Canada

Zelle Canada | Does It Work and What Alternatives Can You Try?

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Zelle to Cash App money transfer as well as sending money to apps like Venmo is a piece of cake. However, these features are available in the US only. If you are concerned about using Zelle Canada, here’s everything you should know.

What Will We Talk About Here?
  • You can not use Zelle in Canada and there is no news about this service being launched anytime soon.
  • Some of the alternatives that you can try in Canada include Wealthsimple and Wise.
  • For international transfers, you make use of services like World Remit and Remitly.

…and Much More!

Zelle Canada – Can You Use It?

Zelle requires a US-based account to operate. It is not available in the Canada. Moreover, the authorities have not provided any insight into whether Zelle would be introduced in Canada anytime soon or not.

  • Most Canadian banks and financial institutes have eTransfer service so there are solid chances that apps like Zelle may never be launched there.

You might be interested in reading: Zelle Transfer Limits.

Zelle Canada – Alternatives

Alternatives like Wealthsimple and Wise have already won considerable users in Canada. Therefore, it seem fair to say that there is no room for apps like Zelle or Cash App to get sufficient customer base.

Wealthsimple Cash App

This option is quite suitable for Canada-based money transfers. It also serves well in terms of cost, safety, and commendable money transfer fee.

  • You can send money to your friends and family members within seconds.
  • There is no cost for the transactions.
  • You can use the Visa Debit card to instantly send funds to your Wealthsimple account of up to $500.
  • Moreover, your important data is encrypted and completely safe from hackers.
  • It also comes with two-factor authentication.

Wise

Wise supports Canada to US transfers as well international and US to Canada transactions. In fact, it is one of the most well known names when it comes to speedy and reliable exchange of funds internationally.

  • The money transfer may take up to 2 days to finish.
  • You can send funds from US to Canada and vice versa.
  • The transfers are affordable with lower exchange rates.
  • It is most suitable for use in North America and Europe.
  • It comes with encrypted technology for data protection.

Alternatives To Zelle For International Transfers

It just isn’t about restricted use in Canada, the truth is that Zelle does not operate internationally. Where Wise and Wealthsimple are good alternatives if you wish to use an alternative service in Canada, you may have to explore other names if you want to transfer money elsewhere.

Remitly

One good option is that of Remitly, a low-cost international money transfer service that you can use if you don’t have access to Zelle. The exchange rates are pretty low and it is quite suitable for transactions outside of US.

  • The transfer time may take 2-3 business days.
  • You can also avail of cash pick-up or cash home delivery services.
  • You should opt for Remitly if time is not crucial and you want to avoid fees.

World Remit

World Remit is a UK based money transfer service that you can use to send funds internationally. In fact, it is one of the most widely used service around the globe.

  • The bank transfers are quite speedy and reliable.
  • Transaction via World Remit may take up to 1 business day to complete.
  • It offers industry-leading coverage among mobile wallets.

Zelle – In a Nutshell

Zelle is a reliable US payment service. It was launched back in 2011 and initially names clearXchange.

  • JPMorgan, Bank of America, launched Zelle as a platform that could pace up digital payments.

Users were quick to shift away from traditional modes of payments and use Zelle for their everyday transactions. Typically, Zelle became famous for 3 types of money transfers. These are listed below.

  1. Person-to-person.
  2. Government-to-consumer.
  3. Business-to-consumer.

The Bottom Line

Mobile money transfers have become a necessity. So, even if Zelle is not available in Canada, the residents do have access to good alternatives that they can try out instead. Moreover, there are services for international money transfers as well. You just need to keep in mind that exchange rates and fee may vary from one platform to another.

Frequently Asked Questions

Will Zelle come to Canada?

Zelle does not operate in Canada and there have been no news about the tool being introduced there anytime soon. Currently, Zelle is only available in the US.

How can I send money from US to Canada?

There are some services that let you transfer funds from US to Canada. The most prominent option is that of MoneyGram which is affordable and quick for such transactions. Other names include Wise and WorldRemit.

Can I use PayPal in Canada?

You can use Wealthsimple, Apple Pay, Google Pay, PayPal, and Samsung Pay in Canada.

Is there any way that I can get Zelle in Canada?

No, it is not possible to access this service in Canada. You will have to look into alternatives if you wish to perform money transfers of this sort.