How to Send Money From the US to Canada

The fastest way to send money to Canada is through a bank wire transfer, which usually arrives in one to three business days and costs $15 to $50 depending on your bank

A bank wire is the most direct route: you give your US bank your recipient's Canadian bank details, and the money moves through the banking system without leaving your account. The downside is the fee — most US banks charge between $15 and $50 per wire — and you need your recipient's full name, account number, and the routing number of their Canadian bank branch.

If cost matters more than speed, a money transfer service like Wise, OFX, or MoneyGram often charges less and gives you a better exchange rate than your bank does. These services take two to five business days but may cost $5 to $15 instead. The tradeoff is that you're sending money through a third party rather than your own bank, so you'll need to create an account and verify your identity before the first transfer.

Key Takeaways

• Bank wire transfers arrive in one to three business days but cost $15 to $50 per transfer.
• Money transfer services like Wise or OFX usually charge less and offer better exchange rates, but take two to five business days.
• You need your recipient's Canadian bank account number, their full name, and their bank's routing number for any method.
• Exchange rates vary by provider and change daily, so the total your recipient gets depends on when you send, not just how much you send.
• PayPal and Venmo work for small amounts between people who know each other, but charge fees and give worse rates than banks or transfer services.

What information you need before you send

Before you start any transfer, collect these details from your recipient: their full legal name (as it appears on their bank account), their Canadian bank account number, and the routing number or transit number of their bank branch. In Canada, this is called the "transit number" or sometimes the "branch number." You may also need the SWIFT code for their bank, which is a four-letter code that identifies the bank internationally.

Ask your recipient to get this information from their bank statement or online banking portal — it's faster than calling the bank. If they're not sure, their bank's customer service can provide it in minutes. Having the wrong account number is the most common reason a transfer gets delayed or sent back, so double-check before you submit.

Bank wire transfers: speed and simplicity

To send a wire through your US bank, log into your online banking or call the wire transfer department. You'll provide your recipient's name, account number, and Canadian bank routing information. Most banks let you do this online, though some still require a phone call or a visit to a branch.

The money usually leaves your account the same day if you send it before your bank's cutoff time (often 2 or 3 p.m. Eastern time on weekdays). It arrives at your recipient's Canadian bank in one to three business days. Your bank will charge you a fee — typically $25 to $50 for an international wire — and you'll see it deducted from your account along with the amount you're sending.

One thing to know: your bank's exchange rate is usually worse than what you'd get through a money transfer service. If you're sending $1,000, your bank might use an exchange rate of 1.25 CAD per USD, while Wise might offer 1.28. That difference adds up on larger amounts.

Money transfer services: lower costs and better rates

Services like Wise, OFX, and Remitly let you send money online without using your bank. You create an account, verify your identity (usually by uploading a photo ID), and then you can send transfers whenever you want. The exchange rates are typically better than banks offer, and the fees are lower — often $5 to $15 per transfer depending on the amount.

The tradeoff is speed: most money transfer services take two to five business days instead of one to three. You'll also need to link a US bank account or debit card to fund the transfer. Some services let you pay with a credit card, but they charge extra for that option.

Wise is popular for Canada transfers because it shows you the exact exchange rate and fee before you confirm, so there are no surprises. OFX is another option that works well for regular transfers. Both let you set up a transfer in minutes once your account is verified.

PayPal and Venmo for small amounts

If you're sending less than $500 to someone you know well, PayPal or Venmo might work. Both let you send money to a Canadian recipient's email address or phone number. The process is straightforward: you log in, enter the amount, and send it.

The catch is that PayPal and Venmo charge fees for international transfers — usually 2% to 3% of the amount plus a fixed fee of $1 to $2. Their exchange rates are also worse than banks or dedicated transfer services. For $500, you might pay $15 to $20 in fees and exchange rate markup combined. That makes them expensive for anything larger than a small personal transfer.

PayPal also holds the money for a few days before releasing it to your recipient's account, so it's slower than a bank wire. Use PayPal or Venmo only if convenience matters more than cost, or if the amount is small enough that the fee doesn't sting.

Exchange rates and how they affect what your recipient gets

The exchange rate between US dollars and Canadian dollars changes every day. When you send $1,000, your recipient doesn't get a fixed amount in CAD — they get whatever $1,000 converts to on the day your transfer processes, using the rate your provider offers.

Banks usually offer worse rates than money transfer services. A bank might use a rate of 1.24 CAD per USD, while Wise might offer 1.27 or 1.28. That means on a $1,000 transfer, your recipient gets $1,240 from the bank or $1,270 from Wise — a $30 difference before you even count the fee.

You can't control the exchange rate, but you can control which provider you use. If you're sending a large amount, compare the all-in cost (fee plus the exchange rate markup) between your bank and at least one money transfer service before you decide. Most services show you the exact rate and total cost before you confirm the transfer.

Timing and when the money arrives

Bank wires usually arrive in one to three business days. Money transfer services usually take two to five business days. The exact timing depends on when you send it, which day of the week it is, and whether there are holidays in either country.

If you send a wire on a Friday afternoon after your bank's cutoff, it won't process until Monday, and your recipient might not see it until Wednesday or Thursday. Canadian banks also observe different holidays than US banks — for example, they observe Family Day in February — so a transfer sent on a US holiday might take longer.

Tell your recipient roughly when to expect the money, but add a day or two to your estimate to be safe. If the money doesn't arrive within the timeframe your provider promised, contact them with your transfer reference number (you'll get this when you send the money).

Frequently Asked Questions

Do I need to report this transfer to the IRS or to Canadian authorities?

No, sending money to Canada is not a taxable event and doesn't require a report. However, if you're sending more than $10,000 in a single transfer or multiple transfers in a short period, your bank may file a Currency Transaction Report (CTR) with the US government — this is routine and not a sign of a problem. The Canadian recipient doesn't report the incoming transfer as income unless it's payment for work or a business transaction.

What happens if I give the wrong account number?

If the account number doesn't match any account at the Canadian bank, the transfer will be rejected and the money will come back to your US account within a few days. If the number matches a different account at the same bank, the money might go to the wrong person — which is why double-checking is important. Once money is sent to the wrong account, recovery is difficult and depends on the cooperation of the person who received it.

Can I send money to a Canadian credit card or PayPal account?

Not directly through a bank wire or most money transfer services. These methods require a bank account. You can send money to a Canadian PayPal account through PayPal itself, but you'll pay their international transfer fee. If your recipient doesn't have a bank account, they can open one at any Canadian bank — the process is similar to opening a US account and takes a few days.

Is it cheaper to use my credit card or debit card to send money?

Usually no. Credit cards charge a cash advance fee (typically 3% to 5%) plus interest starting when ready, on top of any transfer fee. Debit cards are better, but most money transfer services charge extra if you pay with a debit card instead of linking a bank account. Linking your bank account directly is almost always the cheapest option.

How much can I send at once?

Your bank and the money transfer service both have limits. Most banks allow $10,000 to $25,000 per wire transfer without special approval, though you can request higher limits. Money transfer services usually start with lower limits ($5,000 to $10,000) that increase as you build a history with them. If you need to send more, contact the provider and ask about increasing your limit.