How to Convert Canadian Dollars and Send Money Overseas?

Last Updated: 06 Apr 2023

Need to transfer Canadian dollars to another currency? There's an easy way and a hard way, and if you want the easy way, use a specialist provider instead of your bank. 

When you exchange and transfer Canadian dollars to a foreign bank account, the ultimate goal is to do it on the cheap. That means closing the gap between what you send and how much your recipient gets.  

Luckily, the best way to convert Canadian dollars to another currency has all the virtues you need in an international money transfer service – speed, cost-effectiveness, convenience, and more.  

Here at MTFX, we focus on foreign exchange and global payments only, which adds a specialty touch to our services.  

Sign up for a personal account with MTFX to convert Canadian dollars to another currency and enjoy competitive exchange rates and low transfer fees.  

What is the Easiest Way to Convert Canadian Dollars to Foreign Currency?

For some people, their bank is a familiar option they can rely on, but it's not in their best interests because of the unnecessary fees.  

If you have been overpaying your bank all along, you can turn the tables and switch to a specialist provider that helps you save with competitive exchange rates and low transfer fees.  

Here's how a specialist provider can make life easy for you when converting Canadian dollars to another currency for personal purposes. 

  • Easy on your wallet. Get the best value for money when you exchange large amounts of currency, whether once-off or regularly. MTFX works on thin margins with high volumes, so we can significantly lower the cost of your international money transfer. 
  • Easy to sign up. You can open your online personal account with MTFX in less than five minutes. It's quick and easy, and you'll receive tailored personal assistance from a dedicated currency specialist whenever you need to speak with a real human. 
  • Easy from wherever you're. It's never been easier to convert Canadian dollars to foreign currency. Simply log into your secure online account and convert Canadian dollars to another currency anywhere, anytime. 

How to Find a Good Exchange Rate?

No matter your destination country, converting money is typically a process that requires exchange rates. For example, if the exchange rate between the Canadian dollar and the US dollar is 0.7400, it means a single Canadian dollar buys 0.7400 US cents.  

Competitive exchange rates are a game changer when converting your Canadian dollars to foreign currency. That’s because the difference between a good exchange rate and a poor one can equal hundreds or thousands of dollars.  

Although exchange rates fluctuate constantly, the fairest exchange rate is the mid-market or interbank rate, which is the real rate. This is the mid-point between the buy and sell prices of two currencies at any given time. Most banks and non-specialist providers add a 3-5% markup to the mid-market rate, which explains why exchange rates vary from service to service. 

Make sure you shop around beyond these providers and consider a specialist foreign exchange service. That's where you find the best exchange rates because specialists trade currencies in large quantities, so they can afford to offer you the mid-market rate with no hidden fees. 

How to Transfer CAD to Another Currency in Just 3 Steps?

Transferring Canadian dollars to another currency? MTFX makes it quick and easy with three simple steps. 

Step 1: Create a Free Account

Creating your personal account is simple, fast, and free. Your secure online account gives you access to some handy currency conversion tools.  

For example, you can monitor live exchange rates and use the MTFX rate calculator to check foreign exchange rates for the most popular currency pairs.  

Popular Currency Pairs


Convert to US Dollars (CAD to USD) Convert to Euros (CAD to EUR) Convert to Indian Rupees (CAD to INR) 
Convert to Mexican pesos (CAD to MXN) Convert to South African Rand (CAD to ZAR) Convert to British pounds (CAD to GBP)
Convert to Australian Dollars (CAD to AUD) Convert to New Zealand Dollars (CAD to NZD) Convert to Thai Bhat (CAD to THB)
Convert to Swedish Krona (CAD to SEK) Convert to Israeli Shekels(CAD to ILS) Convert to Japanese Yen (CAD to JPY) 
Convert to Swiss Franc (CAD to CHF) Convert to Chinese Yuan Renminbi (CAD to CNH) Convert to Singapore Dollars (CAD to SGD) 




Step 2: Book a Great Rate

With MTFX, you can convert Canadian dollars to 100+ currencies and send money worldwide via your secure online account. Add funds to your account via bank transfer or bill payment, then decide how much currency you want to buy. Next, add the required banking details, including: 

  • Beneficiary name, address, and account number 
  • Bank name, address, and Swift code 
  • Reason for transfer  

Step 3: We'll do the Rest

You can make your payment, track it online, and trust us to deliver the funds safely and on time to your recipient.

Looking to Convert Canadian Dollars to Other Currencies

How Long Does it Take to Transfer Money from Canada to Another Country?

It takes less than five minutes to create an online MTFX personal account. Once you log in, you can enjoy 24/7 currency conversions and overseas transfers.  

Your online transfer to a foreign bank account will usually arrive within 24-48 hours. Same-day transfers are almost instantaneous and handy when time is of the essence. Contrast this with banks, which may take as long as 4-6 business days to deliver cross-border payments. 

Who Uses MTFX to Transfer CAD Overseas?

Individuals in Canada can exchange and transfer their Canadian dollars with MTFX. Popular reasons to convert currency include: 

  • Paying for tuition abroad
  • Making foreign investments
  • Purchasing overseas property
  • Relocating to another country
  • Planning a destination wedding

Whatever the personal purpose for transferring Canadian dollars to foreign currency, MTFX will help you maximize every dollar you convert. 

Transfer Canadian Dollars to Foreign Currency Today

Converting your Canadian dollars to another currency with MTFX offers many layers of value addition that will have you skipping the bank every time. 

  • Is exchanging Canadian dollars to foreign currency safe? – Yes. MTFX is regulated by FINTRAC, and we have been in operation for over 25 years. So, you can rest assured your money is in safe hands.  
  • How much does MTFX cost? – We are committed to saving you money by providing bank-beating exchange rates and low transfer fees with every currency conversion. 
  • How do I transfer CAD to foreign currency? – Once you create an account, you can add funds and set up your online transfer with speed and ease. 
  • How does MTFX work? – MTFX is an online foreign exchange specialist for Canadians looking to enjoy faster, cheaper, and more transparent international money transfer services. Our main value addition comes from attractive FX costs since we work on thin margins and large transfer volumes. 

Open an account with MTFX today to transfer Canadian dollars to foreign currency at the ‘real’ exchange rate with no hidden fees. It’s quick and easy. 

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