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Ali Tawfiq These Are The 5 Best Money Transfer Apps in Canada (Ranked For 2024)
Jarrod Suda
Guide
Byron Mühlberg
Reviewer
If you are located in Canada and considering sending money abroad, traditional options like banks and currency exchange kiosks can be expensive and slow. Fortunately, online money transfer apps offer a cheap and fast alternative, allowing you to send remittances from your computer or mobile device.
This guide highlights the top international money transfer apps for sending money to or from Canada. Based on real-time data from Monito's comparison engine in 2023, these apps include XE, Wise, Remitly, Instarem, and more. They offer competitive exchange rates, low fees, and fast transfer times, providing a convenient and reliable way to transfer money internationally in 2024.
Here are the best apps in Canada to send money:
- XE Money Transfer: XE Money Transfer is often the overall cheapest option to send money abroad from Canada. It's the number one app for sending money to the USA, India, the Philippines, and the UK.
- Wise: Wise is another great option for transfers to the USA, Turkey, and the UK.
- Remitly: Remitly is one of the best options to send money to India, Morocco, and Colombia.
5 Best International Money Transfer Apps in Canada
- 01. XE: Best overall for sending money from Canada
- 02. Wise: Reliable for sending to the UK or receiving from the US & India
- 03. Remitly: Best for sending to Colombia
- 04. Instarem: Best for sending to the EU and receiving from USA
- 05. WorldRemit: Best for sending to Mexico
- 06. Our top recommendations
XE: Best Overall
XE Money Transfer is a highly reputable and well-regarded platform that enables the transfer of funds to 130 countries, supporting roughly 100 currencies. XE is backed by Euronet Worldwide, which provides you with assurance that your money is secure. Most transactions are completed within one business day, making it a fast and efficient service.
According to Monito's data from the previous 12 months, XE Money Transfer is the unequivocal top choice for sending money from Canada to other countries, with the lowest fees for 22.4% of all searches conducted on Monito's comparison engine. It is the best option for sending money to the United States, India, the Philippines, Pakistan, and Poland, which are all popular corridors.
XE Money Transfer is the best choice for those sending transfers from Canada to the following countries:
- to the United States,
- to India,
- to Pakistan,
- to Poland,
- to the Philippines,
- to the United Kingdom.
More info: read our in-depth XE Money Transfer review.
Wise: Another Great Option
Wise is a dependable choice for sending money abroad, especially for smaller to medium-sized amounts. While it has increased its rates recently, it has been a cost-effective option for sending money from Canada.
Based on Monito's data collected over the past 12 months, Wise is ranked as the second-best app overall for international money transfers, offering the lowest rates for 15.8% of all searches made from Canada through our comparison engine. Additionally, it is an excellent choice for sending money to Canada from the United States and India.
Wise is competitive for the following transfers to Canada:
- from the USA,
- from India.
It is also a good choice from Canada to overseas locations:
- to the USA,
- to Turkey,
- to the UK,
- to Poland,
- to Venezuela.
More info: read our in-depth Wise review.
Remitly: Great For Cash Pick-Ups
Remitly is a leading player in the international money transfer industry, offering some of the lowest exchange rates globally. Its commitment to reliability and security has earned it a high Monito score, providing customers with a fast, secure, and satisfying money transfer experience.
Based on Monito's data from the past 12 months, Remitly was ranked as the third-best overall app for sending money from Canada. It is a great choice for sending money to Morocco or Colombia, and was the cheapest option for 13.0% of all searches for transfers from Canada conducted through our comparison engine.
Remitly is a good app when sending money from Canada:
- to India,
- to Morocco,
- to Columbia,
- to Mexico,
- to Tunisia,
- to Kenya,
- to Turkey,
- to Nigeria.
More info: read our in-depth Remitly review.
Instarem: Good Option to the EU
Instarem is a user-friendly platform and a great choice for sending money from Canada, thanks to its easy-to-navigate interface. The service is known for its fast transfers, with funds typically reaching recipients within a day.
Based on data from the past year, Monito ranks Instarem as the fourth-best overall app for sending money from Canada, offering the most cost-effective option for 12.4% of searches conducted on our comparison engine. In addition, it's the second-best option for sending money to Canada, providing cheap transfers from the United States and India.
Instarem ranks well for transfers sent from Canada:
- to the USA,
- to India,
- to Germany,
- to France,
- to the Philippines,
- to the UK.
It's also great if sending:
- from the USA,
- from India.
More info: read our in-depth Instarem review.
WorldRemit: Best For Sending to Mexico
WorldRemit is a renowned platform in the global remittance market, offering competitive exchange rates for international money transfers. It serves a wide range of countries and currencies and allows transfers using both debit and credit cards, ensuring high customer satisfaction.
According to Monito's data collected in the past 12 months, WorldRemit was the 5th best app for sending money from Canada, providing the most cost-effective option for 9.0% of all searches on Monito's comparison engine. It's the most affordable way to transfer money to Mexico.
WorldRemit is the competitive for transfers sent from Canada:
- to Mexico,
- to Ghana,
- to the Ivory Coast,
- to Cameroon.
More info: read our in-depth WorldRemit review.
Compare app fees before sending money in Canada:
Our Top Transfer App Picks in Canada For 2024
Unlike conventional banks, the money transfer and banking applications covered in this guide charge nominal fixed fees and competitive exchange rate margins, ensuring that you receive more value for your money. Moreover, we have extensively evaluated these service providers based on their transparency, quality of service, fees, and customer satisfaction, empowering you to make an informed and confident decision.
Sending Money From Canada
Here is the full list of transfer apps based on real-time data from Monito's comparison engine, of the top-rated money transfer apps that make sending money in Canada easy and cost-effective:
Sending Money to Canada
Discover the top-rated apps for sending money to Canada in 2024, as determined by Monito's real-time data from 2024:
Best Apps By Destination Country
Here are the best apps to send money from Canada to the countries that receive the most remittances from Canada, based on Monito's data from 2024:
- to the United States: XE Money Transfer
- to India: XE Money Transfer
- to Mexico: WorldRemit
- to the United Kingdom: Wise
- to the Philippines: XE Money Transfer
- to Ukraine: Skrill
- to Colombia: Remitly
- to Pakistan: XE Money Transfer
- to France: Instarem
- to Poland: XE Money Transfer
- to Turkey: Wise
- to Morocco: Remitly
Why to Avoid Your Bank
Choosing a money transfer app to send funds abroad from Canada can save you a lot of money compared your bank. That's because banks tend to charge higher fixed fees and poorer exchange rate margins than more competitive online-only services do.
Big Canadian banks are no exception. Banks like CIBC, Scotiabank, BMO and others frequently combined fees amounting to around 10% of your entire transfer value. To learn more about the true cost of sending money with your bank and why it's a good idea to avoid, take a look at our guides below:
Find The Best Money Transfer App For You
If you're sending money to a country that you're unsure is covered by one of the providers we discussed in this article, no problem! Just run a search on Monito's real-time comparison engine below and check the live results for yourself:
Compare money transfer apps in Canada to send internationally:
Eager to Compare?
Take a look at the table below to see how the best money transfer apps in Canada we reviewed in this article compare side by side:
 |  |  |  |  | |
Transfer Fee | CA$0 | CA$3.40 + 0.56% | CA$0 | C$0 | C$2.99 |
FX Margin | 1% - 3% | 0 | 0.6% - 2% | 0.5% - 1.5% | 0.5% - 2% |
Min. Transfer | No minimum | No minimum | No minimum | No minimum | Depends on receiving country |
Speed | ±1 business day | ±1 business day | ±1 business day | 2-3 business days | ±1 business day |
| Go to site | Go to site | Go to site | Go to site | Go to site |
Last updated: 11/10/2023
Our Other Guides About Money Transfers and the Best Apps in Canada to Send Money
Why Trust Monito?
You’re probably all too familiar with the often outrageous cost of sending money abroad. After facing this frustration themselves back in 2013, co-founders François, Laurent, and Pascal launched a real-time comparison engine to compare the best money transfer services across the globe. Today, Monito’s award-winning comparisons, reviews, and guides are trusted by around 8 million people each year and our recommendations are backed by millions of pricing data points and dozens of expert tests — all allowing you to make the savviest decisions with confidence.
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