Send Money to Canada | Money Transfer to Canada - Wise, formerly TransferWise (2024)

FAQs

Can you send money from US to Canada with Wise? ›

Send money to Canada from the US with the Wise app

Cheaper transfers abroad - free from hidden fees and exchange rate markups. Check exchange rates - see on the app how exchange rates have changed over time. Repeat your previous transfers - save the details, and make your monthly payments easier.

Remitly: Bank transfer or card (debit, credit, and prepaid) Currencies Direct: Bank transfer or debit card. WorldRemit: Bank transfer, card (debit, credit, and prepaid) or Apple Pay. Western Union: Bank transfer or card (debit or credit)

TransferWise Canada Inc. offers the service to Canadians and is registered with the Financial Transactions Reports Analysis Centre of Canada (“​FINTRAC​”) with number M15193392 and has a license with the Quebec Autorite des Marches (number 902804).

You can send up to 9,500 CAD per day and 30,000 CAD weekly by direct debit. You can send up to 3,000 CAD per transfer by debit or credit card. You can send up to 1.5 million CAD by online bill payment and wire transfer. You can send up to 25,000 CAD by Interac e-Transfer (your bank may have a lower limit than this).

Wise is safe and secure.

Wise is an authorised Electronic Money Institution independently regulated by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) in Canada.

No. Zelle is not currently available in Canada. According to its website, to use the Zelle payment platform, “the sender and recipient's bank account must be based in the U.S.” When sending money via Zelle to a mobile phone number, it must be registered in the U.S.

Although Canada does not place any limits on how much money can be transferred to or from the country, international transactions of $10,000 or more are tracked by the Canadian government to prevent money laundering, terror financing, and other financial crimes.

What information do I need about my recipient? You'll need their full name, full address (we don't accept PO boxes), bank account number, ACH or wire routing number (or ABA), and account type. If you're sending to an individual, please include their first and last names and use only Latin characters (a-z).

How trustworthy is Wise? ›

They're a provider that is regulated and licensed in the US, overseen by several bodies. Wise doesn't keep your money in a general pot either – it safeguards all customer funds by placing about 60% of your money in liquid assets and 40% in cash in reputable banks at reputable financial institutions.

To earn interest on your Wise Balance as a US customer, we have to make sure we're reporting your correct details to the IRS as an added layer of security.

If you're considering using Wise for a payment or to hold a balance, it's natural to wonder if it's a legit service. The good news is that Wise is safe to use, whether you want to send or receive a payment, spend internationally, convert currencies or hold a balance.

No, you cannot send money to Canada with Venmo, as Venmo is available only in the US. The payment app only allows you to send money from one US bank account to another, meaning both the sender and the recipient must have US bank accounts. We recommend using Monito.com to compare alternatives instead.