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

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Compare 10 providers for a 500 USD transfer from the USA to Canada

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

    True cost

    • Pay by: Debit card, Credit card

      9.65 USD

      12.58 USD

      Receive: 629.75 CAD

Compare 8 providers

Sorted by

  • Best deal
    CurrencyFair
    8.6
    Zero fees on your first 10 transfers
    3 to 4 days

    True cost

    • Pay by: Bank transfer

      2.68 USD

      5.79 USD

      Receive: 638.70 CAD

  • Wise
    9.5
    Over 120,000 five-star reviews on Trustpilot
    Locked-in exchange rates
    2 days

    True cost

    • Pay by: Direct bank payment

      4.21 USD

      Receive: 636.74 CAD

    • Pay by: Bank transfer

      6.71 USD

      Receive: 633.52 CAD

    • Pay by: Debit card

      9.93 USD

      Receive: 629.39 CAD

    • Pay by: Credit card

      23.72 USD

      Receive: 611.68 CAD

  • InstaReM
    8.0
    20 USD off your first transfer with code NEW20
    2 to 3 days

    True cost

    • Pay by: Direct bank payment, Bank transfer

      4.28 USD

      Receive: 636.65 CAD


    In minutes

    True cost

    • Pay by: Debit card

      14.19 USD

      Receive: 623.92 CAD

    • Pay by: Credit card

      19.15 USD

      Receive: 617.55 CAD

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

    True cost

    • Pay by: Debit card, Credit card, Bank transfer

      4.87 USD

      10.27 USD

      Receive: 635.89 CAD

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

    True cost

    • Pay by: Debit card, Credit card

      9.65 USD

      12.58 USD

      Receive: 629.75 CAD

  • Xendpay
    6.6
    2 days

    True cost

    • Pay by: Credit card, Debit card

      17.16 USD

      Receive: 620.11 CAD

  • Xoom
    6.4
    2 days

    True cost

    • Pay by: Bank transfer

      23.79 USD

      Receive: 611.58 CAD

    • Pay by: Credit card, Debit card

      33.90 USD

      Receive: 598.61 CAD

  • Bank of America
    ?
    Not recommended Consistently poor exchange rates, high fees and low customer satisfaction.
    Next day

    True cost

    • Pay by: Bank transfer

      33.99 USD

      Receive: 598.49 CAD

      Estimated

    Details

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 the USA to Canada at the best rate?

We found 10 different options available for sending money from the USA to Canada.

If you need the recipient to receive Canadian dollars in his bank account in Canada, then the most competitive provider at the moment is CurrencyFair, with zero transfer fees and a good USD-CAD conversion rate (currently at 1 USD = 1.2842 CAD).

Adding the fees and exchange rate margin, the total cost with CurrencyFair is 2.68 USD, in comparison you would pay a total cost of 33.99 USD (which is roughly 13x more) if you selected to use Bank of America to make the same transfer.

For transferring money to Canada, it might be interesting to also check out two other alternatives to CurrencyFair: Wise and InstaReM.

You prefer the money to arrive in cash? No problem, we list 2 money transfer companies able to send Canadian dollars in cash in Canada: the most competitive option currently is MoneyGram, with 9.99 USD for the transfer fees and a good USD-CAD exchange rate (their current exchange rate is 1 USD = 1.2602 CAD).

This recommendation was updated a few minutes ago.

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

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 the USA to Canada:

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Best Ways to Send Money from the USA to Canada

How To Send Money From the US to Canada

If you want to transfer money from the US to Canada, 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. We go through them both below:

1 — How to Transfer Money From the US to a Canadian Bank Account

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

Using your bank — whether it be Wells Fargo, Bank of America, Citibank, Capital One or any other — is a reliable option for sending money from your bank account to a bank account in Canada. 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.

Sending money from the US to Canada with Wells Fargo, 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.

3 — Google Pay From the US to Canada

Another option is to use your Google Pay account to make a quick and low-cost USD to CAD transfer via your smartphone. You'll need to go through Western Union or Wise to complete the transaction. (We recommend using Wise in these cases, as it's almost always the cheaper option for sending money from the US to Canada.)

Cheapest Ways to Transfer Money From the US to Canada

  1. Instarem with 1.08% total fees
  2. WorldRemit with 1.11% total fees
  3. Wise with 1.26% total fees
  4. MoneyGram with 4.35% total fees
  5. PayPal with 5.30% total fees

Ranked by % total fees (incl. exchange rate margin) to send $1,000 on average in the past 30 days.

Best Payment Method to Transfer Money From the US to Canada

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

The best option for all those mentioned types of payment methods is Wise, but for cash we recommend MoneyGram.

Best Ways To Receive Money In Canada From the US

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

The best option for receiving money is Wise (via bank deposit, debit or credit card) but we recommend MoneyGram for cash pick-up.

How To Send Money From the US to Canada

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

How to Transfer Money to a Canadian Bank Account

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

On the one hand, you can make an international wire transfer to send money from the US to Canada, which can be done from your American bank account to your (or your recipient's) Canadian one. Wire transfers from the US to Canada are the preferred method of most big-name US banks and tend to be very slow and pricey. Find out more about how to make a wire transfer from the US in our in-depth guide here. (Bear in mind that while it's possible to send money from a Canadian bank to the US via Interac's partnership with Mastercard and Western Union, the service is only available to Canadian bank account holders, and therefore it's not possible to send an Interac e-Transfer from the US to Canada.)

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 the US to Canada, these specialist services are significantly faster and equally as 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, all of which add 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 the US to Canada money transfers between June 2020 and 2021, the best way to transfer money from the US to Canada is usually one of the following specialist services:

US to Canada 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 Canada on 65% of Monito comparisons between June 2020 and 2021.

US to Canada Money Transfers With Instarem

Instarem offers fast and well-priced bank-to-bank money transfers from the USA to Canada and was the cheapest way to send money to Canada on 22% of Monito comparisons for the corridor between June of 2020 and 2021.

US to Canada 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 the US to Canada on 4% of Monito comparisons between June 2020 and 2021.

Very Large Bank Transfers From the USA to Canada

If you'd like to send a substantial amount of money from the US to a bank account to a Canadian one (i.e. more than $50,000), 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 by far the best way to send money from the USA to Canada for large amounts, offering the cheapest transfers on 55% of all searches above $50,000 during that period. OFX was followed by Halo Financial and Wise, which were both cheapest on 19% of comparisons for large transfers, respectively.

Can You Venmo to Canada?

No, it won't be possible to use Venmo to send money to somebody in Canada. This is because Venmo is solely a US service and is not supported in Canada. Find out more in our money transfer guide here.

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

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

  • Fixed fees: The fee to convert and transfer money from the USA to Canada, which goes as high as $45 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 0.5% to two 2% or more.
  • 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 at which consumers pay.)

The Cheapest Ways To Send Money to Canada

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 the US to Canada 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 the US to Canada 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 Canada.

The Cheapest Way to Send Money From the US to Canada

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 the US to Canada: 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 Canada. 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 Canada From the US

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 the US to Canada

Everyone wins, except expensive solutions

With our model, the only losers are the expensive banks or providers you’ll stop using!

To ensure our independence, we always use transparent, objective and verifiable criteria in our comparison. No provider can buy their way to the top of our results.

We include as many providers as possible in our comparison and have partnerships with almost all major and innovative providers.

We make sure you never pay more than if you went directly to the provider of your choice. We even negotiate special offers for you with many of our partners.

  • You save money on your transfer by selecting the cheapest provider.

  • The best providers earn new customers without expensive marketing, helping keep their costs (and prices) low.

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Questions you may have

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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