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Top 3 Money Transfer Providers for Australia to Canada

Provider Amount Received Fee Exchange Rate Speed
OFX (prev. OzForex) OFX (prev. OzForex) CAD $9,362.90 No Fee 0.9363 1-3 days more...
TorFX TorFX CAD $9,381.82 No Fee 0.9382 1-3 days more...
Moneycorp Moneycorp CAD $9,287.24 No Fee 0.9287 1-3 days more...
FXcompared Country Guides
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AUSTRALIA
The central bank does not target a specific value for the AUD Read More
CANADA
Canada has no foreign exchange controls, making overseas money transfers to Canada or sending money from Canada simple Read More
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Top 10 Money Transfer Providers

Latest prices for transferring money from Australia to Canada
Exchange Rates as of 7 July 2020, 17:40

OFX (prev. OzForex)

Est. 1998
Celebrated international money transfer service connecting our customers when it matters most. Best-in-class global payments provider for people and businesses for over 17 years.
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Amount Received
CAD $9,362.90
AUD $434.46
saved vs. banks

TorFX

Est. 2004

Excellent exchange rates | No transfer fees | Thousands of 5 star reviews 

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FXcompared Rating
Amount Received
CAD $9,381.82
AUD $454.46
saved vs. banks

Moneycorp

Est. 1979

One-off payments | Regular payments | Great rates | Safeguarded customer funds

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Amount Received
CAD $9,287.24
AUD $354.46
saved vs. banks

WorldFirst

Est. 2004

Transparency and security | Great customer feedback rating from Feefo

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Amount Received
CAD $9,410.19
AUD $484.46
saved vs. banks

Smart Currency Exchange

Est. 2004
Smart is focused on helping clients to effectively and efficiently send and receive payments internationally
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Amount Received
CAD $9,362.90
AUD $434.46
saved vs. banks

Currencies Direct

Est. 1996

Great exchange rates | Specialist services | No added fees, 24/7 transfers | Safe and secure

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Amount Received
CAD $9,381.82
AUD $454.46
saved vs. banks

Currency Solutions

Est. 2003

Currency exchange specialists ranking No.1 on Trustpilot for the past two years

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Amount Received
CAD $9,371.41
AUD $443.46
saved vs. banks

Average Australia Bank

Est. 1800

Average of the top 9 Australian Banks costs as compiled by our own FXC Intelligence group

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Amount Received
CAD $8,980.82
AUD $30.46
saved vs. banks

RationalFX

Est. 2005
Established in 2005, RationalFX helps individuals and businesses achieve significant savings on international payments
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Amount Received
CAD $9,372.36
AUD $444.46
saved vs. banks

Global Reach (formerly FC Exchange)

Est. 2005

Great rates | One-off payments | Regular transfers | E-Money Institution | No fees for FXcompared customers

More InfoLess Info
Amount Received
CAD $9,372.36
AUD $444.46
saved vs. banks

How to Transfer Money from Australia to Canada

What is in this guide

Australia to Canada Guide

Summary

Australia and Canada are British Commonwealth members, close trading and political partners, and they share a number of reciprocal trade and study abroad agreements. There are no restrictions on transferring money from Australia to Canada. Canada is a popular destination for many Australians for both business and leisure.

Visas, work permits and residency

Australian citizens and permanent residents who have a valid Australian passport and are in good standing do not need a visa to visit or travel through Canada. Australian citizens and permanent residents are generally allowed to work and live in Canada once they have applied for the required temporary work permits or permanent residency permits. If Canadian citizenship is the goal, certain criteria must be fulfilled before achieving citizenship status, including establishing permanent residence status, having lived in Canada for the past three of four years, and passing a citizenship test. We recommend consulting Canadian embassy resources for up-to-date information on visa requirements.

Buying property in Canada

Australian citizens and permanent residents are largely free to acquire property and transfer money from Australia to Canada to fund the purchase. However, depending on where the property is located, some some restrictions will apply.

Australians who are not residents of Canada may purchase real estate, though if staying longer than six months, applying for immigrant status is required. Some Canadian Provinces limit the amount of property and/or land that a non-resident can purchase, or require additional permissions to purchase property or land that is over a certain size. In Saskatchewan, non-residents many not own land that exceeds 10 acres in size. Non-residents on Prince Edward Island who wish to purchase land over five acres in size or that is situated along a shoreline with shore frontage that is greater than 165 feet, must first apply to the Island Regulatory and Appeals Commission. In Alberta there is a restriction on owning plots of land: a non-resident may own no more than two plots of land, and total acreage cannot exceed 20 acres. Non-residents in Manitoba cannot own farmland unless they are planning on moving and living there within two years of the purchase date.

Before sending money from Australia to Canada to purchase property, it is recommended to seek the services of a Canadian realtor to help navigate the local real estate market and ensure all applicable rules are followed. It is common for Canadian real estate agents to insert clauses stating that the buyer is able to meet the financial obligations of the property purchase, and that the purchase is contingent upon a full building inspection.

Taxation

Australian citizens and permanent residents earning global income while in Canada must declare their earnings and pay taxes on their earnings, but they may also be entitled to an Australian foreign income tax offset. This offset allows for the provision of credits if taxes have already been paid in Canada. The tax credit provision is the result of a treaty established between Australia and Canada, which seeks to prevent double taxation of citizens of both countries.

Voting

Australian citizens and permanent residents living in Canada are eligible to vote by absentee ballot in the Australian Federal Election, as long as they intend to return to Australia within six years. After six years, Australians can renew their status by filing an annual declaration that they intend to return to Australia ‘at some point.’ This allows them to continue voting by absentee ballot while living abroad.

Australians studying in Canada

Currently there are 310 agreements between Australian universities and Canadian institutions. Canada requires a study permit but not a student visa for Australian citizens and permanent residents who wish to study in Canada. There are no limits on the amount of money that may be transferred to Canada to support foreign students.

Healthcare

Canada provides publicly-funded healthcare to its citizens and permanent residents under the Canada Health Act, which is implemented by the 10 provincial governments. Australian citizens and permanent residents who are only temporarily visiting Canada are strongly advised to take out travel insurance to cover any overseas medical costs. Refugees or protected persons living in Canada may be eligible for the Interim Federal Health Programme, a type of temporary health insurance coverage.

Importing from Canada to Australia

Australia and Canada have a close economic relationship, with two-way trade amounting to AUD$3.3 billion in 2013. As of 2013, Canada was Australia’s 22nd largest merchandise trading partner. Under the Canada-Australia Trade Agreement (CANATA), preferential tariffs are guaranteed on a limited range of products. Both countries are currently participating in negotiations for the Trans-Pacific Partnership free trade agreement, which seeks to eliminate tariffs on all trade between the two countries. As of 2013, the top imports from Canada were railway vehicles, sulphur and iron pyrites. Australian exports included food processors, consumer products retailers, software, financial services, and energy and mining services and equipment.

Frequently Asked Questions

Are the money transfer companies shown above safe to use?

Yes, all the companies are safe and fully-regulated money transfer services. Each are authorised and regulated by the relevant authority such as the Financial Conduct Authority(FCA) in the UK, FinCEN in the US, FinTRAC in Canada or ASIC in Australia.

How long does an international money transfer take?

The speed of delivery will depend on where the money is being from and to and how you are sending and receiving the money. Transfers sent using bank to bank transfers can depend take anywhere from minutes to days and you should check the time estimates from the relevant provider. Debit and credit card payments sometimes allow for faster transfers for smaller amounts.

How do I use FXcompared?

First review the comparison results (such as for a table above) for a given amount of money sending from Australia to Canada. Then select a provider based on factors such as price, speed, their rating and click the green button to be taken to their website. From there, you can register and sign up for an account. Once you have done that and the provider has verified your identity to ensure the money can be send safely, you will be ready to transfer money.

What payments methods can I use to send money overseas?

The results shown above are typically for bank to bank transfers. It is possible via some providers to pay in your funds for the transfer via cash, debit or credit cards as well but this is usually reserved for smaller amounts. Some providers also give you different options for how the money will be received - to a bank account (most common), to a debit card, to cash or to a digital or mobile wallet.

What if the price shown above isn’t exactly what I am offered when I try to transfer money?

There can be a number of reasons why the final price you are offered may be different to that shown in the table above. Exchange rates between two currencies change all the time and is the most common reason. Additionally, some providers offer different pricing depending what method you are using to send funds or how the funds will be received. Others may offer you a premium service for faster payments. In some cases FXcompared has a special rate with a provider and this is reserved for first time customers who sign up to the provider starting from FXcompared’s website. As prices do change often, be sure to confirm the total cost with the provider before transferring money.

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All the providers listed are regulated by the relevant authority (e.g. the FCA in the UK, FinCEN in the US, ASIC in Australia) and have been vetted by FXcompared.

FXcompared.com is an fx money comparison site for international money transfer and to compare rates from currency brokers for sending money abroad. The website and the information provided is for informational purposes only and does not constitute an offer, solicitation or advice on any financial service or transaction. None of the information presented is intended to form the basis for any investment decision, and no specific recommendations are intended.  FXC Group Ltd and FX Compared Ltd does not provide any guarantees of any data from third parties listed on this website. FX compared Ltd expressly disclaims any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from (i) any error, omission or inaccuracy in any such information or (ii) any action resulting therefrom.