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Send money to Canada
USD
CAD|Updated recentlyMid-market 1.3753Cheapest todayof 8 providers
Wise
Rate 1.3744 · Fee $14.40
You send
$1,000
Recipient gets
C$1,355
Affiliate link · No extra cost to you
Quick answer: The cheapest way to send money to Canada in May 2026 is Wise, which delivers 1,354.64 CAD on a 1,000 USD transfer with a fee of $14.40 and an exchange rate of 1.3744.
Last reviewed: by Awais Imran, Reviews Editor
↗
Rates are good right now
58th percentile
Based on 6 days of data (2026-03-13 to 2026-03-18)
Today's best
C$136.42
InstaReM
6-day avg
1 USD = 1.36 CAD
Best rate
1.37
2026-03-13 · InstaReM
Worst rate
1.36
2026-03-16 · InstaReM
What is the cheapest way to send USD to CAD?
Sending $1,000 from to Canada. Sorted by best value — most money received.
Source: SendMoneyCompare · Data updated every 6 hours from live provider APIs
#ProviderRateFeeRecipient gets
Rate 1.3744·Fee $14.40·0.06% markup
↓ 0.2% over 6dAvg: 1.37 CADRange: 1.37–1.37
1
1.3744
$14.40
C$1,354.64
Rate 1.3704·Fee $14.41·0.35% markup
↓ 0.1% over 6dAvg: 1.36 CADRange: 1.36–1.37
2
1.3704
$14.41
C$1,350.70
Rate 1.3660·Fee $30.18·0.67% markup
Rate 1.3656·Fee $33.14·0.70% markup
Rate 1.3645·Fee $36.10·0.78% markup
Rate 1.3579·Fee $60.73·1.26% markup
Rate 1.3520·Fee $82.55·1.69% markup
10.8% markup
↓ 0.1% over 6dAvg: 1.22 CADRange: 1.22–1.22
7
1.3520
$82.55
C$1,240.41
Rate 1.3684·Fee Free·0.50% markup
Some links on this page are affiliate links. We may earn a commission at no extra cost to you. This does not affect our rankings, which are based on real transfer data. Editorial policy
Canada is a major destination for money transfers, particularly from Indian, Filipino, Chinese, and Lebanese diaspora communities who send funds to family members who have recently immigrated. Interac e-Transfer — Canada's peer-to-peer payment network — is accepted by all major Canadian banks and credit unions, enabling instant transfers directly to a recipient's email or phone number.
- Interac e-Transfer allows instant transfers to any Canadian bank account using just an email or phone number. Several international providers now deliver directly via Interac e-Transfer, eliminating wait times.
- Major Canadian banks: RBC, TD Canada Trust, Scotiabank, BMO, and CIBC all have branch networks across Canada. Credit unions like Desjardins are also popular, especially in Quebec.
- Canadian bank accounts use a Transit Number (5 digits) + Institution Number (3 digits) + Account Number (7–12 digits). No IBAN is used. SWIFT codes are required for international wires.
- FINTRAC (Financial Transactions and Reports Analysis Centre of Canada) regulates all financial transfers. Transfers above CAD 10,000 in cash are reportable. Electronic transfers have no reporting threshold but are monitored.
- The CAD (Canadian dollar) is closely correlated with oil prices and USD. It is a major traded currency — rate differences between providers are smaller than for emerging market currencies.
Which provider offers the best USD to CAD rate?
Wise
4.3Exchange rate
1.3744
Fee
$14.40
Recipient gets
C$1,354.64
Speed
Instant to 2 days
Which provider is best for each transfer type?
Different providers excel at different things. Here's who's best for each use case on the to Canada route.
Cheapest transfer
Wise
Delivers the most CAD for your money
Fastest transfer
Wise
Delivers in Instant to 2 days
Cash pickup
Remitly
Widest cash pickup network
Bank transfer
Wise
Best rate for bank deposit to Canada
How to send money to Canada
Sending money to Canada is straightforward with the right provider. Here's how it works in 3 simple steps.
Step 1
Enter your transfer details
Choose how much USD you want to send, compare providers above, and pick the one offering the best CAD amount for your transfer to Canada.
Step 2
Add your recipient
Enter your recipient's details in Canada — you'll need their bank account number. Most providers verify details instantly.
Step 3
Send & track your transfer
Pay using bank transfer, debit card, or credit card. Track your money in real-time until it arrives — bank deposit typically takes 1–3 business days.
What you need to send money to Canada
Make sure you have these details from your recipient before starting your transfer.
Full name
Recipient's full legal name as it appears on their bank account
Bank account number
Recipient's bank account number
Bank name
Name of the receiving bank
SWIFT/BIC code
Optional8 or 11-character SWIFT code identifying the bank (may be optional with IBAN)
Note: You need the recipient's bank account number and bank name. Contact the recipient's bank for their SWIFT/BIC code if required.
Transfer examples: USD to CAD
See how much your recipient would get for common transfer amounts.
Send $500
ProviderFeeReceives
Wise
1.37 · Instant to 2 days
Remitly
1.37 · Minutes to 3-5 days
XE
1.37 · 1-4 business days
CurrencyFair
1.37 · 1-2 business days
OFX
1.36 · 1-3 business days
Currencies Direct
1.36 · 1-2 business days
ProviderFeeRateReceivesSpeed
Wise$14.401.37C$667Instant to 2 days
Remitly$14.411.37C$665Minutes to 3-5 days
XE$30.181.37C$6421-4 business days
CurrencyFair$33.141.37C$6381-2 business days
OFX$36.101.36C$6331-3 business days
Currencies Direct$60.731.36C$5971-2 business days
Send $1,000
ProviderFeeReceives
Wise
1.37 · Instant to 2 days
Remitly
1.37 · Minutes to 3-5 days
XE
1.37 · 1-4 business days
CurrencyFair
1.37 · 1-2 business days
OFX
1.36 · 1-3 business days
Currencies Direct
1.36 · 1-2 business days
ProviderFeeRateReceivesSpeed
Wise$14.401.37C$1,355Instant to 2 days
Remitly$14.411.37C$1,351Minutes to 3-5 days
XE$30.181.37C$1,3251-4 business days
CurrencyFair$33.141.37C$1,3201-2 business days
OFX$36.101.36C$1,3151-3 business days
Currencies Direct$60.731.36C$1,2751-2 business days
Send $5,000
ProviderFeeReceives
Wise
1.37 · Instant to 2 days
Remitly
1.37 · Minutes to 3-5 days
XE
1.37 · 1-4 business days
CurrencyFair
1.37 · 1-2 business days
OFX
1.36 · 1-3 business days
Currencies Direct
1.36 · 1-2 business days
ProviderFeeRateReceivesSpeed
Wise$14.401.37C$6,852Instant to 2 days
Remitly$14.411.37C$6,832Minutes to 3-5 days
XE$30.181.37C$6,7891-4 business days
CurrencyFair$33.141.37C$6,7831-2 business days
OFX$36.101.36C$6,7731-3 business days
Currencies Direct$60.731.36C$6,7071-2 business days
How much does it cost to send money from to Canada?
Transfer fees to Canada vary by provider and how you pay. Specialist services charge C$0–10 per transfer, while banks charge $25–50 plus a 2–5% exchange rate markup. The exchange rate markup is usually the bigger cost — always compare the total CAD your recipient receives.
Understanding the total cost
The true cost of a money transfer has two components:
Transfer fee
The upfront charge — typically $0–$10 with specialist providers.
Exchange rate markup
The hidden cost — the difference between the provider's rate and the mid-market rate (1.3753).
Ways to send money to Canada
Choose how you want to pay for your transfer. Each payment method has different costs and speeds.
Bank deposit is the standard delivery method for transfers to Canada. Cash pickup is available through international providers like Western Union and MoneyGram.
Bank Transfer
Low costSpeed: 1–3 business days
Usually the cheapest option — lowest fees and no card processing charges
Debit Card
Medium costSpeed: Minutes to hours
Fast and convenient — small card processing fee applies
Credit Card
Higher costSpeed: Minutes to hours
Fastest option but highest fees — card issuer may charge cash advance fee
Apple Pay
Medium costSpeed: Minutes to hours
Convenient mobile payment — linked card fees apply
How can my recipient receive money in Canada?
Your recipient in Canada can receive money through these delivery methods. The best option depends on their location and preferences.
Bank Deposit
1–3 business days
Direct transfer to bank accounts in Canada.
WiseRemitlyWorldRemitWestern Union
Cash Pickup
Minutes
Collect cash from agent locations in Canada.
Western UnionMoneyGram
What are the transfer limits and regulations for Canada?
Important rules and requirements to know before sending money to Canada.
Documentation you may need
- Government-issued photo ID (passport, driver's license, or state ID)
- Proof of address may be required for first-time transfers
Important things to know
- Check your provider's specific limits and requirements for transfers to Canada.
- Transfers over $10,000 (or equivalent) may trigger reporting requirements in your sending country.
How long does it take to send money to Canada?
Most transfers to Canada arrive within 1–2 business days with specialist providers. Mobile wallet and cash pickup options are often available within minutes. Bank deposits typically take 1–3 business days.
FastExpress delivery
- WiseInstant to 2 days
- RemitlyMinutes to 3-5 days
- Xoom (PayPal)Minutes to 3 days
Standard delivery
- XE1-4 business days
- CurrencyFair1-2 business days
- OFX1-3 business days
- Currencies Direct1-2 business days
- Regency FXSame day to 2 business days
USD to CAD Exchange Rate History
Daily best exchange rates from top providers over the last 6 days. Rates shown are for sending $100.
| Date | MoneyGram | Xoom (PayPal) | Wise | Wells Fargo | Bank of America |
|---|---|---|---|---|---|
| Trend | |||||
| Mar 18 | 1.3556 | 1.2225 | 1.3699✓ | 1.3261 | 1.3323 |
| Mar 17 | 1.3514 | 1.2212 | 1.3687✓ | 1.3258 | 1.3273 |
| Mar 16 | 1.3501 | 1.2201 | 1.3674✓ | 1.3246 | 1.3261 |
| Mar 15 | 1.3478 | 1.2242 | 1.3722✓ | 1.3293 | 1.3308 |
| Mar 14 | 1.3478 | 1.2242 | 1.3722✓ | 1.3293 | 1.3308 |
| Mar 13 | 1.3555 | 1.2242 | 1.3722✓ | 1.3290 | 1.3308 |
Common questions about sending money from to Canada
What is the cheapest way to send money to Canada?
Wise offers the best CAD exchange rates for most corridors. For USD-to-CAD, OFX and Wise are both very competitive. Remitly covers Canada for everyday transfers. Given CAD's high liquidity, the rate spread between providers is typically only 0.3–1.5% — compare fees as these become proportionally more important.
How long does a transfer to Canada take?
Interac e-Transfer deliveries arrive within minutes. SWIFT bank wires from specialist providers take 1–2 business days. Traditional bank SWIFT wires take 2–4 business days. Wise is usually the fastest option for bank deposit delivery, often settling same-day for transfers sent in the morning.
What bank details do I need to send money to a Canadian bank?
For Interac e-Transfer delivery, just the recipient's email or phone number. For bank-to-bank SWIFT transfers, you need the Institution Number (3 digits), Transit/Branch Number (5 digits), and Account Number (7–12 digits). SWIFT codes: RBC (ROYCCAT2), TD (TDOMCATTTOR), Scotiabank (NOSCCATT), BMO (BOFMCAM2), CIBC (CIBCCATT). Canada does not use IBAN.
Can I send money directly via Interac e-Transfer to Canada?
Yes. Wise and some other providers support Interac e-Transfer delivery for CAD transfers. The recipient receives an email or text notification and automatically deposits the funds into their linked bank account — or manually accepts through their bank's online banking if auto-deposit is not enabled. This is the fastest and most convenient delivery method in Canada.
Are there taxes on money received from abroad in Canada?
Canada has no gift tax on money received from abroad. Personal remittances and family gifts are generally not taxable income for the recipient. However, Canada Revenue Agency (CRA) may ask for documentation of large transfers. Income earned abroad by Canadian tax residents (e.g. foreign salary, rental income) must be declared on a Canadian tax return even if never remitted to Canada.
Send money to Canada from these countries
Compare providers for your specific sending country to get the most accurate rates and fees.
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