Sending Money Made Simple

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Life presents many scenarios where money needs to move across borders:  

  • Grandma wants to send the grandkids Christmas money
  • Mr. Smith just bought a Florida vacation home
  • Mrs. Jones owes income tax to Germany for her German pension income
  • Jen needs to send money to her daughter who is stranded in Paris without her wallet

All four hypothetical clients live in Canada, and each of them needs to move money differently. Understanding your needs will help us guide you towards making the best decision about how to move your money.


It’s common for relatives to want to send money to loved ones.  These transfers could be gifts for birthdays or Christmas, or they could be loans. Oftentimes, these transfers are ongoing support payments for family members.

Depending on the amount being sent, and the urgency of the transfer, Grandma will likely choose to either send a small amount of cash in an envelope through the mail, or will do a wire transfer directly to her grandchild’s bank account.  While sending cash through the mail isn’t wise (theft isn’t uncommon), if the gift is small enough, it may be worth the risk. Alternatively, sending a wire transfer costs about $15.

Mr. Smith

Mr. Smith just bought a home in Florida, so his priority will be price and security. We would recommend a wire transfer to Mr. Smith as the rate of exchange is very competitive, and the timing of the credit to the beneficiary is predictable. We’ve seen real estate deals fall through due to cheques that get lost in the mail, and want to do everything possible to ensure that his transaction goes smoothly and at a competitive rate.  

We would also advise Mr. Smith to send a few dollars more than the closing price. American banks will often levy incoming wire fees — and we would hate to see a deal go sideways over a $10 discrepancy.

Mrs. Jones  

Mrs. Jones has a small monthly pension from Germany. As a result, she owes a small amount of income tax to the German government each year. This is not an urgent transaction, but it IS important that her reference details get forwarded along with the payment. As a result, we would suggest that Mrs. Jones send a wire transfer. Wire transfers are low cost ways to send funds, and they are very secure and dependable.

Jen and Her Daughter

Jen’s daughter just lost her wallet in a hostel in Paris! Sadly, this isn’t as uncommon as you would think. We would advise that Jen use Western Union to transfer funds to her daughter right away. She’ll be able to pick up the funds within an hour, and if her daughter’s passport was also stolen, we can set it up so that she can access these funds without showing ID. We understand priorities and we will ensure that Jen’s daughter has money in her pocket before happy hour!

Not sure how to send money? Give us a call and we’ll help you weigh out the pros and cons. We send transfers for hundreds of people every month – practice makes perfect!

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