Whether you’re transferring CAD to the United States for individual or business reasons, millions of global remittances are transferred to the United States every time. With an estimated population of 331 million people and the world’s top GDP, it’s safe to say the United States is a global superpower. As the number of fund transfer specialists offering services from Canada to the United States continues to rise, it has no way been easier to transfer funds to the US safely and securely.
Best Providers for Transferring funds to the United States from Canada
When considering how to send funds to the United States from Canada there are some crucial aspects of the transfer that will impact the best provider for your requirements.
There are a lot of global funds transfer providers for Canada to the United States. The fastest provider is WorldRemit. The cheapest transfer provider available is Wise at 0.9 percent Above Mid-Market Rate.
However, for speed and trustability, it’s recommended to use XE when transferring CAD – USD. This means that by using XE for online funds transfers to the United States from Canada, you’re likely to save on transfer charges and benefit from quick speeds so your receiver will get extra funds and have them delivered in less time.
Transfer money using OFX
OFX (formally known as Ozforex) is a good option if you are transferring funds online. They’ve serviced all over the world and lately stopped charging a flat transfer fee to clients in the USA.
Transfer money using Wise (formerly known as TransferWise)
For transfers to family or for ex-pats living overseas, Wise ( formerly known as TransferWise) is one of the cheapest (and most popular) funds transfer services. This is because they’re one of the many companies that offer the mid-market, noncommercial exchange rate you see on Google or xe.com.
Their transfer charges are transparent and easy to calculate and their Borderless Account makes it ideal for ex-pats living in the USA and getting funds from overseas.
The cheapest way to send funds from Canada to the United States
The cost of transferring funds will depend on the value of the sale and the quantum of USD you want the receiver in the United States to get.
In order to avoid high charges, you should consider the cheapest way to send funds from Canada to the United States. Wise has been determined to be presently offering you the cheapest rates possible. When transferring funds from Canada to the United States, speed is one of the biggest factors you need to consider in terms of the service offered by different funds transfer providers. Presently, WorldRemit is the fastest way to transfer CAD – USD. Most fund transfer providers allow you to deposit and send money using various payment styles, but not all providers offer every option. Generally, you’ll find the most common styles are bank transfers and card payments, but numerous providers also accept cash and some will even deliver finances straight to your receiver’s door. To avoid high charges you can choose to use an online funds transfer provider similar to WorldRemit to pay for your transfer to the United States. With XE you can send funds online to the United States using your debit card. But before making a payment, make sure you understand all the processing charges in place. Bank and global line transfers are the most common ways of transferring funds to the United States as they’re secure, dependable, and accessible. Still, they frequently come with the slowest delivery times in case speed is an important factor for you.
CAD to USD Currency Transfer
Before transferring funds to the United States from Canada, you should consider the following;
- The quantum you want to transfer It’s likely that the more funds you send to the United States the further value you’ll get, and the further USD the receiver will get. This is because any flat amount charged ends up with a lower % of your transfer quantum, and also because numerous providers allow you to negotiate a better exchange rate margin if transferring large quantities.
- The CAD – USD exchange rate margin funds transfer providers charge a small chance on top of the mid-market exchange rates in order to induce profit. The current mid-market rate is 0.793176 percent and the smallest exchange rate periphery is presently offered by XE at 0.9 percent above the mid-market rate.
- Unforeseen expenses & charges; Before transferring funds to the United States, make sure the provider you’re using doesn’t charge any Unforeseen expenses.
