The Best Companies for Transactions in Canada

ELI Canada

Millions of dollars are sent to and from people and businesses in Canada every year. To spare our clients money, time, and unneeded concern, this overview will provide a thorough explanation of the finest Canadian Money Transfer Companies.

Why should you use them?

Complementary solutions to the conventional payments provided by financial institutions are provided by money transfer businesses. These businesses go above and above by providing more effective, cost-effective, and readily available cross-border financing options to enhance the client experience.

By utilizing cutting-edge technology that enables Canadian company transfer money between nations, it can provide financial institution services.

Because such enterprises have lower overhead costs, online money transfer companies without physical presence may provide more affordable rates.

Canadian money transfer companies

  • Wise

Wise, a UK-based company that is widely regarded as the greatest expert in the area of money transfers, opened an office in Canada to serve the needs of its North American clients. The primary draw that keeps clients returning to Wise is the complete openness promised throughout the procedure.

  • OFX

With more than thirty years of transfer activity, OFX is a dependable and well-respected service provider for anybody transferring money abroad. Clients at OFX may select from 50 various currencies, all of which have negligible convertibility markups and no fees.

  • Azimo

200 nations and territories throughout the world are included in the company’s extensive network of disbursement locations, all of which provide competitive rates of exchange and cheap remittance costs. Additionally, Azimo does not impose a minimum transfer threshold on its users, allowing them to transmit as much money as they need from one nation to another.

  • Instarem

The company’s promise to match middle-market rates for global currency transactions without using any type of fx spread is Instarem’s main selling feature. Customers gain from minimal fees, a devoted customer support team, and 0% profit margins related to currency transactions.

  • Cornerstone FX

As a provider of cloud-based online remittances, currency risk management, and digital account services, this financial technology company distinguishes itself from competitors in the remittance market. Due to the company’s set cost structure, which favours bigger payments and offers charge-free services to clients moving monies above £5,000, it is ideally suited to manage big global business payments.

  • Remitbee

This Canadian payment processing business strives to offer competitive options for moving money abroad. Remitbee was founded in 2015 and has since established a reputation as a reliable service provider for Canadians wishing to send low-cost transfers abroad. The company’s network of disbursement partners covers 50 different countries. Remitbee offers extremely low conversion rates to help consumers avoid paying hefty bank fees with their hard-earned money.

  • Paysend

Paysend has amassed 4+ million users in 5 years despite being a fairly young disruptor on the transnational remittance landscape. Paysend got a money service business license in December 2019 that allows it to conduct business in Canada. The same month, the company also won the Finovate Spring Awards’ Leading FinTech Product honour. Its strict adherence to high-security standards, which is one of its most distinguishing features, makes it a very reliable and safe platform for online money transfers.

  • Remitly

Since it was established 11 years ago, this online transfer of funds business has experienced exponential growth. Remitly was initially exclusively intended for US consumers, but it has now grown to serve 15 more nations, including Canada. Along with providing some payment options, including cash transfers, bank transfers, credit card transfers, and e-wallet transfers, the firm has created a user-friendly smartphone application that Canadian consumers may download for free.

  • AFEX

American money transfer company AFEX began operating in Canada in 2011 as part of its goals for global growth. The business has developed a broad disbursement network that can accommodate more than 90 different currencies, both common and uncommon.

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