Does Revolut Work in Canada?

Revolut has become a popular digital banking app worldwide, offering features like international money transfers, budgeting tools, and multi-currency accounts.

But if you’re Canadian, you might be wondering: Does Revolut work in Canada?

The answer isn’t as straightforward as you might think. In this blog post, we’ll clarify Revolut’s availability for Canadians, correct some common misconceptions, and explore the best alternative money transfer solutions for Canadians—including KnightsbridgeFX, a trusted service for international money transfers.

Can You Use Revolut in Canada?

While Revolut initially launched its services in the Canadian market, the company withdrew in 2021, discontinuing accounts, including the Revolut card, for Canadian users. This has caused confusion, as many guides reference Revolut’s availability in other countries, like the UK.

Many are still asking, “Does Revolut work in Canada?”.

Revolut is no longer available to Canadians. If you’re looking for alternatives, consider Wise, PayPal, or KnightsbridgeFX. These are standout options for international money transfers that offer competitive exchange rates and low-cost fees.

If you’re looking for similar features or reliable money transfer solutions, there are several great alternatives to consider.

Better Alternatives to Revolut for Canadians

If you’re in Canada, you might be disappointed to learn that Revolut is no longer available. Fortunately, there are several excellent options for sending and receiving money internationally.

Let’s explore the best Revolut alternatives for Canadians, including KnightsbridgeFX, a standout solution for cross-border money transfers.

1. PayPal

PayPal is a global money transfer service with features for personal and business users. It’s particularly popular for online shopping and quick peer-to-peer payments.

Pros:

• Instant PayPal-to-PayPal transfers.
• Widely accepted for online purchases and payments using a Visa or Mastercard.
• Offers business tools like invoices and QR codes.

Cons:

• High fees for currency conversion (4.00% or more).
• It requires both the sender and recipient to have PayPal accounts.
• Limited transparency with transfer methods like SWIFT or bank transfers.

2. Wise (Formerly TransferWise)

Wise is known for its transparent and affordable international money transfers. It uses the mid-market exchange rate, ensuring you don’t pay hidden markups. Wise also offers a multi-currency account that lets you hold and transfer funds in over 40 currencies.

Pros:

• No hidden fees; it uses the mid-market exchange rate.
• Hold money in over 40 currencies, including Canadian dollars and other foreign currencies.
• Supports integrations with accounting tools and payment methods like direct bank transfers.

Cons:

• Slower processing times for larger transfers.
• Limited receiving options (e.g., no cash pickups).
• It’s not ideal for transfers over $2,000 due to flat fees and rate markups.

3. WorldRemit

WorldRemit is a mobile-first app offering international money transfers to a wide network of countries.

Pros:

• Instant transfer options to many locations.
• Multiple payout methods, including cash pickups.

Cons:

• Higher exchange rate markups than KnightsbridgeFX.
• Transfer fees vary widely depending on the destination.

4. Western Union

Western Union has been a trusted name in money transfers for over 145 years. It allows users to send money to over 200 countries and offers a range of transfer options, from online payments to in-person transactions.

Pros:

• Extensive global network with 500,000+ agent locations for cash pickups.
• Multiple transfer methods, including online, in-person, and mobile transfers.
• Convenient tracking tools to monitor your transfer.

Cons:

• Higher fees vary widely based on the transfer method and destination.
• Exchange rate markups that increase the overall cost.
• Transfer times can take 1–5 business days for some transactions.

5. Simplii Financial Global Money Transfer

Simplii allows Canadians to send money to over 130 countries for free. Funds can be sent directly from a CAD account and delivered in local currency or USD.

Pros:

• No transfer fees for international transactions.
• Flexible payout options, including cash pickups, Alipay, and money card transfers.
• Promotional offers for new users, such as cashback rewards.

Cons:

• Exchange rate markups of approximately 2.5% over the mid-market rate.
• Country-specific transfer limits that restrict the amount you can send.
• Processing times of up to 3 business days for transfers.

6. Skrill

Skrill is a digital wallet platform that offers money transfer services for personal and business use. It supports 40+ currencies and offers options like bank transfers and wallet-to-wallet payments.

Pros:

• No transfer fees for wallet-to-wallet transactions.
• Business-friendly features, including fraud management and easy integration.
• Supports 40+ currencies for international transfers.

Cons:

• Currency conversion fees of up to 3.99%.
• Delayed transfers that may take up to 72 hours.
• Advanced features like multi-currency accounts are restricted to VIP members.

7. KnightsbridgeFX: A Unique Solution for Canadians

While apps like PayPal and Wise are great for smaller, everyday transfers, KnightsbridgeFX is explicitly designed for high-value international transactions.

If you’re transferring over $2,000, KnightsbridgeFX guarantees rates that beat Canadian banks and most transfer apps. Whether you’re sending money for business purposes, personal investments, travel money, or education, KnightsbridgeFX provides unmatched value.

Pros:

• Better Exchange Rates: Save hundreds by avoiding app markups and bank fees.
• No Hidden Fees: Enjoy transparent pricing with no wire transfer charges.
• Secure and Reliable: Fully licensed and trusted by Canadians for over a decade.

Cons:

• Best suited for transfers over $2,000, making it ideal for significant transactions like business payments or international tuition fees.
• While not app-based, transactions can be conveniently booked online or via phone, with exceptional customer support to guide you through the process.

How KnightsbridgeFX Saves You Money

For example, transferring $10,000 CAD to USD through a major bank might cost you hundreds in fees and unfavorable exchange rates. With KnightsbridgeFX, you’ll receive bank-beating rates and a secure process that keeps more money in your pocket.

How to Choose the Right Money Transfer Service

When selecting a service, consider:

• Fees and exchange rates to ensure you’re avoiding hidden costs.
• Transfer speed to match your timing needs.
• Security and reliability by choosing a licensed and trusted provider.
• Your specific transfer needs, as some services excel for smaller transfers while others, like KnightsbridgeFX, are ideal for high-value transactions.

Start Saving with KnightsbridgeFX Now!

Although Revolut is no longer an option in Canada, plenty of reliable alternatives exist for your money transfer needs. For small, casual transfers, apps like PayPal and Wise are convenient.

But if you’re looking to maximize your savings and enjoy expert service for international currency transfers, KnightsbridgeFX is the best choice for Canadians transferring large amounts. With zero hidden fees, guaranteed better rates, and a secure process, KnightsbridgeFX is the smart choice for Canadians for high-value transfers.

Ready to save on your next international transfer? Call KnightsbridgeFX today at 1-877-355-5239 for a free, no-obligation quote and discover how much you can save!