7 Best Money Transfer Apps for Canadians (October, 2026)

Canadians often need to send money internationally, but high fees and poor exchange rates can eat into their transfers.

Fortunately, several money-transfer apps now offer more affordable and efficient solutions for cross-border payments. Here’s how to choose the best option.

The best money transfer apps in Canada provide low fees, competitive exchange rates, and fast transfer times to various countries worldwide. Popular choices include XE, Remitly, Instarem, WorldRemit, Simplii, MoneyGram, and Paysend.

These apps allow users to send money directly from their smartphones, often at a fraction of the cost of traditional bank transfers. Many offer multiple delivery methods, including bank deposits, cash pickup, and mobile wallets, catering to different recipient needs.

Understanding the features and costs of the best money transfer apps in Canada can help you save significantly on international transfers. This guide examines the top options, comparing their fees, exchange rates, transfer speeds, and unique features to help you choose the most suitable app for your needs.

What are the best money transfer apps to send internationally?

For Canadians sending money internationally, the best transfer apps offer a combination of low fees, competitive exchange rates, and fast delivery times.

Apps like XE and Remitly stand out for their wide global reach and user-friendly interfaces. Simplii, backed by CIBC, provides fee-free transfers for existing customers.

There are also WorldRemit and Instarem, which offer excellent options for transfers to Asia and Africa. Frequent small transfers might benefit from Paysend’s fixed fee structure, while larger transactions could get better rates with XE.

The ideal app depends on your specific needs. Consider factors like destination country, transfer amount, and preferred delivery method when choosing.

The best app saves you money while ensuring your funds arrive safely and quickly. Let’s take a closer look at some of these apps to get a better understanding.

1. XE

XE is a well-established money transfer business, operating since 1995 and now part of Euronet Worldwide (NASDAQ: EEFT).

It offers reliable foreign exchange as well as remittances to more than 200 countries around the world. XE handled over $115 billion in transfers last year, illustrating how deeply it is integrated into the global financial services industry.

Why should you use XE?

XE is a perfect contender for the title of the best international money transfer app in Canada. Canadians love this app because they can send money to over 200 countries within the shortest amount of time and without any risks.

They claim they offer more attractive exchange rates than many banks, so it is possible that you can save money on the transfer fees.

XE has been providing particular solutions for companies and organizations, including cross-country payments for invoices, mass payment services, and other crucial services.

They include currency graphs, change rate alarms, and past rate schedules, along with a travel cost estimator. XE is a part of NASDAQ, so it is required to meet high standards in terms of compliance and the security of your transactions.

XE offers accounts for both clients’ personal and business accounts, which allows them ease in opening and changing an account online. The XE API ensures that organizations can process high-volume payments to 220 countries and 139 currencies, which is vital for business.

How much does XE cost?

XE is free for personal and business users and one can sign up for an account with the platform. However, it should be noted that using XE’s services comes with different costs.

1. Transfer Fees: These vary depending on the amount of money to be transferred and the country of the recipient.
2. Exchange Rates: XE provides quite affordable prices but they are not fixed and depend on current rates and currencies.
3. Potential Savings: XE claimed that users could save greatly on large transfers.

For instance, they assert that transferring £20,000 to EUR may cost up to €554 more than with other services. Unfortunately, XE doesn’t offer a set fee schedule and instead focuses on providing clients with better exchange rates than those of banks.

Individuals can obtain a quote for a particular transfer in order to know the amount of money they will spend on a given transaction.

2. Remitly

Remitly is an online remittance company that enables people to transfer money to other countries at fair exchange rates more cheaply. Remitly began operations in 2011 and its vision is to offer cheap and clear channels through which people can transfer money across borders.

To ensure that it meets the needs and preferences of the customers, the company provides several transfer options.

Why should you use Remitly?

Remitly offers competitive transfer fees and exchange rates, so it’s affordable for international money transfers. They provide diverse transfer methods such as doorstep delivery, bank deposit, cash pick-up, and mobile account depositing for both the sender and the recipient.

The referral system of Remitly offers its users an opportunity to get as many bonuses as they want by inviting others to use it.

For developers, Remitly provides an API integration service, which enables companies to add cross-border payment choices for their clients.

The company also possesses a special “passbook” option for immigrants in the United States. This offering can help people shop with and save money in a different currency without incurring additional fees for foreign transactions.

How much does Remitly cost?

Remitly’s pricing varies based on the destination country and transfer method chosen.

• They offer two main services:
  • Express: for quick transfers (higher fees)
  • Economy: for non-urgent transfers (lower fees)
• Example of fees (US to Philippines transfer):
  • Economy: $0.00 for sending $0-$1000+ (received in Philippine Pesos)
  • Express: $3.99 for sending $0-$1000+ (received in Philippine Pesos)
  • Fees start at $4.99 when the recipient receives them in US dollars.

There are promotional rates and referral rewards, which make it possible to get even cheaper services. On the Remitly website, customers need to enter their sending and receiving countries to receive an actual price quote. These costs might be different depending on the current exchange rates and the specifics of the transfer.

3. Instarem

Instarem, one of the best money transfer apps in Canada, was established in 2014. The goal is to offer users and companies using the service faster, cheaper, and more secure means compared to conventional international money transfer services.

Instarem is a brand under Nium Pte. Ltd. and its affiliates, with Nium Canada Corporation MSB registered with FINTRAC in Canada.

Why should you use Instarem?

Instarem outperforms traditional international bank transfers in several ways. It offers highly faster transaction times, thereby cutting down on the time taken for the money to get to its destination. The service is cheaper than conventional methods and has relatively low charges for clients.

Instarem stands out for its simplicity, where all fees and exchange rates are declared and easily accessible.

This means that the user is able to know how much will be charged and how much the recipient will be paid. It is also designed for ease of use, with a simple and intuitive front end that allows for easy transfer of money internationally.

The key benefits of using Instarem revolve around speed, cost, and fee transparency, which is perfect for those who often transfer money across borders.

How much does Instarem cost?

Instarem’s fee structure is variable and depends on several factors:

• The sending country
• The receiving country
• The amount being transferred
• The chosen payment method

Instarem ensures that the customers are aware of all the possible costs to be incurred in a transaction. The exchange rates and fees can be obtained using the calculator located on the main page of Instarem. This tool enables potential users to enter their individual transfer information and how much they stand to be charged.

Unfortunately, Instarem does not have a set fee list, but they pride themselves on having cheaper prices than those of banks for wire transfers. It is advised to use the online quote and sign up for an account to see the current rates and fees for any type of transfer.

4. WorldRemit

WorldRemit is an international money transfer service established in 2010 by Ismail Ahmed, Catherine Wines, and Richard Igoe.

It is accessed mainly through a mobile application and a website that connects with agents all over the world for cross-border money transfers. WorldRemit’s vision is to bring lower fees, convenience and security to international money transfers for consumers.

Why should you use WorldRemit?

There are major benefits to using WorldRemit for international money transfers. It currently operates in about 130 countries and accepts 70 currencies, which proves the company’s vast geographical reach.

WorldRemit also offers multiple payment options and multiple delivery methods, which allow users to choose the one that is convenient for them.

It is convenient and simple to use for various users, who can easily send money to their loved ones in other countries. WorldRemit is a secure service that employs secure systems as well as ID checks and a security team that oversees potentially fraudulent behaviours.

Transfers are relatively quick and many of the transactions are processed in minutes, depending on the transfer method. The main advantage for the users of the company is that it is regulated by the financial institutions of the countries where it operates.

How much does WorldRemit cost?

WorldRemit’s rates are pre-set and affordable to ensure that customers are charged fairly. The exact costs for using WorldRemit vary based on several factors:

• The recipient’s country
• The chosen delivery method
• The amount being transferred

However, the prices that WorldRemit charges for money transfers remain considerably low for almost all of its services. Most transfer fees range between $1 and $4; hence, it can be considered an inexpensive method of making international money transfers.

It is, however, recommended that one use the WorldRemit app or website, as it provides the most accurate price estimate.

This will equip them with the latest rates and charges that can suit their transfer needs at a particular time. Other stakeholders may also stand to benefit because of the lower charges than using a normal bank transfer or other money transfer service.

5. Moneygram

Moneygram is one of the oldest money transfer services in Canada, serving since 1988. It is an international money transfer service with services available in over 220 countries and more than 40000 centres.

MoneyGram is one of the best money transfer apps in Canada because it allows several methods of payment. It can be transferred online through the company’s website, the MoneyGram mobile application, or through agents.

Why should I use MoneyGram?

First of all, they facilitate transfers through the mobile application, the Web interface, or directly via an agent. MoneyGram has a short transfer turnaround time; most of its transfers take minutes, especially for cash pick-up services.

They use several delivery methods based on the clients and the methods include banking by deposit, mobile money, debit cards, and cash pickup.

You can also opt for scheduled pickups if you are receiving regular payments or are busy. In addition, MoneyGram does not have the lowest fee and exchange rate of all money transfer companies. But they are reasonable given that this company offers fast and efficient money transfer services.

MoneyGram’s primary concern is to provide security to the client’s information and monetary transactions, and security is provided via 256-bit encryption. What about their customer support team? They are always polite and willing to assist me with any questions that I may have.

How much does MoneyGram cost?

MoneyGram charges its clients according to the amount being remitted, the country that the cash is being sent to, and the mode of delivery. Here are some examples:

• If you want to send C$100 for example, the fee charged is normally C$11.50.
• For transactions between C$1 and C$50, the fee is a fixed C$5.
• Fees generally increase for larger transfer amounts.

It’s important to note that in addition to the transfer fee, MoneyGram also makes money on the exchange rate margin. This means the exchange rate offered may be less favourable than the mid-market rate.

However, one must understand that the Value2Market remedy involves another source of income for MoneyGram: the exchange rate margin. This means the exchange rate offered may not be at its actual best, or the so-called mid-market rate.

6. Paysend

Paysend is a FinTech company that started changing the way people transfer money back in 2017. Currently, it links more than 12 billion cards from prominent payment systems, including Mastercard, Visa, and UnionPay.

The Paysend mobile app enables customers to transfer money to over 170 countries conveniently and safely, making it one of the best money transfer apps in Canada.

Why should I use Paysend?

Paysend is a valuable tool for international money transfers, including to more than 170 nations, directly through the application. The service is fast, with many of the transfers occurring in a matter of seconds, especially for bank-to-bank transfers.

The layout of Paysend is clear and user-friendly, allowing for effective transfer initiation by the users.

Paysend considers security to be paramount. All transfers are protected by PCI DSS certification, which guarantees the highest level of bank protection for your operations.

It permits multiple transfer options, such as bank cards, accounts, and even mobile number transfers, for flexibility. Paysend also boasts a transparent fee structure, showing the fixed fees and the exchange rate at a glance.

There is also round-the-clock customer support to ensure that everyone who needs assistance receives it at any given time.

The cost of transferring funds through the app is also reasonable since fees are fixed and can be easily estimated before initiating the transfer. Also, this company has established numerous offices around the world and it is able to process the money transfer rather quickly.

How much does Paysend cost?

When making a transfer from the United States, Paysend has put into consideration a standard fee of $2 for every transfer below $200. For any transfer that is above $200, they charge one percent of the transfer amount.

Export transactions from the United States have a fixed charge of $2, irrespective of the transfer amount.

These fixed fees help in having a clear estimate of the total costs of the transfer right from the start. The transfer charge is fixed, while the exchange rates may vary. Therefore, users are advised to check the app before sending.

7. Simplii

Simplii Financial is an online bank operating in Canada that provides a range of services, such as the 2019 Global Money Transfer. With the help of this service, Simplii account holders are able to transfer money internationally to over 75 countries.

Simplii, an online bank that is affiliated with CIBC, an established bank in Canada, combines the flexibility of an online bank with the stability of a traditional bank.

Why should I use Simplii?

Simplii is an excellent tool to transfer money cross-border since many of them do not attract transfer fees, thus making your transactions cheaper.

Simplii allows transfers to be initiated from the online banking platform or their mobile application. The service is available in more than 75 countries so it offers many possibilities for sending money to different countries.

If you are already a Simplii client, you can do banking and transfer money abroad under one roof, thereby providing convenience. The opportunity to monitor your transfers using Simplii online banking or the corresponding smartphone application reassures you with regards to your transactions.

Security is also a strong point with Simplii. The service encrypts data and offers a guarantee that protects you from fraud.

How much does Simplii cost?

While Simplii advertises “no transfer fees” for its Global Money Transfer service, it’s important to understand their pricing structure:

1. Account fees: It should also be noted that Simplii has no fees for its accounts.
2. Transfer fees: It is important to note that there are no outright costs associated with money transfers across borders.
3. Exchange rates: Currently, Simplii generates its revenues through the exchange rate by applying a margin. This is why you don’t get the mid-market rate and the actual rate only appears when the transfer is initiated.
4. Minimum transfer: The smallest transfer is 100 CAD.
5. Maximum transfer: There are time limits; the largest amount of 30,000 CAD can be transferred within a 24-hour time frame; some countries have lower sending limits.

Nonetheless, it is noteworthy that, while Simplii doesn’t impose a transfer fee, the recipient’s bank may impose a fee for the transfer. This service can only be accessed by account holders in Simplii, which may result in different pricing compared to other money-transfer services.

How do the best money transfer fees compare in Canada?

When comparing money transfer fees in Canada, it’s important to consider various factors such as the transfer amount, destination country, and delivery method.

Each service has its own fee structure and exchange rate margins, making direct comparisons challenging. However, we can provide a general overview to help you understand how these services compare.

Let’s look at a comparison of costs from the best money transfer services in Canada for sending 1000 CAD to a few popular destinations:

Note: While Simplii advertises no transfer fees, they make money on exchange rate margins.

From the above ratings and benchmarking, it is clear that the fees vary significantly depending on the kind of service or product offered.

But in detail, Simplii seems to be the most attractive option because they charge no transfer fees, but they make the money from exchange rates. It may be higher than the amount estimated earlier in this process to be the cost of the project at hand.

WorldRemit and Remitly are the cheapest, with charges ranging from $0- $6.99, with charges varying depending on the destination and transfer method. These services are often affordable and urgent most of the time.

Paysend does not have a rigid transfer fee. It operates by charging $2 on transfers that are less than $200 and 1% on transfers that are greater than $200. It is more expensive than the other methods but the convenience comes with the wide network of affiliate agents collecting cash.

Other fees are also charged by XE and Instarem, which are based on several parameters. They do not provide fixed fees but nearly all of them have their typical rates, especially for large transfers.

Many of these firms provide an online cost estimator or a quote request mechanism to enable you to determine the transfer and amount cost.

Factors to consider when choosing the best money transfer services in Canada

In choosing a money transfer app in Canada, several characteristics can help influence the decision to have a much better experience and make it worth it. First, they should not look at the price only in terms of the transfer fee but also in terms of exchange rate markups.

Transfer speed matters if you want to have the money as soon as possible. While some applications allow you to transfer money in a few hours, others may take days.

Confirm that the app allows for transfers to your desired destinations, and look at the minimum and maximum that can be transferred. When choosing a payment transfer service to use, consider the type of payment that is most convenient for you and the recipient.

Also consider the delivery methods, including bank deposit, cash pickup, or mobile money. Auto-transfer or data tracking capabilities might save time, so look for apps with a good interface. Choose apps that protect your data through means such as encryption and two-factor authentication.

A good customer care support system is very useful, especially for first-time users of international money transfers. On the same note, whereas special promotions should not be the only consideration, they offer added value.

Conclusion

As you consider your options, remember that the “best” app isn’t a one-size-fits-all solution. Depending on your transfer demands, exchange rates, and promotional offers, your best option may vary.

We encourage you to use this guide as a starting point rather than a definitive answer. Before each transfer, take a moment to compare your options. The best money transfer apps in Canada offer easy-to-use comparison tools, allowing you to quickly see which will give you the best deal.

Also, keep an eye on emerging technologies and new entrants to the market. The world of fintech is rapidly advancing, and tomorrow’s best solution might be different from today’s.

Lastly, while cost is important, don’t overlook factors like security, customer service, and ease of use. The cheapest option isn’t always the best if it comes with added stress or risk.

Stay informed, compare your options, and choose the solution that best fits your needs. With the right approach, you can save money and time on your international transfers, keeping you better connected to your global network.

Thanks for checking out the best money transfer apps!