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MTFX Showcases Visual Illustration of How Canadians Can Save Using MTFX vs. Bank

ONTARIO, CANADA, Sep. 14, 2022 /PRNewswire/ --

MTFX has created a thought-provoking visual illustration that will make Canadians think twice about using the bank when sending money abroad. This helpful illustration is designed to help people visualize potential savings when using MTFX instead of the bank. The ultimate goal of the comparison savings is to drive home the point that Canadians stand to gain more by using currency specialists like MTFX for international money transfers. While banks do have their place in the world of financial transactions, it appears they don’t offer the best value for money when it comes to currency exchange. The illustration provided by MTFX shows this as clear as day.

“We want more and more Canadians to save when sending money abroad,” said Dasha Nakonechna, Vice President at MTFX. “Many people use the bank simply because it seems like the most convenient option. Yet, it’s costly with expensive transfer fees and less than competitive exchange rates. We tell our clients about all the money they could save with an MTFX account, and this sparks curiosity about how many extra dollars they get by skipping the bank.”

As a leading foreign exchange service in Canada, MTFX’s unique selling point revolves around bank-beating rates and low transfer fees. With rates lower than banks by 3-5%, MTFX has crafted an irresistible offer for anyone interested in sending money internationally. According to the comparison savings, a single transfer of CAD 25,000 could translate to savings of hundreds of dollars.

“We have provided this visual illustration so our clients can easily capture the difference between our exchange rate and the exchange rate offered by various Canadian banks,” Dasha Nakonechna said. “Whether you’re looking at popular banks like TD Bank, HSBC or RBC, there’s no dispute about MTFX being the most cost-effective international transfer method.”

MTFX’s service offers other features to ensure better visibility and transparency for users. The live rate currency calculator lets you check and compare foreign exchange rates before initiating your transaction, while the 24/7 online platform enables you to track your transfer from anywhere. Canadians can also ask for a no-obligation quote to better compare exchange rates from MTFX to what's offered by banks. For more information visit

About MTFX

MTFX is devoted to offering bank beating rates for Canadians that need cheaper alternatives when sending money internationally. This service was established in 1996 and currently has headquarters in Canada MTFX’s focus has always been to provide clients with fantastic value per transaction in terms of money savings, time savings and convenience. MTFX combines great technology, incredibly competitive exchange rates, low transfer fees and expert guidance to achieve this. To learn more about MTFX, please visit

Media contacts: 

Dasha Nakonechna
905 305 4132
VP Corporate Foreign Exchange


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Individuals and businesses who need to send money in foreign currency internationally can use MTFX’s services. The beneficiary of the transfer must have a bank account for the funds to be paid into. Personal clients usually use our services to transfer money between their own accounts in two different countries. Business clients usually use our services to transfer funds to suppliers, fund international operations, or repatriate overseas earnings.
MTFX offers currency exchange rates that are 2-5% better than those offered by the banks. Personal clients usually save hundreds of dollars per transfer and for larger transfers, the savings can run into the thousands. We also offer excellent customer service, dedicated currency specialists, and a 24/7 online platform with best-in-class technology that allows you to complete transfers from any device virtually anywhere in the world. Business customers save with better currency exchange rates and proven solutions geared towards managing and mitigating foreign exchange risk. Our solutions include forward contracts, market orders, rate alert services, and much more - all backed by great technology and great people.
Funds can be transferred via wire transfer, Electronic Funds Transfer (EFT), or ACH payment services. MTFX maintains bank accounts in all major currencies with highly-rated banks. Our banking infrastructure ensures that you can transfer funds to us quickly and securely.
Our global network of banking partners allows us to get funds to virtually anywhere in the world quickly and efficiently. Most wire transfers from MTFX will be received by your beneficiary within 24-48 hours. MTFX also offers same-day transfers that are almost instantaneous, as well as low-cost in-country payment services for your less urgent transfers. For further information please speak to one of our currency specialists.