How long do wire transfers take from Canada to the US?

It’s easy to send a wire transfer from Canada to the US. You can send large sums to family or pay a deposit on a new home. However, the speed of your wire transfer can depend on your bank’s processing times and when you make your payment.

Here’s everything you need to know, including how long wire transfers take from Canada to the US at five major Canadian banks. We’ll also look at Wise – your international money transfer alternative. Send money to the US with just a tap. Here’s what you need to know.

How long does a wire transfer take from Canada to the US?

Wire transfers from Canada to the US usually take 1 to 5 business days.

This depends on several factors, including:

• when and how you send your transfer
• your bank or financial institution
• any necessary verification steps

Wire transfers tend to be slower than other payment methods. This is because they are typically large transfers between 2 banks, often in different countries. Your bank must electronically transfer funds to your recipient’s bank before the transaction completes. This can take some time.

Wire transfer durations at major Canadian banks

The amount of time it takes to send your transfer can depend on your bank or financial institution’s processing policies. Let’s take a look at how long it takes to transfer funds to the US at some of Canada’s most popular banks.

RBC

RBC® International Money Transfers will reach your recipient within 2 business days.¹ You’ll need to visit your local RBC branch to send your wire transfer. This can delay your payment, as most branches have set opening hours.²

Your bank may use intermediary or correspondent banks to process your transfer. This can slow down your transfer, and you’ll likely pay additional charges at each extra bank.³

TD Bank

TD Bank® wire transfers take 3 to 5 business days.⁴** **You’ll pay up to 50 CAD for your outgoing transfer. You may also pay transaction fees and exchange rate charges on international payments.⁵

You’ll need to visit your local TD branch to send your transfer.⁴** **The provider may also use correspondent or intermediary banks to process your payment.⁶

BMO

BMO®’s cut-off times will dictate your transfer speed. For example, in-branch wire transfers received after 4:00 pm (ET) will be processed the next business day.⁷

Your transfer should be processed the same day, except on weekends or holidays.

Scotiabank

You can send a Scotiabank® wire transfer to the US via your local branch.⁸ Your wire transfer should reach your recipient within 2 business days.

If you send your USD transfer before 4:00 pm (ET), it will be processed on the same day. This time may differ depending on your location and currency.⁹

CIBC

Your CIBC® wire transfer should reach your recipient within 1 to 3 business days. You’ll need to visit a CIBC branch to initiate your payment.

CIBC wire transfers cost up to 80 CAD per transfer, depending on how much you want to send. You’ll also pay CIBC’s foreign exchange rates for transfers to the US. CIBC uses intermediary banks, which may add fees and delay your transfer.¹⁰

Comparison: Wire transfer durations at 5 major Canadian banks

Here’s a closer look at transfer times at five major Canadian banks:

Factors that may delay a wire transfer

A few key factors can delay your wire transfer. Most banks don’t process wires on weekends or holidays since you usually must visit a branch.

Even if you can send your transfer on a weekend, your bank still won’t process it until the next working day. Entering wrong recipient details or canceling and re-sending can delay your transfer. Some banks also require additional verification for large wire transfers.

Many Canadian banks use intermediary providers to process wire transfers. The time it takes to go through these banks can add to your transaction time.

Wise: A faster and cheaper alternative

Wise is your international wire transfer alternative. You can send money across the world at any time, with easy digital transfers and 24/7 support.

Use your Wise account to:

• send money to 160 countries
• hold money in over 40 currencies
• receive money in 9 currencies with local account details

Wise always uses the mid-market exchange rate—the only truly fair rate with no markups or hidden fees. You can send money to the US from just 0.48% per transfer* – and you can even use Wise’s transparent pricing calculator to work out the cost of your payment before you send it. Simple!

Quick comparison of bank wire transfers and Wise transfers

Here’s everything you need to know about bank wire transfers vs Wise transfers.

^*Transaction speed claimed depends on funds availability, approval by Wise’s proprietary verification system and systems availability of our partners’ banking system, and may not be available for all transactions.

Final thoughts on wire transfers from Canada to the US

Wire transfers between Canada and the US can take up to five business days. The speed of your transaction will depend on how and when you want to send your payment. Check with your bank for the latest transfer times.

Always compare providers to ensure you get the best deal for your transfer. To send fast, low-fee payments to the US and further afield, check out Wise.

Sources:

1. RBC - International Money Transfer
2. RBC - Wire transfer
3. RBC - Additional account services
4. TD - How do I send a wire transfer?
5. TD - Notice of account and fee changes
6. TD - Wire payment fees charged for TD’s correspondent bank relationships
7. BMO - Wire payments processing schedule
8. Scotiabank - How do I send a wire transfer?
9. Scotiabank - Wire payments
10. CIBC - How to send or receive a wire transfer
11. RBC - Wire payments in RBC online banking for business
12. BMO - Agreements, bank plans and fees for everyday banking
13. BMO - Wire transfer service description with BMO Global Pay
14. Scotiabank - Your guide to fees and interest schedules
15. Scotiabank - Scotiabank International Money Transfer agreement