Easy Options for Sending Money Overseas

  • Basic Money Transfer - (For making an immediate money transfer overseas)
  • Limit Order - (Wait for the exchange rate you want & automatically lock it in)
  • Recurring Transfers - (Avoid the hassle of booking a money transfer everytime you need it by scheduling ahead of time)
  • Forward Contracts - (If you like the current exchange rate and want to lock it in for the future)

  

Basic International Money Transfers

International money transfers with CanadianForex are fast, secure and will save you money. Whether you need to transfer money to purchase property abroad, plan to move overseas or have regular financial commitments in your home country, CanadianForex has you covered. With CanadianForex you can transfer money to the US, UK and many other countries and get great rates and outstanding customer service 24 hours a day. Our maximum fee is $15 - Really! And If you make a transfer of $10,000 or above, your transfer is Fee FREE. Completing a money transfer with CandianForex is easy:

  1. Get a quote for your international money transfer today- it’s absolutely free. (Compare our rates to your bank and see how much you can save.)
  2. Enter recipient bank account details
  3. Send us the funds

We do the rest. We convert and transfer your money for you.

*Please note: We do not offer cash transfers or money transfers for amounts under $2,000.

Forex Limit Orders

A limit order lets clients instruct CanadianForex to buy or sell one currency for another currency at a target rate that is better than the current market rate. Clients leave such orders with us to take advantage of exchange rate movements during the times at which they cannot monitor the rates themselves such as overnight market movements.

As foreign exchange markets are open 24 hours and volatility often occurs during overnight sessions, you may miss out on the best rates if you are unable to monitor movements all the time.

Orders can be left with any of our staff and these are in turn left with our overnight traders. If the rate nominated is triggered overnight, you will be notified and asked to provide beneficiary details and organize timely payment to CanadianForex.

Orders that are triggered overnight become binding. You will be notified by phone and/or email if orders have been triggered.

When leaving a limit order with us, you must instruct us of the currency to sell, the amount to sell, and the desired exchange rate. You also need to tell us for how long the order is valid (between 2 and 365 days in the future).

Business and private clients can leave orders - but generally the amount needs to be greater than $25,000 to be accepted. Please note that you need to speak to one of our dealers to be set up for Limit Orders. 

Recurring International Payments

Setting up recurring International payments with CanadianForex is easy and can save you time and money. Take advantage of our great exchange rates and flexible set up options to accommodate your specific needs.

You have two ways of sending recurring payments:

  1.  Fixed Payments: This is best suited for a fixed amount that you need transfer regularly (bi-weekly, monthly, quarterly) such as mortgage payments. If you are working in the U.S. and need to pay off your Canadian mortgage each month for example, you can lock in your rate and transfer the same amount every month in U.S. dollars and receive the same specified Canadian Dollar amount to pay off your mortgage.

 You can save time and money and eliminate risk by using our fixed regular payments option.

    2.    Non Fixed Payments: This option is best suited for periodic money transfers that are not fixed.

 As an example, If you are temporarily living in France and want to send €2,000 of savings back home to Canada every month, you can take advantage of this option.

You can benefit from favorable rate fluctuations using the non-fixed payment option.

Examples of recurring transfers for individuals:

  • Overseas mortgage payments
  • Transfer of retirement funds abroad
  • Foreign salary transfers
  • Overseas rental income transfer
  • Overseas school tuition payments
  • Overseas debt repayments
  • Transfer money/savings back to your home country

Examples of reoccurring payment plans for businesses:

  • Paying or receiving overseas wages

  • Paying or receiving royalties

  • Paying or receiving fees for services  

Frequently Asked Questions for Recurring Payments

  • Which currencies do you offer for recurring payment plans?

We accept all major currencies. For your specific currency, please speak to one of our accredited dealers. We currently accept direct debit instructions for AUD, GBP, CAD and USD (for USD accounts based in Canada only). For recipient payments, we will pay funds in most currencies - however this is subject to any third party fees that may be applied to these receipts. The client is responsible for these fees which must be considered when entering into a regular payment agreement.

  • Do I need to pay a deposit?

No deposit is necessary for non-fixed payment plans. For fixed payment plans, a deposit is necessary to cover any market risk exposure we may face. The deposit is the equivalent of one installment. You will need to transfer it together with your first installment. Please note that the deposit is not a fee and we will use it to pay off the last instalment of your regular payment plan.

  • How much does it cost to set up a recurring payment with CanadianForex?

There are no transaction costs or fees involved. You simply pay your regular installment and the deposit as agreed in the payment plan and we will convert and transfer at the agreed rate.

  • How much is the deposit?

The deposit is in the amount of one installment. You need to transfer it together with your first installment. Please note that the deposit is not a fee and we will use it to pay off the last installment of your regular payment plan.

  • How do I set up a recurring payment plan with CanadianForex?
  1. Call us today and one of our dealers will offer you a quote and a payment plan according to your individual needs
  2. Once you accept the quote, you pay the first installment and a deposit in the amount of one installment
  3. We will then transfer the agreed amount to your recipient account
  4. You can set up Direct Debit or make regular electronic funds transfers to us in order to ensure regular payments
  5. As soon as we have received your payments, we will in turn pay out to your recipient account as agreed in the payment plan
  • Can I cancel a recurring payment plan anytime? What are the conditions?

If a contract is cancelled or terminated, the Company will sell the balance of the purchased currency (if any) and buy back the balance of the original currency. The deposit will be returned minus any losses that may have resulted as a result of variations on the exchange rate.

  • How many payments can we enter into?

Recurring payment plans can be set up for a maximum of 12 months and they can recur bi-weekly, monthly or quarterly. Shortly before your plan is due to finish, one of our accredited dealers will contact you to discuss renewing or changing the plan depending on your requirements.

  • Which currencies do you offer for recurring payment plans?

We accept all major currencies. For your specific currency, please speak to one of our accredited dealers. We currently accept direct debit instructions for AUD, GBP, CAD and USD (for USD accounts based in Canada only). For recipient payments, we will pay funds in most currencies - however this is subject to any third party fees that may be applied to these receipts. The client is responsible for these fees which must be considered when entering into a regular payment agreement.

  • Do I need to pay a deposit?

No deposit is necessary for non-fixed payment plans. For fixed payment plans, a deposit is necessary to cover any market risk exposure we may face. The deposit is the equivalent of one installment. You will need to transfer it together with your first installment. Please note that the deposit is not a fee and we will use it to pay off the last instalment of your regular payment plan.

  • How much does it cost to set up a recurring payment with CanadianForex?

There are no transaction costs or fees involved. You simply pay your regular installment and the deposit as agreed in the payment plan and we will convert and transfer at the agreed rate.

  • How much is the deposit?

The deposit is in the amount of one installment. You need to transfer it together with your first installment. Please note that the deposit is not a fee and we will use it to pay off the last installment of your regular payment plan.

  • How do I set up a recurring payment plan with CanadianForex?
  1. Call us today and one of our dealers will offer you a quote and a payment plan according to your individual needs
  2. Once you accept the quote, you pay the first installment and a deposit in the amount of one installment
  3. We will then transfer the agreed amount to your recipient account
  4. You can set up Direct Debit or make regular electronic funds transfers to us in order to ensure regular payments
  5. As soon as we have received your payments, we will in turn pay out to your recipient account as agreed in the payment plan
  • Can I cancel a recurring payment plan anytime? What are the conditions?

If a contract is cancelled or terminated, the Company will sell the balance of the purchased currency (if any) and buy back the balance of the original currency. The deposit will be returned minus any losses that may have resulted as a result of variations on the exchange rate.

  • How many payments can we enter into?

Recurring payment plans can be set up for a maximum of 12 months and they can recur bi-weekly, monthly or quarterly. Shortly before your plan is due to finish, one of our accredited dealers will contact you to discuss renewing or changing the plan depending on your requirements.

 

Make an Enquiry
* Denotes a mandatory field.
(Country code/Area code/Number)

Currency Converter


Market Rate For informational purposes only. Terms of Use
For details, see My FX Dashboard
Rate: 0.9066
=
Rate: 1.1031
=
For CanadianForex’s customer rate
Log In or Register Now

Register Free

For international money transfers at better rates than the banks, register now.

Get Started & Register
Already registered? Login

Get our free commentary

Stay on top of the news with updates from our expert dealers on the latest currency movements. You can unsubscribe any time and your email address is safe – see our >Privacy Policy.


Keep me up to date:

Get free rate alerts

/
 
Choose currency pair and enter the exchange rate. An alert will be triggered when the exchange rate is reached and an email will be sent to you. You can unsubscribe any time and your email address is safe – see our Privacy Policy.
NOTE: These rates are for informational purposes only.

© 2014 Copyright CanadianForex Limited

CanadianForex is registered with FINTRAC (registration number M08560392). CanadianForex is also part of the global OzForex Group and is a wholly owned subsidiary of the publicly-owned Australian corporation,  OzForex Group Limited (ACN: 165602273). 

Where any information is provided by CanadianForex, it is done so without considering the investment objectives, financial situation and particular needs of any person. Before acting on any general advice, you should consider its appropriateness to your circumstances. To the extent permitted by law, CanadianForex makes no warranty as to the accuracy or suitability of any information and accepts no responsibility for errors or misstatements, negligent or otherwise. Any quotes given are indicative only. The information may be based on assumptions or market conditions and may change without notice. No part of the information is to be construed as a solicitation to make a financial investment.

DISCLAIMER: CanadianForex makes no warranty, express or implied, concerning the suitability, completeness, quality or exactness of the information and models provided in this web site. Read full disclaimer.

CanadianForex provides international money transfer services to private clients and business customers. Use our free currency converter, exchange rate charts, economic calendar, in-depth currency news and updates and benefit from competitive exchange rates and outstanding customer service.