How much does it cost to send money from Canada to the USA?

There are no payment transfer fees. The cost is the exchange rate margin, which is fixed and set by transfer size, so a larger amount is priced more tightly than a small one. You see the full CAD to USD rate before you confirm.

How long does a Canada to USA transfer take?

Usually the same working day or the next once your Canadian dollars have cleared with us. Canada and the US share time zones, so timing rarely gets in the way.

Do I need to report the transfer to FINTRAC myself?

No. In Canada, the institution handling an international transfer of CAD 10,000 or more reports it to FINTRAC, not you. It's an anti-money-laundering measure, not a tax, and there's no form for you to submit.

Will my US recipient pay tax on money I send them?

Not usually, since US gift tax falls on the giver. But because you're sending from Canada, a US recipient must report to the IRS on Form 3520 if the total from you tops $100,000 in a year. It's a filing, not a tax, though the penalties for missing it are significant.

Does the US $19,000 gift limit apply to me?

No. The $19,000 annual exclusion is a US-donor rule for US citizens and residents. Since you're sending from Canada, it doesn't apply, what matters on your side is the recipient's $100,000 Form 3520 reporting threshold, a different rule for a different person.

Can I fix a CAD to USD rate for regular payments?

Yes. If you pay US suppliers on a schedule or are timing a property settlement, a forward contract lets you lock in a rate now for payments due later, which makes budgeting across a run of transfers more predictable.

Send Money from Canada to the US

Maybe you're paying a US supplier, funding a cross-border property or investment, or supporting family south of the border. A Currencyflow transfer usually reaches a US bank account the same or next working day at a competitive CAD to USD rate with no payment transfer fees. You can check the live CAD to USD rate before you send.

Fast, secure transfers to the USA
Competitive CAD to USD exchange rates
No payment transfer fees, transparent pricing
Support for personal and business transfers
Client funds safeguarded, FCA-authorised payment institution partner

Your funds are fully protected with Currencyflow through our FCA-regulated partner, Sciopay Ltd (FCA number 927951), and held in segregated safeguarded accounts with tier-one banks, separate from operational funds.

Send, save... & relax.

Transparent pricing, always shown upfront.

By Freddie Smith, Founder & CEO, Currencyflow · Updated 5 August 2026

Sending money from Canada to the USA? Here's what to know

Canada and the US share time zones and a deeply integrated economy, so this is about as smooth a cross-border route as there is. Most CAD to USD transfers with us reach the US account the same working day or the next once your Canadian dollars have cleared. The cost to watch is the exchange rate, not a fixed fee. Banks often show a modest charge and then apply a wider margin on CAD to USD, which adds up quickly on a larger transfer like an investment or a property payment. We charge no payment transfer fees, and our margin is fixed, transparent, and set by transfer size, so a bigger transfer is priced more keenly. The live CAD to USD page shows the market you're pricing against. To open an account you'll need photo ID and proof of address. For larger transfers, our compliance team asks for proof of source of funds, such as a pay stub, a sale statement, or evidence of savings. On the Canadian side, international electronic transfers of CAD 10,000 or more are reported to FINTRAC by the institution handling them, not by you, so there's nothing extra to file. If you're moving a large sum, our guide to large transfers sets out what to expect.

Why people send money from Canada to the USA

As each other's biggest trading partners, Canada and the US see constant transfers for business, family, property, and investment.

Business and supplier payments

Canadian firms paying US suppliers, contractors, or partners move money across the border constantly. On regular payments, a steady rate and clear pricing keep the running cost predictable rather than eroded by a wide margin each time.

Family support and study costs

With family and students spread across both countries, regular transfers for support, tuition, or living costs are routine. For payments that repeat, transparent pricing matters more than any single day's headline number.

Property and investment

Canadians buying US property, funding a snowbird home in the Sun Belt, or investing across the border move larger sums where the rate on the amount decides the final cost in US dollars. If you send the other way too, our US to Canada page covers that route.

Relocation

People moving from Canada to the US for work bring savings across, and on a full savings move the rate on the day makes a real difference to what you start with.

How to transfer money to the US from Canada

Get a personalised quote

Fill out our short online form and we'll send you a tailored CAD to USD rate based on your transfer size and timing. No obligation.

Open your account

Your account manager sets up your Currencyflow account by phone or email, whichever suits you. It's free and takes just a few minutes.

Add your funds

Send your Canadian dollars to your safeguarded Currencyflow account from your Canadian bank. We'll confirm as soon as they arrive.

We send your US dollars to the United States

We exchange your money at the agreed rate and send the US dollars to the recipient's account, usually the same or next working day.

Get a free quote

Currencyflow vs. Banks

Feature	Currencyflow	High Street Banks
Exchange rate	Fixed, transparent, competitive	Often wider and less transparent
Transfer fees	No payment transfer fees	Often charged
Speed	Same-day (most cases)	Several days
Support	Dedicated account manager	Call centre/branch
Rate lock	Forward contracts available	Rarely offered
Account setup	Free, no ongoing fees	Sometimes charged

Swipe to see more →

Understanding the CAD to USD exchange rate

Why the rate matters on this corridor

Business runs on tight margins and cross-border investments are large, so the exchange rate is what really decides the cost over time. Even on routine payments, a better rate compounds across a year of transfers.

The mid-market rate and what you receive

The mid-market rate is the midpoint quoted between banks. We apply a small, transparent margin set by transfer size, with no payment transfer fees, and show you the exact CAD to USD rate for your amount before you confirm.

How the CAD to USD rate moves

The Canadian dollar is a commodity-linked currency, sensitive to oil prices and Bank of Canada decisions, while the US dollar moves on Federal Reserve policy and global risk sentiment. The two economies are closely tied, so the pair is often relatively stable, but it still moves on oil and interest-rate news.

Fixing a rate for a future transfer

Because both sides float, the CAD to USD rate can move between now and a payment you'll make later. A forward contract lets you lock in a rate now for a scheduled business run or a property settlement, so a market move doesn't change what you've budgeted in US dollars.

Sending Canadian dollars to a US account

US banks identify an account with a nine-digit routing number (also called an ABA number) plus the account number, and they'll usually ask whether it's a checking or savings account. For an international payment from Canada you'll also need the bank's SWIFT/BIC code, so your recipient should give you the routing number, the account number, the account type, and the SWIFT code. That's a different format from Canada's transit and institution numbers, so it's worth confirming each field. Canada and the US share time zones, so a transfer funded during your day generally reaches the US account within US banking hours. If you send the other way too, our US to Canada page covers that route, and our destinations hub lists the others.

How long does a transfer from Canada to the USA take?

Most transfers arrive the same working day or the next.

•Shared time zones. Canada and the US run on the same clock, so a transfer funded in your day generally reaches the account within US banking hours the same day.
•When you fund the transfer. Sending your Canadian dollars to us earlier in the day gives the payment the best chance of completing that working day.
•First-transfer verification. Your first payment can take a little longer while your account is verified, then later transfers are quicker.
•Compliance checks on larger amounts. A big investment or property payment may need source-of-funds evidence, so having it ready avoids a pause.
•Weekends and public holidays. Bank processing pauses over weekends and public holidays in either country, which can add a day around those dates.

A bank on this route typically takes two to four working days. With us, most CAD to USD transfers land same or next working day, helped by the shared time zones.

What do you need to send money to the USA?

To send money to a US bank account, you'll need:

Photo ID, either a passport or a driver's licence.
Proof of address, such as a recent utility bill or bank statement.
The recipient's full name as it appears on their US account.
The recipient's routing (ABA) number, account number and type, and the bank's SWIFT/BIC code.
The purpose of the transfer, which we'll ask about for larger amounts.
Source-of-funds evidence for a large transfer, such as a pay stub, a sale statement, or evidence of savings.

US banks receive international payments using a routing (ABA) number, an account number, the account type, and the bank's SWIFT/BIC code, so make sure your recipient gives you all of them.

Legal and tax notes for Canada to USA transfers

•On the Canadian side, Canada has no gift tax and no inheritance or estate tax, so gifting money out or sending your own savings isn't taxed at the point of sending. What Canada does tax is capital gains, and death triggers a deemed disposition of assets, so proceeds you're moving may already have carried a gains tax before they reach you. That's a tax on the underlying gain, separate from sending the money abroad.
•International electronic funds transfers of CAD 10,000 or more are reported to FINTRAC by the provider as an anti-money-laundering measure, which is a compliance step, not a tax or a cost to you.
•On the US side, receiving money isn't taxed as income, and US gift tax falls on the giver, not the recipient. Because you're sending from Canada (a non-US person), a US recipient must report the gift to the IRS on Form 3520 only if the total from you exceeds $100,000 in a tax year, identifying each gift over $5,000 once that threshold is crossed. It's an information return, not a tax, though the penalties for missing it are steep.
•That $100,000 reporting threshold is a separate rule from the US annual gift tax exclusion of $19,000 per recipient. The annual exclusion is a donor-side rule that only applies to US citizens and residents giving gifts, so it doesn't apply to you sending from Canada. Don't confuse the recipient's $100,000 reporting threshold with the donor's $19,000 exclusion, they cover different people.
•These notes are general information, not tax advice. Cross-border investments, property, and large gifts are exactly the situations where it's worth taking professional advice on both sides.

Why trust Currencyflow

Your money is protected

Funds are held in safeguarded client accounts through our FCA-authorised payment institution partners. This keeps your money separate from business operations and protected at all times.

30+ years of currency expertise

Our leadership team has over 30 years of combined experience in currency transfers and international payments. We understand how to manage risk and keep your transfer running smoothly.

Built-in fraud protection

We use secure processes including two-factor authentication and transaction monitoring to protect your account. Every transfer is verified for safety.

Frequently asked questions

Written by

Freddie Smith

Founder & CEO, Currencyflow

Freddie Smith is the Founder and CEO of Currencyflow, an international foreign exchange and payments specialist focused on high-value transfers for individuals and businesses worldwide. With over 12 years of commercial experience across financial services and digital media, including several years working with financial services comparison platforms, Freddie has spent his career at the intersection of partnerships, growth strategy, and money movement. He founded Currencyflow to bring transparent, fixed-margin pricing and personal relationship management to clients making significant international transfers.

Last updated 5 August 2026

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