Compare money transfers from Israel to Canada

Best Services to transfer money from Israel to Canada

There are usually not enough traditional banks that people living in Israel can use to send money to Europe. Even the few ones around do not make the processing time of the online payments and transfers as quickly as possible. People often send money from Israel, which is a country in Asia, to their loved ones living or schooling in Canada. Businesses and commercial organizations within Israel also have financial commitments that they need to make in Canada and these might be recurring payments. Therefore, whether for personal or business purposes, it is paramount to ascertain the best way to transfer money from Israel to Canada.

The most reliable ways through which money can be sent seamlessly are through e-transfers and money transfer services. These platforms serve as a preferred and credible alternative that precedes the services available in using conventional banks. The purpose of this article is to guide users to trusted options they can use to wire money from Israel to Canada in the easiest way.

How to send money from Israel to Canada

The process of sending money through these viable platforms are similar throughout. Clients in Israel who want to send money to Canada via these money transfer services should follow the steps below:

1. Open an account by signing up on the platform
2. Activate a transfer request and fill in the information of the recipient
3. Select how you want to pay for the transfer. Credit card and debit card options are usually available.
4. Then click send

Some of the prominent and trustworthy services in sending money from Israel to Canada include the following

• TransferWise: This platform accepts the transfer of funds from a large number of clients and supports several currencies. TransferWise is also known for its high-level of security.
• FrontierPay: This UK based financial institution is an expert platform that offers currency exchanges to both small, medium, and large-scale businesses. Non-governmental bodies can also use their services.
• Currency Solutions: They provide a wide range of financial assistance to both individuals and corporate bodies. Their services are at low cost to the users for exchanges and the transfers are usually free.
• Currency Direct: This is another UK based currency exchange and money transfer service provider. With about 21 branches all over the world, they are reliable in offering one of the best currency pairings globally.
• WorldRemit: Excellent online platform that oversees most of the remittance and mobile money associated with financial services.

Which service is best to use?

It is always the desire of customers to perform their transactions on the best platform. However, deciding the service that is the best to use can be challenging most times. All the aforementioned services are excellent, yet, the best service is subject to the preference of the user. Nonetheless, there are certain criteria that these money transfer services must satisfy to be classified as the best to use. The criteria include the delivery method, processing time, transaction fees, currency pairings, and payment options.

How much does it cost?

For most of these platforms, the cost of financial transactions differ. The charge on money transfers is between 0.1% and 0.6% of the total amount. When the transaction is for the exchange of a currency, a mark-up of the marketplace index is adopted as the charge.