How to send Canadian dollars (CAD) to Canada with Grey

If you’re planning to send Canadian dollars (CAD) to Canada, you probably have a few questions about how the process works.

With Grey, you can send CAD directly to bank accounts in Canada via  bank transfer or  Interac .

In this guide, we’ll answer the most common questions and show you how to send Canadian dollars with Grey, including fees, transfer limits, timelines, and the details you’ll need before getting started.

Ways to send Canadian dollars to Canada

Grey currently supports two methods for sending Canadian dollars to recipients in Canada: local bank transfers and Interac payments.

Both methods work with personal and business bank accounts across Canada, but they differ in speed and use cases.

Bank transfers

A bank transfer sends money directly to the recipient’s bank account in Canada. It works with all major Canadian banks, which makes it a reliable option for payments like tuition, invoices, or supplier payments.

The cost is 2.50 CAD per transaction, and most transfers arrive within one business day.

There is a daily cutoff time of 18:00 Eastern Time. If you send your payment before this time, it usually begins processing the same day.

Because bank transfers move through the standard banking system, they’re often the best option for larger payments or planned transactions where instant delivery isn’t necessary.

Also read: How to send money to Canada as a freelancer

Interac transfers

Grey also supports Interac transfers, one of the most common ways people send money within Canada.

Interac is a domestic payment system that allows direct bank-to-bank transfers and is widely used across Canada for everyday payments.

Here’s how it works with Grey:

• Transfer method: In Canada, Interac transfers are typically sent using an email address or phone number. Grey uses bank account details.
• What you’ll need:
  • Recipient’s full name
  • Account number
  • Institution number
  • Transit number
  • Address (city and postal code)
• Fees: 3.00 CAD per transaction.
• Speed: Payments are usually processed in real time, and in many cases, the recipient receives the money within minutes.

Because of this speed, Interac is often the preferred option for urgent transfers or smaller payments.

Supported currencies for CAD transfers

CAD transfers can be made directly from your USD, EUR, GBP, or NGN balances, and Grey will automatically convert the amount during the transfer.

Before confirming the payment, you’ll see the exchange rate, the transfer fee, and the final amount the recipient will receive. This ensures there are no surprises once the payment is completed.

Sending limits

The transfer limits depend on whether you are using a personal Grey account or a Grey Business account.

Individual accounts

For individuals sending money:

• Minimum: 5 CAD per transaction
• Maximum: 10,000 CAD per transaction

These limits apply to both bank transfers and Interac transfers.

Grey Business accounts

Businesses sending payments have higher limits to support larger transactions.

Grey Business accounts allow:

• Minimum: 5 CAD

Maximum per transaction:

• Interac: 25,000 CAD
• Bank transfer: 100,000 CAD

These limits make Grey suitable for:

• vendor payments
• contractor invoices
• supplier payments
• international payroll

How to send Canadian dollars with Grey

Sending CAD to Canada with Grey is simple and can be completed in just a few steps.

First, log in to your Grey account and select the Send option. From there, choose your preferred payment method, either bank transfer or Interac.

Next, select Canada as the destination country and CAD as the payout currency.

You’ll then enter the recipient’s banking details and the amount you want to send.

Before confirming the payment, Grey will display a summary of the transaction, including the transfer fee, exchange rate, and the exact CAD amount the recipient will receive.

Once you confirm the payment, the transfer begins processing immediately. Interac transfers are usually delivered within minutes, while bank transfers typically arrive within one business day.

You may also like: Understanding Canadian dollar transfers to Canada in global transactions

Interac vs bank transfer: which should you choose?

Both transfer methods are reliable, but the right option depends on your needs.

Use Interac when

• the payment is urgent
• you want instant delivery
• you’re sending personal transfers

Use bank transfer when

• sending large payments
• paying tuition or invoices
• transferring business payments

Common mistakes when sending money to Canada

Many payment delays happen because of small errors during the transfer process. The most common ones include:

• Incorrect banking details: Canadian transfers rely on the correct institution number, transit number, and account number, so it’s important to double-check these before confirming the payment.
• Submitting transfers after the cutoff time: Transfers initiated after 18:00 Eastern Time may only begin processing the following business day.
• Overlooking currency conversion: If your balance is not already in Canadian dollars, conversion will apply. Always review the exchange rate before confirming the transaction.

If you're ready to send Canadian dollars to Canada, you can start your transfer from your Grey account today.

Still have questions? We’ve answered some of the most common ones below.

FAQs about sending Canadian dollars to Canada

Do I need a Canadian bank account to send Canadian dollars (CAD)?

No. You only need a Grey account with a supported currency balance. The recipient must have a Canadian bank account to receive the funds.

How long does a CAD transfer take?

Interac transfers are usually delivered within minutes, while bank transfers typically arrive within one business day, depending on the time the transfer was submitted.

What currencies can I send CAD from?

Grey allows CAD transfers from USD, EUR, GBP, and NGN balances, with automatic currency conversion during the payment.

What is the minimum amount I can send?

The minimum transfer amount is 5 CAD per transaction.

What is the maximum transfer amount?

Individuals can send up to 10,000 CAD per transaction, while Grey Business accounts can send 25,000 CAD via Interac or 100,000 CAD via bank transfer.

Can I send money to both personal and business accounts?

Yes. Grey supports transfers to both personal and business bank accounts in Canada.

Now that you know how CAD transfers work, start sending Canadian dollars to Canada from your Grey account.