What are the wire transfer limits with Simplii Financial?

Simplii Financial has been helping nearly 2 million Canadians manage their money since 2017.¹ Backed by CIBC, it offers no-fee banking and digital-first services designed to make everyday finances simple. But when it comes to wire transfers, knowing the minimum and maximum limits matters, as they determine how much you can send or receive in a single transaction, at home or abroad. We're taking a look at Simplii's wire transfer limits and fees, and how Wise fares in comparison.

How much can you wire with Simplii?

With Simplii, you can send international wire transfers through its Global Money Transfer service. Limits are set to keep payments secure and to meet international regulations. Transfers must meet both a minimum and a maximum amount, and the exact ceiling can depend on the destination country and the transfer method.

Simplii Financial minimum wire transfer limit

The minimum you can send with Simplii is CAD 100² per transfer, and it applies across all delivery methods — whether you're sending to a bank account, card, or for cash pickup.

Simplii Financial maximum wire transfer limit

The maximum you can send with Simplii Financial is 75,000 CAD² in a 24-hour period, but some destinations and transfer types have stricter rules. For example, payments to a UnionPay card in China are capped at 3,000 CAD³ per transfer, while cash pickups in Pakistan are limited to 999 CAD per transfer. Simplii also notes that local regulations in certain countries may set unique limits for how much recipients can receive.

Simplii Financial fees for wire transfers

Simplii promotes its Global Money Transfer service as fee-free,² meaning you don't pay a direct charge for sending or receiving money. However, costs can still apply through exchange rates and intermediary banks, which makes it important to understand the details.

Additional charges

While Simplii doesn't add a direct transfer fee, intermediary and recipient banks may deduct their own charges before the money reaches the recipient. These deductions are outside Simplii's control and can vary depending on the country and bank involved.

Currency conversion and exchange rates with Simplii

Simplii sets its own rate, which includes a margin on top of the mid-market rate, and is how Simplii earns money on the transfer.

Exchange rate policies

When you send a Global Money Transfer in a currency that's different from your account balance, Simplii converts the funds at its own rate at the time of transfer. The exact exchange rate isn't published in advance and can vary depending on market conditions. Simplii also notes that if the payment can't be delivered in the requested currency, it may be converted again by the recipient or intermediary bank using their own rate.

Currency conversion fees

Simplii doesn't charge a separate foreign transaction fee, but the exchange rate spread functions as the fee. The spread can change from one currency to another and may widen when markets are volatile. As a result, the total cost of sending money can be higher than it first appears, even if Simplii promotes "no transfer fees."

Simplii wire transfer limits and fees at a glance

Alternatives for sending money internationally

Simplii's Global Money Transfer is one option, but it's not the only way to move money abroad. Most major Canadian banks now offer their own versions of low-fee international transfers, usually marketed as "no fee" but with exchange rate markups built in.

Outside the big banks, specialist digital providers like Wise take a different approach. Instead of advertising zero transfer fees while hiding costs in the rate, Wise separates the fee and shows you the mid-market exchange rate upfront, so you know exactly what your transfer will cost before you send.

Wise as an alternative to Simplii for international transfers

With a Wise account, you're not tied to the limits and hidden costs that come with most bank transfers. You can send money to over 140 countries in more than 40 currencies at the mid-market exchange rate and a low, transparent fee that you see before you pay.

With Wise you can:

• Send up to 1.5 million CAD⁷ depending on how you fund the transfer.
• Hold and convert 40+ currencies in one account.
• Get local account details in major currencies like CAD, USD, GBP, and EUR to receive money without extra charges.
• Use the Wise card abroad in 150+ countries to spend at the real exchange rate and avoid foreign transaction fees.
• Manage everything online with instant notifications and full control from the app.

Conclusion

Simplii offers a convenient way to send money abroad, with no upfront transfer fees and support for over 130 countries. For many Canadians who are already customers, it's an easy option since transfers are funded straight from a Simplii account.

But there are limits and restrictions to keep in mind, too. You can only send up to 75,000 CAD² in 24 hours, and the exchange rate includes a markup that makes your transfer more expensive than the mid-market rate. Delivery times can also stretch up to three business days,² depending on the country.

Wise works differently. You see the real exchange rate and can send much larger amounts, including up to 1.5 million CAD⁷ by wire transfer. With the ability to hold 40+ currencies, plus features like local account details and the Wise card, Wise is built for people who need flexibility and want full control over international payments.

Sources verified on 30 December 2025