How to Send Money from Canada: The Complete 2026 Guide

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.

Canada sends $23+ billion in remittances annually — primarily to India, Philippines, China, Pakistan, and Jamaica. The Canadian market has several strong options, though it's somewhat less competitive than the US market.

• Wise: Strong for CAD→INR, CAD→PHP, CAD→PKR, and all major currency pairs. Canadian e-transfer funding is straightforward.
• Remitly: Good CAD corridor coverage. Competitive for South Asia and Philippines.
• Western Union: Particularly good for CAD→Jamaica and CAD→Caribbean islands — corridors where digital-only providers have less depth.
• Simplii Financial (CIBC): Simplii's International Money Transfer is competitive for CAD→INR and CAD→PHP — sometimes the cheapest option if you already bank with CIBC.
• TD Global Transfer: Similar to Simplii — good rates for TD customers sending to India, Philippines, and China.
• KOHO / Wealthsimple: Some Canadian neobanks have FX transfer capabilities; check if your existing app offers competitive rates.

• Interac e-Transfer to fund Wise: Wise accepts Interac e-Transfer funding, which is free at most Canadian banks. This eliminates card fees.
• Compare Simplii/TD vs Wise: For CAD→INR and CAD→PHP, check your existing bank's international transfer rate. Simplii and TD are surprisingly competitive.
• TFSA considerations: Your TFSA savings can be held in CAD and converted via Wise or another provider without triggering additional Canadian tax. No gift tax or transfer tax in Canada for personal remittances.
• CRA reporting: No Canadian income tax on amounts you send abroad to family. The recipient's home country may have its own rules.
• Wire vs remittance app: Big-5 bank international wires typically charge $25-45 fee plus a 2-3% rate margin. A remittance app (Wise, Remitly) will save $30-60 on a $1,000 transfer vs a bank wire.