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the US to Canada without the detour
The US has the world's largest immigrant population, and American firms pay contractors on every continent. Looking at Toronto, the picture is clear. Cross-border payments between the US and Canada are constant: family, contractors, tuition and property.
Grey converts USD to CAD in one step and pays into RBC, TD, Scotiabank, BMO, CIBC or any other bank in Canada. Your recipient sees a normal CAD credit and never needs to open a Grey account.
How sending to Canada works
Sign up
Sign up with a government-issued ID. Approval typically lands before you've finished adding your recipient in Toronto. Grey Inc is registered with FinCEN.
Fund
Fund by ACH, wire or FedNow from any US bank. Most top-ups credit within minutes, and the USD sits on Grey until you convert it for Toronto.
Send
Canada gives you a choice: Interac to the recipient's email or phone, or a bank transfer to their transit, institution and account number. Either way the CAD amount is fixed first.
Why the rate matters more than the fee
The CAD figure Grey quotes in New York is the figure RBC credits. There's no second conversion on the Canada side to eat into it.
No adjustments after the fact
The USD to CAD rate you see at confirmation is the rate applied. If the dollars move between your tap in New York and settlement in Toronto, your recipient's amount doesn't.
That matters when you've promised a specific figure in Canadian dollars.
Why the US to Canada deserves a proper rate
Anyone in Houston who has sent to RBC the old way knows this. Bank transfers to Canada clear next business day with an 18:00 Eastern cutoff. Interac e-Transfer is instant, any day. For a student whose rent is due tomorrow, that's the difference. Grey gives a sender in New York a locked rate, a visible fee and a CAD deposit that arrives whole.
Delivered like a local payment
Your recipient receives CAD at RBC, TD, Scotiabank, BMO, CIBC or any other Canadian bank as an ordinary deposit. The transfer shows as settled in your Grey app in New York at the same moment.
Any Canadian bank
Enter the account number and bank name. The CAD posts directly to that account.
Save the recipient
Paying the same person every month? Save the details once and resend in three taps.
GreyTag for Grey users
If the person in Toronto is also on Grey, GreyTag moves the money instantly at no cost.
Funding, step by step
Most American senders top up in dollars and convert to CAD on the day. US senders fund by ACH, wire or FedNow from Chase, Bank of America, Wells Fargo or any US bank. FedNow lands instantly where the sending bank supports it.
Standard route
ACH, wire or FedNow from any US bank into Grey.
Faster if you earn abroad
A USD balance skips the USD conversion.
Convert late
Hold dollars until the Toronto due date, then fix the CAD amount.
Term fees and rent in Toronto fall on fixed dates. Set a reminder, keep the balance ready, and the transfer from New York takes under a minute.
Who uses this corridor
Tuition instalments
Term payments sent to a student's account for onward payment to the institution.
Urgent transfers
Interac e-Transfer lands instantly when something cannot wait a business day.
Parents of students
Rent and living costs for students at U of T, York, Calgary, Alberta, Manitoba and colleges across Ontario.
New permanent residents
Support for family who have landed through Express Entry or PNP and are waiting on a first job.
The senders on this corridor are easy to describe. The US has the world's largest immigrant population, and American firms pay contractors on every continent. Cross-border payments between the US and Canada are constant: family, contractors, tuition and property.
Why senders in New York switch
Cross-border payments between the US and Canada are constant: family, contractors, tuition and property. Grey exists on this route so that the CAD arriving in Toronto is never a surprise to the person who sent it from New York.
Senders in New York see two numbers, fee and rate, before anything moves. CAD then lands in any Canadian bank.
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