How to Send Money from Canada: The Complete 2026 Guide

If you only have 30 seconds: open the CAD comparison for your destination. Typical winners: Wise, Remitly, Xoom, CIBC Global Money Transfer (competitive on small amounts). Avoid the major banks' regular international wire — RBC, TD, BMO, Scotia all bake 3-4% into the rate.

Interac e-Transfer is the dominant Canadian funding rail — instant, free from any major Canadian bank, and supported by all major remittance providers:

• Interac e-Transfer — Free, instant, supported by all providers. The default for most senders.
• Direct debit (PAD) — Free at most providers, takes 1-3 business days.
• Debit card — Instant. Sometimes adds 0.5-1% surcharge.
• Credit card — Instant. Adds 1-3% surcharge plus your card issuer's cash-advance fee.
• Bank wire — Same-day. C$25-40 fee from most Canadian banks.

• Transfers above C$10,000 to a single recipient: Auto-reported by the provider via Large Cash Transaction Report (LCTR). No action needed from you.
• Money services businesses (MSBs) must register federally with FINTRAC. Quebec adds its own provincial licence.
• Multiple smaller transfers (Structuring): Same prohibition as US. Reporting is automatic.
• Suspicious Transaction Reports (STRs): Filed at the provider's discretion when patterns look unusual. Most personal remittances never trigger this.

• Personal gifts to family abroad: not taxable. Canada has no gift tax — at any amount.
• No annual cap on outbound personal remittances for tax purposes.
• Income paid abroad (contractor fees, business payments) may have T4A or T4A-NR implications. Consult an accountant.
• Estate considerations: Large inter vivos gifts may have Departure Tax implications if you later emigrate from Canada.
• No FBAR equivalent. You declare foreign-held assets above C$100,000 on T1135 annually if relevant — but that's about holding, not sending.

• Best overall: Wise. Mid-market + percentage fee. Best for amounts above C$1,000.
• Best for India (UPI delivery): Remitly Express, Wise. CIBC Global Money Transfer is competitive on small amounts.
• Best for China: Wise. Limited providers due to China's FX restrictions.
• Best for Philippines: Wise, Remitly, WorldRemit. GCash delivery in seconds.
• Best for cash pickup destinations: Western Union, MoneyGram, Xoom (PayPal).
• Best for amounts above C$10,000: OFX. No fee on transfers above C$10,000 plus competitive rates.
• Avoid: RBC, TD, BMO, Scotiabank international wires. CIBC Global Money Transfer is the exception — it's a separate competitive product.

• [CAD → INR](/send-money/cad-to-inr): C$2.5B+/year, largest Canadian corridor. Wise and Remitly lead; CIBC Global is a competitive bank-channel option.
• [CAD → PHP](/send-money/cad-to-php): C$1B+/year. Wise, Remitly. GCash delivery instant.
• CAD → CNY: C$800M+/year. Wise, OFX. Limited options due to China's FX rules.
• [CAD → PKR](/send-money/cad-to-pkr): C$300M+/year. Wise, ACE Money Transfer (PRI-eligible).
• [CAD → MXN](/send-money/cad-to-mxn): Growing fast. Wise, Remitly Express, Xoom. SPEI delivery in seconds.
• [CAD → NGN](/send-money/cad-to-ngn): Growing. Wise, Sendwave (where available), Remitly.
• CAD → EUR: Major business flow. Wise leads.

1. Open the live comparison; enter your exact amount.
2. Look at 'Recipient gets'.
3. Compare to mid-market: send amount × Google's CAD/destination rate. Gap should be under 1.5%.
4. If your bank wire is < 0.5% above the cheapest fintech, the convenience may be worth it. If > 1%, switch.