CadRemit makes it easy to send and receive money, whether you’re in Canada, the US, Europe, or Nigeria. To do this, the platform supports multiple transfer options like EFT, Push-To-Card, and ACH in case you’re sending money from or to Canada, the US, Nigeria, or Europe. Each of these transfer options has its own peculiarities, including how it works, ideal use case, processing time, cost, and why it matters.
Understanding each of these transfer options will help you know how they work so you can choose the one that fits your situation.
Interac e-Transfer: Local Canadian Simplicity
This transfer option lets you quickly fund your CadRemit wallet directly from your Canadian bank account using just an email or mobile number. Best for quick wallet funding, tuition payments, and everyday CAD transfers. If you're studying in Canada, you can even use this option to pay your tuition directly to your school as long as CadRemit supports payments to your school.
As outlined in CadRemit’s review, this option allows your funds to arrive within minutes. However, you should keep in mind that a small fee applies, which is around C$1.50, but it is convenient. Best of all, you don’t need the recipient’s bank details, making it the perfect choice for urgent payments or everyday transfers within Canada.
EFT: Reliable For Larger CAD Transfers
The EFT is an ideal option if you’re making larger transfers. When you are sending larger amounts or prefer using direct bank deposit, EFT (Electronic Funds Transfer) allows you to do so. You can also use this option to move money from your bank directly into your CadRemit wallet.
However, there is something you should know about this option: it takes longer for your money to arrive, usually within an average of 12 to 48 business hours. Additionally, it is dependable and also incurs a modest fee of about C$1.50.
ACH (For US-Based Users) and SEPA (Europe): Best for Regional Transfers
For sending funds to the United States or across Europe, CadRemit supports ACH and SEPA. These are regional, secure bank-transfer methods widely used in each area. With ACH, you use your routing and account numbers. While with SEPA, you use an IBAN. These options generally take one to two business days and are reliable for those who already have recipient banking details on hand.
Push-To-Card: Instant USD Transfers To U.S. Debit Cards
Push-To-Card allows you to make instant USD transfers using the recipient’s card details. What this means is that you just need the card number and expiry date, but a CVV code is not required.
Transfers are processed instantly, with no delay across weekends or public holidays. The feature supports transactions from $5 up to $10,000, with a daily cap of $10,000 per user. It is available exclusively for US-issued Visa Direct and Mastercard Send debit cards.
Since the process doesn't need bank routing and CVV, it is faster and reduces data entry errors. That said, expired cards won’t work, and the feature only applies to U.S. debit cards. Hence, if you are using credit or international cards, it will not work for you.
What Option Can Work For Your Transfer
Here is how each of these options works based on your needs:
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If you’re sending CAD within Canada and want instant access to your CadRemit wallet, Interac delivers.
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For larger Canadian transfers where speed isn’t critical, EFT serves.
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Sending USD or EUR to the US or Europe? ACH and SEPA are reliable and familiar if you have the recipient’s bank details.
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Need to send USD instantly? Push-To-Card is more ideal.
Sending money abroad comes down to three things: speed, safety, and fair value. With our tailored transfer options, you get all three — no matter which of our supported currencies you’re sending.
Clinton Nwachukwu
CadRemit Editorial
