How to Transfer Money to a Canadian Bank Account

The basic route: wire transfer or domestic payment system

If you are sending money from a US bank account to a Canadian bank account, you have two main paths. The first is a wire transfer, which moves money directly between banks and usually arrives within one to two business days. The second is an ACH transfer (Automated Clearing House), which is slower but cheaper — it typically takes three to five business days and costs little or nothing.

Which one you use depends on how fast you need the money to arrive and whether you are sending from a US bank or a Canadian one. If you are already in Canada with a Canadian bank account, moving money between your own accounts is straightforward. If you are sending from the US, the wire transfer is more reliable because ACH does not work across the US-Canada border the same way it does within the US.

The Canadian bank receiving the money will need your account number and the bank's routing number (called a transit number in Canada). You will also need the bank's SWIFT code if you are wiring from outside Canada. Have these details ready before you contact your bank.

Key Takeaways

Wire transfers from the US to Canada usually arrive in one to two business days and cost between $15 and $50 depending on your bank.
You will need the receiving Canadian bank's transit number, account number, and SWIFT code (a four-letter code like ROYCCA2S for Royal Bank of Canada).
Some US banks do not offer ACH transfers to Canada, so wire transfer is often your only option for cross-border payments.
The Canadian bank may charge a receiving fee of $10 to $15, which comes out of the amount that arrives in the account.

Wire transfer: the standard cross-border method

A wire transfer is the most common way to move money from a US account to Canada. You initiate it through your US bank — either online, by phone, or in person at a branch. Your bank will ask for the receiving bank's name, the recipient's name and account number, and the transit number (a five-digit code unique to each Canadian branch).

The cost varies by bank. Most US banks charge $15 to $50 to send an outgoing wire. The receiving Canadian bank may also charge $10 to $15 to receive it. These fees are deducted from the amount that arrives, so if you send $1,000 and both banks charge $25, the recipient receives $950.

Wire transfers are final once sent. You cannot cancel or reverse them after the money leaves your account, so double-check the account number and recipient name before you confirm. If you make a mistake, you will need to contact your bank and the receiving bank to try to recover the funds, which can take weeks.

ACH transfers: slower and cheaper, but not always available

An ACH transfer is a batch payment system that processes in groups rather than individually. Within the US, ACH transfers are cheap (often free) and reliable. Across the border to Canada, they are less common. Some US banks offer them, but many do not, because the Canadian banking system uses a different clearing house called Payments Canada.

If your US bank does offer cross-border ACH, it will route your payment through a correspondent bank in Canada. This adds time — expect three to five business days instead of one to two. The cost is usually lower than a wire transfer, sometimes free or $5 to $10.

Before you attempt an ACH transfer to Canada, call your bank and ask whether they support it. If they do, they will give you the routing information. If they do not, you will need to use a wire transfer instead.

Transfers between your own Canadian and US accounts

If you own accounts at the same bank in both countries, moving money between them is usually faster and cheaper than sending to a third party. Many large banks like TD Bank, RBC, and Scotiabank have branches in both the US and Canada, and they often offer internal transfer options.

Log into your online banking and look for a "transfer between accounts" or "international transfer" option. Some banks let you set up a linked account in the other country and transfer when ready or within one business day. The fee is often waived for account holders, or charged at a flat rate of $5 to $15.

If your bank does not offer this, you can still use a wire transfer or ACH, but you will pay the standard fees. It is worth asking your bank what options exist for your specific accounts before you assume you need to go through the full wire process.

What information you need from the receiving bank

Before you initiate any transfer, gather these details from the person receiving the money or from their bank statement:

Account number: The full account number at the Canadian bank, usually 7 to 12 digits.
Transit number: A five-digit code that identifies the specific branch. It appears on cheques and online banking statements.
Bank code: A three-digit number that identifies the bank itself (for example, 003 for Royal Bank of Canada). This is sometimes called the institution number.
SWIFT code: A four-letter code unique to the bank, used for international wires. Examples: ROYCCA2S (Royal Bank), TDOMCATT (TD Bank), BKCHUS33 (Bank of America, if sending from the US).
Recipient name: The full legal name on the account, spelled exactly as it appears on the account.

If you are wiring from outside Canada, you will need the SWIFT code. If you are sending from within Canada or using ACH from the US, you may only need the transit number and account number. Ask your sending bank which details they require.

Timing and when the money actually arrives

Wire transfers from the US to Canada typically arrive within one to two business days. This means if you send on a Monday morning, the money is usually in the Canadian account by Tuesday or Wednesday. Weekends and Canadian holidays do not count as business days, so a Friday wire may not arrive until the following Tuesday.

ACH transfers take longer — three to five business days — because they are processed in batches rather than individually. The exact timing depends on when your bank submits the batch and when the Canadian clearing house processes it.

Some banks offer expedited or same-day wire options, but these cost more (often $50 to $100) and are not available for all destinations. Ask your bank whether expedited service is available if you need the money urgently.

Fees and exchange rates

When you transfer money across the border, you pay fees at both ends and you also get an exchange rate. The exchange rate is the price your bank charges to convert US dollars to Canadian dollars. This is not the same as the mid-market rate you see on financial news sites — banks add a markup, usually 1 to 3 percent.

A typical wire transfer costs $25 to $50 from your US bank, plus $10 to $15 at the receiving Canadian bank. If you send $1,000, you might pay $40 in fees and receive $960 to $970 Canadian dollars after the exchange rate markup. The exact amount depends on your banks and the current exchange rate.

Some banks offer better exchange rates if you are a premium customer or if you transfer a large amount. It is worth asking your bank whether they have any options to reduce the markup. Online transfer services like Wise or OFX sometimes offer better rates than traditional banks, though they have their own fees and timing.

Frequently Asked Questions

Can I transfer money to a Canadian account if I do not know the transit number?

You can ask the recipient to provide it, or you can contact the Canadian bank directly with the account holder's name and account number. Most banks will give you the transit number over the phone. Without it, your bank cannot process the wire, so do not try to guess or use a partial number.

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

Wire transfers cannot be reversed once they leave your bank. If you send to the wrong account, you will need to contact your bank and the receiving bank to report the error and request a recovery. This can take weeks or months, and there is no may provide the money will be returned. Always verify the account number and recipient name before you confirm the transfer.

Do I need a SWIFT code to send money from the US to Canada?

If you are sending a wire transfer, yes. The SWIFT code tells the US banking system which Canadian bank to route the money to. If you are using ACH, you may only need the transit number and account number. Ask your US bank which information they require for your specific transfer.

How much does it cost to transfer money to Canada?

A typical wire transfer costs $25 to $50 from your US bank, plus $10 to $15 at the receiving Canadian bank. You will also pay an exchange rate markup of 1 to 3 percent when your bank converts dollars. ACH transfers, if available, cost less but take longer. The exact cost depends on your bank and the amount you are sending.

Can I transfer money from a Canadian bank account to a US bank account using the same method?

Yes, the process is similar but reversed. You will need the US bank's routing number (a nine-digit code) instead of a transit number, and the SWIFT code for the US bank. Wire transfers work the same way, and some Canadian banks offer ACH-like transfers to the US through Payments Canada. Ask your Canadian bank what options they offer.

This guide is for general information only and is not medical, financial, legal, or other professional advice. For decisions specific to your situation, consult a qualified professional. See our Editorial Policy.