $1,000 costs $0 in fees at 0.66% markup, which gets you 13,196.2 MXN.

Over the past month, it came out cheapest among multi-currency accounts on 100% of days.

Ways to fund CAD and receive MXN in Mexico

With Remitly, paying by bank transfer and receiving through bank deposit is the cheapest combination. Sending CA$1,000 gives your recipient 13,800 MXN.

Our data shows that Remitly gets your recipient 874.87 MXN more than RBC, today's cheapest bank, on the same CA$1,000.

Deposit CAD using bank transfer, debit card, credit card, interac, bill payment, and cash deposit.

I suggest using Interac e-Transfer for simplicity

Follow the company's Interac instructions and check the business name before sending.

Do not send to an email address supplied outside the company's app or website.

The recipient can receive MXN through bank deposit, cash pickup, mobile wallet, card deposit, and mobile money.

For a bank deposit payout, you will need the recipient's bank details in Mexico.

1

Bank transfer Bank deposit

You pay CA$1,000.00

MX$13,800

Cheapest
2

Interac Bank deposit

You pay CA$1,000.00

MX$13,800

MX$0
3

debit card Bank deposit

You pay CA$1,000.00

MX$13,650

-MX$150
4

credit card Bank deposit

You pay CA$1,020.00

MX$13,650

-MX$150
5

debit card Cash pickup

You pay CA$1,000.00

MX$13,240

-MX$560

Show moreShow less

6

debit card Mobile wallet

You pay CA$1,002.49

MX$13,240

-MX$560
7

debit card Card deposit

You pay CA$1,006.83

MX$13,240

-MX$560
8

debit card Mobile money

You pay CA$1,007.99

MX$13,240

-MX$560
9

Bill payment Bank deposit

You pay CA$1,000.00

MX$13,239

-MX$561
10

credit card Cash pickup

You pay CA$1,002.99

MX$13,145

-MX$655
11

Cash deposit Cash pickup

You pay CA$1,002.99

MX$13,145

-MX$655
12

credit card Mobile wallet

You pay CA$1,001.99

MX$13,114

-MX$686
13

Cash deposit Mobile wallet

You pay CA$1,001.99

MX$13,114

-MX$686
14

Cash deposit Bank deposit

You pay CA$1,001.89

MX$13,097

-MX$703

Consider this when sending CAD to Mexico

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.

Compare CAD/MXN transfer options

For a CA$1,000 transfer to Mexico, these are the cheapest, fastest and easiest options available now.

Best way to send money to Mexico

Remitly is the cheapest and easiest option, funded by bank transfer with bank deposit for the payout. Your recipient gets 13,800 MXN, which is 3.01% more than the next best option.

Fastest way to send money to Mexico

TapTap Send is fastest when you pay by debit card and choose cash pickup for the payout. The transfer delivers 13,240 MXN in minutes.

Interac only works inside Canada

An Interac e-Transfer cannot go directly to a recipient in Mexico.

When a transfer company accepts Interac, you send CAD to its Canadian account and the company handles the international side over its own network.

C$10,000 reporting threshold

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.

CDIC protection

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.

How we analyse the market

Most of the pricing here comes straight from the companies, and anything we gather by hand is labelled in the table.

That covers 15 FINTRAC-registered companies sending CAD to Mexico, 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 256 comparisons across 9 amounts.

This page covers the cheapest and fastest options for CAD/MXN 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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Tue, Sep 29, 2026	Exchange rate	Fees:	Recipient gets	Difference
Mid-market rate	12.6892	–	$12,689.19
Western Union Cheapest	12.6881	$0.00	$12,689.00	−$0.19
Remitly	12.6300	$0.00	$12,630.00	−$59.19
TapTap Send	12.6000	$0.00	$12,600.00	−$89.19
RBC	12.3398	$0.00	$12,339.78	−$349.41

Wed, Sep 30, 2026	Exchange rate	Fees:	Recipient gets	Difference
Mid-market rate	12.7294	–	$12,729.44
Western Union Cheapest	12.7781	$0.00	$12,779.00	+$49.56
TapTap Send	12.7500	$0.00	$12,750.00	+$20.56
Remitly	12.6600	$0.00	$12,660.00	−$69.44
RBC	12.3398	$0.00	$12,339.78	−$389.66

Thu, Oct 1, 2026	Exchange rate	Fees:	Recipient gets	Difference
Mid-market rate	12.6900	–	$12,689.98
Western Union Cheapest	12.7856	$0.00	$12,786.00	+$96.02
TapTap Send	12.7000	$0.00	$12,700.00	+$10.02
Remitly	12.6200	$0.00	$12,620.00	−$69.98
RBC	12.3580	$0.00	$12,357.96	−$332.02

Fri, Oct 2, 2026	Exchange rate	Fees:	Recipient gets	Difference
Mid-market rate	12.8487	–	$12,848.71
Western Union Cheapest	12.9041	$0.00	$12,905.00	+$56.29
TapTap Send	12.8500	$0.00	$12,850.00	+$1.29
Remitly	12.7800	$0.00	$12,780.00	−$68.71
RBC	12.3580	$0.00	$12,357.96	−$490.75

Sat, Oct 3, 2026	Exchange rate	Fees:	Recipient gets	Difference
Mid-market rate	12.7460	–	$12,746.04
Western Union Cheapest	12.9205	$0.00	$12,921.00	+$174.96
TapTap Send	12.7500	$0.00	$12,750.00	+$3.96
Remitly	12.6700	$0.00	$12,670.00	−$76.04
RBC	12.4069	$0.00	$12,406.95	−$339.09

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