How to Send Money to the US from Canada?

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

Whether your business needs to purchase goods or services, or for some other reason, you need an affordable and convenient way to send money to the United States. This is where foreign exchange and global payments specialists like MTFX come in.

Unlike banks that typically charge expensive rates and fees, MTFX is kinder to your business's bottom line. Many Canadian companies are increasingly discovering and relying on foreign exchange and global payments specialists like MTFX when transferring funds to the USA.

How to Transfer Money from Canada to the USA?

Transferring funds from Canada to the US can be done in a few different ways. The most common methods are using an online money transfer service, or using a bank. Here is a step-by-step guide on how to transfer money from Canada to the US:

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 more security 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 in order 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 chose).
Track your transfer: After initiating the transfer, make sure that you track its progress so that you know when it has been received by its destination country. This can be done through most online services as well as through your bank.

What is the Best Way for Sending Money to the United States?

If you’re sending funds to the USA (or anywhere else), you want the gap between what you send and what your beneficiary receives to be as small as possible.

Unfortunately, this won’t happen if you use a bank or traditional financial institution to move funds. Banks offer unfavorable exchange rates, and you also need a bigger budget to cover the expensive international bank transfer fees.

The good news is there’s a simple and cheapest way to send money from Canada to the US.

However, it has never been easier with a quick sign-up process, competitive currency rates, fast transfers, and the best-in-class technology to facilitate smooth payments. Besides skipping the uneconomical transfer fees charged by banks, you also get personalized guidance to help you move your funds to the correct destination.

What is a Good USD/ CAD Exchange Rate?

Knowing where to look for the best place to exchange currency is key to doing business globally. You have two main options when it comes to exchanging currency: your bank or global payment specialists, like MTFX. 

While your bank may seem like an obvious place to start, they don’t always offer the best exchange rates available 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 a nutshell, here’s what you need to know about the best way to send money from Canada to the United States:

Method: Through MFTX, global experts in foreign exchange and international payments.
Cost: MFTX offers some of the best exchange rates that are 2-5% lower than any bank. The MFTX exchange rate is tied to the interbank rate, and high-volume currency exchanges enable us to reduce the cost of international payments. This is a breath of fresh air for those tired of costly currency conversions.
Speed: The MTFX platform is quickly accessible from the comfort of wherever you’re. You can then send funds to the US at the touch of a button, and your beneficiary receives the amount on the same day or within 24-48 hours.
Transfer options: When you register for an MFTX account, you can send money not only to the US but to over 140 countries at the convenience of a few clicks.
Customer experience: The customer experience is stellar. MFTXs team of dedicated specialists offers top-notch service to help you move your money efficiently.
Quick review: MFTX is the perfect solution for Canadians looking to make global payments on behalf of their business. You can enjoy streamlined international payments, lower costs, and convenience, plus the satisfaction of knowing your money is where it’s required to be.

Who uses MTFX to Send Money to the United States from Canada?

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

Individuals

People sending money to family or friends or themselves in the United States
Studying in the United States
People who have made purchases of homes in the United States
People who transfer money from Canada to the US for investment purposes
People who are moving to the US

Companies

Companies making supplier payments to the United States
Companies purchasing goods or services in the United States
Companies making payments to the United States
Companies making investments in the United States

What Bank Details are Needed to Transfer Money to the US from Canada?

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

Beneficiary name
Beneficiary address
Beneficiary account number
Bank name
Bank address
Bank Swift code
Reason for transfer

Can I Set Up a Regular Money Transfer to the United States?

You can set up regular money transfers to the United States as soon as you have a registered MFTX business account. The MTFX platform leverages automation technologies to streamline your payments. It’s accessible anytime, anywhere, and all your transactions are processed securely and quickly.

Send Money to the United States today

Whatever your reason for wanting to transfer money to the United States from Canada, you could save with MTFX.

How efficient is it? Turnaround is fast, and you can set up US dollar transfers for supplier payments, purchase of goods, property purchases, monthly mortgage payments, and even US dollar tuition payments for those studying in the United States.

What help do I get? You also get free expert guidance from a personal account manager all the way through the process.

How secure is it? A secure online platform is available 24/7, meaning you can send payments whenever you need to.

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 US?

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?

Yes, with MTFX, you can be sure that your money transfers to the USA online are secure. They are officially registered and regulated by FINTRAC, ensuring safety and security.