How to Send Money to France from Canada?

Last Updated: 20 Jul 2024

Here’s why sending money from Canada to France using a currency exchange specialist is the best option: Fast payments, great exchange rates, low transfer fees, and voila!

When sending money to France, using banks often means accepting unfavorable exchange rates. If you want to avoid sky-high transfer costs that rival the Eiffel Tower, it’s best to look for more favorable options. This is particularly crucial for businesses with suppliers or vendors in France.

The frequency of your transactions to France directly impacts potential savings through securing advantageous exchange rates. While many Canadians traditionally resorted to banks for such transfers, opting for foreign exchange and payment solutions providers have emerged as a preferred mode.

How to transfer money from Canada to France?

The two most common approaches for sending money from Canada to France include an online money transfer service or relying on a traditional bank. If you are looking for a quick and easy way to transfer funds, then an online money transfer service may be the best option. However, if you prefer the conventional approach and do not need your funds immediately, then it may be best to use your bank or pre-paid card instead. You will then need the recipient’s bank details and contact information when using an online money transfer service or bank.

Once all of the required information has been provided, initiate the transfer and wait for it to be completed. Once you've initiated the transfer, monitoring its progress to confirm its arrival in the destination country is essential.

What is the best way to send money to France?

If you’re looking for a cost-effective, secure, and fast way to send money to France from Canada, your best bet is to use a foreign exchange and currency conversion specialist. Traditionally, many people have relied on banks for these services, but innovative alternatives are now available at a lower cost.

For instance, with MTFX, you typically get rates that are 3–5% lower. So, for every CAD 10,000  you send to France, you can save up to $500, which adds up to $ 5,000 for every $100,000. 

Keep in mind that bypassing traditional banks eliminates the need to pay high transfer fees or additional bank charges, allowing your business to retain more funds.

To seal the deal, transferring funds can be completed in as little as 24 or 48 hours, providing you with significant time savings compared to banks, which frequently take five working days or longer to process transfers.

What is a good EUR/CAD exchange rate for sending money?

In 2002, France transitioned from the French Franc to the Euro as its official currency. Today, the Euro stands as the second-most traded currency globally. When transferring funds to a French recipient, optimizing currency conversion can significantly enhance your return on investment.

Given the fluctuating nature of the Canadian dollar and the Euro, staying informed about the current EUR/CAD trend is crucial. Monitoring this trend enables you to identify the most advantageous exchange rate, allowing you to preserve more of your funds amidst market fluctuations.

While banks may offer convenience, they often provide less favorable EUR/CAD rates and impose substantial transfer fees, sometimes reaching as high as CAD 150.00 per transaction. These fees can quickly add up, particularly with frequent transfers. In contrast, at MTFX, we prioritize personalized service and foster strong client relationships. Our commitment lies in delivering competitive exchange rates and minimal transfer fees, empowering our clients to optimize the value of their international transactions.

Who can use MTFX to send money to France?

Companies and individuals can both use MTFX to transfer money to France.

Individuals

Send money to family, friends, or yourself in France
Pay for studies in France
Transfer money for investment purposes
Send money when moving to France

Companies

Make supplier payments
Import goods or services
Make other business investments

What bank details are needed to transfer money to France?

If you're looking to send money from Canada to France, here's what you need to know:

Beneficiary's name
Beneficiary's address
Beneficiary's account number
Bank's name
Bank's Swift code
Bank's address
Reason(s) for transfer

Can I set up a regular money transfer to France?

Once your business account is set up with MTFX, you can easily schedule money transfers to France. Our platform utilizes cutting-edge automation technology to streamline your payments, offering accessibility from anywhere, at any time, all while ensuring secure and swift transaction processing.

How to transfer money to a French bank account online?

The first step is registering a secure online business account on the MTFX platform. Once you log in, you can send money to a France Bank account with just a few clicks, anywhere and anytime in Canada.

Managing your overseas payments has never been easier with MTFX automation technologies that enable hands-free transfers.

Send money to France today with MTFX

Whether sending money to France is an everyday affair or a once-off deal, you can still save money with MTFX. Overall, you can expect:

Quick transfers: Fast turnaround and automated Euro transfers to various French beneficiaries.
Comprehensive assistance: You can get expert guidance from an account manager and access a wide range of FX tools, such as the MTFX rate currency alert.
Secure platform: The MTFX online platform is highly secure and available 24/7 for your convenience.

Register with MTFX today to create a secure online business account and start sending money to France.

FAQs

1. How can I send money to France online?

If you're looking to send money online to France, you have several options, including online transfer services and banks. Here are the basic steps to follow:

Determine the best method for your needs based on factors like speed and security.
Collect recipient's information, including bank details and contact information.
Initiate the transfer, keeping in mind that processing times may vary based on your chosen method.
Track the transfer's progress to ensure it reaches its destination.

2. How long does it take to send money from Canada to France?

MTFX offers different options for sending money, including wire transfers to France and same-day options for faster delivery. With wire transfers, beneficiaries typically receive the funds within 24–48 hours. If you need even faster delivery, MTFX provides same-day options that offer nearly instant delivery. For transfers that are not time-sensitive, MTFX also offers low-cost in-country payment services.

3. How much does it cost to transfer money to France?

With MTFX, you can send money abroad for as little as $15 in transfer fees. Plus, transactions over $10,000 incur no additional fees, making MTFX significantly more affordable than banks, which may charge up to $50 for the same service.

4. Is it safe to send money to France from Canada online?

Indeed, when you choose MTFX, you can rest assured that your online money transfers to France are in safe hands. MTFX is officially registered and regulated by FINTRAC, guaranteeing the highest levels of safety and security.