There is no Cash App in Canada. We have therefore highlighted the best alternatives to use for transferring money in Canada. Luckily, there are several other apps on the market with similar functionality but perhaps better features to manage your personal finances. While Canadian banks and currency exchanges do not operate in the same way as they do in America, these alternatives are an acceptable choice for moving money around.
Let’s get to business: Cash App Canada!
(Note: there are some fees associated with using many of these apps, but typically they are less than the amount you would pay to get your money out of a bank.)
Top 8 Best Cash App Alternatives For Canadians
1. World Remit
World Remit is a great alternative to Cash App Canada that allows you to make transactions across 150 countries. With no minimum transfer amount, World Remit provides several transfer options, including mobile money, bank transfer, and cash pickup. Unlike many other alternatives, World Remit is not only an app. You can also access the app through a website. Once you open the app, you will see all of your transactions. World Remit is available in the following countries: France, the United Kingdom, Ireland, Spain, Italy, Germany, Netherlands, Switzerland, Australia, Japan, New Zealand, and more.
PayPal Canada is the official service for PayPal in Canada. You can use your PayPal account to send and receive money, buy or sell gift cards or other items, or pay bills using PayPal balance. You also get a free PayPal Credit card that you can use to shop online and pay with at stores like Amazon, Best Buy, Costco, Walmart, and Kijiji. (Note: PayPal Canada also offers one-touch payments that can be used with a number of third-party apps. For example, you can use the app’s one-touch option to buy a movie ticket or meal at a restaurant.)
Wise formerly known as TransferWise is an app that lets you make instant payments to friends, and has features for recording expenses. It works with your debit card so that payments are direct deposits. It does not have a built-in debit card and requires you to link your PayPal account. You also get a free credit card that you can use to shop online and pay with at stores like Amazon, Best Buy, Costco, Kijiji, Shopify, StubHub, eBay, Etsy, and Airbnb.
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4. Wealthsimple Cash
Wealthsimple Cash is a quick and easy way to send money to your friends and family. With just a few taps on your phone, you can send money anywhere in Canada in seconds. It’s free, there are no fees and no hidden costs. Money goes through the Bank of Montreal (Caisse Populaire de L’Alberta), so you don’t have to worry about sending it somewhere else. It’s also backed by AMEX. This option comes with a $25 annual fee.
5. Mogo App
Mogo is a Canadian financial technology company that offers a range of services, including digital banking, bitcoin trading, lending services, credit score monitoring, identity theft & fraud protection. The company also offers wealth and mortgage services. Mogo’s cryptocurrency is called MOGO. Money can be sent to any Canadian bank account.
Mogo App Pay is available to users who have an active Mogo credit card, and a Mogo debit card linked to your account. You must be a holder of the Mogo consumer credit card, not the business version. The minimum age to open an account is 18 years old, but people who are older than 18 can apply for a bank account and pay a $25 annual fee.
Newton is a Toronto-based cryptocurrency exchange that was founded in 2018. The company has positioned itself as one of the best exchanges available to Canadians looking to trade digital currencies at low cost. You can trade 10 different cryptocurrencies on the platform, including Bitcoin and Ethereum. In addition to low fees, the exchange offers a portfolio-like feature that makes it easy to keep track of your investments and track their performance.
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7. Interac e-Transfer
Interac is a quick and easy way to send money to friends and family in Canada. With over 250 participating financial institutions, Interac is the most convenient way to pay your loved ones without the need to download another app. Interac e-Transfer lets you send money from your bank account to a Canadian recipient, with a 2.9% fee and no processing fees on the amount sent. The minimum amount to send with Interac e-Transfer is $25 CAD.
Interac Online (for iOS, Android and the web) With Interac Online, you can send and receive money from your bank account to recipients in Canada.
Shakepay is a Canadian cryptocurrency exchange that is one of the easiest and cheapest ways to buy and sell cryptocurrencies in Canada. This is another alternative to Cash App Canada. In addition, users can send CAD and cryptocurrency to other Shakepay users for free through the app. Interestingly, Shakepay is introducing a Shakepay Card that lets you earn bitcoin as “cash-back” when you shop online or in-store. Shakepay’s cards offer a 1% cashback on all purchases and let you earn up to 7% cashback on Shakepay-enabled merchants.
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Final Thoughts: No Cash App in Canada
There are several great apps that can be used to transfer money in Canada, but if you’re looking for an app that is similar to Cash App, we recommend using one of the following alternatives. Although these apps may not work in the same way as they do in the United States, they are still a great choice for transferring money. While there may be some fees associated with using these apps, they are typically less than what you would pay to get your money out of a bank.
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