Your guide to International Money Orders in Canada

An international money order is a secure method for sending funds overseas, used by individuals and businesses in Canada. By getting an international money order, you can safely send money to recipients in select countries without the need for a bank account.

In this article, we’ll explore the ins and outs of international money orders and introduce you to Wise, a popular money transfer alternative that allows you to make domestic and international transfers at a mid-market rate, without any hidden fees.

Discover Wise

Table of Contents
How to make an international money order in Canada Key features of international money orders in Canada How to receive an international money order in Canada Frequently asked questions about international money orders

How to make an international money order in Canada

Making an international money order isn’t complicated - you can get your money from A to B in just a few simple steps.

1. Find a provider: Not all banks and financial services offer international money orders, so you'll want to do a little research to find one that does. You can also check out Canada Post¹ or MoneyGram², as they're known for providing money order services.
2. Gather required information: You'll need some essential details to complete the money order, such as the recipient's full name, address, and in some cases, their bank account number. Make sure you have this info handy!
3. Visit the provider: Head over to your chosen bank or financial service provider to fill out the money order form. Be prepared to show identification and provide the necessary details about the recipient.
4. Pay the amount and fees: You'll need to pay the full amount you want to send, plus any extra fees.
5. Keep your receipt: After you've completed the transaction, be sure to hold onto your receipt. It will have the money order number on it, which is important for tracking the money order and confirming it has been sent.
6. Send the money order: Once you have the completed money order, you can mail it to the recipient using a trusted shipping service. Consider opting for tracking and insurance to ensure that your money order reaches its destination safely.

Where to make an international money order in Canada

In Canada, various providers offer international money order services. Some of the most popular options include:

• Canada Post/MoneyGram: As the country's primary postal service, Canada Post, along with MoneyGram, allows customers to purchase international money orders and send money abroad.
• Banks: Some Canadian banks provide international money order services for their customers, like Bank of Montreal (BMO)³, for example.
• Credit Unions: Local credit unions may also provide international money order services.
• Money Mart: A financial service provider with numerous locations across Canada, Money Mart offers international money order services in collaboration with Western Union.

Meet Wise - Send money abroad conveniently

Wise is a popular alternative to money orders as a more modern and user-friendly approach to sending money internationally. With the Wise Account, businesses and individuals can

• Hold 40+ currencies and
• Receive money in 10 currencies.
• They can also send their money to 80+ countries.

Wise has an intuitive online platform and mobile app, making it easy to manage and track your transactions. Their transparent pricing structure, fast transfer times, and excellent customer support make Wise an attractive choice for anyone looking to send funds across borders with ease and confidence.

Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up to date pricing and fee information.

Key features of international money orders in Canada

Here are some key features to consider when using international money orders in Canada.

• Security: International money orders are considered a secure way to transfer money, as they require the recipient's signature upon receipt and can be tracked.
• Availability: International money orders can be purchased from several providers, including Canada Post, banks and credit unions.
• Fees: The fees associated with international money orders can vary depending on the provider and the amount being sent. They can range from 7.50 CAD to 9.95 CAD.³
• Currency conversion: When sending an international money order, the funds are usually converted into the recipient's local currency, which might involve extra conversion fees.
• Delivery time: The delivery time for international money orders considers the destination country and the provider's processing times. It can take anywhere from a few days to several weeks.

Pros	Cons
Secure way to send money	Fees can be higher compared to other methods
Widely accepted in many countries	Slower delivery times
No need for the sender or recipient to have a bank account	Currency conversion fees may apply
Can be tracked using the money order number	Limited availability at some financial institutions
Paid for in advance, so it can’t bounce like a cheque	May be limited to a maximum send amount (typically 999.99 CAD)¹

How to receive an international money order in Canada

If you’re the one expecting an international money order, here’s how you can receive and cash one out:

1. Verify the details: When you receive the money order, check that all the information is correct, including your full name, address, and the amount to be paid.
2. Endorse the money order: To cash or deposit the money order, you'll need to endorse it by signing the back where indicated.
3. Visit your bank or financial institution: Take the endorsed money order to your bank, credit union, or a financial service provider like Money Mart. Remember to bring a valid government-issued photo ID for verification purposes.
4. Cash or deposit: You can choose to cash or deposit the money order into your bank account. Note that some financial institutions might place a hold on the funds, especially if it's a large amount.

Frequently asked questions about international money orders

Check out these popular questions about international money orders you might want answers to:

How do you track an international money order?

To track an international money order, use the unique tracking number or reference number provided on your receipt. Contact the issuing institution, such as Canada Post or Money Mart, and provide the tracking number to get updates on the money order's status. Most places let you input the number online and track it there.

Can you get a USD money order in Canada?

You can get a USD money order in Canada. Since USD is a widely used and common currency, many Canadian financial institutions, including banks, credit unions, and Canada Post, offer money orders in US dollars. However, these places might have their own exchange rates. To benefit from the mid-market rate, you might want to check out Wise.

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Sources:

1. Canada Post
2. BMO money orders
3. Fees

Sources last checked on: 30 May 2023