How long does an international wire transfer take from Canada?

International transfer speed from Canada varies by service: Wise (1–2 business days to most countries, often same-day to US), Remitly Faster (minutes to hours to select countries), Western Union (minutes for cash pickup), Bank wire (3–5 business days, sometimes longer). For urgent transfers, Remitly or Western Union offer the fastest options. For large amounts with low fees, Wise is best even at 1–2 days.

🌍 Money Transfer · March 2026

Best International Money Transfer Canada 2026

Q: What is the cheapest way to send money internationally from Canada?

Wise (formerly TransferWise) is typically the cheapest way to send money internationally from Canada. Wise charges 0.4–1% in transparent fees and uses the real mid-market exchange rate. Sending $1,000 CAD to USD via Wise costs approximately $5–8, versus $25–40+ at a Canadian bank. For remittances to specific countries (Philippines, India, Mexico), Remitly often has promotional rates cheaper than Wise.

Q: Does Wise work in Canada?

Yes. Wise (formerly TransferWise) is fully available in Canada. Canadians can send money internationally, hold multiple currencies in a Wise account, and receive a Wise Visa debit card for spending in foreign currencies at the real exchange rate. Wise is regulated by FINTRAC in Canada (MSB licence M19762524). You can fund transfers via Interac e-transfer, bank transfer, or debit card.

Sending money internationally from Canada through your bank costs $25–50 in fees and a 2–3% hidden exchange rate markup. Wise, Remitly, and other services charge 0.5–1.5% total. On a $1,000 transfer, that's $20–40 in savings every time.

~$35

Hidden cost of a typical Canadian bank international wire on $1,000 CAD (fees + FX markup combined)

Best Money Transfer Services from Canada

Wise (formerly TransferWise)

~0.4–1% total cost

Mid-market exchange rate Transparent fee upfront 140+ countries 1–2 business days

Wise is the gold standard for international transfers from Canada. Uses the real mid-market exchange rate (no hidden markup) and charges a small transparent fee (typically 0.4–1%). Sending $1,000 CAD to USD: ~$5–8 total fee. Sending $1,000 to INR (India): ~$7–10. Supports Interac e-transfer, debit, or bank funding. Regulated by FINTRAC in Canada. Wise account lets you hold 40+ currencies. Wise Visa debit card available. Best for: most international transfers, especially US, UK, Europe, India, Philippines, and Australia.

Remitly

0–2% depending on speed

Minutes for "Express" delivery Promo rates for first transfer Bank deposit or cash pickup Locks in rate on send

Remitly specializes in remittance corridors (Philippines, India, Mexico, Pakistan, Bangladesh, Nigeria). Offers two tiers: "Express" (minutes, slightly higher fee) and "Economy" (3–5 days, lowest fee). First transfer to many countries often has promotional rates close to 0%. Strong mobile app. Good delivery options including cash pickup, mobile wallet, and bank deposit. Best for: regular remittances to family abroad, especially in South/Southeast Asia and Latin America.

Western Union

$5–15 flat + FX spread

Minutes cash pickup 200+ countries Higher FX markup No bank account needed (receiver)

Western Union has the widest global cash pickup network — useful when sending to recipients without a bank account. Available in 200+ countries and territories. Transfer fees of $5–15 flat depending on amount and country, but exchange rate markup is 2–3% above mid-market — making total cost higher than Wise for bank-to-bank. Best when the recipient needs cash in hand, especially in rural areas or countries with limited banking access.

PayPal / Xoom

2.5–4% total cost

Instant to PayPal users High FX markup Xoom for bank delivery Familiar/easy to use

PayPal's international transfers carry a 3–4% FX markup — significantly more expensive than Wise. Xoom (PayPal's dedicated remittance service) is slightly cheaper than PayPal but still more expensive than Wise for most corridors. Convenience factor is high — most recipients have PayPal. Best for: quick transfers where convenience matters more than cost, or when recipient already uses PayPal. Not recommended for large or regular transfers.

Canadian Bank Wire (RBC/TD/Scotiabank)

$25–50 fee + 2–3% FX markup

$25–50 outgoing wire fee 2–3% FX spread 3–5 business days SWIFT network

Traditional bank international wires are the most expensive option for most transfers. Scotiabank charges $25 for CAD and up to $40 for foreign currency wires. Plus, the exchange rate offered is typically 2–3% worse than the mid-market rate. Total cost on a $1,000 transfer can reach $45–70. Banks are CDIC insured and best for very large transfers ($50,000+) where compliance and traceability matter more than fees. Not recommended for routine international transfers.

Transfer Cost Comparison Calculator

How much does it cost to send money from Canada?

Amount to send (CAD)

Destination

Wise (total cost)

$10

Remitly (economy)

$45

Bank wire (est.)

Transfer Cost Comparison Table

Service	Fee on $1,000 CAD	FX Rate	Speed	Best For
Wise	~$5–8	Mid-market	1–2 days	Most transfers
Remitly Economy	~$3–10	Near mid-market	3–5 days	Remittances
Remitly Express	~$10–20	Near mid-market	Minutes	Urgent
Western Union	$5–15 + 2–3% FX	Below market	Minutes (cash)	No-bank recipients
PayPal	~$25–40	3–4% below market	Minutes–hours	Convenience only
Canadian Bank Wire	$25–50 + 2–3% FX	Below market	3–5 days	Large compliant transfers

Frequently Asked Questions

What is the cheapest way to send money internationally from Canada?

Wise is typically the cheapest. They use the real mid-market exchange rate and charge a transparent 0.4–1% fee. On a $1,000 CAD transfer, Wise costs $5–8 total versus $45+ at a bank. For specific corridors (Philippines, India, Mexico), Remitly often matches or beats Wise with promotional rates.

How long does an international transfer take from Canada?

Wise: 1–2 business days to most countries (often same-day to US). Remitly Express: minutes to hours. Remitly Economy: 3–5 days. Western Union cash pickup: minutes. Bank wire (SWIFT): 3–5 business days, sometimes longer depending on correspondent banks and country.

Does Wise work in Canada?

Yes. Wise is fully available in Canada, regulated by FINTRAC (MSB M19762524). Canadians can send, receive, and hold multiple currencies. Wise can be funded via Interac e-transfer, debit card, or bank transfer. A Wise Visa debit card is available for spending in foreign currencies at the real exchange rate — great for travel.

Is there a limit on international transfers from Canada?

FINTRAC requires reporting of international electronic funds transfers of $100 CAD or more by financial service providers. This is automatic reporting — not a restriction. There's no legal limit on how much you can transfer internationally. However, individual services set their own limits: Wise allows up to $1.5M CAD per transfer for verified accounts. Banks may require additional documentation for large transfers.

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Disclosure: Bremo earns referral commissions on KOHO signups. Transfer fees and exchange rates change frequently — verify on each platform before sending. Information as of March 2026.