4 Alternatives to Cash App Canada

| September 22, 2021
✓ Verified by Vishesh Raisinghani

Is Cash App Available in Canada?

No. Right now Cash App isn’t available anywhere in Canada.

The app is only available in the US and UK and can’t be used outside these two countries.

Is Cash App Coming to Canada Soon?

Right now, Cash App doesn’t have any active plans to expand to Canada.

While that’s unfortunate, there are several alternatives to Cash App that are available to Canadians.

Best Cash App Alternatives

Wealthsimple Cash

Summary

Wealthsimple Cash is a Canadian app that serves as a mobile bank account and money transfer service.

Pros

  • Offers banking services and high interest.
  • Swift and easy money transfers within Canada.

Cons

  • Only available in Canada.
Cash App

 

Summary

Cash App is a popular mobile money transfer service available in the US and UK.

Pros

  • Basic services are all free.
  • Transfers are fast and easy to make.

Cons

  • Not available in Canada.
Wise

Summary

Wise is an international money transfer service based in the US but available in 80 countries.

Pros

  • Great for international transfers.
  • No foreign exchange markups

Cons

Wealthsimple Cash

This app from Wealthsimple allows Canadians to get high interest in hybrid chequing-savings accounts.

If you’re looking for a highly mobile account with more utility, it’s a good option for you.

Wealthsimple Cash offers unlimited domestic money transfers, all for free.

You can also make international transactions without any foreign transaction fees.

It’s easy to get started with and only requires you to deposit $1 to get started.

What’s even better is that you can use it for many other money transfer features including:

Wise

Wise is an international money transfer company that is available in Canada and 80 other countries.

It offers fairly fast transfers at some of the lowest fees available for an international transfer service.

Unlike some of the other alternatives, it isn’t free.

But it makes up for that with transparent and competitive fees, delivery in minutes, and no exchange rate markups.

If you’re looking for a Cash App alternative that is also good for international transfers, Wise is a good option.

Shakepay

Shakepay is a Canadian platform for buying, selling, and sending Bitcoin.

The platform enables you to buy Bitcoin within minutes and make E-Transfers.

It’s a crypto platform, so you can’t send Canadian Dollars directly.

But if you’re looking for a crypto-centric alternative to Cash App, this is the Canadian option.

E-Transfer

Lastly, most Canadian banks can facilitate E-Transfers.

This option is only available for Canadian domestic transfers.

However, it’s almost always free and normally takes under two hours.

Most of Canada’s largest banks, like TD, offer them for free and complete transfers almost instantly.

If you have a Canadian bank account open, then E-Transfers are a highly convenient option.

All your recipient needs is a Canadian bank account of their own and an email address or phone number connected to their account.

With their email or phone, you can set up a transfer in minutes.

What is Cash App?

Cash App is an American app that functions as a small bank account and money transfer service.

In name, it’s a peer-to-peer money transfer service, meaning it’s meant for transfers between different users with their own accounts.

However, Cash App can also be used as a bank, and they offer a debit card for users.

Cash App has become increasingly popular for its convenience.

As people slowly shift away from carrying cash for all their purchases, Cash App offers a good balance between traditional banking services and modern, digital financial services.

One major draw to Cash App is that it makes sending money to family and friends very easy.

They don’t charge any fees for their basic services, which include:

  • Sending money
  • Receiving money
  • Foreign transactions

The platform also does not have any monthly fees, inactivity fees, and any of the other sneaky fees some money transfer companies charge.

Cash App open on phone

Frequently Asked Questions

  • What is the fastest payment transfer method in Canada?
  • Why is Cash App unavailable in Canada?
  • Cash App is not available internationally and is only available in the US and UK. The company has not announced plans to move into Canada.

  • Can I use Cash App to send money from the US to Canada?
  • No. Canadians cannot use Cash App, which makes transfers from the US to Canada impossible. You can only use Cash App to send money to other users within their peer-to-peer platform.


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