International Transfers
Sending money abroad from Canada involves more than just an e‑Transfer. Bank wire transfers, international money orders and third‑party services differ in fees, exchange rates and delivery times. Use this hub to compare options and learn best practices.
Transfer Options
- Bank wire transfer: Secure and traceable, but fees are higher and delivery takes 1–5 days.
- Global money transfer: Offered by some banks; lower fees and faster delivery, but limited countries.
- Third‑party service: Companies like Wise and Western Union; competitive rates and rapid delivery.
- Foreign draft or money order: Good for large sums; recipient deposits it in their bank abroad.
Comparison of Services
| Provider | Fee | Delivery Time | Notes |
|---|---|---|---|
| RBC Wire Transfer | $15–$45 | 1–3 business days | Exchange rate mark‑up applies. |
| TD Global Transfer | $0–$10 | Same day–2 days | Available to select countries. |
| Wise | ~1% of amount | Same day–2 days | Mid‑market exchange rates and transparent fees. |
| Western Union | Varies | Minutes–2 days | Cash pickup available in many countries. |
| Scotiabank Scotia International Money Transfer | $1.99–$6.99 | 1–2 days | Limited currencies; low flat fee. |
Fees may vary based on account type, destination country and currency. Always review the exchange rate and total cost before sending.
Frequently Asked Questions
Can I use Interac e‑Transfer to send money abroad?
No. Interac e‑Transfer only works within Canada.
Which method is cheapest?
Third‑party services often have the lowest fees and competitive exchange rates, but ensure you use reputable providers.
How long does a wire transfer take?
Typically 1–5 business days depending on the banks involved and the destination country.
Is it safe to transfer money internationally online?
Yes, when using established banks or regulated money transfer services with secure websites and two‑factor authentication.
Are there limits on international transfers?
Yes. Banks have per‑transaction and daily limits. Additional documentation may be required for large transfers.