How to send money to South Africa from Canada with the best CAD-ZAR rate

Comparing based on your specific needs is the best way to send money from Canada to South Africa with confidence.

Right now, for CAD/ZAR

• Wise is our top choice for CAD to ZAR transfers. Sending 10,000 CAD to ZAR will cost you $65.08 in fees, and you will receive 115,251.03 ZAR. The delivery time usually is next day.

• Key Currency offers the lowest fees of the 17 available options. This cost combines the exchange rate between the Canadian Dollar and Rand that is 0.25% different to the mid-market rate and the fee of 0 CAD.

• Fastest way to transfer money to South Africa from Canada is with Taptap Send. For example, sending $10,000 to South Africa with Taptap Send will be minutes. But, it can be quicker or longer depending on the exact amount, as well as the day and time of your transfer.

Our analysis, and search results, include 17 providers that operate between Canada and South Africa. These are ranked by speed, overall cost and ease of use.

Through this, you get a comprehensive view of all the options you have in Canada when you need to send money to South Africa.

The exchange rate determines the price you’ll pay for Rand when you send Canadian Dollar to South Africa.

The current exchange rate between the Canadian Dollar and Rand is 11.6329, but it constantly changes.

When calculating the costs of money transfers between Canada and South Africa, opt for the best combination of fees and exchange rates:

• The Mid-Market and Exchange Rates: Today, the CAD-ZAR mid-market rate equals 11.6329 ZAR per Canadian Dollar.

• Fees: Fees are charged on top of a transfer. The company offering the lowest fee is Key Currency, only 0 CAD. We would recommend searching for your exact send amount to get an idea of fees.

• Amount Received: The amount received in Rand is the biggest indicator the total cost of sending money from Canada to South Africa. Essentially, the more the recipient receives in South Africa, the less it is costing to send from Canada.

It’s possible that waiting a day or two can help you get more ZAR for the same amount of Canadian Dollar. But, the best way to lock in a price between Canada and South Africa is by using a forward contract.

A bank transfer is the our recommended option for money transfers between Canada and South Africa.

Here are all the ways to send money from Canada to South Africa:

Bank transfers

Paying via a bank transfer is often the better option for sending money from Canada to South Africa.

By using a money transfer company such as Key Currency for transfers from Canada to South Africa, you can send money and while benefit from lower fees and more favorable exchange rates than you would get with a traditional bank. 


Debit and prepaid cards

Sending money from Canada to South Africa with a debit or a prepaid card is easy with Xe.


Xe is a one of the better options in the market for international debit card transfers from Canada to South Africa.

Credit cards

When it comes to credit card transfers from Canada to South Africa, we recommend comparing your options to get the best deal.

Always choose providers that are regulated by financial authorities in both Canada and South Africa to ensure funds are protected.

Please refer to our directory of financial regulators worldwide for key regulatory bodies for money transfers between Canada and South Africa.

Some services have minimum or maximum thresholds on how much you can transfer from Canada to South Africa.

Companies will offer different rates and fees for different transfer amounts. Some companies will become more expensive after certain thresholds are hit.

We’d recommend using Wise if you need to send large amounts of CAD to South Africa. The combination of rates and fees when sending to South Africa is the most competitive, even at larger amounts.

Also, always check with the recipient and understand any declarations needed on large amounts of money leaving Canada, or entering South Africa. Mis-understanding these could result in a slower, or even failed, transfer.

There are different ways to receive money in South Africa. You can do a direct bank deposit, cash pickup, use a mobile wallet or receive money into a multi-currency account. It’s likely not all providers serving transfers from Canada to South Africa will offer every method, so it’s best to check ahead of time.

A direct transfer to a bank account is one of the more common ways to transfer from Canada into Rand. Wise is the best company for bank transfers between Canada and South Africa.

And if you need cash right away, check if cash pickup is an option for transfers between Canada and South Africa.

Mobile wallet services and payment apps like PayPal, Xoom, and CashApp are popular too, but they come with more limitations and higher costs compared to money transfer providers like Key Currency.

When signing up to a money transfer company to send between Canada and South Africa, you will need to verify your ID.

The exact documents you need might vary and in some cases you will need more than one.

For the most part, in Canada this will be a government ID like a passport or driver's license. In South Africa it will be a similar set of documents, although this should only be needed if you are opening a new account in South Africa, or collecting in cash.

Big transactions between Canada and South Africa, are subject to additional checks. A provider may ask you for proof of address or may want to know where the money comes from.

We recommend Wise in part due to their easy sign up process in Canada.

When sending large amounts of money between Canada and South Africa there will be tax implications to consider.

Some transfers into Rand may need to be reported to tax authorities in South Africa, particularly where inheritance or property purchases are involved.

Tax limits and personal allowances differ in South Africa based on age, income and a few other elements. When in doubt, please contact a tax professional in Canada or South Africa to discuss your personal circumstances.