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Overall best choice: Wise
We tested & reviewed dozens of money transfer providers, and Wise scored highly.
Wise appeared in 84.6% of Canada to South Africa searches, and was the top rated company out of 10 that support CAD to ZAR.
So for a great mix of cost, speed & features, make your Canada to South Africa transfer using Wise.
How to get the best deal on your Canada to South Africa transfer
Summary of recent searches
Important things to consider before sending money from Canada to South Africa
Don't settle for the first option. Always compare ways to send money from Canada to South Africa to find out about fees, speed, and reliability.
Our analysis included 10 providers that operate between Canada and South Africa.
Through this, you get a comprehensive view of all the options you have in Canada when you need to send money to South Africa.
Cheapest way to send money to South Africa from Canada: OFX
Data collected over the past six months show that OFX is 0.9% cheaper than the second-best option.
The $0 transfer cost represents the most common fee for CAD to ZAR international transfers, based on data from the past six months.
If you want to secure the best rates on a CAD to South Africa transfer, make sure you pick OFX to send your money online.
*The most common fee applied to CAD-ZAR by OFX, based on data from the past six months.
Fastest way to send money from Canada to South Africa: Wise
Our data shows that Wise came up as the fastest way to send money from Canada to South Africa in 41.7% of searches. This makes them well suited to urgent CAD to ZAR money transfers.
The 'fastest' way to send money is defined by the overall speed of sending money from Canada to South Africa - this includes deposit, transfer and withdrawal timeframes and often differs per currency.
When speed matters, Wise is your best choice at the moment. This service emerged as the quickest way to send money to South Africa from Canada in 41.7% of the searches on MoneyTransfers.com over the past six months.
Need to send over $10,000?
Opt for a service proven with large transfers when size matters. For transfers over $10,000, your best bet is Wise.
While Wise may not always be the cheapest or fastest way to send CAD from Canada to South Africa, it’s the provider that will keep you safe and relaxed while your money moves into ZAR.
Understanding the costs involved when moving money from Canada to South Africa
When calculating the costs of money transfers between Canada and South Africa, here's what really matters:
The Mid-Market Rate: Today, the CAD-ZAR mid-market rate equals to 13.786455. Keep in mind that this rate fluctuates all the time.
The CAD-ZAR average exchange rate of the past three months has been 13.9267, with a highest of 14.0826 and a lowest of 13.5759.
When in doubt, use Wise. On average, Wise hovers just -0.11% above the mid-market rate.
Fees and Markups: That's where Wise shines, combining the best of both worlds: excellent CAD to ZAR rates that are only -0.11% away from the average. That's savvy transferring for you.
How to find the best exchange rate for Canadian Dollar to Rand
Timing is essential sending money between CAD and ZAR. The exchange rate you secure impacts how much ZAR you get for your CAD.
Let's dive into some interesting recent trends.
Over the past six months, the exchange rate from CAD to ZAR has seen some fluctuation. On average, it stood at 13.9267.
During this period, the highest value recorded was 14.0826, while the lowest was 13.5759.
Wise, which is our recommended service to send money online from Canada to South Africa offers an exchange rate that is only 0.02% above the mid-market rate.
Want to secure the best CAD-Rand exchange rates?
Sign up for our rate alerts and we'll tell you when it's the best time to move your money from Canada to South Africa!
Payment methods available to fund your Canada to South Africa transfer
Bank transfers
Traditional bank transfers are often the default option for sending money from Canada to South Africa.
By using a money transfer company, you can still send a bank transfer, but avoid many of the downsides.
Using OFX for sending money online from Canada to South Africa, you can save a lot of money on fees. With an average fee of CAD0 to send money from Canada to South Africa, OFX offers a great combination of competitive exchange rates and lower fees.
You can make a bank transfer, funding your OFX account, as this offers the best service to send CAD to South Africa with this payment method.
In the past six months OFX received an impressive 50% recommendation rate for bank transfers payments between Canada and South Africa.
Debit and prepaid cards
Sending money from Canada to South Africa with a debit or a prepaid card is very simple with Wise.
Wise is a leader in debit card payments for transfers from Canada to South Africa, competing among a total of 10 active money transfer companies on this route. They consistently rank at the top in this category.
Our data show that Wise was best in this area with a 69.2% recommendation rate over the past six months.
Credit cards
When it comes to credit card transfers, Wise emerges as our top choice.
Among 10 companies offering this service, our comparison engine's last six months of data on CAD to ZAR searches show Wise has been ranked as the best provider.
They have an impressive 66.7% recommendation rate for this payment method.
Fee alert: using a credit card to transfer money often results in a fee being charged by your card issuer. That's why we recommend bank transfer or debit card instead.
How we analyze the market
We track the cost, speed, and product offerings of the leading money transfer services available between South Africa and Canada.
Our comparison engine and algorithms evaluate providers based on over 25 factors.
We also consider how these services are rated on platforms like TrustPilot, AppStore, and Google Play, giving you a comprehensive view of what to expect.
This thorough analysis helps you get the best available deal - every time you want to move money from Canada to South Africa .
We also provide unbiased and detailed reviews of all the top money transfer companies. You can use these reviews to send CAD to ZAR.
For a deeper understanding of our commitment to integrity and transparency, we invite you to read our editorial policy document.
Money transfer company reviews
