Local wire transfer in CAD (Canada)

A CAD wire transfer is a transfer of funds between banks in Canada in the local CAD currency. This method is valued for its reliability, convenience and speed, as it provides a direct transfer from one bank account to another within the country.

Supported currencies

Canadian dollar (CAD)

Please note that if the currency of your balance in Smartcat is different from CAD, the funds will be converted to CAD at the Smartcat exchange rate on the day of the payment. 



You can view a list of companies that are reimbursing your commission in the My Payouts section (click on the Learn more button on your payout method).

Minimum and maximum payout amounts

From 5 CAD to 100,000 CAD

Smartcat allows setting the minimum amount, starting from which the payment will be sent to you. You can learn more in the article "Minimum payout amount".

Required details





Beneficiary type

Individual or company beneficiary

Beneficiary first name

Name of the individual beneficiary

Beneficiary last name

Last name of the individual beneficiary

Birth date

Beneficiary's birth date

Beneficiary company name

Beneficiary's company legal name

Account number

Beneficiary's bank account number

Recipient’s country

Beneficiary's country

Recipient's city of residence

City or town from the beneficiary's address

Recipient's address

Beneficiary's address, including building number or name

Recipient's postal code

Beneficiary's postal code

Routing number

A nine-digit transit route code of the format 0XXXYYYYY, where
 0 - mandatory starting position
 XXX - three-digit beneficiary's bank code
 YYYYY - five-digit branch code of the beneficiary's bank

Institution number

Three-digit beneficiary's bank code

Transit number

Five-digit code of the bank branch where the beneficiary's account is opened

Recipient's account type

Savings or checking


  • Cheaper than international transfer. There is no intermediary bank, and the commission is lower than for an international wire transfer.
  • Speed.  Payouts are processed up to 3 business days on the Smartcat side and up to 1-2 business days on the bank side.
  • Funds are received immediately in the local currency. You do not spend money on additional conversions and can immediately use the money in your country.

Frequently Asked Questions

Q: I chose this method, but the payment was rejected. Why?

A: Act as follows: 

  • Make sure you provide payment details for a local wire transfer (not an international SWIFT transfer).
  • Make sure that the postal code, city, street and house number are specified in the corresponding fields of the details. 
  • Make sure that you do not enter a PO box or email address instead of your residential address.
  • Check if the specified details (account number, routing number, institution number, transit number, account type) are correct.
  • Make sure that the name of the account holder is entered in the details exactly as it is in the bank details, including all spaces and symbols.

If the details you provided are correct, contact your bank branch to find out the reason for the rejection of the payment on the bank's side.

Q: I cannot find the payment. What does the payment look like on the bank statement?

A: The purpose of the payment indicates the payment ID in the format PO-XXXXXX-XXXXX, which you can find in the Payout History section.

SMARTCAT EUROPE B.V. or THE CURRENCY CLOUD LIMITED appears as the sender, depending on the beneficiary's bank.

Q: For which countries is this method available?

A: The method is available exclusively for receiving funds to a bank account in Canada

Q: I received a payout from Smartcat. I need to invoice for this payment. What details should be used for issuing such invoices?

A: When receiving funds by local bank transfer in CAD, you need to enter the following Smartcat details in your account:

Full name: Smartcat Europe BV
Legal address: Rouboslaan 36 B, 2252 TR, Voorschoten, the Netherlands
VAT no.: NL859832880B01.

If you have any questions, please email us at support@smartcat.com, we'll be happy to help.

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