If you make a transfer from Canadian dollars (CAD) using direct debit, TransferWise will debit the money from your account automatically. It's a cheap but slower way to pay for a transfer — it usually takes 1–2 business days for the money to leave your account, and then 3–4 business days for it to reach TransferWise. Make sure you have enough money in your account when you make a transfer, otherwise it won't work.
You can pay up to 9,500 CAD per 24 hours (and there's a biweekly limit of 30,000 CAD) from personal accounts only.
Once you've set up your transfer and chosen direct debit as a payment method, all you need to do is click on the bank login tab, enter your bank details (institution number, transit number, account number and account type), then login to your online banking. This will then set up a one-time debit from your account to ours, meaning that you'll need to re-enter these login details every time you make a payment by direct debit.
At TransferWise we take security extremely seriously. Your login details are not saved and can't be seen by anyone at TransferWise — they're only used to verify your account with your bank.
Please make sure you know and trust the person you're sending money to. TransferWise can't get involved in disputes between senders and recipients, and once your transfer is completed, it can't be cancelled.
Below is a list of banks in Canada that we currently support.