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Top 3 Money Transfer Providers for USA to Canada

Provider Amount Received Fee Exchange Rate Speed
OFX (US) OFX (US) CAD $12,830.65 No Fee 1.2831 1-4 days more...
Venstar Venstar CAD $12,953.45 £0.00 1.2953 1-3 days more...
Average US Bank Average US Bank CAD $12,624.23 $0.00 1.2624 1-5 days more...
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The dollar, the world’s most traded currency, is held on a free-float exchange rate and is fully convertible to foreign currencies Read More
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 3 Money Transfer Providers

Latest prices for transferring money from USA to Canada
Exchange Rates as of 27 December 2019, 06:35


Est. 1998

OFX provides secure and speedy international money transfers to over 300,000 people in 55 currencies at better-than-bank rates.

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Amount Received
CAD $12,830.65
USD $145.85
saved vs. banks


Est. 1990
Established in 1990, Venstar is a worldwide leader in Foreign Exchange Payments and Services.
More InfoLess Info
Amount Received
CAD $12,953.45
USD $239.85
saved vs. banks

Average US Bank

Est. 1900

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

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Amount Received
CAD $12,624.23
No saving vs. banks
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How to Transfer Money from USA to Canada

Daniel Webber
Summary written by Daniel Webber


The United States and Canada enjoy one of the most prosperous partnerships in the world, with two-way trade between the countries amounting to nearly $2 billion USD per day and accounting for hundreds of thousands of jobs on both sides of the border. The countries are close trading, investing, and political partners, and share a number of reciprocal trade, investment, security, energy, and study abroad agreements. There are no restrictions for American citizens who wish to transfer money from the US to Canada and exchange USD to CAD for trade or personal needs.

Visas, work permits and residency

American citizens with a valid US passport do not need a visa to visit or travel through Canada. US 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.

Buying property in Canada

US citizens and permanent residents are largely free to acquire property and transfer money from USA to Canada to fund the purchase. However, some restrictions do apply, depending on the province in which the property is located.

US citizens 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 a non-resident can purchase, or require additional permissions to purchase property or land that is over a certain size. Because of these restrictions, it is a good idea to find a registered Canadian realtor who can help navigate local real estate markets. A registered realtor will be able to inform the buyer of any restrictions or additional requirements that need to be met before purchasing property in Canada and trading US dollars to Canadian dollars for the purchase.


The tax treaty between the United States and Canada seeks to avoid double taxation of citizens of both countries. Currently, citizens of the United States earning global income while in Canada must declare their earnings and pay taxes on their earnings to the Canadian government, but may be entitled to a foreign income tax offset with the US government, which will allow for the provision of credits if taxes have already been paid in Canada on earned income. There are currently no restrictions on sending money to Canada.

Americans studying in Canada

Canada does not require a study permit for American citizens who plan to study in a program that is six months or less. For programs lasting longer than six months, a study permit and a temporary resident visa is required. There are no limits on transfer amounts for those who are planning to send money to Canada to support foreign studies.


US citizens living in Canada are eligible to vote by absentee ballot in American presidential, local, and general elections, but not in the Canadian Federal Election. American citizens must first register with their local voter registration office when still living in the US to be eligible to vote by absentee ballot. Once they have registered, they will receive an emailed voting ballot. This ballot must be returned by postal mail or special delivery service.


Canada provides publicly-funded healthcare to its citizens and permanent residents under the Canada Health Act, which is implemented by the 10 Provincial governments. American citizens who are only temporarily visiting Canada are strongly advised to take out travel insurance or to purchase a short-term healthcare policy to cover any overseas medical costs.

Importing from the US to Canada

The US and Canada have one of the closest, most extensive relationships between any two countries today. Their shared interests and alliances cover initiatives ranging from economics, trade, investment, defense, security, law enforcement, environment, and politics to global safety and humanitarian efforts with significant sums of US dollars traded to Canadian dollars every day. Their close economic ties are demonstrated by the high level of bilateral trade—totaling more than $2 billion per day—in goods and services between them, and by the fact that the US is the largest foreign investor in Canada. Canada is the third-largest foreign investor in the US.

The two countries also collaborate closely on a number of joint commitments to defense, security, energy, and humanitarian efforts, including sharing North Atlantic Treaty Organization (NATO) security commitments. They often work together on energy-related initiatives, as well. Canada is the largest foreign energy supplier to the US, and the countries jointly developed reliability standards for an integrated electricity grid which is operated by both countries. Along with Mexico, the US and Canada are members of the North American Free Trade Agreement (NAFTA), which helps to reduce trade barriers and liberalize regulations to enhance trade and investment capabilities between the countries in a number of areas.

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