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Transfers to and from Canada

Here you'll find everything you need to know about sending to and from Canadian Dollars (CAD). 

To get started with your first transfer, click here

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Sending to CAD
Basic Information   Notes
TransferWise Fee 0.5% When sending from currencies with a different fee, the higher charge applies
Delivery time* 1-3 working days *After payout. Please keep in mind that TransferWise can take up to two working days to convert your funds from receiving the deposit
Maximum amount (per transfer) 170,000 CAD  
Countries we can send to Canada only  
Additional Receiving Banking Fees None  
Required Details    
Recipient Full Name Yes Please include first name and surname. There is a 35 character limit. Please use only standard Latin letters (a-z)
Recipient Transit and Account Number Yes Transit number should be 5 digits and local account number should be a minimum of 7 digits (without spaces)
Recipient Institution Number Yes Institution number should be 3 digits
Fixed/specific amount Yes The currency you're sending from must also be able to send fixed
amounts - more information here
When you transfer from USD, your exchange rate is locked in, meaning your recipient can receive a specific amount. Find out more here
Reference sent
with payment
Via email only Reference is not sent along with the bank transfer, but is sent to the recipient in their confirmation email. Please be sure to enter the recipient's email address correctly when creating the payment to ensure this is received.


Sending from CAD

Basic Information   Notes
TransferWise fee $3 up to $350, 1% for amounts from $351-$9,500, and 0.7% on any amount above the initial $9,500 For transfers to GBP - Flat fee remains the same, on amounts from $351-$9,500 fee is 0.85%, and on the amount above the initial $9,500 the fee is 0.6%. When sending currencies with a higher fee, the higher fee always prevails as seen here
To see additional fees when paying by credit or debit card, please click here.
Time for deposit to reach TransferWise* 1-5 working days* Depending on pay in method. Direct debits arrive to us within 4-5 working days, local bank transfers normally arrive within 1 working day.
Maximum amount for Direct Debit 9,500 CAD per 24 hours There is also a bi-weekly limit of 30,000 CAD for direct debit transfers. You can transfer larger amounts by local wire transfer.
Maximum amount for card 3,000 CAD per transfer Debit cards carry an additional fee of 1.15%, and credit cards carry a fee of 2%
Maximum amount for local wire transfer 1,500,000 CAD per transfer  
How to send money Direct Debit, Local wire transfer, Debit/Credit card  
Required Details    
Sender occupation Yes If your profile address is based in Canada we will ask for your occupation, which can be selected in a drop-down menu.
ID verification Yes When you make transfers from Canada in CAD, we might ask you to upload a certified ID copy. This should be a legible photocopy of your ID document including a signed certification by a guarantor.
Fixed/specific amount payments No  
Locked exchange rate No  
Credit and Debit card payments Yes Additional fees for the use of debit card or credit card can be found here.
Business payments Yes* Direct debit cannot be used to pay in money from a business bank account. To make a business transfer, please pay in your money by local bank transfer. 
Transfers to an email address Yes Except when transferring to INR and UAH. For more information, please click here


CAD Refunds

If you cancel your transfer from CAD after your money has already arrived to TransferWise, but before it has been paid out to your recipient, we can simply refund you in full. See what we need to complete the refund for each pay in method. 

Direct Debit Transfer

Direct Debit refunds are automatic, so we do not require any details from you. As soon as your money arrives to us, we can simply send it back to the account it came from. 

Once sent, the money will arrive back in your account within 1-2 working days. 

Local bank transfer

If you cancel your transfer after you've sent money to us via bank transfer, we require the following details to send this back to you:

- Account holder name
- Institution number
- Transit number
- Account number

Once sent, it will take 3 working days for the money to arrive back in your account.

Credit or Debit card

Card payment refunds are automatic. Once you cancel a payment, your money will be sent back to the card you paid from. You can read about how long these take here.

Additional note

When sending to CAD from AUD (Australian Dollars), we need your recipient's address to complete the transfer.

TransferWise Canada Inc. is registered in Canada with the Financial Transactions Reports Analysis Centre of Canada ("FINTRAC"). FINTRAC registration number M15193392, registered as a money service business and able to provide foreign exchange dealings and money transfer services to customers resident in Canada.

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