When you pay by direct debit, you enter your bank information and authorise a one-time debit from your checking account to ours. You need to do this each time you pay by direct debit.
Direct debit in Canada is also known as an EFT (Electronic Funds Transfer) payment.
Here are some common questions about paying by direct debit from Canada.
How long does it take for my money to reach Wise?
It usually takes 1–2 working days for the money to leave your account, and then 3–4 working days for it to reach us.
Since it can take some time for the money to reach us, be sure you have enough money in your account while you wait for the debit.
How much can I send?
You can send up to 9,500 CAD every 24 hours (and up to 30,000 CAD every week) from personal accounts only.
Guaranteed Rate with Direct Debit
When paying for a transfer with direct debit, the guaranteed rate is secured once you have authorized the payment to Wise. For other payment methods, the guaranteed rate is secured once Wise receives the money for your transfer.
Can I pay by direct debit from my business account?
Yes, if you have a business account, you can pay via direct debit. Just make sure you are using your business bank account ─ we can not accept personal payment for business transfers.
Can I send an out of band payment?
We can’t accept out of band payments. You can only initiate a direct debit within the Wise website or app.