Is Venmo unavailable in Canada? Here are some alternatives

Piyush Singh

Venmo has become one of the most popular ways to send and receive money quickly and easily, which has many Canadians wondering, “Is Venmo in Canada?”. Unfortunately, Venmo is not available in Canada. Thankfully, there are several alternatives that you can use instead.

In this article, we'll look at Venmo alternatives like Wise - a platform designed to provide an enhanced experience for sending and receiving money locally and globally.


Venmo Isn’t Available In Canada

Venmo is only available for users in the United States. But why isn’t Venmo in Canada?

The requirements for using Venmo include¹:

  • Being physically located in the US
  • Owning a US-based mobile phone

These criteria make it impossible to use the Venmo app in Canada.

However, Venmo’s parent company is PayPal, which has a strong presence in Canada.

Is Paypal The Best Alternative To Venmo?

Key Features of PayPal²
200+ countries
25 currencies
Exchange rate: Mid-market + 3-4%
Fees for international transfers: Starting at 2.99 CAD
Inactivity fee: 20 CAD
Fixed fee for receiving personal transactions

While PayPal is a viable alternative, it may not be the best. There’s probably a wiser solution out there.

Meet Wise: Your Go-To International Transfer Method

Wise is a money transfer service available in Canada with a global mindset. It addresses all the needs that Venmo caters to in the US while working harder at points where PayPal falls short. For example, Wise’s exchange rate is at the mid-market rate, which helps you to preserve more of your money. Here’s how much it would cost you to send money to the US:

The true cost of sending CAD to USD

On top of that, Wise’s pricing is completely transparent so you know what you’re paying for up front. It offers features that are free or low-cost to you, like the Wise card, business accounts, and mass payments. It even has the possibility of international Interac e-transfers to make it easier than ever to send money between accounts.

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

Alternatives To Venmo In Canada

If you’d like to keep exploring Venmo alternatives beyond Wise, here are a few more apps like Venmo in Canada that you can look into.

Interac e-Transfer

One of the leading options in account-to-account transfers, Interac makes money transfers as easy as sending an email or a text message. Here are the key points to consider before you choose Interac e-Transfers:

Key Features⁴
Requires an account with the National Bank for international payments
Funds sent directly to the recipient’s bank account
Can be used online or on a mobile banking app
Trusted financial service brand
Keeps your activity secure
International payments are sometimes in USD only⁵

It’s important to note that if you do not have an account with the National Bank, international e-transfers are made through Western Union, which charges a markup rate.

Simplii Financial

A digital banking divison of CIBC, Simplii offers a vast coverage when it comes to international transfers. Here are the fees and exchange rates to watch out for:

Key Features & Fees⁶
Foreign Currency Conversion: Conversion rate + 2.5%
Overlimit Fee: $29
Cash Advance Fee: $5 per advance
Dishonoured Payment, Convenience Cheque or Balance Transfer fee: $45 each
Interest-free Grace Period of 21 days after statement date
No annual fees


A specialist in transfers for businesses, Verto claim to offer fee-free transfers while making money from the mark-ups added to exchange rates on international transfers. Here are the key points to consder if you choose Verto:

Key Features & Fees⁷
“Free transactions” for pay-outs and pay-ins
Currency Exchange: Mid-market rate + 0.5%
Live chat and support
Fees are subject to change


Skrill offers virtual wallets and provides use-based features, meaning that the more you use Skrill, the more features are available to you9. Here are some of the other points relevant to Canadians on Skrill:

Key Features & Fees⁸
International transfer by credit card: Up to 2.99%
Deposit through global payment methods: 2.5% fee
Free international and local bank transfers (not including currency conversion)
International transfer exchange rate markup: Up to 4.99%
Multi-currency account limited to VIP users


There are plenty of Venmo alternatives that can be used in Canada. While most of these alternatives can be used instead of Venmo, you might want to consider the fees and costs associated with domestic and international transfers. To make the most of your transfers, you might want to give Wise a spin!

Discover Wise


  1. Venmo
  2. PayPal - Consumer fees
  3. Wise
  4. Interac
  5. Western Union
  6. Simplii
  7. Verto Help Center
  8. Skrill
  9. Skrill VIP features

Sources verified on 15 November 2023

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.

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