Send Money To Canada

Compare ways to send money to Canada and begin your transfer today.

Last updated on August 3rd, 2022 at 04:58 pm by Cate Cook

Find the cheapest way to send money to Canada

Whatever your reasons for wanting to send money to Canada, it’s important to know what the cheapest and most reliable way to get your money there from Australia is. Savvy has partnered with a panel of international money transfer providers who can help you with every aspect of your international transfer. Compare the fees charged, exchange rates offered and other factors here with Savvy today so you can confidently get your funds on their way for the right price.

site-logos Xe
  Minimum Transfer Amount Transfer Speed Transfer Fee Total Currencies Available  
site-logos $0 1-3 days From $0 100
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Xe is a 2021 Canstar Award Winner and offers the best exchange rates, low to no fees so customers save the most money

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site-logos OFX
  Minimum Transfer Amount Transfer Speed Transfer Fee Total Currencies Available  
site-logos $250 1-3 days $0 50+
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OFX offers speed, security and simplicity with no hidden fees, total transparency and real people support 24/7

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site-logos Wise Money Transfer
  Minimum Transfer Amount Transfer Speed Transfer Fee Total Currencies Available  
site-logos $0 1-3 days From 0.41% 53
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Send money cheaper and easier with Wise with no hidden fees.

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site-logos TorFX
  Minimum Transfer Amount Transfer Speed Transfer Fee Total Currencies Available  
site-logos $200 0-2 days $0 35
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Excellent exchange rates with no transfer fees. Trusted by over 325,000 customers. Awarded Canstar’s 5 star rating 2018-2021.

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site-logos SingX
  Minimum Transfer Amount Transfer Speed Transfer Fee Total Currencies Available  
site-logos $0 0-2 days From $0 30
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SingX offers live exchange rates with no mark ups and only charge a nominal fee shown to you upfront

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site-logos Remitly
  Minimum Transfer Amount Transfer Speed Transfer Fee Total Currencies Available  
site-logos $0 0-2 days From $0 21
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Remitly offers fast, safe and secure money transfers with excellent rates to over 100 countries

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More information about sending money to Canada

What are my options for sending money to Canada from Australia?

There are many ways to send money to Canada.  The options you have at your disposal to transfer your funds overseas include:

International money transfer companies

These are companies that specialise in transferring money across international borders.  They don’t use the international SWIFT banking system, but rather have developed other methods for transferring money overseas which are quicker, cheaper and more cost-effective than using the traditional banking system (namely online transfers).

Different transfer companies can offer a wide range of services, from a mobile transfer app which you can use to store currencies from different countries to full online business foreign exchange services.  Choose the type of transfer service you require to best suit your needs.

Cash transfers

Some transfer companies offer cash transfers to Canada, which can be completed in a matter of seconds after you send them.  They offer cash pickups (and sometimes deliveries) on the same day which can be collected at your Canadian destination almost immediately by a designated recipient. However, these often come with higher fees attached compared to transfers sent directly to a bank account, so it may not be the most suitable choice for you.

Traditional bank transfers

You could also use your traditional bank to transfer money to Canada.  However, they’ll charge fees of up to $30 to do so, and their exchange rate is likely to be lower also.  In addition, you’ll often have to wait for three to five business days for your bank transfer to arrive, making them a more expensive and slower choice for sending your money to Canada.


PayPal is another option for sending money overseas. However, even though the money may instantly appear in your recipient’s PayPal account in Canada, it may take an additional three to five days for the funds to land in their standard bank account.  You also won’t know in advance what exchange rate you’ll be given, which can often be far less favourable compared to those charged by a specialist international transfer company. If you compare a PayPal transfer with one offered by an international money transfer service, you’ll find the latter is by far the cheapest option.

Phone top-up

Another method to get money to Canada is to send funds through to a mobile phone pre-paid SIM card. Although this method can be useful if the person receiving the funds doesn’t have a bank account, you won’t have any say in the exchange rate you receive or the fees charged, which can be substantially higher than if you use an international money transfer company. 

Using Apple Pay

Whether you can use Apple Pay to finance your transfer to Canada will depend on which company and the method you choose, as not all providers support Apple Pay.  However, it’s important to know that using credit cards such as those linked to your Apple Pay digital wallet to pay for your international money transfer can cost you a fee of between 3% and 5% of the transfer amount, in addition to other set fees.

Whichever way you choose to complete your international money transfer, your cheapest and most efficient option will be using a specialist money transfer provider. You can compare from a variety of respected and licenced companies right here with Savvy and get your transfer to Canada underway today.

How much does it cost to send money to Canada?

There are two main aspects to the cost of sending money to Canada: the exchange rate you’ll be offered and the fees charged to make the transfer.

Exchange rates

When comparing your options, aim to get as close to the mid-market exchange rate as possible. The mid-market exchange rate is the ‘true’ international exchange rate banks use to exchange money between themselves, so this rate offers the best deal at any point in time. The markup put on the exchange rate when you transfer money internationally will have the greatest effect on how many of your Australian dollars end up in Canada; the closer to the mid-market rate your exchange rate is, the more Canadian dollars you’ll be able to buy.


Money transfer fees are either based on a percentage of the transfer amount (typically from 0.4% to 0.65%) or you’ll be charged a small set fee (up to $15), with an additional markup on the exchange rate possible being added also. Which type of fee structure is best for you will depend on how much you wish to send.  In general, if you’re transferring under $5,000 to Canada, a percentage-based fee may be your cheapest option.  Over $5,000, and you’re likely to be better off with a set fee.

Business customers

If you want to transfer money for business reasons to Canada regularly, it could be worthwhile looking into companies that offer business-focused services.  Such transfer companies offer business account managers to regular customers and can offer discounts to repeat customers who regularly send money overseas from Australia to Canada for business reasons. Therefore, your business may be able to save on money transfers by choosing one of these options.

What else should I compare between providers before sending money to Canada?

Delivery time

International money transfer companies can get money overseas quickly, either instantly in seconds, on the same day or within two days on average.  However, not all companies offer the same speeds, so this is a point to consider when comparing.  Some providers charge a premium to ensure express delivery, so this may be an option for you if you need your money urgently. However, it usually isn’t worth paying more for a fast transfer if there isn’t any great time pressure.

Minimum and maximum transfer limits

There are minimum transfer limits imposed by some companies.  These range from $1 right up to $250 for minimum limits, while maximums range from $5,000 per day up to an almost unlimited sum of $500,000 or more in some cases. It’s important to ensure that the transfer you need can be facilitated by your provider.

Payment methods

Most international transfers can be paid for either by direct debit from your bank account, by EFTPOS using a debit card, or by cash if you’re arranging the transfer in person.  You should always check with each provider that they support your preferred payment method. 

Currency tools

Some transfer companies offer currency tools to assist you in getting the best exchange rate.  These include:

  • Exchange rate guarantees, which mean the exchange rate won’t change from the one you’ve been quoted until the time you send your transfer
  • Rate alerts, which can notify you when a particular exchange rate has been reached
  • Limit orders, which you can set to make sure your transfer doesn’t go ahead until a pre-defined exchange rate has been reached
  • Forward contracts, which can lock in your exchange rate for a specified period, sometimes up to a year in advance

How do I send money to Canada?

If you wish to send money to Canada, first you’ll have to open a transfer account.  This is a quick and simple process that should take no longer than five minutes. The steps to follow are:

  • Click on the provider of your choice and you’ll be asked to supply your name and email address.
  • Once you’ve received the email telling you how to set up an account, follow all the instructions given for account opening. You may have to open your account through a website or download an app.
  • As part of the process, you’ll have to provide a form of Government-issued ID, such as a passport or driver’s licence. This is so that all international transfers can be tracked by the Australian Government’s money-laundering prevention agency, AUSTRAC.
  • Once your transfer account has been set up, enter the details of the person you wish to send money to and the amount you wish to send.
  • You’ll need to provide their Canadian 8-digit routing number to have the money paid into their bank account. This routing number consists of three digits of an institution number and five digits of a branch transit number, usually preceded by a zero (0 XXX YYYY).  After the routing number comes their account number, which is an additional 7-12 digits. 
  • Once you’ve supplied all the necessary details and sent off your transfer, you should receive a confirmation number and receipt, which you should store in a safe place.

All transfers over $10,000 also have to be reported to AUSTRAC through your transfer provider, so if you’re making a big transfer, you can expect to be asked to provide proof about the source of the funds and why they’re being sent overseas.

Frequently asked questions about sending money to Canada

Are there any limits as to how much money I can send to Canada?

No – there are no Government limits on how much money you can send from Australia to Canada, although, as mentioned above, individual companies do have their minimum and maximum limits. You may also be constrained by any bank account’s maximum daily withdrawal limits on your transaction account, which could be capped at $5,000.

Is it possible to get a free money transfer to Canada?

Yes – some companies offer free transfers to attract new clients.  If your transfer is going to be a one-off, it may be worth investigating companies such as Remitly, which offers free transfers to new customers. This could be your best way to send money overseas if you’re making a one-off or infrequent transfer. Other companies offer free transfers over a set amount, such as $10,000. If you’re offered a free transfer, check that you’re also being offered a competitive exchange rate.

Can I send money to someone in Canada if they don’t have a bank account?

Yes – you can send money directly to a mobile phone through a telco if your recipient doesn’t have a bank account, or send them a cash transfer.  However, the exchange rate you’ll receive for your cash transfer or phone top-up may not be competitive and you’ll likely be charged higher fees for these services.

Are money transfer companies safe to use?

Yes – sophisticated encryption is used by transfer companies to send your money overseas.  These are the same methods employed by the big banks, so your personal details are kept safe from hackers.  You can have peace of mind that you’re dealing with a reliable and trusted company when you compare and choose from one of Savvy’s partnered providers.

How will I know when my money arrives in Canada?

Some companies provide transfer tracking tools as part of their app or online platform.  When you’ve sent your transfer, you may receive a tracking number which you can enter into the app and see exactly when your money arrives in Canada.