This blog was developed in partnership with Beacon.

Picture this: You’re a Canadian resident wanting to send money to your family back home. You walk into your local bank, expecting to pay a little extra in fees. When all is said and done, you’ve actually spent closer to $150 on the process alone — and that’s before considering the poor exchange rate taking more of your hard-earned money.

Whether you’re supporting family members outside of Canada or paying international bills, understanding these challenges can save you hundreds of dollars annually. The good news? Once you know what to look for, you can easily avoid these pitfalls and find better alternatives. Let’s explore the biggest challenges when sending money from Canada and, more importantly, how to overcome them.

1. Hidden Fees That Drain Your Transfer

Low transfer fees are often advertised, but what they don’t tell you upfront is that these transfer fees are just the tip of the iceberg.

Beyond the stated transfer fee, you may encounter large service fees or hidden charges, like currency conversion markups that can add to your transaction.

Image of person stressed when sending money. — Credit: Sarah B

2. Slow Transfer Speeds When Time Matters

Traditional bank processing times typically take three to five business days, but here’s what they don’t tell you: weekends don’t count, neither do holidays, and if there’s any hiccup in the process, you’re looking at a full week or more.

Think about the Weekend Wasteland. If you need to send money on a Friday evening, your money is unlikely to meet the recipients until the following Wednesday. For newcomers who might be dealing with time-sensitive situations back home, this delay can be more than inconvenient — it can be devastating.

Medical emergencies don’t wait for business hours, nor do urgent bill payments or time-sensitive opportunities. Traditional banks treat all transfers the same, whether you’re paying a routine bill or covering emergency medical expenses for a family member.

Fortunately, some modern alternatives can process transfers within hours, not days, giving you peace of mind when timing matters most.

Image of person using Beacon app for sending money. — Credit: Andrej Lišakov

3. Complex Documentation and Compliance Headaches

Sending money to family in India requires different documentation than sending money to the United States. Some countries require purpose codes; others need recipient bank details that are formatted in a specific way. Get one digit wrong in an International Bank Account Number, and your transfer bounces back — along with additional fees.

While this sounds daunting, the solution is simpler than you might think. Be patient and careful. Take your time to double-check numbers as you enter them. This small effort will help prevent costly human errors that, unfortunately, just happen sometimes. And don’t be too hard on yourself if you make a mistake. It’s a learning experience in the end.

Image of people reviewing documentation before sending money. — Credit: Getty Images

4. Poor Customer Service When Transfers Go Wrong

When your transfer goes missing, you’ll often be caught up in support among different departments. The domestic banking team can’t help with international transfers, and the international team may only be available during business hours.

The bright side? Customer service is where modern transfer companies shine, offering real-time chat support and dedicated international specialists who understand the process.

For many newcomers, sending money home is both a privilege and a responsibility. When the process is expensive, slow, and unreliable, it adds unnecessary stress to an already challenging situation. The emotional cost of worrying about whether your family received the money they need for rent, medical bills, or education can be enormous.

The Good News: Better Alternatives Are Here

Here’s the encouraging part! You don’t have to accept these pain points as inevitable. There are better ways to send money from Canada, and they’re more accessible than ever.

Companies like Beacon are revolutionizing how global Canadians send money abroad. Modern transfer services focus on what matters: getting your money to your family quickly, safely, and affordably.

These services offer transparent pricing, real-time exchange rates, and transfers that arrive when they’re supposed to. No hidden fees, no weekend delays, and no confusing documentation requirements.

Image of person using the Beacon app for sending money. — Credit: Julio Lopez

Expert Tips: Maximizing Your International Transfer Value

Documentation Preparation

Have these ready before starting any transfer:

Recipient’s full name (exactly as it appears on their bank account).
Complete bank details.
Valid identification.

Red Flags to Avoid

Be wary of services that:

Don’t clearly display exchange rates.
Don’t provide tracking information.
Are not regulated by financial authorities.

Your Path to Sending Money Transfers Easily

The frustrating points we’ve covered are all solvable problems with today’s technology.

The key is understanding that you have choices, and those choices are better than ever. Alternatives like Beacon are proving that international money transfers can be transparent, fast, and affordable.

As a newcomer to Canada, you’re already successfully navigating significant challenges and building a new life. Don’t add unnecessary stress and expense to your journey. With the right knowledge and tools, you can send money home with confidence, knowing your family will receive exactly what you intended, when they need it.