Tangerine international wire transfer: What's an alternative?

Tangerine is known for simple, fee-free banking, but if you’re looking to send money abroad, you might hit a roadblock. Tangerine doesn’t offer international wire transfers, meaning you’ll need to find another way to move your money across borders.

So, what exactly are your options? In this guide, we’ll break down why Tangerine doesn’t support international transfers, what alternatives are available, and how you can send money abroad easily. One of your options is Wise, where you can send money to 160+ countries at the real exchange rate with low, transparent fees.

Does Tangerine offer international wire transfers?

If you’re banking with Tangerine and need to send or receive an international wire transfer, unfortunately, you’re out of luck. Tangerine does not support wire transfers in or out of your account¹.

That’s because Tangerine doesn’t have a SWIFT/BIC code², which is a unique identifier used by banks worldwide to process secure wire transfers. Without it, sending or receiving money internationally through traditional wire networks isn’t possible.

If you need to move money across borders, you’ll have to look for an alternative—one that does have a SWIFT code and offers fast, secure international transfers.

What are alternative ways to send money abroad from Canada?

Wire transfers at banks

Many Canadian banks, including RBC, TD Bank, BMO, and CIBC, allow you to send money internationally via wire transfer. However, these services typically come with:

• High fees, that can go up to $50³ per transfer
• Exchange rate markups, making your transfer more expensive
• Long processing times, taking several business days for funds to arrive
• Branch requirements, as some banks only process wire transfers in person

For example, RBC⁴ and TD Bank⁵ allow international wire transfers through online banking, but you may still face fees and daily transfer limits. CIBC⁶ and BMO⁷, on the other hand, often require you to visit a branch to complete a transfer, adding an extra layer of inconvenience.

International money order

Another option is international money orders, which you can purchase at Canada Post⁸, banks like BMO or money service providers. These are typically used for smaller transfers and are mailed to the recipient, making them slower than digital alternatives.

BMO offers both bank drafts and money orders, which are available in CAD, USD, and British pounds⁹. These are a secure way to send money overseas, as they can be easily cashed in Canada and abroad. However, you’ll need to visit a BMO branch in person to purchase one.

If you’re considering this method, check out our international money order guide to learn more.

International payment providers

For a faster and more flexible way to send money abroad, online payment providers like Wise, PayPal, and Remitly offer digital transfers without the need for in-person banking. You can check out our list of the best money transfer apps in Canada to find the right fit.

For a low-cost, transparent way to send money abroad, Wise could be a great option.

Send money to over 160 countries with Wise

Wise offers a simple, low-cost way to send money internationally, with a focus on transparency and fair exchange rates. Unlike banks, which add hidden markups to their exchange rates, Wise always gives you the mid-market rate. This means you get more of your money when sending funds abroad.

With low, upfront fees that start from just 0.48%¹⁰, Wise can be a much more affordable alternative to banks and wire transfers. You can send money in 40 currencies and receive in over 10, making it a flexible choice for making personal payments. Plus, same-currency transfers are free, so if you’re moving CAD to another CAD account or USD to USD, you won’t pay a cent.

What services does Tangerine offer in Canada?

While Tangerine doesn’t offer international wire transfers, it does provide a wide selection of everyday banking services. Customers can open a no-fee chequing account, earn interest with high-interest savings accounts, and access cash back credit cards as well as investment options to grow their wealth¹¹.

Finding the Right Alternative to Tangerine for International Transfers

Tangerine is a great option for everyday banking, but if you need to send or receive international wire transfers, unfortunately, you’ll need to look elsewhere. Traditional banks like RBC, TD, BMO, and CIBC offer wire transfer services, but they often come with high fees and less competitive exchange rates.

Alternative options, like Wise, provide a cost-effective way to send money abroad with the mid-market exchange rate and low, transparent fees. If international payments are a priority, choosing the right provider can save you time and money.

Sources:

1. How do I send a wire transfer or wire money? | Tangerine
2. What is your Swift or BIC code? | Tangerine
3. TD Bank | About our accounts and related services
4. RBC International Money Transfers
5. Sending money Internationally with TD Global Bank Transfer
6. Sending and Receiving Wire Transfers | CIBC
7. BMO Money transfers
8. Send money orders from the post office | Canada Post
9. BMO: Sending and receiving money
10. Wise Fees & Pricing: Only Pay for What You Use
11. Tangerine