Sending money overseas has never been easier, faster, and more convenient than it is today. Technological advancements have disrupted almost every modern industry, and financial services are no exception. Mobile money transfer apps have transformed how we send funds internationally – all you need is a smartphone and a few clicks to send payments to virtually any corner of the world.
Best International Money Transfer Apps In Canada
There’s a wide range of mobile money transfer apps to select from, all of which have their own unique features:
| Transfer Fee | Transfer Speed | App | |
| KOHO | Varies by destination and amount | 30+ minutes | – Google Play – App Store |
| Simplii Financial™ | $0 | 1 – 3 business days | – Google Play – App Store |
| Western Union | Depends on the transfer amount, payment type, delivery option, and country | Same day | – Google Play – App Store |
| Remitly | Varies by transfer amount, payment method, and delivery option | 0 – 5 days | – Google Play – App Store |
| WorldRemit | Varies by destination and delivery method | Within 1 business day (depending on destination) | – Google Play – App Store |
| XE Money Transfer | Varies by transfer amount, speed, method and destination | Same day | – Google Play – App Store |
| OFX | – $15 CAD for transfers less than $10,000 CAD – Free for transfers more than $10,000 CAD | 1 – 2 days | – Google Play – App Store |
| Wise | Varies by currency and transfer amount | 1 – 2 days | – Google Play – App Store |
KOHO International Money Transfer App
KOHO is a digital banking app that offers spending, savings, and cashback rewards. It helps users better manage their finances with budgeting tools with no hidden fees. KOHO also offers an international money transfer service that lets users send money abroad with low fees and competitive foreign exchange rates.
Powered by Wise, KOHO’s money transfers are safe, quick, and available in several currencies and to multiple countries, making it a great tool for payments across the globe.
| Number Of Countries | 190+ |
| Transfer Fees | Varies by destination and amount. |
| Delivery Speed | 30+ minutes |
| App Availability | Google Play App Store |
KOHO International Money Transfer App Features
- No Hidden Costs: KOHO’s transparent pricing model means you’ll see exactly how the transfer will cost you before you hit the send button.
- Fast Transfers: Money sent usually arrives within 30 minutes in most scenarios.
- Wide Reach: Send funds to over 190 countries.
- Security: KOHO’s international money transfers are powered by Wise, which ensures secure transfers.
How To Send Money Using KOHO’s International Money Transfer App
To send money using the KOHO app, follow these steps:
- Open the KOHO app.
- Go to the Send Money section.
- Enter the recipient’s name and email address.
- Enter the amount you want to send.
- Choose the payment method.
- Confirm the transaction.
Simplii Financial™ International Money Transfer App
Simplii Financial is a digital banking division of CIBC and offers several personal banking solutions, including bank accounts, investment accounts, and credit products. They also offer a low-cost way to send money internationally through their Simplii Financial Global Money Transfer service, which is available via desktop and app. Users can send money to over 130 countries in their local currency or in US dollars without incurring any transfer fees or deductions.
With Simplii Financial’s Global Money Transfer service, you can transfer up to $75,000 a day via Simplii Financial’s app. Transfers complete within 1 to 3 business days. Users can also use their Simplii™ No Fee Chequing Account, Personal Line of Credit, Secured Line of Credit or Cash Back Visa Card to fund their transfers.
| Number Of Countries | 130+ |
| Transfer Fee | $0 – Simplii Financial does not charge global transfer fees |
| Delivery Speed | 1 – 3 days |
| App Availability | Google Play App Store |
| Welcome Bonus Receive a $50 welcome bonus for Global Money Transfers when you use promo code GMTEVENT to make your first money transfer. |
Simplii Financial Global Money Transfer Features
- No Transfer Fees: Send global money transfers without paying extra fees.
- Cashback Rewards: Earn 0.5% cashback when you use your Simplii Cash Back Visa Card to pay for your transfers.
- High Transfer Limits: Send up to $75,000 per transaction.
- Multiple Transfer Methods: Send funds through bank accounts, Visa Debit/Credit, and digital wallets.
How To Send International Money Transfers With Simplii Financial’s App
To send money using the Simplii Financial app, follow these steps:
- Log in to your Simplii Financial account.
- Go to the Global Money Transfer section.
- Enter the recipient’s name and bank information.
- Choose the amount you want to send.
- Confirm the transaction.
Remitly International Money Transfer App
Remitly is a digital money transfer app that offers quick, secure, and low-cost international transfers to over 170 countries. Funds can be delivered via bank deposit, home delivery, mobile money app, or arranged for cash pickup at over 435,000 locations worldwide.
The maximum amount you can send per day varies based on your and your recipient’s location. There are also limits on how much you can send in a 24-hour, 30-day and 180-day period.
| Number Of Countries | 170+ |
| Transfer Fees | Varies by transfer amount, payment method, and delivery option. |
| Delivery Speed | Up to 5 days |
| App Availability | Google Play App Store |
Remitly International Money Transfer App Features
- Express Option: Remitly offers an Express delivery option when you need your money to get there fast.
- Quality Customer Service: Speak directly to an agent between 5 am to 11 pm or via online live chat 24/7.
- Multiple Languages: Remitly is available in 15 different languages.
- Alerts: Get updates on your transfers via the Remitly app and track every step of the process from when you send the funds to when the recipient receives it.
How To Send Money With Remitly International Money Transfer App
To send money using the Remitly app, follow these steps:
- Log in to your account on the Remitly app.
- Select “Send Money”.
- Choose the recipient’s country.
- Enter the amount you want to send.
- Choose your preferred payment method.
- Enter the recipient’s name and payment information.
- Confirm the transaction.
Western Union International Money Transfer App
Western Union’s money transfer app allows you to send funds to over 200 countries. You can pay with a credit card, debit card, bank transfer, cash, or Apple Pay.
Transferred funds can be arranged for cash pickup at one of 500,000 agent locations, which you can conveniently locate using the global agent map accessible through the app. You can also receive money via bank deposit or mobile wallet deposit.
| Number Of Countries | 200+ |
| Transfer Fees | Depends on the transfer amount, payment type, delivery option, and country. |
| Delivery Speed | Same day |
| App Availability | Google Play App Store |
Western Union Features
- Fast Transfers: Money transfers can be completed in as little as a few minutes, depending on where you’re sending the funds.
- Wide Reach: Send money to over 200 countries.
- Several Payment Options: Pay via bank account, credit/debit card, or cash pickup.
How To Send Money With Western Union App
To send money using the Western Union app, follow these steps:
- Log in to your Western Union account on the app.
- Choose “Send Money”.
- Select the recipient’s country.
- Enter the amount you want to send.
- Choose the payment method.
- Enter the recipient’s name and payment information.
- Confirm the transaction.
WorldRemit International Money Transfer App
WorldRemit is a digital money transfer service that allows users to send money using over 70 currencies to over 130 countries worldwide. The app offers flexible payment options, including credit card, debit card, bank account, and prepaid cards from Visa or Mastercard.
Recipients can accept transferred funds through bank deposit, mobile wallet deposit (including World Remit’s own mobile wallet), or cash pickup. Transfer limits vary based on your payment method, transfer type and more.
| Number Of Countries | 130+ |
| Transfer Fees | Varies by destination and delivery method. |
| Delivery Speed | Within 1 business day (depending on destination) |
| App Availability | Google Play App Store |
WorldRemit International Money Transfer Features
- Fast Transfers: Most transactions are completed within 1 business day, depending on the destination.
- Multiple Payment Options: Send money through bank transfers, debit/credit card, mobile wallet, or cash pickup.
- Wide Reach: Transfers money to more than 130 countries..
How To Send Money With WorldRemit App
To send money using WorldRemit, follow these steps:
- Log in to your account on the WorldRemit app.
- Select “Send Money”.
- Choose the recipient’s name and country.
- Enter the amount you want to send.
- Choose the payment method.
- Confirm the transaction.
XE Money Transfer App
XE Money Transfer is an app that allows users to send money globally with low fees and competitive exchange rates. XE does, however, earn a profit by marking up the exchange rate on transactions. You can choose from over 190 countries to transfer to, in over 130 currencies. Acceptable payment methods include bank transfer, credit card, and debit card.
Transferred funds can only be deposited into the recipient’s bank account – cash pickup is not available. Large transfers are permitted upon arrangement with XE’s currency experts.
| Number Of Countries | 190+ |
| Transfer Fees | Varies (based on transfer amount, speed, method and destination) |
| Delivery Speed | Same day |
| App Availability | Google Play App Store |
XE Money Transfer App Features
- Competitive Exchange Rates: Get real-time exchange rates with no hidden fees.
- Fast Transfers: Move money as quickly as the same day.
- Multiple Currencies: Send money in nearly 130 currencies.
- Wide Each: Send money to more than 190 countries.
- Track Transfers: Keep tabs on your transfers in real-time.
How To Send Money With XE Money Transfer App
To send money using the XE Money Transfer app, follow these steps:
- Log in to your account on the XE Money Transfer app.
- Select “Send Money”.
- Choose the recipient’s name, bank information, and country.
- Enter the amount.
- Choose the payment method.
- Confirm the transaction.
OFX International Money Transfer App
OFX’s app offers money transfer services for both individuals and businesses with no fees attached, except for a markup on exchange rates. You can send funds to over 170 countries using over 50 currencies.
The only acceptable payment method is bank transfer – cards are not supported. Likewise, receivers can only accept transferred funds via bank deposit. There aren’t any restrictions on the amount of money you can transfer.
| Number Of Countries | 170+ |
| Transfer Fees | – $15 for transfers less than $10,000 – Free for transfers over $10,000 |
| Delivery Speed | 1 – 2 days |
| App Availability | Google Play App Store |
OFX International Money Transfer App Features
- Real-Time Tracking: Get rate alerts and currency monitoring in real-time.
- Global Reach: Send money to over 170+ countries.
- No Transfer Fees: Don’t pay transfer fees on money sent abroad.
- Competitive Exchange Rates: Get low exchange rates with no hidden fees.
- Secure Transfers: Bank-level security and encryption are used to ensure safe transactions.
How To Send Money
To send money using the OFX Money Transfer app, follow these steps:
- Log in to your OFX account.
- Choose the recipient’s country and currency.
- Enter the amount you want to send.
- Choose your preferred payment method.
- Confirm the transaction.
Wise International Money Transfer App
The Wise app (formerly known as Transfer Wise) offers a swift verification process, full transparency on fees before you initiate your transfer, and the ability to send large sums of money to over 160 countries in dozens of currencies.
Multiple payment options are available, including bank transfer, credit card, debit card, Google Pay, and Apple Pay. Funds can only be sent to the receiver’s bank account. The transfer limit is capped at $25,000, but it could be higher or lower depending on your payment method and the transfer’s destination.
| Number Of Countries | 160+ |
| Transfer Fees | Varies by currency and transfer amount. |
| Delivery Speed | 1 – 3 days |
| App Availability | Google Play App Store |
Wise International Money Transfer App Features
- Competitive Exchange Rates: Currencies are offered at the mid-market rate.
- High Transfer Limits: Transfer as much as $25,000 via Interac e-Transfer.
- User-Friendly: Quickly and easily set up an account.
- Transparent Fee Structure: Get an accurate fee estimate before transaction execution.
How To Send Money With Wise
To send money using the Wise app, follow these steps:
- Log in to your account on the Wise app.
- Select “Send Money”.
- Choose the recipient’s country.
- Enter the recipient’s name and bank information.
- Enter the amount you want to send.
- Choose your preferred payment method.
- Confirm the transaction.
How To Get A Cash Pick-Up With A Money Transfer
As an alternative to an electronic money transfer, a cash pick-up is a payout option that allows recipients to physically collect transferred money in the form of cash from a specific location. This option may be suitable for those without a bank account.
The process of a cash pick-up is very simple and typically involves the following steps:
- You place your transfer order with your platform of choice.
- Wait for your transfer order to be processed.
- The recipient picks up their money once the order is ready.
Learn more: How To Send Money Overseas From Canada
International Money Transfer App Features To Consider
Before choosing the app that will serve your money transfer needs, you should evaluate each one based on some essential features, including:
Fees
Fees are a primary concern when it comes to any financial apps, especially if you plan on conducting transactions frequently. Ensure you understand how the company levies fees and how they calculate them. Be wary of apps that claim transactions are free, as you may incur an added cost somewhere else, such as a higher exchange rate.
Exchange Rates
Examine the exchange rates quoted on the app provider’s website to determine if they’re indeed the rates you receive when you process a transfer. Some apps offer the mid-market rate, which is the rate at which banks conduct foreign exchange transactions and is regarded as the fairest and most transparent. Other apps charge a markup on the exchange rate.
To find the app with the lowest exchange rate, use your currency’s mid-market rate as the benchmark.
Send Limits
Ensure you know the minimum and maximum amount you’re able to transfer at any given time. Some money transfer apps are better suited for larger transactions, while others are geared toward users who make infrequent transfers for small amounts.
Speed
This is the length of time it takes for your transfer to reach its destination. Speed depends mainly on your method of payment.
For instance, if you pay with a credit or debit card, your transaction will be processed relatively quickly on most apps, typically within one day. If you opt for a bank transfer, expect your funds to arrive within a few days.
Transfer Options
Most money transfer apps offer several ways for the recipient to accept transferred funds. The most common methods include bank account deposit, cash pickup, and mobile wallet deposit. Some allow you to arrange delivery of funds to the receiver’s place of residence as well.
Final Thoughts
There are many money transfer apps available, each with unique features designed to make sending funds overseas a breeze. While they all operate similarly and perform the same basic functions, there are still key differences to watch for. Some apps cater to individuals who seldom make international payments and require only a few basic features. Others offer a wide range of options that frequent users and businesses would find appealing, such as the ability to send large sums of money and lock-in exchange rates for future transfers. Conduct some research to narrow your search to the money transfer that best suits your needs.
