Personal Finance

Is Revolut not working in Canada? : Here are some alternatives

Piyush Singh

06.02.24

Read time 3 minutes

Revolut® is no longer available in Canada.¹ If you’re a Canadian resident, you’ll need to choose an alternative platform to send and receive your money. In this article, we’ll take a closer look at some alternatives to Revolut in Canada, including Western Union® and Simplii Global Money Transfer®.

We’ll also take a look at how you can use Wise as a Revolut equivalent in Canada. Send your money to 80 countries – all from one account!

Table of contents
Alternatives to Revolut in Canada Western Union Wise Simplii Financial Global Money Transfer Skrill PayPal

Alternatives to Revolut in Canada

Revolut is a digital banking app that lets users hold and send money in multiple currencies. You can use a digital or physical Revolut card to make payments across the world.

Although it’s not possible to use Revolut in Canada, there are lots of great alternatives for sending and receiving money in multiple currencies.

Let’s take a look at the alternatives to Revolut in Canada.

Western Union

Facilitating international money transfers for over 145 years, Western Union is a popular choice for Canadians.² You can send money to over 200 countries, with options to transfer money in person or online.

Unlike other money transfer services, you can use Western Union to send cash within Canada or across the globe.³

Let’s take a look at a few key pros and cons of Western Union.

Pros	Cons
Multiple ways to send and receive your money, including cash pickup	Western Union earns a revenue from the difference in exchange rate at which they buy foreign currencies vs the rate at which it’s sold to you⁵
Convenient tracking options for your transfer³	International Western Union transfers typically take 1 to 5 business days⁴
More than 500,000 Western Union agent locations³
Domestic transfers typically take 24 hours⁴

Learn more about sending a transfer with Western Union in our full guide to Western Union Canada.

Wise

You can use Wise to send and receive payments in multiple currencies – all in just one account.

Whether you’re sending money to family or paying a client, Wise uses the same mid-market rate for all international transactions. This is the standard exchange rate – and you’ll never pay any hidden fees with Wise.

Use Wise as an individual or a business for your international transactions – including invoicing options, batch payments, and easy integration with software like QuickBooks® or Xero®.

Let’s take a look at the pros and cons of using Wise in Canada.

Pros	Cons
No exchange rate markup on foreign transfers	It’s not possible to trade in cryptocurrencies with Wise
Send money to 80 countries and receive money in 9 currencies with local account details	You can’t pay by draft payment, cash, or check in Canadian dollars
Hold money in over 40 currencies
Use your Wise card to spend money in over 150 countries

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

Simplii Financial Global Money Transfer

Simplii Financial Global Money Transfer is a common Revolut equivalent in Canada. You can use your Simplii account to send up to 75,000 CAD to over 130 countries around the world.

You can also send money from your CAD account to a country’s local currency or USD with Simplii. This is helpful if you regularly conduct transactions across the border.⁶

There are a few pros and cons of Simplii Financial Global Money Transfer for Canadian customers.

Pros	Cons
Access special offers for your first international transfer⁶	Simplii doesn’t offer international wire transfers
Open a range of different accounts, including USD or student accounts⁶	There are different transfer limits for different countries. For example, you can only send up to 3000 CAD to China⁶
Multiple ways to transfer your money, including Alipay®, debit and credit card, and cash pickup⁶	Transfers can take up to 3 business days to arrive with your recipient⁷
No transfer fees⁶	2.5 % markup over the mid market exchange rate for currency conversion¹⁸

Skrill

Skrill® is a popular choice for Canadians looking to send and receive money online. You can use your Skrill digital wallet to manage money in over 40 currencies or send funds to a bank account overseas, with options for businesses and individuals.⁸

Let’s take a look at the pros and cons of Skrill in Canada.

Pros	Cons
No transfer fees⁹	Your fees may depend on your Skrill customer level. For example, VIP Skrillers get higher limits and lower fees than regular Skrill members¹⁰
Skrill Business offers advanced payment solutions, enhanced fraud management, and easy integration options⁸	Only VIP Skrillers can access multiple currency accounts¹⁰
Multiple transfer methods, including Skrill digital wallet or bank transfer⁹	Skrill transfers can take up to 72 hours to arrive with your recipient⁹
	Skrill charges a 3.99% markup on any currency conversions¹⁷

Learn more about opening your Skrill account with our guide to using Skrill in Canada.

PayPal

PayPal® is a popular global money transfer service, with multiple ways to use PayPal in Canada. You can send money to family and friends overseas or accept payments from your customers through PayPal.

There are a few pros and cons of PayPal Canada. Let’s take a look.

Pros	Cons
Make fast payments – PayPal to PayPal transfers are typically instantaneous¹¹	High currency conversion fees: 4.00% minimum rate for conversions in CAD¹⁴
Access a range of helpful features with PayPal Business, including invoices and QR codes¹²	You need a PayPal account to receive money¹⁵
Multiple payment options, such as touch-free, bank transfers, and PayPal wallet payments¹³	Rated 1.3 on Trustpilot® Canada¹⁶

To start sending and spending your money across the globe, check out Wise.

Get started with Wise today 🚀

Sources

Sources verified on: 24 January 2024

*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.

This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.

We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.