If you’re looking to learn how to transfer money from Canada to US, then there are a few options.
What is your goal? Do you want the cheapest option or do you need it transferred quickly?
These factors will help determine which way would be best for you. If time, cost, transfer rates or amount to be transferred is an issue, this article will help clarify things by explaining the different transfer systems and how they work.
- In a Hurry? Reader’s Favourites for Sending Money from Canada to the US ↓
- The Best Money Transfer Companies to Send Money from Canada to the USA
- The Cheapest Ways to Send Money from Canada to the USA
- In-Depth Review of the Best Options to Transfer Money from Canada to the US
- ➤ How to Transfer Money from Canada to the US with Wise (formerly: TransferWise)
- ➤ How to Transfer Money from Canada to the US with XE
- ➤ Transfer Money from Canada to the US with WorldRemit
- ➤ Transfer Money from Canada to the US with OFX
- ➤ Transfer Money from Canada to the US with Western Union
- ➤ Transfer Money from Canada to the US with Interchange Financial
- ➤ Transfer Money from Canada to the US with Interac
- ➤ Transfer Money from Canada to the US with RBC
- FAQs on How to Transfer Money from Canada to US
- Final Words: How to Transfer Money from Canada to the US
There are several options available to transfer money from Canada to the United States, however, the best option for you will depend on a blend of the factors stated above.
Overall, digital money transfer companies and applications end up costing you less than the traditional wire transfer provided by your local bank.
If you will be sending money multiple times, below are some of the best options available.
In a Hurry? Reader’s Favourites for Sending Money from Canada to the US ↓
The Best Money Transfer Companies to Send Money from Canada to the USA
✔ Best for exchange rates, ex-pats or family/friends transfers → Wise
✔ Better rates for larger transfers → OFX and XE
✔ Best money transfer service for small remittances → WorldRemit
✔ Best money transfer service for quick transfers → Wise and WorldRemit
The Cheapest Ways to Send Money from Canada to the USA
In-Depth Review of the Best Options to Transfer Money from Canada to the US
➤ How to Transfer Money from Canada to the US with Wise (formerly: TransferWise)
For transfers to family or for ex-pats abroad, Wise (formerly TransferWise) offers some pretty cheap rates.
Wise is “the only company offering low fees with market-leading international service” which allows them access to better wholesale currency prices than other competitors like Western Union and WorldRemit do not have access to when negotiating between currencies through their digital banking app.
Their transparent and easy transfer fees make this a good account for people who stay in the USA but receive money from overseas.
How Much Does It Cost to Transfer Funds to the USA?
Transfer Fee: 1.91 CAD + 0.72% of the transaction amount.
Wise uses a rate that is the best possible available, and there is no margin added to their exchange rates.
Additional Bank Costs: ACH transfers are the cheapest; followed by wire transfers, credit cards, and debit cards.
How to Transfer Money with Wise
- Create an account, log in, and set up your first transfer.
- Tap in how much you’d like to send and where the funds should be deposited. Enter your loved one’s details.
- Make Wise payments in the US with a bank transfer or debit or credit card.
Your recipient will get the money in US dollars (USD) directly from Wise’s local bank account in 0 – 1 day.
Is Wise Transfer Safe?
Yes, the Wise money transfer service is safe.
- Quick online set-up
- Very fast transfers to a bank account
- Transparent fees and provide the best rates online
- Simple cell phone app
➤ How to Transfer Money from Canada to the US with XE
XE is one of the largest foreign currency transfer services. They allow you to check any international money exchange rates and have strong customer support over the phone, which makes it an advantageous option when transferring large amounts of money overseas.
Importantly, XE pays a better rate for large transfers.
How Much Does It Cost to Send Funds to the USA?
Transfer fee: a minimum transfer size is not required.
Exchange Rate: The rate of exchange you receive depends on the amount.
How to Transfer Money with XE?
- To set up, sign up online or by phone.
- Input how much you need to withdraw, the country and the currency.
- XE will transfer funds directly to your recipient’s bank account.
Give 1-4 business days for international money transfers.
Is XE Safe?
Yes, XE is safe. They are accredited by the DFS in New York and registered with FINTRAC.
- Well known and trusted name, scores 4.7/5 from Trustpilot
- Fee-free transfers and minimum cost for international money transfers
- Rate alert set up available
For help from XE and mobile number: US: 1-877-932-6640
➤ Transfer Money from Canada to the US with WorldRemit
If you’re looking for an affordable and convenient way to send small amounts of cash overseas, WorldRemit is a great option.
They offer the most competitive exchange rates on the market and more flexible delivery options than PayPal, Western Union or MoneyGram. If your intended recipient lives in the USA, WorldRemit is perfect because they specialize in smaller remittances with lower minimums.
How Much Does It Cost to Transfer Funds from Canada to the USA?
Transfer Fee: CAD 3.99 per transaction fee.
Exchange Rates: WorldRemit applies a margin to currency exchange rates. Click here for an indicative rate to transfer money from Canada to the U.S., for example
Maximum transfer amount: CAD 40,000
How to Transfer Money with WorldRemit?
- Create an account online and log in.
- Tap to enter details on how much money you want to transfer and what method of payment you would like to use (bank deposit or top-up).
- Enter your recipient’s details.
- With WorldRemit you can make local payments anywhere in the world using your bank account, debit card, or credit card.
There are multiple ways to transfer money, and the delivery time also varies. A wire transfer may take 3 business days to produce US dollars.
Is WorldRemit safe?
Yes, WorldRemit is safe
- Offers bank deposits and Airtime top-up
- Transparent costs with an accurate calculator tool
- Easy online platform and cell phone app
- 24/7 customer support
FAQs: WorldRemit FAQs
Sign up for a WorldRemit account using >> this unique link << and receive a voucher for $30 CAD
➤ Transfer Money from Canada to the US with OFX
OFX, formerly known as Ozforex, is a good choice for sending money online. They’re available in almost every country and recently stopped charging the flat transfer fee to customers from America.
If you are sending over $25,000 CAD to the US, OFX is a great broker for transfers from Canada and can often be more competitive than other brokers for larger amounts of currency.
How much does it cost to transfer funds to the USA?
Transfer Fee: OFX does not charge a transfer fee for transfers from the USA. If you’re sending money outside of North America, there may be an additional flat rate depending on the amount sent.
Exchange Rate: OFX adds their own margin to exchange rates found online which means your effective market value will differ from what is advertised by other currency converters.
Minimum Transfer Amount: There are no restrictions for anyone wanting to send less than $150 or more that doesn’t fall into any category mentioned above (for example, recurring payments).
Input-Transfer Fee/Exchange Rates
Output-No fees charged if transferring domestically and up to $250 per transaction internationally
How to transfer money with OFX
- To get a quote on transfers, you have to create an account and log in.
- Enter your recipient’s bank account information, including the name on the account, bank routing code (ABA/ACH) and account number.
- Finalizing the transaction and paying on a bank or wire transfer.
The receiver will receive the funds in US dollars into your account within a day.
Is OFX safe?
OFX is committed to the safety of not only their customers but also that of their employees. Read more to see how they are fully insured and constantly train for any potential threats in order to protect everyone from harm’s way at all times.
- 24/7 phone support
- Easy online set-up
- Service details
- Great exchange rates and lock-in rate for large transfers
➤ Transfer Money from Canada to the US with Western Union
With so many ways to transfer, Western Union will make transferring money to the US from Canada fast, easy and reliable.
How to Transfer Money from Canada to the US with Western Union
1. Send Money Online: Sign up online for a Western Union account, if you do not already have one, and start sending money instantly from Canada to a US bank account.
2. Send with the Western Union app: You can send money on the go or start a transfer and pay later in person at a Western Union agent location.
3. Send with Western Union in person: Transfer money from Canada to the US in person at more than 2,500 Western Union agent locations across Canada.
Features of Western Union Money Transfer
- It Is Easy and Convenient: Send money the way that is convenient for you: online, through the Western Union app, or in person from an agent location.
- Guaranteed Security: The Western Union encryption and fraud prevention features help to ensure that your transfers are secure.
- They’re International: They transfer money from Canada to over 200 countries.
- Get Rewarded for transfers: Gain points anytime you send money online, via our app or in person and get exclusive offers only for members.
- Quick and Easy Sign Up: It’s simple to sign up and begin using our money transfer services.
- Track Your Transfer: Easily trace your transfer online and with the Western Union app.
- Pay the Way You Like: Pay online with your bank account, credit/Visa debit card or cash in person at an agent location.
- Convenient Locations: Transfer money for cash pickup at an agent location close to your receiver.
➤ Transfer Money from Canada to the US with Interchange Financial
Do you know how best to send money to the USA from Canada? This service is designed and tailored specifically to Canadians sending money into the US. The service offers much better rates than banks often charge, with no hidden fees whatsoever.
How to Transfer Money from Canada to the United States with Interchange
Check out their rates
Use their currency converter to make sure you are getting the best rates for transferring money from Canada to the US. They guarantee that these rates will be better than any offered by a bank and will save you money in fees – there is no cost when transferring funds into an account in the United States.
Book a transfer online or on the phone
Once you sign up for their service, you will be able to transfer money online between accounts without being charged any fees. You can also call them at 1-888-972-7799 and we’ll take care of the rest.
They will handle the rest. There are no fees associated with the transfers, and the recipient in the United States will automatically receive payment from your bank account via integration into the Canadian payment system.
Benefits of Sending Money to the USA with Interchange Financial
1. No Transfer Fees
Interchange does not charge any fees for sending money from Canada to the US. In addition, once you’ve booked a rate, you’ll know precisely how much it will end up costing you in Canadian dollars and how much your recipient in the United States will receive in US dollars.
2. Best Exchange Rates
When you’re making an international wire transfer to the US, interchange financial claims to provide the best exchange rate possible at any time. Their “Best Exchange Rate Guarantee” ensures that you are always getting the best foreign exchange rate for your transfer from Canada to the US.
The services offer you the convenience of staying at home and getting your money transferred to the US. You can use their website to send money from Canada or any other country in the world. You can also transfer funds by telephone, email, or visit one of our offices.
4. Easy Sign Up
Creating an account to use their service is fast and easy. Just fill out an online form that takes two minutes or less, you’ll never be charged a dime even if you don’t use the service at all.
Interchange Financial is the largest independent currency exchange company in Canada. Rest assured that your personal information is safeguarded. They are Canadian-owned and licensed by the Canadian government as specialists in this area.
Who Uses Interchange Financial to Transfer Money from Canada to the US?
Individuals and businesses may use the services of Interchange Financial to send money from Canada to the US.
- Individuals who have made large acquisitions of homes or businesses (maximum of $3,000,000 USD)
- Individuals making purchases in the US. These are often purchases done online.
- Individuals who are moving to the US
- Individuals who are sending money to the US for investment purposes
- Companies making supplier payments in the US
- Companies making payments in the US
- Companies buying goods and services in the US
- Companies making investments in the US
➤ Transfer Money from Canada to the US with Interac
You can transfer money from your Canadian bank account to the United States of America through Interac’s partnership with Western Union Mastercard.
This means that it is possible to use Interac’s e-Transfer service to send money from your bank account in Canada to the US or internationally. This is the same Interac e-Transfer service that you use within Canada to transfer money, with the only difference being that this is international.
Interac is one of the most reliable financial service brands in Canada, thanks to:
- Their uniquely Canadian history.
- Efficiency, security and reliability are the three attributes on which they pride themselves.
One limitation is that there is currently only one participating financial institution – National Bank.
How to Transfer Money from Canada to the USA with Western Union through Interac
To transfer money from Canada to the United States by Interac e-Transfer, you require:
- A bank account with National Bank
- A working mobile phone number or email address
The Steps to send money from Canada to the USA with Interac:
- Login to your banking app or online, and choose the account.
- Select “Send Money”, and “International” and then enter the recipient’s country and banking information.
- Your transfer will be processed and funds are transferred directly to your recipient’s bank account.
- The system will send an email notification to you to confirm that the money has been sent.
➤ Transfer Money from Canada to the US with RBC
We figured it will be a good idea to include one of Canada’s big banks on this list, just in case you are looking at using your regular bank account to transfer money from Canada to the US.
Now you can easily send money to the U.S. from Canada, without even leaving your home! The RBC (Royal Bank of Canada) Online International Money Transfer service is a cost-effective and convenient way to send money internationally, including to more than 120 other countries around the world.
Their low flat fee of $13.503 means you can send up to $2,500 Canadian dollars per day from the comfort of your home or office at any time!
Plus, RBC’s online banking service makes transferring money:
- Convenient. 24/7 online access – you don’t need to go to the branch!
- Fast. Complete your transaction in just a few simple steps through RBC Online Banking
- Easy. Screen prompts take you through every step
- Secure. RBC Online Banking Security Guarantee stands behind every transfer
FAQs on How to Transfer Money from Canada to US
How Can I Send Money from Canada to the USA?
It is fastest to send money from Canada to the US by using Skrill, and quickest with a credit or debit card. If you use a Canadian bank, then it’s cheaper than Paypal and Scotiabank
Can You Transfer Money from a Canadian Bank to a US Bank?
Now you can easily send money to the U.S. from Canada, without even leaving your home! The RBC Online International Money Transfer service is a cost-effective and convenient way to send money internationally, including to more than 120 other countries around the world.
Can You Send Money from Canada to the US through PayPal?
Yes, PayPal is a useful tool for transferring money internationally. You should be aware of the fees and charges you’ll encounter with the use of Paypal.
How Long Does It Take to Transfer Money from Canada to the US?
In general, it takes 3-4 days to transfer money from Canada to the US: 2 days for your bank in Canada to send funds (via wire transfer or Bill Pay) and 1-2 more days for the currency conversion processing when we convert Canadian dollars into US dollars. Finally, the funds are sent across the border and deposited into your account via SWIFT code.
Can You Send Money through PayPal Internationally?
Can PayPal be Used for International transfers? The short answer is yes! PayPal is available in more than 200 different countries, giving companies the option to perform cross-border payments and transfers via the website or app at PayPal.com.
How Do I Transfer Money from a US Bank Account to a Canadian Bank Account?
The process is instant. Use your US bank account, debit or credit card to pay for the transfer and enter the recipient’s account details. Then click send and voilà, you have transferred the money.
Final Words: How to Transfer Money from Canada to the US
There are many ways to transfer money from Canada into the US, but not all of them will work for you. It depends on a variety of factors such as how much money is being transferred and what your needs are in terms of timing or fees.
The best option can depend on so many things that it’s hard to give one clear answer- which might be why we get this question asked so often! Whether you need an international wire transfer service with low rates, want peace of mind knowing your payment is secure, or just want something quick and easy, there’s likely a solution out there for you.
We hope our blog post has helped shed some light on this subject matter; best of luck!