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.

Wire transfer is convenient, easy and the best way to send money to Canada. They are mostly done by the banks but some online service providers offer it cheaply. They provide you with better exchange rates than what the banks offer.

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 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).

You can send up to 1 million GBP per transfer. Please keep in mind, if you want to send more than 1 million GBP, you'd need to transfer it from your Wise account. This means: You'll need to open an account for the currency you want to convert from and the currency to convert to (GBP).

You can use Interac e-Transfers to send money to anyone in Canada who has an account with a participating financial institution. However, since Interac is a Canadian interbank network, e-transfers are not available outside of the country.

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.

One of the safest, most efficient ways to move money from your account into someone else's is to send a wire payment through your financial institution. Wire payments between Canadian financial institutions are protected by a strong legal framework that enables trusted near real-time payments across Canada.

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.

What information is needed for a wise transfer? ›

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).

Yes it is. Since 2011, more than 10 million customers have used Wise. And every month, they trust us to move their money quickly and safely.

If you earned 10 or more USD in the 2023 calendar year across your interest-earning balances we'll provide you with a 1099-INT to comply with standard IRS tax procedures. To download your 1099: Select your profile icon (top left in the app or top right on the website) Select Statements and Reports.

Bank transfers are usually the cheapest option when it comes to funding your international money transfer with Wise. Bank transfers can be slower than debit or credit cards, but they usually give you the best value for your money.

You can send USD to any bank account in the US that accepts ACH payments or wire payments. You can also send USD to bank accounts outside the US using the Swift payment network.

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.