Canonical: https://unicorncurrencies.com/send-money-to/canada/

# Intelligence: Sending Money to Canada

## Banking Requirements

- **Code:** **Institution + Transit**

- **Format:** 9-digit transit number and 3-digit institution number

## Route Context

- **Use case:** Pay Canadian suppliers for natural resources, manufacturing, agriculture, energy equipment

- **Published local rails:** Interac e-Transfer for Business, EFT (Electronic Funds Transfer), Lynx (Large Value Transfer System)

- **Timing note:** Settlement and credit timing depend on rail availability, funding, cut-offs, compliance review, correspondent handling, and receiving-bank release.

## Payment Control

- Check beneficiary details before release.

- Confirm payment purpose and invoice context.

- Keep proof available if the supplier says funds have not arrived.

- Review deductions if the amount lands short.

## Regulatory

- Bank of Canada and FINTRAC oversight

- GST/HST (5-15% depending on province) documentation

- Business Number (BN) required for tax purposes

- PIPEDA compliance for data privacy

## Key Industries

- Natural Resources

- Manufacturing

- Agriculture

- Energy

- Technology

## Tips

- Canada = Natural resources leader, manufacturing hub (auto, aerospace)

- Interac e-Transfer fastest for payments under CAD $25k

- Strong US trade ties - many suppliers serve both markets

- Provincial tax variations - HST rates differ by region