Overview

An international transfer is a method of transferring money to an individual, business, or charity in another country. We partnered with Wise to bring secure and quick international transfers to Wealthsimple chequing accounts. You can send up to $1,000,000 CAD each day.

When you send an international transfer from your chequing account, you'll see

• the amount you're sending,
• fees,
• your exchange rate,
• how much your recipient gets, and
• when the transfer should arrive.

Most transfers arrive in under a minute, but transfer speeds can vary. The time it takes depends on factors like the currency you're sending, the amount, and your payment method. In some cases, extra security checks or the receiving bank's own processing times can also cause delays.

Fees

We calculate your transfer fee based on the currency, the amount you send, and the mid-market exchange rate. This means there are no hidden fees in the exchange rate, just the live mid-market rate and a small fee to cover our costs. We show you all fees upfront before you send a transfer, so there are no surprises.

Send an international transfer

Depending on where you're sending funds to, you may need different pieces of bank account information from your recipient. Always confirm the information with your recipient before sending a transfer to prevent any mistakes or delays. You can send a maximum of $1,000,000 CAD per day.

Follow these steps to send an international transfer:

Supported currencies, countries, and delivery timelines

Review our supported currencies, eligible countries, and delivery estimates below:

Transfer methods by currency

USD/EUR/GBP currencies offer additional transfer options. The following highlights the benefits of each method.

USD transfer methods

ACH

• Best for: Non-urgent transfers to the US
• Speed: 1 to 3 business days
• Cost: No additional fees

Wire

• Best for: Urgent, high-value transfers to the US
• Speed: Same day (if initiated during banking hours)
• Cost: Higher fees than ACH (typically $12-$20)

SWIFT

• Best for: Transfers to countries outside the US
• Speed: 1-5 business days
• Cost: Additional fees are applicable

EUR transfer methods

Inside Europe (SEPA)

• Best for: Transfers to banks within the SEPA region
• Speed: Usually 1-2 business days
• Cost: No additional fees

Outside Europe (SWIFT)

• Best for: Transfers to non-SEPA countries
• Speed: 1-5 business days
• Cost: Additional fees are applicable

GBP transfer methods

Local UK bank account

• Best for: Transfers to UK banks using sort code and account number
• Speed: Usually same day via Faster Payments
• Cost: No additional fees

IBAN

• Best for: Transfers to Europe
• Speed: Usually 1-2 business days
• Cost: No additional fees

SWIFT

• Best for: Transfers to countries outside of the UK
• Speed: 1-5 business days
• Cost: Additional fees are applicable

Troubleshoot a delayed transfer

Most transfers arrive in under a minute, but transfer speeds can vary. Please review our delivery estimates for more information. Once you send an international transfer, you must reach out to the recipient to confirm if they received it. We can't confirm if the money has reached your recipient's bank.

There are a few reasons why your transfer might take longer than expected to deliver. Review the reasons below:

There's a mistake in the recipient's details

There might be a mistake in the recipient's details. When this happens, some banks can still process the transfer, but it takes a little longer for them to match it to the right account. Other times, they'll send the money back, and you'll have to send it again.

Next step: Wait for the maximum delivery time in case the recipient's bank can process the transfer. If they can't, you'll receive an email notifying you that the transfer was unsuccessful, and that the money has been returned to your chequing account. Please confirm the recipient's details with them, then submit a new transfer. 

It's a weekend or holiday

If you're sending money over the weekend or before a holiday, it may only get processed the next working day. This is because we work with banks, which won't typically process money transfers on a non-working day. Keep in mind that holidays in the recipient's country may also affect the time to deliver.

Next step: Ask your recipient to let you know if they receive the funds after the holiday. Please check the maximum delivery time for the currency you sent. 

The recipient's bank might be processing the transfer

It can take a few business days for a transfer to reach the recipient's bank and for them to process it. The extra time it takes also depends on the currency you're sending to.

Next step: Ask your recipient to check their email for an email from Wise. This email includes a link to track the transfer, which provides the most up-to-date information.

The sender name might be different at the recipient's bank

The recipient might not see a transaction from your name on their bank statement.

Next step: Ask them to look for a transaction from Wealthsimple instead. The transfer might also come from one of our partners, Wise or TransferWise. The amount received should still help them find the transaction.

The currency of the recipient's bank might not be compatible with your transfer

Your recipient's account may be in a different currency than the one you've sent them. If that's the case, they could get a different amount from us because their bank might have to convert the money.

Next step: Wait the maximum delivery time in case the recipient's bank can process the transfer. If they can't, you'll receive an email notifying you that the transfer was unsuccessful, and that the money has been returned to your chequing account. Please confirm the currency of the recipient's bank with them, then submit a new transfer. 

Returns

In some cases, the recipient's bank might reject the transfer and return the funds. This could happen if there's a mistake in the recipient's details.

When the recipient's bank returns the funds to us, we will immediately add the funds back to your chequing account, and you will see a status of Reversed in your Activities. We can't speed up the return process as it is dependent on the recipient's bank.

Frequently asked questions