CAD to USD: How Canadians Can Send Money to the US in 2025

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Whether you're paying a US subscription, sending money to family living in the US, funding a US brokerage account, or paying a US contractor, you need a reliable way to move Canadian dollars into US dollars across the border. The method you choose determines how much of your CAD actually arrives as USD.

This guide compares the four main options for Canadians sending CAD to USD, ranked by cost and practicality.

CAD to USD Transfer Methods Compared

The table below compares the four main methods on a CA$1,000 transfer (approximately US$720 at a mid-market rate of 1 CAD = 0.7194 USD).

Method 1: Wise (Best Rate and Transparency)

Wise is the strongest option for most CAD-to-USD transfers. It converts at the real mid-market rate and charges a transparent fee of approximately 0.55%–0.65% of the transfer. On CA$1,000, the fee is roughly CA$6. The recipient in the US receives the funds in USD directly to their US bank account, typically within one business day.

Wise is well-suited for:

• Sending money to family in the US
• Paying US freelancers or contractors
• Funding a US bank account or brokerage
• Paying recurring US bills (rent, tuition, subscriptions)

To send via Wise: create an account, enter the CAD amount and the recipient's US bank details (routing number + account number), and confirm the fee and rate before submitting. No wire fee on the recipient's end — funds arrive as a standard ACH deposit.

Method 2: Canadian Bank Wire Transfer

Every major Canadian bank offers international wire transfers to US accounts. The process is straightforward: log in, enter the recipient's US bank details, and authorize the transfer. However, the cost structure makes bank wires one of the more expensive options.

Canadian banks typically apply a 2.5%–3.0% exchange rate markup on the CAD-to-USD conversion, plus a flat outgoing wire fee of CA$15–$50. The receiving US bank may also deduct an incoming wire fee of US$10–$20. On a CA$1,000 transfer, the total visible and hidden costs can reach CA$60–$90.

Bank wires are best reserved for large, time-sensitive transfers where you need the security and traceability of the banking system — such as real estate deposits or large investment transfers — and the percentage fee matters less relative to the amount.

Method 3: PayPal

PayPal allows CAD-to-USD transfers between PayPal accounts. When PayPal performs the currency conversion, it applies a 3.5% spread over the mid-market rate. Additional fees apply if you are sending as a payment to a business or freelancer rather than a personal transfer.

PayPal is most practical when:

• Both you and the recipient already use PayPal
• The amount is small (under US$200) and speed or convenience matters more than the fee
• You are paying for goods or services through a platform that uses PayPal

For larger amounts or regular transfers, the 3.5% spread adds up quickly. On CA$5,000, the PayPal conversion markup alone is approximately CA$175.

Method 4: Credit Card in USD

If you are paying a US bill directly (not sending money to a person), a no-foreign-transaction-fee credit card billed in CAD is a competitive option. The Visa/Mastercard network rate is typically within 0.5–1% of mid-market, and with no FX fee charged by the card issuer, total cost is often the second-lowest after Wise.

This method only works for direct payments — you cannot use a credit card to send USD to another person's bank account. It is most useful for paying US subscription services, online retailers, or vendor invoices.

Frequently Asked Questions