EFT Payments
in Canada
Electronic Funds Transfer via Payments Canada's AFT clearing — lower cost, 1–3 day settlement.
EFT in Canada
Canadian Dollar · CAD
Contractor must provide institution number, transit number, and account number.
Payment Journey
You fund in USD, stablecoin, or BTC — your contractor in Canada chooses how they receive it.
Fund your Bitwage Balance
USD via wire/ACH/FedNow, stablecoin (USDC/USDT), or BTC. Fund once — use for all payments.
Create a payment run
Add your Canada contractor(s) to a batch or individual payment. Set the amount in USD — Bitwage handles everything else.
Converts & delivers via EFT
FX rate locks at approval. Bitwage converts USD → local currency and routes the payment via EFT. Compliance screened automatically.
Funds arrive via EFT
Settlement: 1–3 business days. Fees: 0.3–0.8%. Contractor can also choose USDC, USDT, or Bitcoin instead — they set their preference once.
How EFT Works in Canada
Bitwage submits an EFT credit instruction through Payments Canada's AFT system. The payment clears through the Canadian interbank network within 1–3 business days.
Compliance & Security
Canadian contractors (sole proprietors or incorporated) must register with CRA, collect and remit HST/GST above the $30K threshold, and declare all foreign income. Bitwage performs OFAC and FINTRAC compliance screening.
The CAD is closely correlated with USD but fluctuates with oil prices and Bank of Canada policy. Bitwage locks the USD/CAD rate at execution to give contractors certainty on their loonie-equivalent payment.
EFT in Canada FAQ
Common questions about EFT payments, settlement, fees, and requirements.
EFT payments to Canada typically settle in 1–3 business days. Bitwage locks your FX rate lock at execution time so recipients receive exactly the amount shown in the payment preview.
Bitwage charges 0.3–0.8% for EFT payments to Canada. There are no hidden per-transfer fees beyond the displayed rate. You can see the full cost breakdown before executing via our {{link:products/contractor-payments}} platform.
Contractor must provide institution number, transit number, and account number. Bitwage validates all payment details before executing. For batch payments to multiple contractors, use {{link:products/masspay}} to upload a CSV with all recipient details at once.
Yes. With {{link:products/masspay}} you can include any number of Canada-based contractors in a single payment run, mixing EFT with other local rails. All FX conversions are locked at batch payment processing execution time.
Start Sending EFT Payments to Canada
Settlement in 1–3 business days. Fees from 0.3–0.8%. OFAC screened on every payment.