Find the best ways to send money to the USA from Canada

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Compare 12 providers for a 5,000 CAD transfer from Canada to the USA

Results updated 4 days ago.

For the most up-to-date and accurate results, start a new search

  • Sponsored
    WorldRemit
    7.8
    Over 4 million users
    Zero fees on your first 3 transfers with code 3FREE
    1 to 3 days

    Recipient gets

    • Pay by: Direct bank payment

      3,741 USD

      3,738 USD

Compare 8 providers

Sorted by amount received

  • Best deal
    Wise
    9.5
    3 to 5 days

    Recipient gets

    • Pay by: Bank transfer

      3,862 USD


    2 to 4 days

    Recipient gets

    • Pay by: Direct bank payment

      3,855 USD

  • XE Money Transfer
    7.8
    Popular with Monito users
    Preferential exchange rate for new customers
    Next day

    Recipient gets

    • Pay by: Bank transfer

      3,853 USD

      3,850 USD

  • CurrencyFair
    8.6
    3 to 4 days

    Recipient gets

    • Pay by: International bank transfer

      3,843 USD

      Estimated

  • Royal Bank of Canada
    ?
    3 to 5 days

    Recipient gets

    • Pay by: Bank transfer

      3,772 USD

      Estimated

  • Scotiabank
    ?
    Not recommended Consistently poor exchange rates, high fees and low customer satisfaction.
    3 to 5 days

    Recipient gets

    • Pay by: Bank transfer

      3,768 USD

      Estimated

    Details
  • PayPal
    5.4
    Not recommended Consistently poor exchange rates, high fees and low customer satisfaction.
    Next day

    Recipient gets

    • Pay by: Bank transfer, PayPal

      3,761 USD

    Details
  • WorldRemit
    7.8
    Over 4 million users
    Zero fees on your first 3 transfers with code 3FREE
    1 to 3 days

    Recipient gets

    • Pay by: Direct bank payment

      3,741 USD

      3,738 USD

  • Skrill
    8.4
    30 CAD off your first transfer
    Next day

    Recipient gets

    • Pay by: Debit card

      3,739 USD

    • Pay by: Credit card

      3,720 USD

We source transfer fees, rates and other data from money transfer providers in different ways - in most cases in real time. We constantly monitor the quality of our comparison data, but we cannot guarantee its accuracy.

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How to send money from Canada to the USA at the best rate?

Our comparison engine found 12 options available for sending money from Canada to the USA.

To transfer Canadian dollars to a bank account in US dollars in the USA, the most competitive provider at the moment is Wise, with 31.25 CAD for the transfer fees and a competitive CAD-USD exchange rate (their current rate is 1 CAD = 0.7773 USD).

Adding the fees and exchange rate margin, the total cost with Wise is 33.16 CAD, but you would pay a total cost of 192.26 CAD (around 6x as much) if you selected to use Skrill for the very same transfer.

For this transfer to the USA, you can also have a look at two other competitive providers: XE Money Transfer and CurrencyFair.

This recommendation was updated a few minutes ago.

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Monito's Recommendations for Sending Money from Canada to the USA

Today's cheapest money transfer service might not be the cheapest tomorrow. Find the one that's best suited to your needs and preference by comparing the best performers on Monito's comparison engine over the past 30 days for transfers from Canada to the USA:

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Best Ways to Send Money from Canada to the USA

How To Send Money From Canada to the US

If you want to send money from Canada to the US, you'll have two broad options to choose from. One will go through your bank (which we don't recommend because of the high fees). Another option will be to use an international money transfer service. Either option can involve a wire transfer or an Interac e-Transfer from Canada to the US, with the main difference being the cost. We explore them both below:

1 — How to Transfer Money From Canada to a US Bank Account

Using an online international money transfer service is the fastest and cheapest way to transfer money from Canada to the US. Several top online transfer platforms offer CAD to USD transfers, including:

In general, money transfer services are the best way to send money abroad because they're the cheapest and usually the fastest and easiest to use options out there. Find out more about money transfer services here.

2 — Bank Transfers From Canada to the US

Using your bank — whether it be CIBC, RBC, Scotiabank, TD Bank, or any other — is a reliable option for sending money from your bank account to a bank account in the US. However, it's costly, and transfers usually take a long time to arrive (between two and five business days). This is because bank transfers go over SWIFT, which involves many steps.

It's sometimes also possible to send an Interac e-Transfer from Canada to the US via Mastercard or Western Union, but not all Canadian banks offer this service.

Sending money from Canada to the US with Scotiabank, for example, can be around 10% more expensive than making the same transfer with a top money transfer service online. For this reason, we generally don't recommend banks to get the job done. Learn more about why online platforms are better than banks for international transfers.

Cheapest Ways to Transfer Money From Canada to the US

  1. Instarem with 1.54% total fees
  2. Wise with 1.96% total fees
  3. MoneyGram with 3.03% total fees
  4. Skrill with 3.84% total fees
  5. Scotiabank with 6.97% total fees

Ranked by % total fees (incl. exchange rate margin) to send US$1000.00 on average in the past 30 days.

Best Payment Method to Transfer Money From Canada to the US

  1. Via a bank transfer with Wise
  2. By debit card with WorldRemit
  3. By credit card with WorldRemit
  4. Via direct ACH bank payment with Wise
  5. In cash at a location with MoneyGram

Best Ways To Receive Money In the US From Canada

  1. Via a bank deposit with Wise
  2. Via debit card with WorldRemit
  3. Via credit card with WorldRemit
  4. Via cash pick-up with MoneyGram

How To Send Money From Canada to the US

When considering how to send money from Canada to the US, you'll have many options at your disposal. However, while it may seem overwhelming, it's all straightforward to transfer money from Canada to the US. The process will generally involve making a bank transfer, card payment, or another form of mobile payment.

Transfer Money From Canada to a US Bank

To transfer money from Canada to a US bank account, you'll have two options:

On the one hand, you can make an international wire transfer to send money from Canada to the US, which can be done from your American bank account to your (or your recipient's) Canadian one. Wire transfers from Canada to the US are preferred by most big-name US banks and tend to be very slow and pricey. Find out more about making a wire transfer from the US in our in-depth guide here. (Bear in mind that it's possible to send money from a Canadian bank to the US via Interac's partnership with Mastercard and Western Union, meaning that it's possible to use Interac e-Transfer to send money from Canada to the US.)

The other option you have is to make an ordinary bank transfer (i.e. an ACH transfer) to the local bank account of an international money transfer specialist service, which, in turn, will pay out the funds more speedily and cheaply to your recipient in Canada than the bank would.

When sending money from Canada to the US, these specialist services are significantly faster and equally secure as the banks, and everything is wrapped up at a fraction of the cost. This is because funds sent via wire transfers (the method most banks use to send money abroad) typically need to follow several steps as they pass via SWIFT, adding new time and costs to the process. Find out more about how ordinary ACH transfers differ from wire transfers in our guide here.

According to search data from Monito's comparison engine for Canada to the US money transfers between June 2020 and 2021, the best way to transfer money from Canada to the US is usually one of the following specialist services:

Canada to US Money Transfers With Wise

Wise offers domestic bank transfers, wire transfers, and credit and debit card payments to be deposited into any Canadian bank account. It was the cheapest way to send money to the US from Canada on a convincing 86% of Monito comparisons between June 2020 and 2021.

Canada to US Money Transfers With WorldRemit

WorldRemit, which offers speedy bank transfers and card payments to bank accounts in Canada, was the cheapest way to transfer money from Canada to the US on 4% of Monito comparisons between June 2020 and 2021.

Canada to US Money Transfers With OFX

Primarily geared toward large transfers (i.e. greater than C$25,000.00), OFX is an excellent foreign exchange broker for transfers from Canada to the US and is highly competitive on more significant transfer comparisons on Monito:

Very Large Bank Transfers From Canada to the US

If you'd like to send a substantial amount of money from the US to a bank account to an American one (i.e. more than C$50,000.00), your best bet will be to use a foreign exchange broker. These services are similar to ordinary money transfer and remittance services. The main difference is that they're specialised in large transfers and can negotiate favorable exchange rates on your behalf.

According to search data on Monito's comparison engine between June 2020 and 2021, OFX was the best way to send money from Canada to the US for large amounts, offering the cheapest transfers on 41% of all searches above C$50,000.00 during that period. OFX was followed by Currencies Direct, which were both cheapest on 27% of comparisons for large transfers.

What's The Best Way to Transfer Money From Canada to the US?

There are three main ways in which you could be overpaying when you’re sending money from Canada to the US, each associated with the three main types of costs involved:

  • Fixed fees: The fee to convert and transfer money from Canada to the US, which goes as high as US$45.00 per transfer with major US banks;
  • Commission: This is a percentage you pay in fees on the total amount you transfer, meaning that the less you send, the less you pay. These percentage fees can range from under 0.50% to 2.00%.
  • Exchange rate margin: The percentage difference between the mid-market exchange rate (the rate at which banks exchange currency) and the commercial exchange rate (the rate consumers pay.)

The Cheapest Ways To Send Money From Canada to the US

With fixed fees, commissions, and exchange rate margins factored into the equation, take a look at which money transfer services were cheapest on Monito's comparison engine between June 2020 and 2021 for sending money from Canada to the US for different types of transfers:

Looking To Save on Every Transfer?

There's probably a fair chance that you're looking to save money on your transfers from Canada to the US no matter the amount you send or the receiving method. If this sounds like you, then we recommend that you make a point of checking our comparison engine before every transfer. That way, you'll ensure that you both discover the cheapest service in real-time and make considerable savings on your transfers to the US:

The Cheapest Way to Send Money From Canada to the US

Let's start with the most expensive solutions: banks, cash-based money transfers, and mobile payments apps like Paypal are typically very expensive options when you factor in all fees including hidden exchange rate margin fees).

As we mentioned above, the cheapest way to transfer money internationally is to use a specialist money transfer service. They provide much more competitive rates, fees, and commissions than banks or Paypal. Their fees depend on various factors:

  • Pay-in options: Credit card, bank transfer, cash payment, etc.
  • Amount transferred from Canada to the US: The cheapest operator will not necessarily be the same for a transfer of $500 and a transfer of $5,000.
  • Transfer speed: Does the money have to be available instantly, or can a beneficiary wait a few days?
  • Pay-out options: Will the money arrive in your beneficiary's bank account, or will they receive it in cash?

A dozen other parameters influence the price of sending money to the US. You should check out Monito’s live comparison tool with dozens of services to find the cheapest or fastest one for you!

Fastest Way To Send Money to the US From Canada

It comes as no surprise that the speed of your transfer depends on the method you choose to send your money from the US to Canada.

Online money transfer providers are typically the fastest option. For example, Instarem offers transfers that will go to the recipient's account the same day, whereas Skrill and Wise offer transfers that arrive the next business day. 

When comparing the fastest options, always be sure to also compare the exchange rate to check you’re not getting a poor deal. More information about the fastest way to send money abroad can be found in our guide.

Frequently Asked Questions About How To Send Money From Canada to Us

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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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Mid-market exchange rate

To calculate the total cost of your transfer, we compare the exchange rate every provider applies to your transactions with the latest mid-market exchange rate data that we source from XE.

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