Yes, you can transfer money to a Canadian bank account from the US, but the method and cost depend on where your money is now and how fast you need it to arrive

The most common routes are wire transfers through your bank, online money transfer services like Wise or OFX, and ACH transfers if both accounts are at institutions that support cross-border ACH. Wire transfers arrive in one to three business days but cost $15 to $50. Online services often charge less and give better exchange rates, but take two to five business days. ACH is cheapest if available, but slowest—typically five to ten business days.

The specific option available to you depends on which US bank you're sending from, which Canadian bank you're sending to, and whether you're moving your own money between your accounts or sending it to someone else. Each route requires different information from the receiving account holder and has different fraud protections in place.

Key Takeaways

  • Wire transfers are fastest (one to three business days) but cost the most ($15 to $50 per transfer).
  • Online transfer services like Wise and OFX usually offer better exchange rates and lower fees ($3 to $15) but take longer (two to five business days).
  • You will need the Canadian account holder's full name, bank name, account number, and routing number (called a SWIFT code or IFSC code in Canada).
  • Cross-border ACH transfers exist but are rare; ask your US bank whether they support them, as many do not.
  • The Canadian bank may hold the funds for one to three business days after arrival before releasing them to the account holder.

Wire transfers: fastest but most expensive

A wire transfer moves money directly from your US bank to the Canadian bank. Call your bank's wire transfer department or log into your online banking portal and select "send wire transfer" or "international wire." You will need the receiving bank's SWIFT code (a five to eight character code that identifies the bank), the account holder's full name exactly as it appears on the account, the account number, and the branch transit number if the Canadian bank requires it.

Most US banks charge $15 to $50 per outgoing wire. The receiving Canadian bank may charge a fee on their end as well, typically $5 to $15. The money usually arrives within one to three business days, though some Canadian banks hold incoming international transfers for an additional one to three business days before releasing them. Ask the receiving bank's customer service how long they typically hold before crediting the account.

Wire transfers are irreversible once sent. If you send money to the wrong account, you cannot get it back through the bank—you would have to contact the receiving bank and ask them to return it, which they are not required to do. Verify the account number and name three times before confirming the transfer.

Online transfer services: lower fees and better rates

Services like Wise, OFX, Remitly, and MoneyGram let you send money online without going through your bank. You create an account, enter the amount and the receiving account details, and the service handles the transfer. Fees are typically $3 to $15, and the exchange rate is usually closer to the real mid-market rate than what your bank offers—meaning you lose less money to currency conversion.

The tradeoff is speed. Most online services take two to five business days to deliver money to Canada. Some offer expedited options for an extra fee, but even those rarely beat a wire transfer's timeline. You will still need the same information from the receiving account: full name, account number, bank name, and SWIFT code.

These services are regulated differently depending on which one you use. Wise is a licensed money transmitter in most US states. OFX is regulated by the Financial Crimes Enforcement Network (FinCEN). All of them require identity verification before you can send money, which means you will need to upload a photo ID and sometimes proof of address. This verification can take a few hours to a few days the first time you use the service.

ACH transfers: cheapest but rarely available for Canada

ACH (Automated Clearing House) transfers are the cheapest way to move money between US bank accounts—often free or $1. Some US banks have begun offering cross-border ACH to Canada, but it is not standard. Call your bank and ask whether they support "ACH to Canada" or "cross-border ACH." If they do, the process is the same as a domestic ACH: you provide the account number and routing number, and the money moves in five to ten business days with no wire fee.

The catch is that most banks do not offer this yet. If your bank does not, you will need to use a wire transfer or an online service instead. Do not assume ACH is available—ask first.

What information you need from the receiving account

Regardless of which method you choose, you will need the same core details from the person receiving the money. Ask them to provide all of this before you initiate the transfer:

  • Full name exactly as it appears on the account
  • Canadian bank name
  • Account number
  • SWIFT code (five to eight character code identifying the bank)
  • Branch transit number (if the bank requires it; some do, some do not)

If any of this information is wrong—especially the account number or name—the money may be sent to the wrong account or rejected entirely. Some banks will return rejected transfers automatically; others will not. Verify everything twice.

How long the money actually takes to arrive

The timeline depends on the method and the receiving bank. Wire transfers usually arrive within one to three business days, but the Canadian bank may hold the funds for an additional one to three business days. Online services typically take two to five business days total. ACH, if available, takes five to ten business days.

Weekends and Canadian holidays slow everything down. A transfer initiated on a Friday may not move until Monday. If the receiving bank is closed for a holiday, the transfer waits until they reopen. Always tell the person receiving the money that they should expect the funds to arrive within the longest timeline for your chosen method, not the shortest.

If money does not arrive within the expected window, contact your bank or transfer service when ready. They can check the status and tell you whether the transfer is still in transit, held by the receiving bank, or stuck due to an error.

Fraud prevention and what to watch for

International transfers are a common target for fraud. Scammers often pose as someone you know and ask you to send money urgently to a Canadian account. Before you send anything, verify the request through a separate communication channel—call the person directly using a number you know is theirs, or ask them in person.

Your bank and transfer services have fraud detection systems that may flag large or unusual transfers and ask you to confirm. This is normal and protective. If you receive a call from someone claiming to be your bank asking you to confirm a transfer you did not initiate, hang up and call your bank directly using the number on your card or statement.

Once money is sent via wire transfer, it is gone. You cannot reverse it. Online services and some banks offer limited protection if you send money to a fraudulent account, but the protection is not may provide. Only send money to accounts you trust and have verified independently.

Frequently Asked Questions

Do I need to report large transfers to Canada to the IRS?

If you are sending more than $10,000 in a single transfer or multiple transfers that total more than $10,000 in a calendar year, your bank is required to file a Currency Transaction Report (CTR) with FinCEN. This is automatic and does not require you to do anything. If you are trying to avoid this reporting requirement by breaking up transfers, that is structuring, which is illegal. Just send the money normally.

What if the Canadian bank rejects the transfer?

Banks reject transfers for several reasons: wrong account number, name mismatch, account closed, or sanctions screening. If your transfer is rejected, the money returns to your US account, usually within five to ten business days. Contact the receiving bank to find out why it was rejected, correct the information, and try again.

Can I send money to a Canadian account if I do not have a US bank account?

Yes. Online transfer services like Wise and Remitly accept transfers from debit cards, credit cards, and some prepaid cards. You do not need a bank account, but you will still need to verify your identity. The fees and timelines are the same as if you were sending from a bank account.

Is there a limit to how much I can send?

Your bank or transfer service may have daily or monthly limits. Wire transfers often have higher limits than online services. Ask your provider what your limit is before you try to send a large amount. If you need to send more than the limit allows, you can split it across multiple days or contact customer service to request a temporary increase.

Will the Canadian bank charge a fee on top of what I pay?

Yes, usually. Most Canadian banks charge $5 to $15 to receive an international wire transfer. Some charge less for online transfers. The receiving bank deducts their fee from the amount that arrives, so if you send $1,000 and the receiving bank charges $10, the account holder receives $990. Ask the receiving bank what their fee is before you send, so you know how much will actually arrive.