How to send money to Israel from Canada

By   |   Verified by David Boyd   |   Published 23 Dec 2022

Unsure what is the best way to send money from Canada to a family member, friend, or business in Israel?

Recipients will get more shekels if they send money to Israel from Canada with an online international money transfer service because they offer more competitive exchange rates and cheaper transfer fees.

Need to transfer money to Israel from Canada?

Best ways to send money to Israel

Simplii Financial Global Money Transfer

On website

Simplii Financial Global Money Transfer

Highlights

  • Get up to $300 when you send your first Global Money Transfer. Use promo code GMTEVENT to claim this offer. Terms and Conditions apply.
  • Send $50,000 daily to over 130 countries without transfer fees.
  • The only bank in Canada that provides Cash Pickup Service at $0 transfer fee. Send up to $2,000 per day and enjoy same-day delivery to over 40 countries.
  • Use the code CASH when you send your first GMT cash pick up for $50 cashback

Pros

  • No transfer fees.
  • Money tracking feature.
  • You can send money straight to a Visa credit or debit card.
  • Earn rewards.

Cons

  • No physical branches.
  • There is a $50,000 daily limit.
Remitly

On website

Remitly

Highlights

  • Enjoy great exchange rates and low fees.
  • Every transfer carries a delivery promise. Have your money delivered on time or get your money back.
  • Safety and security. Remitly uses industry-standard security protocols and encryption.

Pros

  • Low transaction fees.
  • Plenty of delivery options.
  • Wide global network, covering 50+ currencies and countries.
  • Highly rated customer support.

Cons

  • Fees apply when you fund your account using a credit card.
  • Transfer limits apply.
Wise

Wise

Highlights

  • Send money up to 7x cheaper than banks.
  • Receive payments like a local in 10 currencies.
  • Indulge convenience by transacting thru the Wise App anytime and anywhere!
  • Your money is safe. Wise is registered with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC).

Pros

  • Low and competitive fees.
  • Easy to understand fee structure.
  • Easy to use website and mobile apps.
  • High transfer limit.

Cons

  • Limited currencies and destination countries compared with some competitors.
  • Can only send funds to the recipient's bank account.
OFX

OFX

Highlights

  • Enjoy better rates and fees.
  • Transfers to most countries take 1-2 business days. Track your transfer online or with the OFX mobile app.
  • With support staff that are located in Canada, Australia, USA, UK, New Zealand, Hong Kong and Singapore.

Pros

  • Easy and quick account opening.
  • Wide range of supported currencies and countries.
  • No fees if transferring more than $10,000.
  • Enjoy additional features for business transfers.

Cons

  • Limited payment options.
  • $15 fee if transferring less than $10,000.
MoneyGram

On website

MoneyGram

Highlights

  • Receive 20% off the fee on your next money transfer when you signup today.
  • Offers many send and receive options with money arriving in minutes.
  • MoneyGram's global network includes well-known retailers and businesses, spanning more than 200 countries and territories, making cash pick-up easy for your receiver.
  • Wire internationally at excellent exchange rates.

Pros

  • Vast network and accessible branches worldwide.
  • Same-day transfers to select bank accounts.
  • Multiple deposits and pick-up options.

Cons

  • Higher fees compared to other money transfer services.

Compare more money transfer services before you send money to Israel.

First time sending?

How to send money to Israel from Canada

A money transfer service makes sending money to Israel from Canada easy and fast. Here’s a step-by-step guide on how to get started.

  1. Choose the money transfer service that you want to use. You can find reputable money transfer services to help send money to Israel on this page.
  2. Register for an account. You must provide your name, address, email address, phone number, and photographic ID. Registration only takes a few minutes to complete.
  3. Configure your transfer. You will be asked how much money you want to send, how you would like it delivered or collected, and the recipient’s details. You can see exactly how much money the recipient will receive. The quoted exchange rate may only be valid for a limited time since rates fluctuate constantly.
  4. Choose your payment method. Depending on the money transfer service you use, you may be able to pay for your transfer with a bank transfer or debit card. Some services support credit cards. Keep in mind that the payment method you choose can affect how long it takes for the recipient to receive their funds.
  5. Send the money and track the transfer. Once initiated, you’ll be able to track its progress and keep the recipient informed.

What are the fees and charges?

Costs for sending money to Israel from Canada

  • Service fee. The amount of money a money transfer service charges to send to Israel will vary depending on the amount of money being sent, how it is being delivered, and how the transaction is being funded.
  • Collection fee. Charged to pick up cash.
  • Delivery fee. Charged to have cash delivered to the recipient’s address.
  • Cash advance fee. Charged by the credit card issuer when funding a money transfer with a credit card. Interest applies separately.
  • Exchange rate. A poor rate can significantly affect the amount received. Especially relevant for large remittances.

Looking for other options?

Alternative ways to send money to Israel from Canada

There are a few ways to send money to Israel other than using an online money transfer service.

  • Bank transfer. Sending money with your bank may be easy, but it is typically more expensive and slower than an international money transfer service.
  • Crypto. If you and the recipient have crypto wallets, this can be a very cheap and fast option. Once the crypto is in their wallet, they can decide whether to hold it there or withdraw it to a bank account. Sending a stablecoin reduces the risk of losing money to price volatility.
  • Money orders. Relatively slow, but it is a safe way to transfer funds. Once the money order arrives, your recipient can cash it in.
  • Money transfer agents. An option if you want to fund the transfer with cash or if you or the recipient are unbanked.
  • Prepaid cards. Restrictions on how much can be loaded and withdrawn make this inappropriate for large transfers.

Still not sure?

FAQs

How long does it take for money sent from Canada to arrive in Israel?

The time frame will depend on the method used to send the money. For example, a bank transfer can take a few days, while money sent with a money transfer service can arrive within minutes.

Can I send money to Israel if the recipient has no bank account?

Yes. You can still send money through a transfer service if the recipient has no bank account. The sender can configure the money transfer so the recipient can collect cash from a specific location, or a courier can deliver the cash. Alternatively, you could use a money order, send crypto, or even send a prepaid card.

Is it safe to send money to Israel from Canada?

Yes, sending money to Israel from Canada is safe when you use a reputable company. We only list established money transfer services on Finty.

Can I send a money order to Israel from Canada?

Yes, it is possible to purchase a money order in Canada and send it to Israel via postal mail or tracked courier. The recipient can then cash the money order at a bank, credit union, local post office, etc.

Can I use my credit card to send money to Israel from Canada?

Yes. You can fund a money transfer to Israel with a credit card. However, your credit card issuer may charge a cash advance fee since the transaction will most likely be classified as a cash equivalent. Additionally, the transaction will immediately incur interest at the cash advance rate.

Can I send cryptocurrency to Israel from Canada?

Yes, cryptocurrencies such as Bitcoin and Ethereum can be sent to Israel from Canada. The recipient can then choose whether to sell the crypto for cash or use it to transact in stores and with people who accept it.