Personal Finance Money transfer

A closer look at Wise and Remitly’s fees in Canada

Piyush Singh
Piyush Singh
24.09.25
Read time 4 minutes

Both Wise and Remitly® are cost‑effective international money transfer solutions. You can pay friends, send money to family or buy goods overseas.

However, Remitly’s pricing can be a little complicated. You may find that your costs differ depending on your situation and where you want to send your money.

So, let’s take a closer look at Wise vs Remitly’s fees, including real-world examples to clarify pricing and services for your spending. Let’s dive in!

How Wise pricing works

Wise uses fair and transparent pricing for transfers in Canada or further afield. You can open a free multi-currency account or use your Wise card to spend in over 150 countries overseas.

Here’s how it works:

  • Pay from 0.48% per transfer*
  • No exchange rate markup
  • Reduced fees for transfers of 35,000 CAD or more

Wise always uses the ‘fair’ mid-market exchange rate for global transactions. No markups, no hidden fees, no stress!

How Remitly pricing works

Remitly’s pricing structure depends on where and when you want to transfer your money, as well as how much you want to send.

If you’re new to Remitly, you may be able to access your first transfer for free, but this is only for first-time customers.¹ Here’s an example of future Remitly pricing:

  • CAD to USD transfers: No transfer fee²
  • CAD to Indian rupee (INR) transfers: 1.99 CAD for transfers below 500 CAD³
  • CAD to Chinese yen (CNY) transfers: All transfers cost 1.49 CAD⁴

You’ll also need to consider Remitly’s exchange rate fees. The provider offers a promotional rate for new customers, but this typically only applies to a set limit.

For CAD to USD transfers, for example, you can send up to 1500 CAD fee-free.² For your next transfer, you’ll pay Remitly’s standard exchange rate.¹

This fee structure can be a little confusing. The website only displays its promotional first-time rates, which is misleading for regular customers.

Real‑world example comparisons

The price of your Remitly transfer will depend on your customer status and the currency you want to send abroad.

If you want to send 100 CAD to family in India, for example, you’ll pay 1.99 CAD in transfer fees. You’ll also pay Remitly’s exchange rate.

However, if this is your first time using Remitly, you can send your transfer for free. If you want to send** more than 500 CAD **to India, you also won’t pay any transfer fees.³

Unlike Remitly, Wise uses the same pricing structure for all customers. Whether you want to pay family in the UK or send money to Japan, everyone pays the same.

You can even use Wise’s handy pricing calculator to work out exactly how much your transfer will cost before you come to send it.

3000 CAD to USD transfer - Wise vs Remitly fees

ServiceUpfront feeFX markupUSD received
WiseFrom 0.48% per transferNo markup – Wise uses the standard mid-market exchange rate2,196.40 USD⁵ (as of 23 July 2025)
RemitlyNo fee for CAD to USD transfersSpecial rate of 1 CAD = 0.7398 applies to the first 1500 CAD of your transfer

Standard rate of 1 CAD = 0.7325 applies to the rest of the transfer

This special rate only applies to first-time customers. Future transfers are subject to Remitly’s standard exchange rate

2,208.45 USD⁶ (as of 23 July 2025)

Service features comparison

You can use your Wise or Remitly account to send easy money transfers to multiple countries. Let’s take a closer look at Wise vs Remitly’s key features.

Wise vs Remitly features

FeatureWiseRemitly
Money transfers (multiple lanes)Send money via domestic wire transfer, direct debit, debit card, credit card, Interac® e-Transfer, bill payment or your Wise walletDeliver money via bank transfer, cash pickup, home delivery or your mobile wallet⁷
Mid‑market FX rateWise uses the mid-market exchange rate for all global transfersExchange rate differs depending on currency and transfer time – promotional exchange rate for first-time customers only¹
Multi‑currency accountYou can open a multi-currency account to hold over 40 currencies at onceYou’ll need to link a bank account, card or another eligible payment method to transfer money via Remitly⁸
Debit cardOrder a free Wise card to spend in 150 countriesYou can connect your Remitly account to debit cards provided by Visa® or Mastercard®⁹
Business accountOpen a Wise Business account to manage your money, track your spending and access exclusive featuresYou can currently only use Remitly business payments in the US¹⁰
Receiving via local detailsGet local account details to receive money in 9 currenciesYou can receive money via bank deposit, cash pickup, mobile wallet or home delivery (in some countries)¹¹

wise-safe

Transfer speed & reliability

Most Wise transfers are instant, but currency conversion can take up to 2 days to complete.** The provider is trusted by millions of customers worldwide.

Remitly has 2 transfer speeds: Express and Economy. Express transfers are typically quicker, but they may cost more to send.

You’ll need to log into your account to find the exact pricing and speed for each transfer type.¹²

** 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

Ideal use cases

Wise is best for flexible international transfers. You can open a multi-currency account to send and receive money in over 160 countries – all at the mid-market exchange rate.

Remitly may be a good choice for new customers, as you can access your first transaction for free. The platform is better suited to some currencies than others, as pricing differs between locations.

For example, CAD to INR transfers are free for transactions over 500 CAD, or you can send money to the US for free.³

Conclusion

You can use your Wise or Remitly account to send and receive fast and reliable money transfers in Canada or overseas.

However, Wise’s fee structure is a little more predictable. Remitly offers an appealing promotion for first-time customers, but you’ll pay regular transfer fees and exchange rate charges for all future transactions.

Wise delivers clear savings and flexible transfer solutions for individuals and businesses. To explore your global spending, check out Wise.

Sources

  1. Remitly - Home
  2. Remitly - CAD to USD rate
  3. Remitly- CAD to INR rate
  4. Remitly - CAD to CNY rate
  5. Wise - Send money to the USA from Canada
  6. Remitly - CAD to USD rate
  7. Remitly - How is my money delivered to my recipient?
  8. Remitly - How can I pay for my transfer?
  9. Remitly - Send money to a debit card with Remitly
  10. Remitly - Remitly launches international business payments from the US
  11. Remitly - What are my options for receiving money?
  12. Remitly - Common money transfer terms, explained

*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.

This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.

We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.

Money without borders

Find out more

Tips, news and updates for your location