Mobile money transfer apps have made international money transfers seem effortless and convenient. Gone are the days of going through stress in sending money across to friends or family in another country or paying a merchant.
Depending on the funds’ urgency and the recipient’s destination or location, there are some exceptional money transfers or cash apps suitable for sending and receiving money from and to Canada.
Domestic money transfers within Canada are straightforward and can be done with bank wire transfers, Interac e-Transfers, or money orders. On the other hand, international money transfers in Canada (sending or receiving) can be initiated with cash apps with a few simple swipes or taps on your mobile device using the mobile money transfer apps’ financial and technological development and innovations.
There are several options available to Canadians to send money across the border. We know it can be a daunting task to choose the right app. Hence, here’s our pick of the 10 best cash apps in Canada, considering the fees, services, exchange rates, ease of use and other features.
Best Cash Apps in Canada
1. Transferwise App
The Transferwise App is suitable for sending money to friends, family, or businesses in over 50 countries and currencies. You can transfer as low as $1 and as high as 1,500,000 CAD. Transferwise uses the mid-market rate and charges a small transparent fee, usually below 1%.
Transferwise app is available for download on the Google Play Store for Android and the App Store for iOS devices. With the Transferwise App, you can conveniently initiate and track international money transfers and fund your payment using a credit card, debit card, bank transfer, Apple Pay, Google Pay, Bill payment, or direct debit method.
It will be worth checking your transfer destination’s availability, as Transferwise isn’t available in all countries.
2. World Remit Canada App
The World Remit app lets you send money in about 70 currencies to 150 countries with no minimum transfer amount. The World Remit Mobile App also enables you to choose the transfer method, including bank transfer, cash pickup, mobile money, or airtime top-up.
You can download the World Remit app for Apple and Android devices on the App Store and Google Play Store. You can use the mobile app to initiate instant money transfers, calculate the exchange rates with other safe and secure transactions.
3. Currency Fair App
The Currency Fair app is suitable for fast and secure international money transfers with no hidden charges. You can execute currency exchange and money transfer with the Currency Fair exchange rate for immediate transfer. Alternatively, you can choose your own rate with the peer-to-peer marketplace.
Currency Fair app lets you send and receive money to and from over 150 countries in over 20 currencies. You can download the Currency Fair app on the App Store (iOS) or the Google Play Store (Android).
4. World First App
The World First app provides a suitable option for international payments in several supported countries and currencies, either to receive or send money. World First offers money transfer services to over 60 currencies, including Euro, British Pounds (GBP), Sri Lankan Rupee (LKR), US Dollar (USD), New Zealand Dollar (NZD), Indian Rupee (INR), and more.
The World First money transfer app is available for Android and iPhone on Google Play Store and App Store. With a few swipes and taps, you can also transfer and track your payments with the Android Smartwatch.
5. OFX Canada App
OFX money transfer app is designed for fast, secure, and simple international money transfers. With the OFX app, you can register for an OFX account, make single money transfers, track your transfers, create or edit existing recipients, view live exchange rates, and set rate alerts to inform you of any rate changes.
Formerly Canada Forex, OFX lets you transfer money in about 55 different currencies, including INR, GBP, EUR, AUD, JPY, MXN, etc. The OFX app is available for download on the App Store for iOS devices and the Google Play Store for Android devices.
6. Remitly App
The Remitly app, available on the Google Play Store and App Store, is suitable for fast and secure money transfer with competitive exchange rates and low transfer fees.
You can send money abroad from Canada with Remitly. With the Remitly mobile app, you can send money and track your transfer with email and text updates for you and the recipient. Depending on the recipient’s location, you will be prompted to choose a delivery option for your money transfer, including cash pickup, mobile money, etc.
7. PayPal Canada App
The PayPal Canada App is available for personal account customers and business account customers. The PayPal app is available on the Google Play Store and iOS App Store. PayPal app lets you send and receive money online safely domestically and internationally.
When sending money within Canada using your PayPal Canada balance or bank account, you’ll enjoy a fee-free transfer. However, the debit and credit card payment method attracts a fee. Also, there’s a fee for international money transfers.
You can initiate funds transfer with just the recipient’s email address or phone number. The recipient of the transfer must have a PayPal account to receive the money. PayPal account opening is free and simple.
PayPal is available in more than 200 markets around the world. The PayPal app enables consumers to receive money in over 100 currencies, withdraw funds in 56 currencies, and hold balances in a PayPal account in 25 currencies. PayPal has affiliate mobile payment services, including Venmo, Xoom, and Braintree.
8. XE Money Transfer App
The XE Money transfer app lets you transfer money across the world with secure transactions. It supports money transfer transactions in Canadian dollars and 59 other global currencies from over 130 countries.
When you send money via the XE Mobile App, you can also track your transfers and get access to live exchange rates. The XE app does not support cash pickup or mobile payments.
The XE currency app is available on App Store and Google Play for Apple and Android mobile devices.
9. Western Union App
The Western Union Money Transfer App is suitable for sending money across the world to more than 200 countries and territories, calculating estimated fees, tracking transfers and finding the nearest agent locations. The free Western Union Money Transfer app saves you time to send money abroad for cash pickup or direct deposit to the recipient’s bank account.
You can pay for your transfers at any of the over 3000 Western Union agent locations across Canada. It’s important to check the fees applicable to your transfer, as fees and rates vary depending on the transfer method.
The Western Union app is available on the App Store (iOS) and Google Play Store (Android).
10. MoneyGram App
The MoneyGram app is one of the easiest methods to send and receive money and pay bills. MoneyGram has about 350 thousand agent locations in over 200 countries and territories, including Canada. You can find your transfer with a bank transfer, credit card, debit card, or cash.
You can download the MoneyGram app on Google Play Store or the App Store for Android and iPhone.