🇨🇦 Pay Suppliers in Canada
Pay Canadian suppliers for natural resources, manufacturing, agriculture, energy equipment
T+0 (2.3s avg within Unicorn network). Save 80% vs traditional banks.
What you need to send money to Canada
What details do I need to pay suppliers in Canada?
To pay suppliers in Canada you need the recipient's Institution + Transit (9-digit transit number and 3-digit institution number), plus account number and beneficiary name. Payments typically settle in 2.3 seconds and cost 0.5% FX spread + £5 per payment.
How fast are payments to Canada?
Payments to Canada settle in an average of 2.3 seconds when using local rails such as Interac e-Transfer for Business, compared to 2–3 days via traditional SWIFT.
How much does it cost to send money to Canada?
Unicorn Currencies charges 0.5% FX spread and £5 per payment. You save about 80% versus banks (e.g. £505 vs £2530 on a £100k transaction).
Cost Comparison: Banks vs Unicorn Currencies
See how much you save on £100,000 payment to Canada
| Cost Item | Traditional Banks | Unicorn Currencies |
|---|---|---|
| FX Spread | 2.5% | 0.5% |
| Payment Fee | £30 | £5 |
| Total Cost (£100,000) | £2,530 | £505 |
| YOUR SAVINGS | N/A | £2,025 (80%) |
| Settlement Time | 2-3 days (SWIFT) | T+0 (2.3s avg within Unicorn network) |
Local Payment Rails in Canada
Avoid expensive SWIFT fees. We use local payment systems in Canada for faster, cheaper settlement.
Interac e-Transfer for Business
Instant business payments up to CAD $25,000, email-based
EFT (Electronic Funds Transfer)
Standard Canadian bank transfer, 1-2 day settlement
Lynx (Large Value Transfer System)
Bank of Canada RTGS for large-value payments
Who Uses This Payment Corridor
Key Industries in Canada
- Natural Resources
- Manufacturing
- Agriculture
- Energy
- Technology
Average Transaction: £70k-£320k
Typical Monthly Volume: £350k-£3.8M
Popular Supplier Types
- Resource extraction equipment (Calgary, Edmonton)
- Auto parts manufacturers (Toronto, Windsor)
- Agricultural suppliers (Winnipeg, Regina)
- Aerospace components (Montreal, Winnipeg)
What You Need to Know: Canada Payments
Regulatory Considerations
- 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
Payment Tips for Canada
- 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
Why Choose Unicorn for Canada Payments
Local Rails, Not SWIFT
We use Interac e-Transfer for Business and other local systems in Canada. Avoid 3-4% SWIFT fees and 2-3 day delays.
80% Lower Costs
Save £2,025 on every £100,000 payment. On £350k-£3.8M monthly volume, save up to £60,750 annually.
Bank of Canada Supervised
Registered Payment Service Provider (PSP) and FINTRAC MSB. Full regulatory compliance for Canada payments.
Real-Time FX Tracking
Upload supplier invoices in CAD. See live P/L as GBP/CAD rates move. Lock rates for 15 seconds before committing.
£1,000,000+ Paying Suppliers in Canada? Save 80%
Enterprise treasury for import/export businesses with T+0 (2.3s avg within Unicorn network) settlement to Canada
For businesses with high annual FX volume. Not consumer transfers.