Send Money from Canada to China
Compare CAD → CNY exchange rates from top providers
AI Quick Verdict
As of March 25, 2026, the cheapest way to send money from Canada to China is via Wise, costing $4.60 in fees with an exchange rate of 1 CAD = 5.02 CNY. Sending $1,000 delivers CNY 4,996.11 to your recipient in ~1 hour.
Compare CAD → CNY Rates
Best rate — they receive (CNY)
CNY 4,996.11
via Wise
Sending CAD 1,000 to China
Updated Mar 25, 05:42 PM
| Provider | Exchange Rate | Fee | Speed | You Send | They Receive | |
|---|---|---|---|---|---|---|
WiseBest rate | 1 CAD = 5.02 CNY | $4.60 | ~1 hour | CAD 1,000 | CNY 4,996.11 | Send → |
RevolutRunner-up | 1 CAD = 5.00 CNY | $5.00 | ~1 day | CAD 1,000 | CNY 4,979.12 | Send → |
Remitly | 1 CAD = 4.94 CNY | $15.00 | ~3 hours | CAD 1,000 | CNY 4,869.75 | Send → |
WorldRemit | 1 CAD = 4.92 CNY | $13.99 | ~6 hours | CAD 1,000 | CNY 4,850 | Send → |
* Rates are indicative. Final rate confirmed at provider's checkout. RateCurb may earn a commission if you click and sign up.
7-Day Exchange Rate History
Rate per 1 unit of source currency → CNY
vs Traditional Banks
You save up to $75
on a CAD 1,000 transfer
Wise
BEST RATEBank of America
+5% markup + $35 wire fee
Wells Fargo
+4.5% markup + $25 wire fee
Sending money from Canada to China is one of the most common remittance routes in North America, driven by a large Chinese-Canadian community and strong cross-border business ties. Canadian banks charge exchange rate markups of 3–8% on CAD to CNY conversions, but digital providers like Wise and Remitly can cut that cost dramatically. This guide breaks down the fees, speeds, and regulations you need to know before your next transfer.
Our verdict: Use Wise or Remitly for CAD to CNY transfers — their mid-market exchange rates and transparent fees consistently save senders 3–8% compared to Canadian banks.
Sending Money from Canada to China: A Complete Guide
The CAD to CNY corridor is one of the busiest remittance routes in North America. Canada is home to over 1.7 million Chinese Canadians, and the flow of money between the two countries is constant — covering everything from family support and tuition payments to real estate investments and business transactions. Whether you're sending a monthly allowance to parents in Shanghai or paying a supplier in Shenzhen, understanding how this corridor works can save you hundreds of dollars annually.
Understanding the Real Cost: Exchange Rate Markups vs. Flat Fees
Most people focus on the transfer fee, but the exchange rate markup is where providers quietly take their biggest cut. When a bank or transfer service quotes you a CAD to CNY rate, they almost always offer something worse than the mid-market rate — the "real" rate you see on Google or Reuters. That gap is their hidden margin.
- Exchange rate markup: Banks typically apply a 3–5% margin on top of the mid-market rate. On a $2,000 CAD transfer, that's $60–$100 you lose before fees even enter the picture.
- Flat fees: Some services charge a fixed fee per transfer (e.g., $3.99 CAD) but offer near mid-market rates. These are almost always better for larger transfers.
- What to look for: Always compare the total amount received in CNY — not just the advertised fee. Use a mid-market rate calculator to benchmark any quote you receive.
Why Digital Providers Consistently Beat Canadian Banks
Traditional banks like TD, RBC, and Scotiabank typically offer CAD to CNY rates that are 3–8% worse than the mid-market rate, and may charge additional wire fees of $15–$40. Digital providers operate with lower overhead and pass those savings directly to customers.
- Wise: Uses the mid-market rate with a transparent percentage fee (usually 0.5–1%). Ideal for regular, predictable transfers.
- Remitly: Offers competitive CNY rates with promotional bonuses for first-time senders. Strong mobile experience and reliable delivery to Chinese bank accounts.
- WorldRemit: Good option for smaller amounts, with cash pickup options available in some Chinese cities.
- Revolut: Excellent for users who hold multi-currency balances, though CNY may be exchanged at a slight markup depending on your plan tier.
Transfer Speed: Instant vs. Economy Options
Speed and cost are a trade-off on this corridor. Most digital providers offer two primary options:
- Express/Instant transfers: Arrive in 0–24 hours. Best used for urgent payments — school tuition deadlines, medical emergencies, or time-sensitive business needs. These typically carry slightly higher fees.
- Economy transfers: Arrive in 1–3 business days. Lower fees and often better exchange rates. Ideal for regular remittances where timing is flexible.
Chinese bank accounts (UnionPay-linked accounts at banks like ICBC, Bank of China, or China Construction Bank) are the most reliable receiving method and typically process funds faster than other options.
Regulatory and Tax Considerations
Canada does not impose taxes on outbound remittances, but transfers over $10,000 CAD must be reported to FINTRAC (Financial Transactions and Reports Analysis Centre of Canada) by the sending institution — not by you directly. On the Chinese side, recipients can receive foreign currency transfers up to the equivalent of USD $50,000 per year under China's State Administration of Foreign Exchange (SAFE) rules. Larger amounts may require additional documentation or conversion through a licensed bank. Always keep records of your transfers, especially for business-related payments.
Practical Tips to Get the Best Rate
- Best time to transfer: CAD/CNY rates fluctuate with commodity prices and global risk sentiment. Monitor rates for 5–7 days before a large transfer to identify favorable windows.
- Lock in rates: Wise and some brokers offer rate-lock features, allowing you to secure today's rate for a transfer executed within 24–48 hours.
- Amount thresholds: Many providers offer better rates or waived fees for transfers above $1,000 CAD. Consolidating smaller transfers into one larger payment often reduces your overall cost significantly.
- Set rate alerts: Apps like Wise and Revolut allow you to set target exchange rates and notify you when the market hits your threshold.
Frequently Asked Questions
What is the best CAD to CNY exchange rate?
The best available rate is always closest to the mid-market rate, which you can check on Google or XE.com. Wise typically offers rates within 0.5–1% of mid-market for CAD to CNY, making it the benchmark for this corridor in 2026.
How long does it take to send money from Canada to China?
Express transfers through providers like Remitly or Wise typically arrive in a Chinese bank account within 0–24 hours. Economy options take 1–3 business days and usually offer slightly lower fees or better exchange rates.
What are the fees for sending money from Canada to China?
Digital providers charge $0–$5 CAD in flat fees plus a small exchange rate margin of 0.5–1%, while Canadian banks can charge $15–$40 in wire fees plus a 3–5% rate markup. On a $1,000 CAD transfer, the difference can easily exceed $50 CAD.
Is it safe to use online money transfer services?
Yes — regulated providers like Wise, Remitly, and WorldRemit are licensed in Canada by FINTRAC and operate under strict anti-money-laundering requirements. Your funds are held in segregated accounts and protected by the same regulatory framework that governs Canadian financial institutions.
How to send money from Canada to China
- 1Choose your provider — Compare rates above and pick the one with the best CAD to CNY rate.
- 2Create a free account — Most providers take under 5 minutes to verify your identity.
- 3Enter your recipient's details— You'll need their bank account number and routing information.
- 4Pay and track — Fund your transfer and track it in real time.