The newly released Wealthsimple Cash App is the Canadian equivalent of Venmo and exactly what we’ve been waiting for. Since Wealthsimple Cash is a relatively new offering, they are constantly updating their promotions to encourage more users to sign up. Wealthsimple now lets you effortlessly complete peer-to-peer transfers and makes it extremely easy to send and receive cash at with a few swipes on your phone. Their easy-to-use interface clearly shows you what exchange rate you’re being offered as well as what your transfer fees are.įund your transfer through your bank account, debit cards or credit cards (may be considered a cash advance).Įverything is completed seamlessly in online banking, and they are FINTRAC compliant. If you are in the US looking to send money north to Canada, Wise works just as well. Exclusive Offer: Free Transfer Up To $800 CAD If you are looking to send money abroad or to someone in the US and from Canada, Wise is a great, simple-to-use option. Overall, Wise is very straight-forward, very transparent in terms of what the fees are what exchange rate you’re getting and what competitors are offering.īest For: Canada to US or International and US to Canada It is completely safe and reliable for Canadians to use Wise to transfer money globally. Wise is an international company with 16 offices located around the world and over 10 million customers using their services. To be eligible to use the app, you must be located in the USA, have a US cell phone number and be 18+.Īlthough the popular American options are not available in Canada, there are some great equivalent options.

Currently, you cannot have a Venmo account as Venmo is not available in Canada.

Download venmo app