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Canada and Australia are two nations with a strong global relationship and a long history of international ties. We’re good friends with our fellow Commonwealth nation and Canada is a favourite holiday destination for many Australian tourists.
Because of this, many people find themselves needing to send money from Australia to Canada for one reason or another. It’s quite quick and easy to send money to Canada, but it is important that you shop around for the best and most affordable transfer method.
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Due to the strong ties between our two countries and because the Canadian Dollar is commonly traded on global markets, the vast majority of Australian financial institutions will be able to take care of your international money transfer.
However, banks regularly offer quite poor exchange rates and high fees on international money transfers, which can end up costing you quite a lot of money. In many cases you’ll be much better off if you utilise the services of a specialist online money transfer company. These providers are experts at transferring funds abroad and offer better exchange rates and lower fees than banks.
For an idea of just how much you can save using a specialist provider, check out the case study below.
Robyn is living in Australia on a working Visa and she wants to send $5,000 of the money she has earned back home to her parents in Canada. Always on the lookout for a bargain, Robyn is concerned that her bank doesn’t offer a great deal on international money transfers and decides to compare the features of a dedicated money transfer company.
| Bank | Money Transfer Company | |
|---|---|---|
| Exchange rate | 1 AUD = 0.93 CAD | 1 AUD = 0.97 CAD |
| Transfer fee | $25 | $4 |
| Transfer time | 2-5 days | 1-3 days |
| Transfer options | Online, in branch | Online |
| Amount received for $5,000 (in CAD) | $4,650 | $4,838.62 |
As you can see, not only can Robyn enjoy a substantial saving on the transfer fee when using a money transfer company, but she also sends almost $190 more thanks to the better exchange rate.
You can choose from the following international money transfer options when you need to send money to Canada:
There are certain situations where you may have to send money to Canada as quickly as possible, such as if you need to transfer funds to a relative who is in desperate need of cash. Whenever you need to lodge a transfer as quickly as possible, don’t forget to double check the exchange rate and fees that will be charged by your chosen provider. Although time may be crucial, taking a few extra steps to ensure you’re fully aware of what sort of deal you’re signing up for will prevent you getting any nasty surprises down the track.
Back to topMoney Mart #0247
952 Granville St
Vancouver, BC V6Z 1L2
604-677-8278
Open 9am to 9pm Monday to Saturday, open 11am to 5pm Sunday
110 550 Burrard Street
Vancouver, BC V6C 2B5
604-688-6663
Open 8:30am to 5:30pm Monday to Friday
Money Mart #880
241 Yonge Street
Toronto, ON M5B 1N8
416-367-2927
Open 8am to 10pm Monday to Friday, 9am to 9pm Saturday and 10am to 6pm Sunday
600 Fleet St
Toronto, ON M5B 1B7
416-777-2505
Open 12pm to 7pm Monday to Friday, 9:30am to 3pm Saturday
City Park Express - Canada Post
349 Georgia St W
Vancouver, BC V6B 4Z3
(604) 682-6063
Open 9:30am to 6pm Monday to Saturday
11 - 200 Burrard St
Vancouver, BC V6C 3L6
(604) 681-8699
Open 9am to 5pm Monday to Friday
Shoppers Drug Mart 1402 - Canada Post
10 Dundas St E
Toronto, ON M5B 2G9
(416) 591-1733
Open 9am to 9pm Monday to Friday, 10am to 9pm Saturday, 12pm to 9pm Sunday
31 Adelaide St E
Toronto, ON M5C 1J4
(416) 214-2353
Open 8:30am to 5:30pm Monday to Friday
Unlike many other parts of the world, Canada is listed as a safe country by the Department of Foreign Affairs and Trade, with travellers advised to ‘exercise normal safety precautions’. So while crime is considered to be less of a problem than in other countries, you’ll still need to be careful when picking up a cash transfer. Take a friend with you for extra security and make sure to keep your cash concealed from strangers. If possible, head straight to a bank to deposit the cash into your account.
Back to topAs there are several options you can choose from when sending money to Canada, the exact process for lodging and completing a transfer will differ depending on the method you choose.
Typically, however, you will need to open an account with your provider of choice, which could include you providing the following information:
Once you have opened an account and placed your transfer, you will receive a receipt which will allow you to monitor the progress of your transaction until it is completed.
If you want to send money to Canada, you have plenty of international money transfer providers to choose from. Just make sure to do your research and shop around for the best possible deal.
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