A closer look at the best money transfer apps in Canada

Canada's multicultural and globally connected population needs reliable ways to send money across borders. Whether you’re sending money to family back home, covering overseas expenses, or managing international business transactions, the right money transfer app can make all the difference.

In this post, we’ll take a look at what money transfer apps work in Canada, how they work, and what fees they charge. We’ll explore which money transfer app is best for your needs and take a closer look at Wise for sending money to over 150 countries at the mid-market exchange rate.

Table of contents
Which app is best for international money transfers from Canada? WorldRemit Wise Western Union PayPal Remitly Sendwave Which app is the best for money transfers in Canada?

Which app is best for international money transfers from Canada?

When choosing the best money transfer app in Canada, consider which factors matter most to you. Here’s a quick look at the key factors to weigh:

• Currency Routes: Not all apps support every country or currency for transfers. Check if your app covers your destination and offers competitive exchange rates.
• Transfer Method: Apps may offer Interac e-Transfer, direct bank deposits, wire transfers, or cash pickups. Pick one that aligns with how you or your recipient prefers to send or receive money.
• Fees: Some apps charge flat fees, while others take a percentage of the amount you send. Look for apps that are transparent about costs and don’t surprise you with hidden charges.
• Exchange Rates: Watch out for unfavorable conversion rates — even small margins can add up with larger transfers. Apps like Wise use mid-market rates, saving you money.
• Speed: Need money delivered fast? Some apps offer instant transfers, while others take a few days. Balance speed with costs when making your decision.
• Transfer Limits: Check if the app has a minimum or maximum transfer amount that works for you, whether you’re sending $50 or $50,000.

Next, we’ll compare the top money transfer apps in Canada to help you decide which fits your needs.

WorldRemit

WorldRemit is a global money transfer service that allows Canadians to send funds to over 130 countries.¹ It offers multiple delivery options, including bank deposits, cash pickups, mobile money, and airtime top-ups, providing flexibility for both senders and recipients.

Transfer Methods:²

• Bank Deposit: Use a bank transfer to pay.
• Credit Card: Credit card issuers may add a fee.
• Debit Card: Paying with debit is cheaper than credit card.

Key features	Key considerations to watch out for
Multiple Payment Options: Pay using debit, credit, or prepaid cards, Apple Pay, or Interac.	Fees and Exchange Rates: Fees vary based on the destination and transfer method.
Fast Transfers: Over 90% of transactions are completed within minutes.	Transfer Limits: Maximum send amount per transaction is CAD 4,000; per 24 hours is CAD 40,000.3
User-Friendly Platform: Accessible via website and mobile app for convenient transfers.	Verification Requirements: Identity verification is required, especially for transfers of $1,000 or more.4

WorldRemit offers flexibility and speed for sending money worldwide. What are users saying about the app on trusted platforms?

Platform	Rating
Trustpilot	3.5 out of 5 stars (88,000+ user reviews)5
App Store	4.7 out of 5 stars (47,300+ user reviews)6
Play Store	4.6 out of 5 stars (213,000+ reviews)7

Note: Ratings are subject to change; please check the respective platforms for the most current information.

Wise

Wise is a global financial technology company with over 12 million users that enables Canadians to send money abroad with ease and transparency while saving up to 2X.⁸ Unlike banks, Wise uses the mid-market exchange rate without hidden markups, ensuring you get the most value for your money. While Wise does not support cash pickups, it offers various digital transfer methods to suit your needs.

Transfer Methods:⁹

• Interac e-Transfer: You can use Wise to send international Interac e-Transfers, just the way you would in Canada.
• Bank Transfer: Typically, the cheapest option for funding your transfer. While slower than card payments, it offers excellent value for money.
• Direct Debit: Also known as EFT, direct debit authorizes payments directly from your bank account for convenience, though it may take longer to process and cost more than a bank transfer.
• Debit Card: A fast and cost-effective way to pay for your transfer, generally cheaper than credit cards.
• Credit Card: Visa, Mastercard, and some Maestro cards are accepted. It’s fast but may incur higher fees due to processing costs or bank charges.
• Apple Pay: Enabled on your phone? Use it for quick and secure payments. Be mindful of potential extra charges if your bank treats it as a cash withdrawal.
• Google Pay: Similar to Apple Pay, it offers a fast and convenient way to send money. Watch out for potential additional bank charges.

Key features	Key considerations to watch out for
Fair exchange rates: Wise applies the mid-market exchange rate without hidden fees.10	No Cash Pickup: Transfers are digital only; cash pickup is not available.
Low, transparent fees: Fees are clearly displayed upfront, so you know exactly what you're paying.	Verification Requirements: Identity verification is required, which may take additional time.
Multi-Currency Accounts: Hold and manage over 40 currencies with your Wise account.	Transfer Limits: Limits may vary based on the currency and payment method used.
Fast Transfers: Over 52% of transfers are instant, arriving in under 20 seconds.11
Customer Care: Customer support is available in English via chat, email and phone call and in French via email. You can also access support in Portugese, Indonesian and Japanese via phone call, using your Wise account.

With a clear understanding of Wise's key features and considerations, let’s see how users rate their experience on trusted review platforms.

Platform	Rating
Trustpilot	4.3 out of 5 stars (241,772+ reviews)12
App Store	4.8 out of 5 stars (24,700+ reviews)13
Play Store	4.7 out of 5 stars (1.1M+ reviews)14

Note: Ratings are subject to change; please check the respective platforms for the most current information.

Wise offers a transparent and cost-effective solution for international money transfers from Canada, making it a reliable choice for those seeking efficiency and clarity in their transactions.

Western Union

Western Union is a longstanding global money transfer service that enables Canadians to send funds to over 200 countries and territories. A key advantage of Western Union is its extensive network of agent locations, allowing recipients to collect cash in person—a feature not all providers offer.

Transfer Methods:¹⁵

• Bank Account Transfer: Send money directly from your bank account.
• Credit or Debit Card Payments: Use your credit or Visa debit card to make a transfer. To avoid errors, simply scan your card using your mobile device's camera for quick setup.
• Cash Payment: Pay for transfers in person at Western Union agent locations.
• Mobile Wallet: In select countries, send funds directly to your recipient’s mobile wallet for added convenience.

Key features	Key considerations to watch out for
Extensive Global Reach: Access to over 500,000 agent locations worldwide for cash pickups.16	Fees and Exchange Rates: Western Union makes money from currency exchange; compare fees and rates as they vary by destination and transfer method.
Rapid Transfers: Cash pickups can be available within minutes.	Transfer Limits: Limits depend on the destination country, payment method, and transfer history.

With its wide range of transfer options and global reach, Western Union provides flexibility for users across Canada. Here's how it performs based on user reviews and ratings on trusted platforms.

Platform	Rating
Trustpilot	4.2 out of 5 stars (over 102,600 reviews)17
App Store	4.6 out of 5 stars (31,100+ ratings)18
Play Store	4.2 out of 5 stars (19,300+ reviews)19

Note: Ratings are subject to change; please check the respective platforms for the most current information.

Western Union's combination of a vast global network and diverse transfer methods makes it a versatile option for international money transfers from Canada. However, it's important to be aware of the potential for additional fees and to compare exchange rates to ensure the best value for your transactions.

PayPal

PayPal is a global digital payment platform popular among Canadians for sending money abroad. Known for its widespread acceptance and seamless integration with online marketplaces, it’s a convenient option for international transfers. While primarily designed for e-commerce, PayPal also supports cross-border money transfers, though fees and delivery times depend on the destination and payment method.

Transfer Methods:²⁰

• PayPal Balance: Send money instantly from your PayPal account balance. If funds are insufficient, PayPal will use your linked bank account or preferred payment method.
• Instant Transfer: Transfer funds instantly from your linked bank account. A linked credit card is also required for this option.
• Credit or Debit Card: Use a linked credit or debit card, including Visa, Mastercard, or American Express, for fast, secure payments.
• eCheck: Transfer money directly from your bank account, similar to a digital check. Processing takes up to 7 business days.

Key features	Key considerations to watch out for
Global Reach: Available in over 200 countries, with transactions supported in multiple currencies.	Fees: A fixed fee + 2.9% charge applies for personal domestic transfers using your card, with international transfers ranging from $2.99 to $4.99 + 2.9%.21
Fast Transfers: Transfers between PayPal accounts are almost instant.	Exchange Rate Markups: PayPal’s currency conversion includes a margin above the mid-market rate, making transfers more expensive than some alternatives.
Buyer and Seller Protection: Built-in protection features offer added security when shopping online.	Limited Cash Pickup: Unlike some providers, PayPal doesn’t support cash pickups—transfers are entirely digital.
Promotional Offers: PayPal occasionally runs promotional deals, including fee waivers for first-time transfers or limited-time discounts.

Platform	Rating
Trustpilot	1.3 stars out of 31,500+ ratings22
App Store	4.6 out of 5 stars with 158,000+ reviews23
Play Store	4.1 out of 5 stars with 3.33M+ reviews24

Note: Ratings are subject to change; please check the respective platforms for the most current information.

PayPal is a convenient global payment platform for international money transfers from Canada, but be prepared for fees and currency conversion charges that can increase overall costs.

Remitly

Remitly is a digital remittance service helping Canadians send money abroad quickly, securely, and affordably. With features like cash pickup, bank deposits, and mobile wallet transfers, Remitly simplifies cross-border transactions. Though it charges fees and may apply exchange rate markups, first-time users can benefit from promotional rates and waived fees on initial transfers.

Transfer Methods:²⁵

• Bank Deposit: Funds are sent directly to the recipient's bank account, offering a safe and convenient way to transfer money.
• Cash Pickup: Recipients can collect cash at designated partner locations like Bank of America, Walmart, and Kroger.
• Mobile Money: Send funds directly to a mobile wallet, ideal for recipients in countries with developing banking systems.
• Home Delivery: Money can be delivered directly to the recipient's home in select locations, though this option may take longer and involve higher fees.

Key features	Key considerations to watch out for
Global Network: Transfers available to over 150 countries, with support for 75+ currencies.26	Fees for Repeat Users: After the first transfer, fees vary by destination and delivery method.
Delivery Time Guarantee: Transfers are delivered on time, or Remitly refunds the transfer fee.	Transfer Restrictions: Sending limits are not straightforward and depend on whether your identity is verified and where the transfer is going.27
Secure Transactions: Advanced encryption ensures that your personal and financial information stays protected.	No Debit Card Option: Unlike some providers, Remitly doesn’t issue a debit card for direct spending or ATM withdrawals.

Platform	Rating
Trustpilot	4.7 out of 5 stars with 67,000+ reviews28
App Store	4.9 out of 5 stars with 494,000+ reviews29
Play Store	4.8 out of 5 stars with 947,000+ reviews 30

Note: Ratings are subject to change; please check the respective platforms for the most current information.

Canadians like Remitly for sending money abroad, though repeat transfers may incur fees and exchange rate markups. The lack of a debit card can be challenging for some.

Sendwave

Sendwave is a sister company to WorldRemit, as part of the Zepz brand.³¹ Transfers are funded by debit cards and delivered to mobile wallets, bank accounts, or for cash pickup. While there are no direct fees, exchange rate markups may apply. New users can enjoy promotional offers like free credits on their first transfer.

Transfer Methods:³²

• Mobile Wallets: Sendwave displays the available options when you input the recipient country.
• Bank Accounts: Send limits depend on the recipient’s country.
• Cards: Send funds from Visa or MasterCard debit cards, as well as PostePay cards in Italy and Correos cards in Spain.³³
• Cash Pickup: Recipients can pickup at a designated location with proof of ID and their transaction reference number.

Key features	Key considerations to watch out for
Verification: Sendwave says it takes only minutes to create an account, get verified, and start sending.34	Fees: Like a few others, Sendwave says it sometimes makes money on your currency conversions.35
Security: Sendwave encode all data in the app by using an encrypted 256-bit connection.	Cannot Fund with Credit Cards: Only Visa and Mastercard debits are accepted, with limited country-specific options.36
	Send Limits: Unlike senders in the US, UK or EU, Canadians will not have sending limits raised automatically raised when eligible and will need to contact support.37

Platform	Rating
Trustpilot	4.3 out of 5 stars with 19,900+ reviews38
App Store	4.7 out of 5 stars with 7,700 reviews39
Play Store	4.7 out of 5 stars with 100,000+ reviews 40

Note: Ratings are subject to change; please check the respective platforms for the most current information.

Sendwave offers unique features but may have limitations, including restrictive sending limits.

Which app is the best for money transfers in Canada?

Some apps excel at cash pickups, while others offer fast digital transfers or low fees for recurring transactions.

With the real mid-market exchange rate, low transparent fees, and no hidden charges, Wise ensures you keep more of your money. Its intuitive app, fast transfer speeds, and global reach make it the go-to choice for Canadians sending money abroad. Wise combines transparency, speed, and cost-effectiveness, making it a top choice for Canadians sending money abroad.

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Sources:

1. WorldRemit
2. WorldRemit- Sending money online
3. WorldRemit
4. WorldRemit - FAQ
5. Trustpilot - WorldRemit
6. App Store - WorldRemit
7. Play Store - WorldRemit
8. Wise - Price comparison research
9. Wise - Send money
10. Wise - Mid-market exchange rate
11. Wise - Update
12. TrustPilot - Wise
13. App Store - Wise
14. Play Store - Wise
15. Western Union - Money transfers
16. Western Union
17. TrustPilot - Western Union
18. App Store - Western Union
19. Play Store - Western Union
20. PayPal - Payment methods
21. PayPal - Fees
22. Trustpilot - PayPal
23. App Store - PayPal
24. Play Store - PayPal
25. Remitly
26. Remitly
27. Remitly - Sending limits
28. Trustpilot - Remitly
29. App Store - Remitly
30. Google Play - Remitly
31. Sendwave - About the company
32. Sendwave - Send money abroad
33. Sendwave
34. Sendwave - International money transfers
35. Sendwave - Terms and Conditions
36. Sendwave - FAQ
37. Sendwave
38. Trustpilot - Sendwave
39. App Store - Sendwave
40. Google Play - Sendwave

Sources verified on 18 December 2024