Receiving USD in Canada
Whether you're a freelancer, contractor, or small business in Canada, receiving USD payments involves currency conversion. The total cost depends on the payment method, the provider's exchange rate, and any fixed fees.
Use the calculator above to see exactly how much you'll receive in CAD after all fees and exchange rate markups.
Best Methods for the USD → CAD Corridor
Wise
Wise typically offers the best rate for USD to CAD transfers, using the mid-market rate with a small transparent fee. Ideal for regular freelance payments.
PayPal
PayPal is convenient but adds a 3–4% FX spread on top of its 4.49% fee. For a $1,000 payment, this corridor could cost $70–80+ via PayPal.
Bank Transfer
SWIFT transfers are reliable for large amounts but slow (3–5 days) with flat fees and hidden exchange rate markups.
Tips for Canada-Based Businesses
- Invoice in USD so clients pay in their local currency.
- Use Wise for regular payments to maximize your CAD earnings.
- Offer PayPal as a fallback for clients who prefer it.
- Use Invoicemonk to create multi-currency invoices and track payments automatically. — Invoicemonk