Send Money Canada to USA: Cheapest Methods (2026)

Sending money from Canada to the United States sounds like it should be simple — they're literally next-door neighbours, the two countries share the world's largest trading relationship, and half of Canadians have some kind of financial connection south of the border. And yet, actually moving money across that border efficiently is something Canadians routinely overpay for.

Whether you're paying a US landlord, sending money to a family member, paying a US contractor, or funding a US bank account for a winter trip, the method you choose for that transfer determines how much of your money actually arrives versus how much disappears in fees and spread markups.

In 2026, Canadians have more options than ever. I've ranked six of them — from cheapest and most practical to most expensive — so you can pick the right one for your situation without having to test them all yourself.

First: Why "Sending Money" and "Converting Currency" Are the Same Problem

Before we get into the rankings, it's worth clarifying something that confuses a lot of people. When you send money from Canada to the US, two things have to happen: the money has to move from your Canadian account to a US destination, and the currency has to convert from CAD to USD (unless you're already sending from a USD balance). The cost of the transfer is the sum of both the conversion cost (exchange rate spread) and any explicit transfer fee.

The reason this matters: some services advertise "no transfer fee" but make their money on a terrible exchange rate. Other services charge a transparent fee but give you a great rate. The only way to compare them fairly is to look at the total USD the recipient actually receives for a given amount of CAD you start with. That's what I'll show throughout this article.

The 6 Methods Ranked: Cheapest to Most Expensive

#1: Wise — Best Overall for Canadians Sending to the US

Wise wins this ranking for most Canadians in most situations. Here's the core value proposition: Wise uses the real mid-market exchange rate (not a marked-up version of it) and charges a transparent fee of approximately 0.5% of the transfer amount plus a small fixed fee. That's it. No wire fees, no recipient fees, no hidden deductions on the other end.

What it looks like in practice for common Canada-to-US transfer amounts:

• $500 CAD sent to a US bank account: Fee ~$3.70 CAD; recipient receives ~$355 USD. Estimated delivery: same day to next business day.
• $2,000 CAD sent to a US bank account: Fee ~$10.50 CAD; recipient receives ~$1,424 USD. Estimated delivery: same day.
• $10,000 CAD sent to a US bank account: Fee ~$46 CAD; recipient receives ~$7,157 USD. Estimated delivery: same day or next business day.
• $30,000 CAD sent to a US bank account: Fee ~$135 CAD; recipient receives ~$21,483 USD. Estimated delivery: 1–2 business days.

The recipient gets a direct deposit into their regular US checking or savings account — no account required on their end with Wise. You fund the transfer from your Canadian bank via Interac e-Transfer (fastest) or bank debit (PAD).

If you're doing this regularly — paying a US contractor, a US property, or supporting family across the border — Wise also lets you save recipient details so future transfers take about 30 seconds to set up.

#2: OFX — Best for Large Transfers ($5,000+)

OFX is a specialist currency transfer service with offices in Canada that competes on the same grounds as Wise — no flat transfer fee, better exchange rate than banks. Their rates are typically 0.7–1.2% above mid-market, which places them between Wise and Canadian banks.

Where OFX has an edge over Wise:

• For transfers over $50,000 CAD, OFX's negotiated rates can be very competitive.
• OFX offers forward contracts — lock in today's exchange rate for a transfer you're making in the future. Extremely useful if you're worried about CAD weakening before a large transfer date.
• OFX has 24/7 phone support with live FX dealers if you want human guidance on a large transaction.

For most everyday transfers under $5,000, Wise is cheaper. For large one-time transfers where rate certainty matters, get quotes from both and compare.

#3: Canadian Bank Wire Transfer — Expensive But Universal

All major Canadian banks (RBC, TD, BMO, Scotiabank, CIBC) offer international wire transfers. You can send CAD or USD from your Canadian bank account to a US bank account. What you cannot do cheaply is the currency conversion.

Here's the full cost breakdown for a typical bank wire from Canada to the US:

• Exchange rate spread: 2.5–3.5% over mid-market (the big one)
• Outgoing wire fee: $13.50–$35 CAD depending on the bank and whether it's online vs. branch
• Intermediary bank fee: US banks sometimes deduct $10–$30 USD from wire transfers in transit — this is separate from your Canadian bank's fee and isn't always predictable
• Receiving bank fee: Some US banks charge $10–$20 to receive an incoming international wire

On a $10,000 CAD transfer, total costs could reach $380–$550 CAD equivalent when you stack all of these together. Versus Wise at about $46 CAD.

Bank wires are still useful when: the recipient requires a formal bank wire for business or legal purposes, you're dealing with a very large amount and want the transaction on your bank's record, or you need a same-day transaction and have a banking relationship that enables expedited processing.

#4: PayPal — Convenient, But One of the Most Expensive Options

PayPal is convenient precisely because so many people have accounts, and that convenience comes at a steep price in foreign exchange. PayPal applies a 3% markup on the exchange rate for currency conversions, which is worse than most Canadian banks. Add in any transaction fees depending on how the payment is categorized (friends and family vs. goods and services), and you can easily be looking at 4–5% total cost on a Canada-to-US transfer.

On $2,000 CAD, the difference between Wise and PayPal is roughly $60–80 CAD. On $10,000 CAD, it's $260–350 CAD. PayPal isn't worth it for transfers unless the recipient genuinely has no other way to receive money.

For a full breakdown of exactly what PayPal charges, see our PayPal CAD to USD fees in Canada article.

#5: Cryptocurrency — Theoretically Cheap, Practically Complicated

A brief mention is warranted here because it comes up in every money transfer discussion. Yes, you can send USDC or other stablecoins from a Canadian crypto wallet to a US recipient and they receive dollar-equivalent value with minimal transfer fees. And yes, for technically savvy users, this can be genuinely cheap.

The problems for most Canadians:

• On-ramp and off-ramp costs: Buying crypto on a Canadian exchange (Coinbase, Kraken, Newton) and then converting back to USD in the US both carry fees and spreads. The on-ramp spread alone can be 1–2%.
• Volatility risk: Unless you're using stablecoins specifically, crypto prices can move significantly during transit.
• Recipient friction: Your US recipient needs a crypto wallet, needs to know how to use it, and needs a way to convert to actual USD in their bank account.
• Tax implications: In Canada, converting CAD to crypto and then spending/sending that crypto is a taxable event per CRA rules.

For most Canadians sending money to family or paying US businesses, the practical overhead of crypto far outweighs any fee savings versus Wise. It's worth considering for technically comfortable users with high-volume needs and crypto-native recipients. Otherwise, use Wise.

#6: Interac e-Transfer — Doesn't Work for Canada-to-US Transfers

This one comes up constantly in Canadian personal finance forums: "Can I just Interac e-Transfer to a US account?" The answer is no. Interac e-Transfer is a domestic Canadian payment system. It works between Canadian bank accounts only. You cannot Interac e-Transfer money to a US bank account.

Interac is, however, the best way to fund your Wise transfer — it's the fastest payment method Wise accepts from Canada. So while you can't e-Transfer to the US directly, you can: e-Transfer to Wise (to fund your transfer) → Wise converts and delivers USD to the US bank account within hours. That's effectively the best available route for same-day Canada-to-US transfers.

Speed Comparison Table: Canada to USA Money Transfers in 2026

Mid-market rate assumed: 1 CAD = 0.718 USD. All figures approximate. Bank wire includes typical spread plus $25 CAD wire fee.

Step-by-Step: How to Send $5,000 CAD to a US Bank Account Using Wise

1. Create a free Wise account at Wise.com or via the mobile app. Verify your identity (takes 5–10 minutes).
2. Click "Send money" and select CAD as the source, USD as the destination. Enter $5,000.
3. Review the quote: Wise will show you the exact exchange rate, the fee (~$24 CAD), the USD the recipient receives (~$3,565), and estimated delivery time. No surprises.
4. Add your recipient: Enter the US bank's routing number and account number. If sending to yourself, use your own US account details. Wise saves recipients for future use.
5. Choose payment method: Select Interac e-Transfer for fastest delivery. Wise will give you an email address to send the e-Transfer to. Alternatively, select bank debit (slower but also works for large amounts).
6. Confirm and track: Wise sends email updates at each stage. Most transfers arrive within the same business day when funded via Interac.

It really is that straightforward. Once set up, future transfers to the same recipient take under two minutes.

Special Situations Worth Knowing About

Sending Money to Family in the US

Wise is ideal for this — low fees, no recipient account required with Wise, direct deposit to any US checking account. The recipient just receives a direct deposit; they don't need to know or do anything with Wise themselves.

Paying a US Landlord or Property Manager

Many Canadians with US vacation properties pay US-based property managers monthly. Wise is perfect for recurring payments like this — set up the recipient once, and each subsequent transfer takes seconds. For a detailed look at how snowbirds should handle large CAD to USD conversions for US property costs, read our CAD to USD snowbird guide.

Paying US Freelancers or Contractors

If you're a Canadian business or individual paying US contractors, Wise works well. For business volumes, look at Wise Business (separate from personal Wise) which offers batch payment features and slightly different fee structures for higher volumes.

Transferring to Your Own US Bank Account

One of the most popular use cases: funding your own US checking account (Bank of America, Chase, Wells Fargo, etc.) from your Canadian account. This works seamlessly with Wise. You add your own US account as the recipient and send. It's indistinguishable from a domestic direct deposit from the US bank's perspective — it just shows up as a regular incoming transfer.

Frequently Asked Questions