How to send money to Venezuela from Canada with the best CAD-VES rate

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

Right now, for CAD/VES

• OFX is our top choice for CAD to VES transfers. Sending 2,800 CAD to VES will cost you $0 in fees, and you will receive 1,210,544.71 VES. The delivery time usually is 6-12 hours.

• OFX offers the lowest fees of the 2 available options. This cost combines the exchange rate between the Canadian Dollar and Bolivar that is 0.65% different to the mid-market rate and the fee of 0 CAD.

• Fastest way to transfer money to Venezuela from Canada is with OFX. For example, sending $2,800 to Venezuela with OFX will be 6-12 hours. 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 2 providers that operate between Canada and Venezuela. 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 Venezuela.

The exchange rate determines the price you’ll pay for Bolivar when you send Canadian Dollar to Venezuela.

The current exchange rate between the Canadian Dollar and Bolivar is 434.1524, but it constantly changes.

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

• The Mid-Market and Exchange Rates: Today, the CAD-VES mid-market rate equals 434.1524 VES per Canadian Dollar.

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

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

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

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

Here are all the ways to send money from Canada to Venezuela:

Bank transfers

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

By using a money transfer company such as OFX for transfers from Canada to Venezuela, 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 Venezuela with a debit or a prepaid card is easy with .


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

Credit cards

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

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

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

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

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 OFX if you need to send large amounts of CAD to Venezuela. The combination of rates and fees when sending to Venezuela 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 Venezuela. Mis-understanding these could result in a slower, or even failed, transfer.

There are different ways to receive money in Venezuela. 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 Venezuela 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 Bolivar. OFX is the best company for bank transfers between Canada and Venezuela.

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

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 OFX.

When signing up to a money transfer company to send between Canada and Venezuela, 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 Venezuela it will be a similar set of documents, although this should only be needed if you are opening a new account in Venezuela, or collecting in cash.

Big transactions between Canada and Venezuela, 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 OFX in part due to their easy sign up process in Canada.

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

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

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