How to Send Money to the US from Canada?

Last Updated: 14 Oct 2023
New York, United States


There are several ways to transfer money from Canada to the USA. The best option comes with affordable rates and lower transfer fees.

Whether your business requires purchases of goods, services, or any other financial transactions, finding an affordable and convenient method for sending money to the United States is crucial. This is where experts in foreign exchange and global payments, such as MTFX, can play a pivotal role.

In contrast to traditional banks, which often impose high rates and fees, MTFX offers a more cost-effective solution that can positively impact your business's financial performance. 

How to transfer money from Canada to the USA?

The two most common approaches for sending money from Canada to the USA include an online money transfer service or relying on a traditional bank. Below, you'll find a step-by-step procedure for executing a money transfer from Canada to the USA:

Choose your method: If you are looking for a quick and easy way to transfer funds, then an online money transfer service may be the best option. However, if you prefer the conventional approach and do not need your funds immediately, then it may be best to use your bank or pre-paid card instead.

Gather the necessary information: Depending on which method you have chosen, you will need certain pieces of information to complete the transaction. For example, if using an online money transfer service or bank, you will need the recipient’s bank details and contact information.

Initiate the transfer: Once all of the required information has been provided, initiate the transfer and wait for it to be completed (this could take anywhere between one day to one week depending on which method you choose).

Track your transfer: Once you've initiated the transfer, it's essential to monitor its progress to confirm its arrival in the destination country. This tracking process is typically available through most online services and can also be facilitated by your bank.

What is the best way to send money to the United States?

When sending funds to the USA or any other destination, minimizing the difference between what you send and what your beneficiary receives is important.

Unfortunately, relying on banks or traditional financial institutions to transfer funds can result in unfavorable exchange rates and hefty international bank transfer fees, making the process far from cost-effective.

The great news is that with MTFX, you have an easy and cost-efficient method to send money from Canada to the USA.

It has never been more straightforward. With a swift sign-up process, competitive currency rates, rapid transfers, and cutting-edge technology to ensure seamless transactions, you can now bypass the costly transfer fees imposed by banks. Additionally, you'll receive personalized guidance to facilitate the secure and efficient movement of your funds to the intended destination.

What is a good USD/CAD exchange rate?

You can save thousands of dollars on international money transfers if you know how to get the best exchange rates

Knowing where to find the best place to exchange money is key to doing business globally. You have two main options when it comes to exchanging currency: your bank or a foreign exchange (FX) specialist, like MTFX.

While your bank may seem like an obvious place to start, they don’t always offer the best exchange rates available for USD/CAD and can charge transfer fees of up to CAD 150.00 per transaction, which quickly adds up if you need to make transfers often. In contrast, MTFX takes pride in its commitment to personalized service and the cultivation of robust client relationships. Our company is dedicated to providing favorable exchange rates and minimal transfer fees, empowering clients to maximize the worth of their international transactions.
 

Looking to send money to the US?

 

Who can use MTFX to send money to the United States? 

Both companies and individuals can use MTFX to transfer money to the USA.

Why do individuals send money to the USA from Canada?

Individuals typically send money to  the USA from Canada for the following reasons:

  • Making purchases in the USA.
  • Buying homes or businesses.
  • Investing in the USA.
  • Relocating to the USA.

Why do companies send money to the USA from Canada?

Companies typically send money to the USA from Canada for the following reasons:

  • Making supplier payments in the USA.
  • Purchasing goods and services in the USA.
  • Settling financial transactions in the USA.
  • Investing in the USA.

What bank details are needed to transfer money to the USA? 

When sending money to the USA from Canada, you will need: 

  • Beneficiary's name
  • Beneficiary's address
  • Beneficiary's account number
  • Bank's name
  • Bank's Swift code
  • Bank's address
  • Reason(s) for transfer

Can I set up a regular money transfer to the USA?

Once you have a registered MTFX business account, you can initiate scheduled money transfers to the United States. Our MTFX platform harnesses the power of automation technology to simplify your payments, providing accessibility from anywhere at any time while ensuring secure and swift transaction processing.

Send money to the USA today

Whatever your reason for transferring money from Canada to the USA, choosing MTFX can result in significant savings.

How efficient is it? Turnaround is swift, allowing you to set up US dollar transfers for various purposes such as supplier payments, purchasing goods, property acquisitions, monthly mortgage payments, and US dollar tuition fees for students in the United States.

What assistance is provided? You'll also receive free expert guidance from a dedicated account manager throughout the process.

How secure is it? Our online platform ensures 24/7 security, providing peace of mind whenever you need to send payments.

Register with MTFX online today for your business account. Start sending money to the United States at the cheapest exchange rates with the highest convenience.

Send money to the US - FAQs

How can I send money from Canada to the USA?

Sending money from Canada to the United States has gotten easier in recent years. Here's a look at some of the most popular ways to send money to the USA from Canada.

  • Using a bank transfer is a traditional option, although they typically charge high fees for international transfers.
  • Another option is through a money transfer service like MTFX, which offers competitive exchange rates and low fees.

How long will it take to transfer money from Canada to the USA? 

It depends on the method you choose to send funds. However, if you send money with a service like MTFX, it typically takes 1-2 business days for the funds to arrive in the recipient's account. 

How much does it cost to transfer money to the USA?

With MTFX, you can send money abroad for as low as $15 in transfer fees. Transactions over $10,000 are subject to no additional fees, making us far more affordable than the bank's charges of up to $50 for the same service.

Is it safe to send money to the USA from Canada online?

Indeed, when you choose MTFX, you can rest assured that your online money transfers to the USA are in safe hands. We are officially registered and regulated by FINTRAC, guaranteeing the highest levels of safety and security.

 Popular countries to send money to from Canada:

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