Lower FX Fees and Banking Costs on European Exports

At MTFX, we believe Canadian exporters deserve to retain every dollar they earn, rather than losing value to outdated banking systems or inefficient foreign exchange practices.

Desjardins recently noted that CETA remains underused by many Canadian firms, meaning they often miss out on tariff-free access under the Canada–EU Comprehensive Economic and Trade Agreement. That’s billions in potential savings and profit left on the table- not because of tariffs, but due to inefficiencies in how funds move across borders.

MTFX helps close that gap. With multi-currency accounts, instant payments, and transparent foreign exchange pricing, we ensure that more of every export transaction reaches your business.

The Missed Opportunity Behind Europe’s Trade Advantage

CETA was designed to open the door to European markets by removing tariffs and simplifying trade. According to Desjardins' report, many Canadian exporters are not claiming their full benefits, not due to tariffs, but because of inefficiencies in their financial management.

• Costly foreign exchange conversions occur when banks automatically convert euros to Canadian dollars.
• Delayed settlements that restrict cash flow and increase exposure to rate volatility.
• Hidden banking markups and unclear transfer fees that quietly eat into profits.

The outcome? Canadian exporters end up paying more, waiting longer, and earning less, even when trade agreements are meant to work in their favour.

Keeping More of Your Money Starts with Smarter FX and Payments

At MTFX, we help Canadian exporters take full control of their international payments and currency management. Whether you’re selling to Germany, France, or Italy, you can collect, hold, and transfer funds seamlessly, without losing value to inflated bank exchange rates or transfer delays.

Our global payment platform gives exporters the flexibility to manage foreign exchange efficiently, helping businesses reduce costs, improve cash flow, and protect their profit margins on every transaction.

Here’s how MTFX helps exporters save more and strengthen their bottom line:

Multi-Currency Accounts: Get Paid Like a Local

Open a Euro account in the Eurozone and let your European customers pay you directly in EUR, GBP, or USD, just like a local business. With an MTFX multi-currency account, Canadian exporters can collect funds in their clients’ preferred currencies, hold them securely, and convert only when market conditions are right.

That means:

• No forced conversions at unfavourable bank rates.
• No cross-border delays or intermediary banking fees.
• No hidden charges cutting into your profit margins.

Manage all your foreign balances from a single platform, hold euros, pounds, or US dollars, and use those funds to pay overseas suppliers or reinvest abroad without multiple conversions. This flexibility helps exporters reduce FX exposure, protect margins, and gain greater control over cash flow in international markets. 

Instant Payments: Better Cash Flow, Faster Turnaround

Traditional bank wires can take several working days, holding up valuable cash flow and delaying supplier payments. With MTFX’s instant or same-day international payments, Canadian exporters can send and receive funds quickly across major currency pairs, such as EUR/CAD, GBP/CAD, and USD/CAD, improving liquidity and boosting turnaround times.

Faster settlement means:

• Stronger cash flow and liquidity.
• Greater visibility into receivables and payables.
• Less exposure to daily exchange rate movements.

MTFX connects directly with local payment networks in Europe, North America, and beyond. This means funds arrive faster, helping exporters meet deadlines, improve supplier trust, and reinvest capital into growth. You can also get better rates than banks with MTFX. Check the CAD to EUR rates below and analyze the pair.

Transparent FX Rates: No Hidden Markups

Hidden markups can quietly cost Canadian exporters thousands of dollars each year. MTFX offers live, transparent exchange rates linked directly to the interbank market. This way, you always know exactly what you’re paying and how much you’re saving.

You always see the rate before confirming a transaction, with full visibility on spreads and fees. This transparency enables businesses to forecast margins and protect against unnecessary foreign exchange losses accurately.

For exporters managing high-value transactions, the savings can be significant, often 1 –2% per transfer compared to bank rates. On a €100,000 invoice, that’s up to $2,000 – $3,000 kept in your business instead of being lost to FX costs.

Lock in Favourable Rates and Manage FX Risk

Exchange rates fluctuate every day, and when invoices take months to settle, your profit margins can shrink. With MTFX, Canadian exporters can lock in favourable rates for up to a year, receive automatic rate alerts, and manage FX exposure confidently.

You can:

• Lock in a fixed rate for up to a year in advance.
• Receive automated alerts when your preferred rate becomes available.
• Eliminate volatility from export pricing and protect your revenue.

This level of control is crucial for manufacturers, wholesalers, and service exporters handling large contracts or recurring cross-border payments. By knowing exactly what your exchange rate will be, you can confidently quote clients, plan your cash flow, and maintain stable margins.

One Platform. Complete Visibility.

The MTFX online platform consolidates all international transactions into a single, secure dashboard. View live exchange rates, manage balances, and send or receive payments in more than 30 currencies anytime, anywhere, with complete transparency and control.

With just a few clicks, you can:

• View live exchange rates and execute trades instantly.
• Send and receive international payments with full tracking.
• Download statements and reports for easy reconciliation.
• Set up user permissions and approvals for team management.

MTFX provides exporters with the same powerful tools used by global enterprises, scaled for Canadian businesses that trade internationally. It’s an efficient, transparent way to manage foreign exchange and international payments without relying on banks.

Why it Matters: Capturing the Full Value of CETA

CETA provides Canadian exporters tariff-free access to European markets, but many still fail to capture its full financial value. The problem isn’t with the trade deal itself; it’s with how payments and foreign exchange are managed after the sale is made.

When payments move inefficiently, the tariff savings promised by CETA can vanish. Many Canadian exporters face:

• Costly FX conversions that cancel out tariff gains.
• Delayed transfers that limit working capital.
• Hidden bank fees that reduce profit per transaction.
• Unmanaged exchange rate risk that disrupts forecasting.

These small inefficiencies add up to a significant loss of value. Even when CETA removes trade barriers, outdated payment processes can silently reintroduce financial ones.

To truly benefit from CETA, exporters must focus not only on accessing new markets but also on capturing every dollar earned from those markets. Efficient FX and payment management are now essential to realizing the full advantage that CETA promises. MTFX helps exporters close that gap, turning trade access into real financial gain.

Built in Canada. Trusted Worldwide.

MTFX is a Canadian-owned and FINTRAC-registered foreign exchange and global payments provider with over 30 years of experience helping businesses move money confidently across borders.

We have worked with over 10,000 Canadian companies across various industries, including manufacturing, technology, agriculture, and education, helping them trade internationally, manage foreign exchange exposure, and protect their profit margins. Our mission is simple: to help Canadian businesses expand globally by facilitating international payments that are faster, more transparent, and cost-effective.

Get Started with MTFX

If your business exports to Europe or anywhere overseas, now is the time to take control of your foreign exchange and international payments.

Here’s how easy it is to get started:

1. Open a free MTFX business account

Collect, hold, and manage funds in multiple currencies, including EUR, GBP, USD, and CAD, without unnecessary conversions.

2. Access live, transparent FX rates

View interbank-linked rates in real time and see your potential savings before confirming a transaction.

3. Send and receive payments instantly

Enhance liquidity, minimize settlement delays, and ensure seamless cash flow across key trade corridors.

4. Strengthen your FX strategy

Use forward contracts, rate alerts, and risk management tools to lock in rates and safeguard margins against volatility.

Don’t Leave Money on the Table - Keep it with MTFX

CETA gives Canadian exporters tariff-free access to a market of more than 440 million buyers across Europe. However, to truly benefit, your payments and currency management need to be as efficient as your trade operations.

Don’t let hidden FX costs take away what trade agreements have already given you. With MTFX, you can move funds faster, access competitive market rates, and manage global payments with full transparency. Keep more of what you earn, and strengthen your business every time you trade internationally.

Start trading smarter today. Open your MTFX business account, access live FX rates, and experience how effortless global payments can be.

FAQs

1. What is CETA, and how does it benefit Canadian exporters?

The Canada–EU Comprehensive Economic and Trade Agreement (CETA) eliminates most tariffs between Canada and the European Union, providing exporters with access to a market of over 440 million consumers. It allows Canadian businesses to sell goods and services in Europe more competitively by reducing costs and simplifying trade procedures.

2. Why are many Canadian exporters not realizing the full benefits of CETA?

While CETA eliminates tariffs, many exporters lose value due to inefficient payment systems, poor FX rates, and hidden bank fees. These financial inefficiencies can offset the tariff savings intended under the trade deal, reducing overall profit margins.

3. How do foreign exchange costs affect export profitability?

Exchange rate differences and markups added by traditional banks can significantly reduce the final amount received from overseas payments. Using a foreign exchange specialist like MTFX helps exporters access competitive market rates and eliminate hidden markups, improving overall profitability.

4. What are the most common FX challenges exporters face when trading with Europe?

Exporters often deal with:

• High conversion costs between CAD and EUR.
• Slow cross-border settlements that delay cash flow.
• Unclear banking fees on wire transfers.
• Currency volatility affects pricing and forecasting.

5. How can Canadian exporters manage currency risk effectively?

Currency risk can be managed using tools like forward contracts, rate alerts, and hedging strategies. These allow exporters to lock in exchange rates for future transactions and protect margins against sudden market fluctuations.

6. What is a multi-currency account, and how does it benefit Canadian exporters?

A multi-currency account allows Canadian exporters to receive, hold, and send funds in major currencies like EUR, GBP, and USD without forced conversions. It helps avoid unfavourable bank rates and gives flexibility to convert when market conditions are ideal.

7. How do faster international payments help exporters?

Faster or same-day international payments improve cash flow and reduce working capital lockups. Exporters can pay suppliers promptly, manage receivables efficiently, and minimize the risk of rate changes during transfer delays.

8. What are the advantages of using a foreign exchange provider instead of a traditional bank?

Specialized FX providers like MTFX offer real-time exchange rates, lower transfer costs, faster settlements, and greater transparency. Unlike banks, which often apply hidden margins, MTFX links rates directly to the interbank market for fair pricing.

9. How can exporters know if they’re losing money on FX?

Exporters can compare the rates they receive from their bank against live interbank rates or use the MTFX currency converter to check the difference. Even a small margin of 1–2% per transaction can translate to thousands in lost profit annually.

10. How does MTFX help Canadian exporters capture the full value of CETA?

MTFX helps exporters maximize the benefits of CETA by offering transparent FX pricing, multi-currency accounts, and instant global payments. This ensures that tariff savings aren't wiped out by FX costs or slow transfers, allowing businesses to retain more of every transaction.

Start trading smarter today. Open your MTFX business account, access live FX rates, and experience how effortless global payments can be.

Source

https://www.desjardins.com/content/dam/pdf/en/personal/savings-investment/economic-studies/canada-international-exports-4-september-2025.pdf