FAQ About Sending Money to Canada

• What's the cheapest way to send money to Canada?

  The cheapest way to send money to Canada is through an online provider. Among the 60 available, Wise was most often the cheapest provider (in 18.9% of the searches on Monito.com in the past 3 months).

• How much does it cost to send money to Canada?

  If you send money with the cheapest available provider, the total cost of a transfer to CAD was 0.6% of the transfer amount (including all fees and exchange rates) over the past month. Of course, this figure will vary based on the sending country, the pay-in and pay-out options

  In contrast, the cost of the most expensive option was 8.5% on average.

• What is the cost of making an international transfer to Canada using my bank?

  The average total cost (including hidden exchange rate markups) of making a transfer to Canada with banks compared by Monito.com during the past months was 9.0% of the transfer amount. This is 16.3x more expensive than sending money with the cheapest online provider alternative.

• Is Western Union good for sending money to Canada?

  Western Union is a popular provider with the biggest agent location network. The average cost of online money transfers to Canada with Western Union* is 2.2% of the amount you send, whereas the cheapest online services have an average cost of 0.6%. Remitly is the provider that is most often the cheapest for money transfers to a cash pick-up location in Canada.
  
  *Sending money from physical agent locations with Western Union is usually much more expensive than using their online service.

• What's the cheapest cash pick-up provider in Canada?

  Over the past three months, the provider that was most often the cheapest for cash pick-up transfers in Canada was Remitly, with an average cost of 0.7% of the amount you send (which includes fees and exchange rate margins).
  
  The average total cost to send to a bank account rather than a pick-up location during the same period was 0.6%. Wise was the provider most often the cheapest for transfers to bank accounts in Canada.

• What is the fastest option to send money to Canada?

  The provider that was most often the fastest on Monito's comparisons over the last three3 months was Remitout (average fastest transfer time: Next day)