Do wire transfers work on weekends in Canada? A closer look

Wire transfers generally don’t process on weekends, which can be challenging if you need to pay friends or transfer a large bill overseas. However, we’ve got you covered!

We’ll look at how wire transfers work in Canada, including transaction times, limits and how to send a wire in Canada or abroad.

We’ll also look at Wise as a secure alternative to wire transfers. Send money to over 160 countries at any time – even on weekends. Let’s dive in!

How do wire transfers work in Canada?

A wire transfer is an electronic transfer between banks or money transfer services, such as Western Union®. You can use a wire transfer to send funds to friends and family in Canada or further afield.

Wire transfers are processed via a secure network and they’re often used for real estate transactions, tuition fees, emergency funds and loan repayments.

To send your wire, you’ll need to know your recipient’s personal and banking information, such as their account number and transit routing number. You may also need to pay a fee for the transaction.

How long do wire transfers take in Canada?

Wire transfers typically take around 3 to 5 days to reach your recipient. Domestic transfers or wires between the same institution may take as little as 24 hours, while international transfers can take up to 5 days.¹

If you send a wire transfer through CIBC®, you may need to wait 1 to 3 business days for your payment to reach its intended recipient.³

It usually takes 1 to 5 business days to process a TD Bank® international wire transfer, depending on your transaction type and currency.⁴

A few other factors can affect how long it takes to send your wire transfer, such as how much you want to send and your chosen currency or location.

Make sure to speak to your local bank branch for more information before sending a wire transfer in Canada or overseas.

Do wire transfers work on weekends in Canada?

You may not be able to send your wire transfer on weekends, because most banks close on Saturdays, Sundays, and holidays. This may depend on your location and local branch opening hours.

For example, Scotiabank’s Toronto branch at 392 Bay Street and its Quebec Cartier Client Advice Centre both close on Saturdays and Sundays.⁵

CIBC’s Yonge and Queen Banking Centre in Toronto closes on Saturday and Sunday – and you can’t go to the Hearst Banking Centre in Ontario on weekends.⁶

The provider requires you to send your wire transfer at a CIBC Banking Centre, which restricts you to your local branch’s opening times – and it’s unlikely you’ll be able to send money over the weekend.⁷

RBC®’s Dundas & Bay branch in Toronto is also closed on Saturday and Sunday.⁸ You can only send your RBC wire transfer in a branch. This means you may not be able to make your wire on weekends or holidays.⁹

At many institutions, sending a wire transfer late on a Friday may delay arrival until the following week. This isn’t ideal for urgent payments!

To send secure, fast wire transfers over the weekend, look into an alternative money transfer method like Wise

Send money when you need to with Wise

Wise is your non-bank international money transfer alternative. Send and receive your money in Canada or abroad 24/7.

Whether you need to pay friends on a Friday night or send your down payment on a Sunday, you can always use Wise to get your money where it needs to go.

You can use Wise to:

• send money at any time via the Wise app
• create a multi-currency account for free
• pay friends and family in over 160 countries – on the go or at home

Wire transfers at traditional banks may require you to go into a branch, which isn’t usually possible on weekends. At Wise, you can send money any time online or via the Wise app – including weekends and holidays.

Over 45% of Wise’s transfers are instant, so your payment could be completed within just 20 seconds of you sending it!

Banks often charge significant wire transfer fees for domestic and international payments. For example, RBC’s Canadian dollar wire transfers start at 45 CAD.¹⁰

If you want to send money abroad, your bank may also charge to convert your Canadian dollars into a foreign currency.

This conversion isn’t typically done at the standard ‘fair’ mid-market exchange rate – and some intermediary banks may also add a fee to your transaction. You won’t know exactly how much you’ll pay until your wire transfer is in progress. All of these costs can really add up!

Save on wire transfer fees with Wise, which charges minimal fees for overseas payments. You’ll pay just 0.48%^* per transaction – and you can hold or convert 40 currencies at the mid-market exchange rate.

You can even use Wise’s pricing calculator to work out how much your transfer will cost. No more guessing how much you’ll pay. Simple!

Wise is secure for global money transfers, featuring advanced encryption and biometric confirmation for each login attempt or transaction.

The app also asks for verification when you send a large amount of money online. This ensures your Wise transfers are safe – wherever you want to pay.

Wire transfers on weekends – everything you need to know

It’s easy to send a wire transfer in Canada or overseas. You can pay your tuition fees, send money to your family or make a down payment on a new home.

However, most banks close on weekends and holidays. This could mean your online wire transfer won’t get processed until the following week – and you won’t be able to visit your local branch to pay in person.

If you need to send money worldwide—including instant transfers at the mid-market exchange rate—check out Wise.

Sources:

1. 1. Wire payments - Payments Canada
   2. Scotiabank Wire Payments
   3. Sending and Receiving Wire Transfers | CIBC
   4. Send money Internationally to your recipient’s bank account with TD Global Bank Transfer
   5. Scotiabank - Locator
   6. CIBC - Locations in Ontario
   7. CIBC - Wire transfers
   8. RBC - Dundas and Day branch
   9. RBC - Wire transfers
   10. RBC - Account services
   Sources verified on 7 March 2025