**Please review the disclaimer at the end of this document before reading or using this guide.

As a new immigrant in Canada, you may want to send money back home to support your family and loved ones. Understanding the different methods available and how to use them effectively is important to ensure your money reaches its destination safely and affordably. This guide provides information on how to send money internationally from Canada.

Step 1: Choose the Right Money Transfer Method

There are several methods available to send money internationally from Canada, each with its own benefits and costs. Here are some of the most common options:

1. Banks:
   • Wire Transfers: Most Canadian banks offer wire transfer services that allow you to send money directly from your bank account to a recipient’s bank account overseas.
   • Pros: Reliable, secure, and convenient if you already have a bank account in Canada.
   • Cons: Typically involves higher fees and less favorable exchange rates compared to other methods.
2. Online Money Transfer Services:
   • Platforms: Companies like Wise (formerly TransferWise), Remitly, TapTapSend and WorldRemit allow you to send money online or through mobile apps.
   • Pros: Lower fees, competitive exchange rates, and fast transfer times.
   • Cons: Requires an internet connection and may have limits on how much you can send.
3. Money Transfer Operators (MTOs):
   • Services: Western Union and MoneyGram are popular options that allow you to send money both online and in person at agent locations.
   • Pros: Widely available, with many payout locations worldwide.
   • Cons: Can be more expensive due to fees and less competitive exchange rates.
4. Peer-to-Peer (P2P) Transfers:
   • Platforms: Services like PayPal offer international money transfers.
   • Pros: Convenient for small amounts and often integrates with your existing online accounts.
   • Cons: Fees can be higher for certain currencies or payment methods.
   • When using peer-to-peer transfer, please do it with someone you personally know or trust. Never do this with anyone who you don’t know, because a lot of scams happen in P2P transfers. Its extremely important to remain careful about who you deal with. 

Step 2: Compare Fees and Exchange Rates

1. Understand the Costs:
   • Money transfer fees vary widely depending on the service, the amount sent, and the destination country. Some services charge a flat fee, while others charge a percentage of the transfer amount.
2. Exchange Rates:
   • Exchange rates can significantly impact the amount your recipient receives. Check the rates offered by different providers to ensure you’re getting the best deal.
   • Use online comparison tools like Wise’s Exchange Rate Comparison or Monito to compare fees and rates across providers.

Step 3: Set Up Your Transfer

Once you’ve chosen a method, follow these steps to set up your transfer:

1. Create an Account:
   • If you’re using an online service or app, you’ll need to create an account. This typically involves providing your personal information and verifying your identity.
2. Provide Recipient Details:
   • You’ll need to enter the recipient’s full name, address, and bank details (if applicable). Ensure all information is accurate to avoid delays.
3. Select Transfer Amount and Currency:
   • Enter the amount you want to send and choose the currency for the transfer. Some services allow you to lock in the exchange rate at the time of sending.
4. Choose a Payment Method:
   • Depending on the service, you can pay using a bank account, credit card, debit card, or even cash at an agent location.
5. Review and Confirm:
   • Review the details of your transfer, including fees and exchange rate, before confirming. Make sure everything is correct to avoid any issues.

Step 4: Track Your Transfer

1. Tracking Information:
   • Most money transfer services provide a tracking number or reference code that you can use to monitor the status of your transfer.
2. Confirmation:
   • You and your recipient should receive confirmation once the transfer is complete. This usually includes an email or SMS notification

Step 5: Understand the Timing

1. Transfer Times:
   • Transfer times vary depending on the service and destination. Some transfers are instant, while others can take several business days.
   • Express services are available if you need to send money quickly, but they may come with higher fees.
2. Delivery Options:
   • Depending on the service, your recipient can receive the money directly into their bank account, in cash at a pickup location, or via mobile wallet.

MOST IMPORTANTLY – Ensure Security and Avoid Scams

1. Choose Reputable Services:
   • Always use well-known and reputable money transfer services. Avoid companies with poor reviews or unclear terms and conditions.
2. Beware of Scams:
   • Be cautious of unsolicited offers or requests for money transfers from unknown sources. Scammers often target new immigrants with fake offers or threats.
3. Secure Your Information:
   • Protect your personal and financial information when using online services. Use secure passwords and enable two-factor authentication if available

Additional Tips for New Immigrants

1. Keep Records:
   • Always keep a record of your transactions, including receipts and confirmation numbers, in case you need to track the transfer or resolve any issues.
2. Budget for Fees:
   • Factor in the cost of transfer fees when planning your budget to avoid any surprises.
3. Plan for Exchange Rate Fluctuations:
   • Exchange rates can fluctuate, affecting the final amount your recipient receives. Consider sending money when the rates are favorable.
4. Check for Promotions:
   • Some money transfer services offer promotions for new customers, such as fee waivers or better exchange rates. Look for these deals to save on your first transfer.

Sending money internationally from Canada to your loved ones back home is a straightforward process when you choose the right service, compare costs, and ensure security. By following this guide and staying informed about your options, new immigrants can confidently and efficiently support their families and communities abroad. Welcome to Canada, and may your financial contributions bring comfort and support to your loved ones back home!

**DISCLAIMER: This document was prepared based on information gathered from various online sources. While our aim is to provide accurate and helpful information to newcomers in Canada, Active Action cannot be held responsible for any actions, outcomes, or situations that may arise from the use of this document. We strongly recommend that you verify any details with official sources or relevant authorities if you have any doubts or uncertainties about any information provided in this document. If you have any specific questions about the information in this document, or if you notice any inaccuracies or missing information, please inform us immediately through the contact form. We will respond to you as soon as possible and/or update the information as necessary.