You have a few options if you’re wondering how to send money from Canada to the United States.
What’s the goal? Do you want the cheapest option, or do you need it transferred immediately?
These factors will help you decide which strategy is best for you. By describing the various transfer systems and how they work, this article will help clarify whether time, cost, transfer rates, or the amount to be transferred are concerns.
There are several methods for sending money from Canada to the United States. However, the best decision for you will be determined by combining the aforementioned factors.
In the long run, digital money transfer services and software are less expensive than traditional bank wire transfers.
Some of the best options for sending money are listed below.
Table of contents
- How to Send and Receive Money From Canada To USA | Full Guide
- #1 Send and Receive Money from Canada to USA with Wise
- #2 Send and Receive Money from Canada to USA with WorldRemit
- #3 Send and Receive Money from Canada to USA with XE Money
- #4 Send and Receive Money from Canada to USA with OFX Money Transfer
- #5 Send and Receive Money from Canada to USA with Western Union
- #6 How to Send Money from Canada to the United States Using Interchange Financial
- #7 How to Send Money from Canada to the United States Using Interac eTransfer
- #8 How to Send Money from Canada to the United States with Western Union through Interac
- #9 Send and Receive Money from Canada to USA with RBC International Money Transfer
- How to Send and Receive Money from Canada to the United States Frequently Asked Questions
- In conclusion
- References
How to Send and Receive Money From Canada To USA | Full Guide
#1 Send and Receive Money from Canada to USA with Wise
Wise (formerly TransferWise) offers reasonable rates for transfers to relatives or expats living abroad.
Wise has access to better wholesale currency prices when negotiating between currencies through their digital banking app than other competitors like Western Union and WorldRemit. They are the only company offering low fees with market-leading international service.
Due to its simple and transparent transfer fees, this account is a good option for people who live in the USA but receive money from abroad.
What Is the Price of Sending Money to the United States?
1.91 CAD plus 0.72% of the transaction value is the transfer fee.
Real-world Exchange Rate: Wise uses the best available exchange rate; no margin is added.
Additional bank charges: Wire transfers, credit cards, and debit cards are the next most expensive payment methods after ACH transfers.
How to Move Money Wisely
- Make a new account, log in, and initiate your first transfer.
- Tap the desired amount and the location where the funds should be deposited. Include information about your loved one.
- Use your debit or credit card or a bank transfer to make informed purchases in the United States.
Transfer Times
Your recipient will get the money in US dollars (USD) in 0-1 day directly from Wise’s local bank account.
Wise Transfer: Is it reliable?
It is safe to use the Wise money transfer service.
The best features are simple online setup, quick bank account transfers, open pricing, and simple mobile apps.
#2 Send and Receive Money from Canada to USA with WorldRemit
WorldRemit allows Canadians to send money to Americans.
WorldRemit is a great option if you’re looking for an inexpensive and convenient way to send small amounts of money abroad.
They offer the market’s most aggressive exchange rates and more flexible delivery options than PayPal, Western Union, or MoneyGram. Because they specialize in sending smaller remittances with lower minimums, WorldRemit is the best option if your intended recipient lives in the USA.
What Costs Amount to Money Transfers from Canada to the United States?
Transfer Fee A transaction fee of $3.99 CAD.
WorldRemit inflates exchange rates Currency exchange rates.
Transfers of up to 40,000 CAD are permitted.
How does the WorldRemit money transfer service work?
- Create and log into an online account.
- Tap to specify the desired transfer amount and payment method (bank deposit or top-up).
- Enter the recipient’s information.
- You can use WorldRemit to send money locally in any country by using your bank account, debit card, or credit card.
Transfer Time
The methods for transferring money, as well as the processing time, vary. A wire transfer may take three business days to produce US dollars.
Features
Provides bank deposits and Airtime top-up; has transparent pricing and a helpful calculator; is simple to use on both the web and mobile devices; and provides 24-hour customer service.
#3 Send and Receive Money from Canada to USA with XE Money
XE is one of the most well-known currency exchange services.
It is beneficial to use them when sending large sums of money abroad because you can look up any foreign exchange rates, and they have excellent phone customer service.
The key point is that XE offers better rates for large transfers.
What Is the Cost of Sending Money to the United States?
The transfer fee has no minimum transfer size requirement.
Exchange Rate: The rate you receive will vary depending on the amount.
How Do XE Money Transfers Work?
- To register, create an account online or over the phone.
- Immediately request a money transfer quote by entering the amount, destination country, and currency.
- Your recipient will receive a direct bank account transfer from XE.
XE vs. Major Canadian Banks
If you convert $20,000 CAD to USD, the comparison table shows how much your recipient will receive.
| Money Transfer Service | Your Recipient Receives |
| BMO International Money Transfer | $15,734.40 USD |
| XE Money Transfer | $15,418.00 USD |
| RBC International Money Transfer | $15,342.13 USD |
| TD International Money Transfer | $15,250.88 USD |
| CIBC International Money Transfer | $14,964.00 USD |
Source: XE.com 2022
The transfer window for international money transfers is one to four business days.
Yes, XE is secure. They are DFS-accredited and FINTRAC-registered in New York.
The standout features are a well-known and trustworthy brand with a 4.7/5 Trustpilot rating, fee-free transfers, the lowest cost for international money transfers, and the ability to set up rate alerts.
Service Specifics To reach XE support in the United States, dial 1-877-932-6640.
See also: What Is A Trust In Business? | Full Explanations
#4 Send and Receive Money from Canada to USA with OFX Money Transfer
OFX, formerly Ozforex, is an excellent choice for online money transfers. They no longer charge a flat transfer fee to American customers and are available in almost every country.
OFX is more affordable than other brokers for larger amounts of currency if you send more than $25,000 CAD to the US.
How much does it cost to send money to the United States?
Charge for transfer For transfers coming from the USA, OFX does not charge a transfer fee. Depending on the amount, there may be an additional flat rate if you send money outside of North America.
Rate of Change: You’ll receive a different market value than other currency converters advertise because OFX adds its margin to online exchange rates.
Transferable minimum: There are no restrictions for anyone sending less than $150 who does not fall into one of the categories above (for example, recurring payments).
Exchange rates for input-transfer fees
Transfers within the country are free, but there are up to $250 in transaction fees for international transfers.
How to use OFX to send money
- To obtain a transfer quote, you must first create an account and log in.
- Enter the recipient’s bank account information, including the name on the account, the bank routing code (ABA/ACH), and the account number.
- Completing the transaction and paying for it via bank or wire transfer.
Transfer time
The recipient will receive the funds in US dollars in their account within a day.
OFX security
OFX is committed to ensuring the safety of its employees and customers. They have complete insurance coverage and ongoing threat preparation to keep everyone safe.
Among the best features are excellent exchange rates and lock-in rates for large transfers; round-the-clock phone support; simple online setup; and service information.
#5 Send and Receive Money from Canada to USA with Western Union
With so many options, Western Union will make sending money from Canada to the United States quick, easy, and dependable.
How to Send Money from Canada to the United States Using Western Union
- Send Money Online: If you don’t already have a Western Union account, open one online and send money from Canada to a US bank account immediately.
- Send money using the Western Union app: You can start a transfer while on the go or wait until you arrive at a Western Union agent location.
- Send money personally through Western Union: At more than 2,500 Western Union agent locations across Canada, you can personally send money from Canada to the US.
Features of Western Union Money Transfer
- It is straightforward and practical.
- Guaranteed security of your transfers.
- They are international; they send money from Canada to over 200 countries.
- Earn transfer points whenever you send money online, via the app, or in person. Members can also take advantage of exclusive deals.
- Quick and Easy Sign-Up
- Track Your Transfer: The Western Union app and online tools simplify tracking your transfer.
- Pay the Way You Want: Pay in person at a local agent location with cash or online with your bank account, credit card, or Visa debit card.
- Convenient Locations: Send money to a nearby agent location for cash pickup.
#6 How to Send Money from Canada to the United States Using Interchange Financial
There are no hidden fees at all, and Interchange Financial frequently offers rates much lower than banks. They are designed specifically for Canadians who want to send money from Canada to the United States.
How to Send Money from Canada to the United States Using Interchange
Take a look at their prices.
Use their currency converter to ensure you get the best rates for money transfers from Canada to the United States USA.
There are no fees associated with transferring money into a US account, and they guarantee that the rates will be better than those provided by a bank.
See also: How To Use Facebook Pay | How To Receive Facebook Money
Arrange a transfer online or by phone.
The term “electronic commerce” refers to the sale of goods and services over the internet. You can reach them at 1-888-972-7799, and they’ll take care of the rest.
Who uses Interchange Financial to send money from Canada to the United States?
Individuals and businesses can use Interchange Financial’s services to send money from Canada to the United States.
Individuals
- Individuals who have spent up to $3,000,000 USD on significant real estate or business purchases
- People who shop in the United States. These purchases are frequently made online.
- Individuals relocating to the United States;
- Individuals sending funds to the United States for investment purposes
Businesses/companies include those that pay their suppliers in the United States, pay their employees in the United States, buy goods and services in the United States, and invest in the United States.
#7 How to Send Money from Canada to the United States Using Interac eTransfer
Using Interac’s partnership with Western Union Mastercard, you can transfer money from your Canadian bank account to an American bank account.
You can send money from your Canadian bank account to the US or abroad using Interac’s e-Transfer service. The only difference is that this is a global version of the Interac e-Transfer service, which is used to send money within Canada.
Due to its uniquely Canadian history and pride in efficiency, security, and reliability, Interac is one of Canada’s most trustworthy financial service brands.
One drawback is that only one financial institution, the National Bank of Canada, is currently a participant.
#8 How to Send Money from Canada to the United States with Western Union through Interac
You need the following to send money via Interac e-Transfer from Canada to the United States:
- A working email address or phone number
- An account with National bank
How to Send Money Using Interac:
- Open your banking website or app and select the account.
- Select “International” and “Send Money,” then enter the recipient’s country and banking information.
- The funds from your transfer will be processed and sent straight to your recipient’s bank account.
- The system will send you an email notification to let you know that the money has been sent.
See also: Anonymous Paypal: How To Receive Money Anonymously | Full Guide
#9 Send and Receive Money from Canada to USA with RBC International Money Transfer
We decided to include one of Canada’s major banks on this list if you wanted to transfer money from Canada to the United States using your regular bank account.
It is now simple to send money from Canada to the United States without ever leaving your home! With the RBC (Royal Bank of Canada) Online International Money Transfer service, sending money abroad is simple and affordable, including to the United States and more than 120 other countries.
You can transfer up to 2,500 Canadian dollars daily for a flat fee of $13.50. $33 will be charged by Western Union for this transaction.
Furthermore, RBC’s online banking platform makes transferring funds from Canada to the United States simple. It is:
- Safe – The RBC Online Banking Security Guarantee protects transfers.
- Simple – For each step, you follow the instructions on the screen.
- Convenient – no need to visit a branch with 24/7 online access!
- Quick – With RBC Online Banking, you can finish your transaction in just a few easy steps.
How to Send and Receive Money from Canada to the United States Frequently Asked Questions
Skrill is the quickest way to send money from Canada to the United States, but a credit or debit card will also work. It is less expensive to use a Canadian bank than Paypal and Scotiabank.
It is now simple to send money from Canada to the United States without ever leaving your home! With the RBC Online International Money Transfer service, sending money internationally, including to over 120 other countries, is both affordable and practical.
Yes, PayPal is a useful tool for sending money overseas. You should be aware of the fees and costs associated with using Paypal.
Transferring money from Canada to the United States typically takes 3-4 days: 2 days for your Canadian bank to send the money (via wire transfer or Bill Pay), plus 1-2 days for currency conversion processing when they convert Canadian dollars to US dollars.
Finally, the funds are transferred across the border and deposited into your account using a SWIFT code.
It happens in an instant. Enter the recipient’s account information and pay for the transfer using a US bank account, debit card, or credit card. The money has been transferred once you have sent the message.
In conclusion
There are several ways to send and receive money from Canada to the United States, but not all of them will be effective for you. It is determined by several factors, including the amount of money being transferred, your timing, and fee requirements.
Whether you need a low-cost international wire transfer service, want assurance that your payment is secure, or want something quick and simple, there is probably a solution for you.
TransferWise is recommended for most international money transfers due to its transparent pricing structure, more favorable exchange rate, low fees, and support for over 50 currencies.
References
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