Ideal solutions to send money to France from Canada
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Are you confused about how to send money to France from Canada to your family, friends or repatriate your income?
Canada and France share diverse and beneficial economic and trade relations. There are over 1 million French living and working in Canada.
Also, France is a top-ten trading partner for Canada - ninth largest for goods trade and sixth largest for services. France is also the 12th largest foreign investor in Canada, with a stock of 14.1 billion dollars from direct investment in Canada in 2021.
So, it has a popular demand for transferring money to France from Canada or vice versa.
Luckily, it’s not too hard for Canadians to send money from Canada to France. Go ahead with greater details below!
Ideal solutions to send money to France from Canada
How to send money from Canada to France?
Many people can get stuck with sending money from Canada to France (CAD to EUR) because of several and confusing options.
Don’t worry about your confusion about international money transfers , DNBC’s expert will show you how to send money from Canada to France.
It’s a highly popular option to transfer money through the bank from Canada to France, especially for large sums of money.
This is due to reliability and safety from the payment system. Also, banks often charge a fixed fee instead of a percentage fee.
If you’re planning to send your money via a bank, you and your beneficiary are requested to have a bank account. If you don’t have an account, the operation of transferring can take much longer.
You can consider the payment system as an optimal option for large transactions or for your convenience if necessary.
Online money transfer services
In addition to transferring money to France via Canadian banks, you can pick online money transfer services.
They tend to offer lower fees and better rates. You can consider them as the cheapest way to send money from Canada to France.
Online money transfer services such as DNBC Financial Group, Wise, TorFX, Direct Currencies and OFX have become leading options for both personal and business transfers.
They have more competitive advantages compared to banks. It just takes a few steps to
set up your transactions on an online money transfer platform.
After completing your account transfer registration , the system will request to charge your transfer fee to transfer. The fees will be different, based on payment methods, services/providers and the final destinations.
To make transfers more convenient, most online money transfer providers have developed their mobile apps on Android and iOS platforms. Those apps will help you make a transfer, track and review trading history…
Banks in France will work out EUR withdrawals to make sure that you get a suitable amount of funds. But keep it in mind that your home bank will levy a charge on your transactions.
You should have a close look at fees of foreign currency transactions and withdrawals. If you use several cards, pick one of them with charging you the least and offering you the best values.
Although a bit costly, it can shorten the time to get the funds in case of emergency.
Don’t try to withdraw each small fund once. If so, you will be charged on every withdrawal. Remember that the smaller the withdrawals, the higher the cost.
Cash transfers in exchange stores
This transferring method is prevailed by MoneyGram and Western Union.
With Western Union, you will send money directly to the beneficiary account at a cost of minimum EUR 1.90 per each transfer. Also, you can transfer cash to France at over 3,5001 branches in Canada. Your beneficiary can collect their cash pickup in minutes.
With MoneyGram, you can send up to $500 for the flat fee of $10. You can send to your loved ones for cash pickup or directly to a bank account in as little as 10 minutes.
What to consider once sending money to France?
Before sending money from Canada to France, there are four golden rules you need to follow closely if you don’t want to be get in transfer troubles and charge more:
Choose a prestige transfer service regulated by the legal authorities. Look at customer’s reviews to know more about their service and support, and how they deal with issues if anything.
Make clear about the costs/fees of making your transfer, including administrative fees, currency conversion charges, flat fees....
Also, you need to check additional costs, hidden fees in your transactions.
You should make a comparison of the exchange rates for your currency. Choose a provider offering the mid-market exchange rate with no markup to get a better value.
Time of transferring
Usually, international transfers can take from a few minutes to several days, depending on the method, and final destination.
Some payment providers can estimate the arrival time for your transfer. They will inform you and your beneficiary via SMS or email if the funds arrive.
Of course, you have a lot of choices to transfer money from Canada to France: bank transfer, online service, or even cash…
The costs of your transfer will vary, so compare many options to get the best deal for your convenience and demands.
About DNBC Financial Group
DNBC Financial Group aspires to be the top transfer business account provider for international payment.
We provide full online payment experience, which allows you to make transactions around the clock in more than 170 countries and in different currencies.
For your transfers from Canada to France or anywhere, you can do it with ease and comfort via our service.
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Note: The content in this article is for general informative purposes only. You should conduct your own research or ask for specialist advice before making any financial decisions. All information in this article is current as of the date of publication, and DNBC Financial Group reserves the right to modify, add, or remove any information. We don’t provide any express or implied representations, warranties, or guarantees regarding the accuracy, completeness, or currency of the content within this publication.
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