How to Send Money From Canada to the United States

The main ways to transfer money from Canada to the US

You can move money from Canada to the US through your bank's wire transfer service, a money transfer company like Wise or OFX, a peer-to-peer app like PayPal, or by writing a cheque in US dollars. Each method differs in speed, cost, and the exchange rate you receive. Your choice depends on how much you're sending, how quickly you need it to arrive, and whether you want the lowest fee or the fastest delivery.

Banks typically charge $15 to $50 per wire transfer and take one to three business days. Money transfer companies often charge less but may take longer. Apps like PayPal are fast but may have higher markups on the exchange rate. A US dollar cheque is free but can take two to four weeks to clear.

Key Takeaways

• Bank wire transfers are reliable but usually cost $15 to $50 and take one to three business days to arrive.
• Specialist money transfer companies like Wise and OFX often charge lower fees than banks but may take longer to process.
• The exchange rate you receive varies by provider — banks typically offer worse rates than money transfer companies.
• Apps like PayPal and Wise offer speed but charge fees or markups that can add up on large transfers.
• You will need the recipient's US bank account number, routing number, and full name, or their mailing address if sending a cheque.

Bank wire transfers: the standard method

A wire transfer through your Canadian bank is the most straightforward route if you already have an account. You visit your bank in person or log into online banking, provide the recipient's US bank account details (their account number, routing number, and full name), and authorize the transfer. The money usually arrives within one to three business days.

Canadian banks charge between $15 and $50 per outgoing wire to the US, depending on your bank and account type. Some accounts waive the fee if you maintain a minimum balance. The exchange rate your bank applies is typically 1 to 2 percent worse than the mid-market rate — meaning you lose money on the conversion itself, on top of the fee.

To find your recipient's routing number, they can check their cheques, call their bank, or look it up on their bank's website. The routing number is a nine-digit code that identifies their specific bank branch. Without the correct routing number, the transfer may be delayed or sent to the wrong account.

Money transfer companies: lower fees, variable speed

Services like Wise, OFX, Remitly, and MoneyGram specialize in cross-border transfers and often charge less than banks. Wise typically charges 0.5 to 1.5 percent of the amount transferred plus a small flat fee (usually $1 to $3 CAD), while OFX charges a flat fee of around $10 to $15 CAD. Both offer exchange rates much closer to the mid-market rate than banks do.

The trade-off is speed. Wise can deliver money within one business day if you use their fast option, but standard transfers take two to four business days. OFX usually takes three to five business days. You set up an account online, enter the recipient's details, and authorize the transfer through your Canadian bank account or debit card.

These companies work by holding money in both countries and matching transfers — your Canadian dollars go into their Canadian account, and US dollars come out of their US account to your recipient. This method is cheaper than a traditional wire because they avoid some of the banking fees that traditional banks charge each other.

PayPal and peer-to-peer apps: speed over cost

PayPal and similar apps let you send money to a US recipient's email address or phone number within minutes. You link your Canadian bank account or debit card, enter the recipient's details, and the money moves almost when ready. The recipient receives it in their PayPal account or linked US bank account.

PayPal charges 2.2 percent of the amount plus $0.30 CAD for transfers to the US, and applies an exchange rate markup that can add another 1 to 2 percent to your cost. For a $500 transfer, you might pay $15 to $20 in total fees and markups — more than a money transfer company would charge, but faster than a bank wire.

These apps work best for smaller amounts or when speed matters more than cost. They are less suitable for large transfers, where the percentage-based fee becomes expensive.

US dollar cheques: free but slow

If you have a US dollar account at a Canadian bank, you can write a cheque in US dollars and mail it to the recipient's US address. There is no fee. The recipient deposits it into their US bank account, and it clears in two to four weeks.

This method is free but impractical for urgent transfers. It also requires you to hold a US dollar account, which not all Canadian banks offer. If you do not have one, opening an account just to write a cheque is not worth the effort for most transfers.

What information you need before you start

For a wire transfer or money transfer company, you need the recipient's full legal name (exactly as it appears on their bank account), their US bank account number, and their bank's routing number. The routing number is nine digits and identifies the specific bank branch. You can find it on a cheque, by calling the bank, or on the bank's website.

Some money transfer companies also ask for the recipient's address and phone number. For a cheque, you only need their mailing address and the amount in US dollars.

Double-check all details before sending. If the account number or routing number is wrong, the transfer may be rejected or sent to the wrong account. Some banks can recover the money, but it takes time and may involve fees.

Exchange rates and hidden costs

The exchange rate you receive is not the same as the mid-market rate you see online. Banks typically mark up the rate by 1 to 2 percent. Money transfer companies mark it up by 0.5 to 1 percent. PayPal and similar apps mark it up by 1 to 2 percent.

On a $1,000 transfer, a 1 percent markup costs you $10 CAD. On a $5,000 transfer, it costs $50 CAD. Over time, using a provider with a better exchange rate can save hundreds of dollars, especially if you transfer money regularly.

Always check the total cost before confirming the transfer. Most providers show you the exchange rate and all fees upfront, so you know exactly how much the recipient will receive.

Frequently Asked Questions

How long does a bank wire transfer from Canada to the US take?

Most bank wire transfers arrive within one to three business days. Some banks offer expedited wires that arrive the same day, but these usually cost extra. Weekends and US holidays can add a day or two to the timeline.

Which method is cheapest for sending $500?

A money transfer company like Wise or OFX is usually cheapest for $500. Wise charges roughly $7 to $10 total, while a bank wire costs $15 to $50. PayPal costs $11 to $15. The exact amount depends on the current exchange rate and your provider's fees.

Can I send money to someone else's US bank account?

Yes. You provide their account number, routing number, and full name. The money goes directly into their account. You do not need their permission, but they should expect the transfer so they know to look for it.

What happens if I use the wrong routing number?

The transfer may be rejected and returned to you within a few days, or it may be sent to the wrong bank. Contact your provider or bank when ready if you realize the error. They may be able to recall the transfer, but this takes time and sometimes costs a fee.

Do I need a US bank account to receive money from Canada?

No. The recipient needs a US bank account. If they do not have one, they can open a basic checking account at most US banks with a passport or other ID. Some money transfer companies also offer prepaid cards that work like a bank account for receiving transfers.