Yes, you can transfer money to a Canadian bank account from the US

You can send money from a US bank account to a Canadian bank account, but the method you choose affects how long it takes, what it costs, and what information you need to provide. The most common routes are wire transfer, ACH (Automated Clearing House), and cross-border digital payment services. Each has different fees, speed, and exchange rate treatment, so the right choice depends on how much you're sending, how quickly you need it to arrive, and whether you want to avoid high fees.

Canadian banks accept transfers from US banks, but they process them differently than domestic US transfers. You'll need the recipient's full name, their Canadian bank account number, and their bank's routing number (called a SWIFT code or IFSC code in Canada). Some transfers also require a Canadian address for the recipient.

Key Takeaways

  • Wire transfers arrive in one to three business days but typically cost $15 to $50 and give you an unfavorable exchange rate.
  • ACH transfers are cheaper (often $0 to $10) but take five to ten business days and are only available through some US banks.
  • Digital payment services like Wise, OFX, and Remitly often offer better exchange rates and lower fees than banks, though speed varies by service.
  • You will need the recipient's SWIFT code, account number, and full name; some banks also require their Canadian address.
  • The exchange rate you receive depends on your transfer method—banks typically mark up the rate, while some digital services offer the real mid-market rate.

Wire transfer: fastest but most expensive

A wire transfer is the fastest way to move money to Canada and the method most US banks offer without restrictions. You initiate it through your bank's online portal, by phone, or in person. The money typically arrives within one to three business days, though some banks promise next-day delivery for a higher fee.

Wire transfer fees range from $15 to $50 depending on your bank and whether you're sending a large amount. The bigger cost is the exchange rate: banks add a markup of 1% to 3% on top of the real exchange rate, so if the actual USD-to-CAD rate is 1.35, your bank might give you 1.32 or 1.33. Over a large transfer, that markup can cost you hundreds of dollars.

To send a wire, you need the recipient's Canadian bank account number, their full name exactly as it appears on their account, and their bank's SWIFT code (a four-letter code like ROYCCATT for Royal Bank of Canada). Some banks also ask for the recipient's address in Canada. Ask your bank for the exact information they need before you initiate the transfer, because a missing or incorrect detail can delay the payment or send it to the wrong account.

ACH transfer: cheaper but slower and not always available

ACH transfers to Canada are less common than wire transfers, and not all US banks offer them. When they do, they're significantly cheaper—often $0 to $10—and take five to ten business days. The exchange rate markup is typically smaller than a wire transfer, though still present.

ACH transfers work through the automated clearing system and require the same information as a wire: the recipient's account number, full name, and their bank's routing information. The main limitation is availability: you'll need to call your bank or check their website to confirm they support cross-border ACH to Canada. If they do, the process is usually the same as sending a domestic ACH—you enter the recipient's details and authorize the transfer online.

ACH transfers are best for situations where you're not in a hurry and want to minimize fees. If your bank doesn't offer them, ask whether they can send an ACH on your behalf through a correspondent bank, though this usually adds cost and time.

Digital payment services: better rates, variable speed

Services like Wise (formerly TransferWise), OFX, and Remitly specialize in cross-border transfers and often beat banks on both exchange rates and fees. Wise, for example, charges a small percentage fee (typically 0.5% to 1.5%) and gives you the real mid-market exchange rate with no markup. OFX charges a flat fee plus a small markup on the rate. Remitly charges a percentage fee and offers multiple delivery speeds.

The tradeoff is speed: Wise typically takes one to two business days, while OFX can take three to five, and Remitly offers options ranging from same-day to several days depending on the fee you pay. You'll also need to set up an account with the service and verify your identity before you can send money, which adds a step that banks don't require.

These services are worth comparing if you're sending more than $500, because the savings on exchange rate markup often exceed the fee. For smaller amounts or one-time transfers, the setup time may not be worth it. All three services require the same recipient information as a bank transfer: account number, full name, and SWIFT code.

What information you need from the recipient

Before you initiate any transfer, get these details from the person receiving the money:

  • Full legal name exactly as it appears on their bank account
  • Canadian bank account number (usually 7 to 12 digits)
  • Bank SWIFT code (four letters, like BOFCCATT for Bank of Montreal)
  • Their Canadian mailing address (some banks require this, others don't)

The SWIFT code is the most important piece you might not have. If the recipient doesn't know it, they can find it on their bank statement, by calling their bank, or by searching online—most Canadian banks publish their SWIFT codes. Asking for this information upfront prevents delays or rejected transfers.

Exchange rates and hidden costs

The exchange rate you receive is rarely the "real" rate you see on financial news sites. Banks and most payment services add a markup, meaning you get fewer Canadian dollars per US dollar than the actual market rate. The markup varies: banks typically add 1% to 3%, while digital services add 0.5% to 1.5%. Over a $5,000 transfer, a 2% difference in the rate can cost you $100 or more.

Some services advertise the "mid-market rate," which is the real rate between banks with no markup. Wise uses this rate, which is why it's often cheaper than banks for large transfers. Before you send, ask your bank or service what rate they're offering and what their fee is. Calculate the total cost (fee plus the difference between their rate and the mid-market rate) to compare options accurately.

What happens if the transfer goes wrong

If money is sent to the wrong account or doesn't arrive within the promised timeframe, contact your bank or service immediately. For wire transfers, banks can sometimes recall the payment if it hasn't been claimed by the recipient, but this is not may provide and becomes harder after a few days. For ACH and digital service transfers, the process is slower and recovery is less certain.

If the recipient's bank rejects the transfer because of incorrect information, the money is usually returned to your account within five to ten business days, though some banks charge a fee for the reversal. This is why confirming the recipient's details before you send is critical—it's much easier to prevent a mistake than to fix one after the fact.

Frequently Asked Questions

How long does it take to transfer money to Canada?

Wire transfers typically arrive in one to three business days. ACH transfers take five to ten business days. Digital payment services vary: Wise usually takes one to two business days, while OFX takes three to five. Speed depends on your bank's processing time and the receiving bank's processing time, not just the transfer method.

Do I need a SWIFT code or a routing number?

Canadian banks use SWIFT codes, not routing numbers. A SWIFT code is a four-letter identifier for the bank (like ROYCCATT for Royal Bank of Canada). US banks use routing numbers, which are nine digits. When sending to Canada, you need the recipient's SWIFT code, not a routing number.

What's the cheapest way to send money to Canada?

Digital payment services like Wise typically offer the lowest total cost for amounts over $500 because they charge lower fees and use better exchange rates than banks. For smaller amounts, the setup time may not be worth it. Compare the total cost (fee plus exchange rate difference) across your options before deciding.

Can I send money to a Canadian credit card or PayPal account?

Most bank transfers require a Canadian bank account, not a credit card or PayPal. However, some digital services like Remitly allow you to send to a mobile wallet or cash pickup location in Canada. Check with the service to see what delivery methods they support.

What if I send money to the wrong account by mistake?

Contact your bank or service immediately. For wire transfers, banks can sometimes recall the payment within a few days, but this is not may provide. For ACH and digital transfers, recovery is slower. The money is usually returned to your account within five to ten business days if the receiving bank rejects it, though some banks charge a reversal fee.