How international money transfers work

An international money transfer is a payment sent from one country to another. In Canada, the Financial Consumer Agency of Canada says this process works by having a business or financial institution in Canada send transaction details to an agent, business, or bank in the destination country, which then makes the funds available to the recipient. Depending on the service, the money may be received as cash, a bank deposit, or a  credit to a card.

International money transfers are a routine part of modern financial life. They can be used for remittances, family support, tuition, emergency assistance, contractor payments, supplier invoices, and many other day-to-day or occasional cross-border needs. What matters most to users is usually not the mechanics of how a transaction is handled behind the scenes, but whether the money arrives quickly and with as little value lost to fees as possible.

In a traditional setup, a sender initiates a transfer through a bank or a transfer provider. That provider routes the payment through its own systems and partner institutions before the recipient collects the funds. This process may involve exchange-rate conversion, intermediary institutions, and compliance checks. This is one of the main reasons why international transfers feel more complicated and take longer to complete. Arrival times can range from a few minutes to a few days, depending on the service and destination.

The advertised fee is just a component of the real cost. Senders and recipients need to pay attention to exchange-rate markups, fees in the receiving country, and the reality that faster delivery options often cost more. In other words, the transfer may appear inexpensive upfront while still reducing the amount the recipient actually receives.

Crypto and stablecoin transfers can move on blockchain networks 24/7 instead of being tied entirely to traditional banking windows. They can also make the path of value movement more transparent, since the sender can often track the transfer more directly from the originating platform to the receiving wallet or exchange account. That does not eliminate every cost, because network fees and local cash-out costs can still matter, but it changes the structure of the transfer in a way many users find more flexible. Timing still depends on the network, congestion, required confirmations, and the recipient’s local cash-out method.

For Canadian users who already understand the risks of crypto assets and are comfortable making their own decisions, Ndax provides access to supported digital assets and blockchain withdrawal networks. For example, a user may fund an Ndax account in CAD, buy a supported digital asset, and withdraw that asset to a compatible external wallet address.

As of May 2026, Ndax charges a flat 0.20% trading fee and offers free CAD deposits. Fees, supported assets, and supported networks may change, so users should review the current fee schedule and supported-network information before making a transaction. Ndax also supports USDC on Polygon, Ethereum, and BNB Smart Chain, which may give users more network options when considering compatibility, network fees, and transfer timing. Users should confirm that the receiving wallet or platform supports the same asset and network before sending.

Blockchain transfers are not the same as traditional remittance services. Network fees, withdrawal fees, exchange-rate movements, cash-out costs, and receiving-platform fees may affect the final amount available to the recipient. Transfers may also be delayed by network congestion, required confirmations, compliance reviews, or recipient-side processing. 

Traditional money transfer providers may still be appropriate when a recipient needs cash pickup, direct bank deposit, or familiar local payment rails. Blockchain-based transfers may be another option for users who understand the risks and want to move digital assets using supported networks. That does not mean digital rails should replace every traditional remittance method. It does mean Canadians now have more choice in how they move value across borders.

Ndax can provide Canadian users with access to supported digital assets and blockchain withdrawal functionality, but users should compare the full cost, timing, risks, and recipient-side requirements before deciding which method is appropriate for their needs.