Wire Transfer Time: Canada to USA - Expectations & Options

U.S. and Canadian flags

If you need to send money from Canada to the U.S. there are a few options, times can vary from 24 hours to more than a week.

Options

There are three main ways of sending money quickly from Canada to the U.S. These are: through an International bank transfer, with an on-line transfer or with a pre-paid debit card.

Bank transfers

Bank

Banks with International reach, such as The Hong Kong Bank of Canada (HSBC), offer fast transfers (one to two business days). Both sender and recipient must be HSBC clients.

Transfers using banking on-line (such as Interac email money transfer) can be quickly done, often in hours, but are limited to banks with partners in the other country, such as the Bank of Nova Scotia (Scotiabank) in Canada and Bank America, its partner in the U.S.

PayPal

Keyboard

Electronic transfers between accounts in the U.S. and Canada through PayPal are immediate, but taking money out of PayPal and depositing into either a Canadian Bank account or a U.S. one can take five to seven business days.

Pre-paid Debit Card

One newer option is a prepaid debit card, which can be mailed to a recipient in Canada or the U.S. (PIN numbers can be sent separately or by e-mail.) One example of this is ATMCash. The length of time this takes depends on the mail system and the mailing method chosen, ExpressPost is a fast option and takes one to two business days.