How to Send Money from Canada to the US

If you have tried sending money to the US, you likely have faced some hurdles.

If you are a Canadian customer, there are several options available for sending money from Canada to the US.

However, selecting a money transfer service is usually not an easy task.

There are several considerations involved in this process to ensure that you are balancing both efficiency and cost-effectiveness.

In recent times, we have seen the launch of several online transfer platforms such as Wise, Remitly, and XE that each offer their own unique set of benefits.

Depending on what you value (cheapest cost, fastest speed), each of these providers may be a worthwhile option for you.

4 Steps to Send Money to the US

1. Select a Money Transfer Service

When looking to send money to the US, you have the option of using various online platforms such as Wise (previously known as Transferwise), Remitly, WorldRemit, Skrill or XE.

Alternatively, you can also use your banking provider (such as RBC, CIBC, BMO, Scotiabank, TD) to complete a wire transfer directly to your recipient’s bank account.

You can use the below widget to see what it would cost to send a money transfer using Wise along with how long it will take for funds to reach the recipient.

2. Create an Account

Provide your personal identification details, bank account details, and other relevant information that the provider requests.

3. Enter Recipient’s Details

In most cases, you will be asked basic personal information about the recipient as well as their online banking details to ensure that the money is sent to the right account.

4. Choose Funding Method and Send

You can often choose between paying via direct debit, bank transfer, debit card, and credit card with each having different fees and processing times.

At this stage, you will be able to view the exact fee structure including any administrative fees and currency conversion fees.

Key Considerations When Sending Money from Canada to USA

Below is a list of items you should keep in mind before transferring money from one country to another:

CAD/USD Exchange Rate

Current CAD/USD Exchange rate:

1 CAD = 0.728677 USD at 6:05 PM UTC on Tuesday June 18, 2024

If you are converting between Canadian and US dollars, you should monitor the exchange rate that the provider offers and compare it to the market rate to see the differential.

While some providers may offer lower administrative fees, they may take a higher cut of the foreign exchange (FX) conversion.

It is important to know this beforehand to make the best decision for yourself.


Most online transfer platforms will charge a fee for their service.

This fee may vary based on the provider, the amount of money being sent, currency, etc.

As such, it is crucial to assess the net amount that the recipient will receive in hand to understand the total fees charged by the provider.


The total turnaround time that it takes for your recipient to receive the money from the time you send it.


While this may not be a primary consideration in the way that costs and processing time would be, it is still important to know what type of customer support you can expect if there is a processing error or other barrier preventing your money from being transferred correctly.

What Currency Does the United States Use?

The US uses the American Dollar (also called the US Dollar or USD) as its official currency.

The US Dollar is widely recognized as the single most used currency in international transactions, and has even been adopted by several other countries as their primary currency.

In the US, the Federal Reserve System (“the Fed”) is the official central bank of the nation that controls all aspects of monetary policy including the money supply.

As of August 2022, there was $2.275 trillion in money supply (i.e., the notes and coins in circulation) within the US economy.

Besides governing total money supply, the Fed also sets and adjusts interest rates in the economy to moderate inflation rates.

Sending Money From Canada to USA on Laptop Using Transferwise

Frequently Asked Questions

  • Is it safe to send money from Canada to the USA online?
  • How long does it take to send money from Canada to the US?
  • Can I send money from Canada to US for free?
  • Can you send money from Canada to USA through a bank?
Harshil Dhanky

Harshil Dhanky is a financial services professional based out of Toronto, Ontario with extensive experience in the Canadian banking industry across Toronto, Calgary, and Vancouver in the capital markets, asset management, and lending sectors.

In the past, Harshil has worked with a range of consumer lending websites, personal finance advisors, investment managers, insurance companies, and other financial institutions to write and edit whitepapers, articles, blog posts, and other collateral read by consumer audiences to help them make better financial decisions.

His work spans a wide range of Canadian personal finance topics including savings and retirement programs, debt management tips, mortgages and personal loans, and other key financial issues for Canadian consumers at each stage of their life.