Remitting from Canada to Haiti

The following table shows how much it costs to remit money from Canada To Haiti. Click on column headings to sort the data.

Note: Corridor averages are unweighted and do not reflect the market shares of the different firms that compose the average. For comparability purposes, the two initial USD reference amounts of $200 and $500 were kept. In the third quarter of 2009, the amounts in local currency were adjusted in order to reflect foreign exchange fluctuations.

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Collection period for Third quarter 2009 | First quarter 2009 | 2008

See prices in CAD | USD

216540

				Total cost
Firm name	Firm type	Fee (CAD)	Exchange rate margin (%)	Percent (%)	CAD	Transfer speed	Network Coverage	Date
iKobo	MTO	11.50	0.00	5.32	11.49	6 days or more	Nationwide	Aug 14, 2009
ScotiaBank	Bank	11.16	3.30	8.46	18.27	Less than one hour	Nationwide	Aug 14, 2009
MoneyGram	MTO	15.00	2.20	9.14	19.74	Less than one hour	Nationwide	Aug 14, 2009
Royal Bank of Canada	Bank	15.00	2.20	9.14	19.74	3-5 days	Nationwide	Aug 14, 2009
Western Union	MTO	16.99	3.30	11.16	24.11	Less than one hour	Nationwide	Aug 14, 2009
Western Union	MTO	20.00	3.30	12.56	27.13	Less than one hour	Nationwide	Aug 14, 2009
Bank of Montreal	Bank	25.00	2.20	13.77	29.74	3-5 days	Nationwide	Aug 14, 2009
ScotiaBank	Bank	24.00	3.30	14.41	31.13	3-5 days	Nationwide	Aug 14, 2009
Toronto Dominion Bank	Bank	30.00	1.10	14.99	32.38	3-5 days	Nationwide	Aug 14, 2009
Royal Bank of Canada	Bank	42.00	2.20	21.64	46.74	3-5 days	Nationwide	Aug 14, 2009
CIBC	Bank	44.00	9.89	30.26	65.36	3-5 days	Nationwide	Aug 14, 2009
Bank Average		27.31	3.45	16.10	34.78
MTO Average		15.87	2.20	9.55	20.63
Total Average		23.15	3.00	13.71	29.61
Total Average in First Quarter 2009		25.64	2.32	15.14	32.70

	Total cost
Firm name	Firm type	Fee (CAD)	Exchange rate margin (%)	Percent (%)	CAD	Transfer speed	Network Coverage	Date
iKobo	MTO	21.25	0.00	4.25	22.95	6 days or more	Nationwide	Aug 14, 2009
Royal Bank of Canada	Bank	15.00	2.20	5.20	28.08	3-5 days	Nationwide	Aug 14, 2009
ScotiaBank	Bank	14.40	3.30	6.18	33.37	Less than one hour	Nationwide	Aug 14, 2009
Toronto Dominion Bank	Bank	30.00	1.10	7.10	38.34	3-5 days	Nationwide	Aug 14, 2009
Bank of Montreal	Bank	25.00	2.20	7.20	38.88	3-5 days	Nationwide	Aug 14, 2009
MoneyGram	MTO	25.00	2.20	7.20	38.88	Less than one hour	Nationwide	Aug 14, 2009
Western Union	MTO	33.00	3.30	9.90	53.46	Less than one hour	Nationwide	Aug 14, 2009
Western Union	MTO	35.00	3.30	10.30	55.62	Less than one hour	Nationwide	Aug 14, 2009
Royal Bank of Canada	Bank	42.00	2.20	10.60	57.24	3-5 days	Nationwide	Aug 14, 2009
CIBC	Bank	44.00	9.89	18.69	100.93	3-5 days	Nationwide	Aug 14, 2009
ScotiaBank	Bank	24.00	14.29	19.09	103.09	3-5 days	Nationwide	Aug 14, 2009
Bank Average		27.77	5.02	10.58	57.13
MTO Average		28.56	2.20	7.91	42.71
Total Average		28.06	4.00	9.61	51.89
Total Average in First Quarter 2009		28.07	2.32	7.94	42.88

Corridor note

In this corridor all RSPs send USD. At the point of collection, the money may be paid out in USD or converted to the local currency. Remittance recipients may incur an additional cost (not shown here) if and when converting the USD to the local currency.

200500

				Total cost
Firm name	Firm type	Fee (USD)	Exchange rate margin (%)	Percent (%)	USD	Transfer speed	Network Coverage	Date
iKobo	MTO	11.50	0.00	5.32	10.64	6 days or more	Nationwide	Aug 14, 2009
ScotiaBank	Bank	10.33	3.30	8.46	16.92	Less than one hour	Nationwide	Aug 14, 2009
MoneyGram	MTO	13.89	2.20	9.14	18.28	Less than one hour	Nationwide	Aug 14, 2009
Royal Bank of Canada	Bank	13.89	2.20	9.14	18.28	3-5 days	Nationwide	Aug 14, 2009
Western Union	MTO	15.73	3.30	11.16	22.32	Less than one hour	Nationwide	Aug 14, 2009
Western Union	MTO	18.52	3.30	12.56	25.12	Less than one hour	Nationwide	Aug 14, 2009
Bank of Montreal	Bank	23.15	2.20	13.77	27.54	3-5 days	Nationwide	Aug 14, 2009
ScotiaBank	Bank	22.22	3.30	14.41	28.82	3-5 days	Nationwide	Aug 14, 2009
Toronto Dominion Bank	Bank	27.78	1.10	14.99	29.98	3-5 days	Nationwide	Aug 14, 2009
Royal Bank of Canada	Bank	38.89	2.20	21.64	43.28	3-5 days	Nationwide	Aug 14, 2009
CIBC	Bank	40.74	9.89	30.26	60.52	3-5 days	Nationwide	Aug 14, 2009
Bank Average		25.29	3.45	16.10	32.20
MTO Average		14.91	2.20	9.55	19.10
Total Average		21.51	3.00	13.71	27.42
Total Average in First Quarter 2009		25.64	2.32	15.14	30.28

	Total cost
Firm name	Firm type	Fee (USD)	Exchange rate margin (%)	Percent (%)	USD	Transfer speed	Network Coverage	Date
iKobo	MTO	21.25	0.00	4.25	21.25	6 days or more	Nationwide	Aug 14, 2009
Royal Bank of Canada	Bank	13.89	2.20	5.20	26.00	3-5 days	Nationwide	Aug 14, 2009
ScotiaBank	Bank	13.33	3.30	6.18	30.90	Less than one hour	Nationwide	Aug 14, 2009
Toronto Dominion Bank	Bank	27.78	1.10	7.10	35.50	3-5 days	Nationwide	Aug 14, 2009
Bank of Montreal	Bank	23.15	2.20	7.20	36.00	3-5 days	Nationwide	Aug 14, 2009
MoneyGram	MTO	23.15	2.20	7.20	36.00	Less than one hour	Nationwide	Aug 14, 2009
Western Union	MTO	30.56	3.30	9.90	49.50	Less than one hour	Nationwide	Aug 14, 2009
Western Union	MTO	32.41	3.30	10.30	51.50	Less than one hour	Nationwide	Aug 14, 2009
Royal Bank of Canada	Bank	38.89	2.20	10.60	53.00	3-5 days	Nationwide	Aug 14, 2009
CIBC	Bank	40.74	9.89	18.69	93.45	3-5 days	Nationwide	Aug 14, 2009
ScotiaBank	Bank	22.22	14.29	19.09	95.45	3-5 days	Nationwide	Aug 14, 2009
Bank Average		25.71	5.02	10.58	52.90
MTO Average		26.84	2.20	7.91	39.55
Total Average		26.12	4.00	9.61	48.05
Total Average in First Quarter 2009		28.07	2.32	7.94	39.70

Corridor note

200500

				Total cost
Firm name	Firm type	Fee (CAD)	Exchange rate margin (%)	Percent (%)	CAD	Transfer speed	Network Coverage	Date
ScotiaBank	Bank	12.50	2.50	8.75	17.50	3-5 days	Nationwide	Feb 11, 2009
MoneyGram	MTO	15.00	2.50	10.00	20.00	Less than one hour	Nationwide	Feb 11, 2009
Western Union	MTO	18.00	2.50	11.50	23.00	Less than one hour	Nationwide	Feb 11, 2009
Bank of Montreal	Bank	25.00	1.25	13.75	27.50	3-5 days	Nationwide	Feb 11, 2009
Toronto Dominion Bank	Bank	30.00	1.25	16.25	32.50	3-5 days	Nationwide	Feb 11, 2009
Royal Bank of Canada	Bank	35.00	2.50	20.00	40.00	3-5 days	Nationwide	Feb 11, 2009
CIBC	Bank	44.00	3.75	25.75	51.50	3-5 days	Nationwide	Feb 11, 2009
Bank Average		29.30	2.25	16.90	33.80
MTO Average		16.50	2.50	10.75	21.50
Total Average		25.64	2.32	15.14	30.28
Total Average in 2008		26.55	1.19	14.46	28.92

	Total cost
Firm name	Firm type	Fee (CAD)	Exchange rate margin (%)	Percent (%)	CAD	Transfer speed	Network Coverage	Date
ScotiaBank	Bank	12.50	2.50	5.00	25.00	3-5 days	Nationwide	Feb 11, 2009
Bank of Montreal	Bank	25.00	1.25	6.25	31.25	3-5 days	Nationwide	Feb 11, 2009
MoneyGram	MTO	20.00	2.50	6.50	32.50	Less than one hour	Nationwide	Feb 11, 2009
Toronto Dominion Bank	Bank	30.00	1.25	7.25	36.25	3-5 days	Nationwide	Feb 11, 2009
Western Union	MTO	30.00	2.50	8.50	42.50	Less than one hour	Nationwide	Feb 11, 2009
Royal Bank of Canada	Bank	35.00	2.50	9.50	47.50	3-5 days	Nationwide	Feb 11, 2009
CIBC	Bank	44.00	3.75	12.55	62.75	3-5 days	Nationwide	Feb 11, 2009
Bank Average		29.30	2.25	8.11	40.55
MTO Average		25.00	2.50	7.50	37.50
Total Average		28.07	2.32	7.94	39.70
Total Average in 2008		29.77	1.19	7.14	35.70

Corridor note

200500

				Total cost
Firm name	Firm type	Fee (USD)	Exchange rate margin (%)	Percent (%)	USD	Transfer speed	Network Coverage	Date
ScotiaBank	Bank	12.50	2.50	8.75	17.50	3-5 days	Nationwide	Feb 11, 2009
MoneyGram	MTO	15.00	2.50	10.00	20.00	Less than one hour	Nationwide	Feb 11, 2009
Western Union	MTO	18.00	2.50	11.50	23.00	Less than one hour	Nationwide	Feb 11, 2009
Bank of Montreal	Bank	25.00	1.25	13.75	27.50	3-5 days	Nationwide	Feb 11, 2009
Toronto Dominion Bank	Bank	30.00	1.25	16.25	32.50	3-5 days	Nationwide	Feb 11, 2009
Royal Bank of Canada	Bank	35.00	2.50	20.00	40.00	3-5 days	Nationwide	Feb 11, 2009
CIBC	Bank	44.00	3.75	25.75	51.50	3-5 days	Nationwide	Feb 11, 2009
Bank Average		29.30	2.25	16.90	33.80
MTO Average		16.50	2.50	10.75	21.50
Total Average		25.64	2.32	15.14	30.28
Total Average in 2008		26.55	1.19	14.46	28.92

	Total cost
Firm name	Firm type	Fee (USD)	Exchange rate margin (%)	Percent (%)	USD	Transfer speed	Network Coverage	Date
ScotiaBank	Bank	12.50	2.50	5.00	25.00	3-5 days	Nationwide	Feb 11, 2009
Bank of Montreal	Bank	25.00	1.25	6.25	31.25	3-5 days	Nationwide	Feb 11, 2009
MoneyGram	MTO	20.00	2.50	6.50	32.50	Less than one hour	Nationwide	Feb 11, 2009
Toronto Dominion Bank	Bank	30.00	1.25	7.25	36.25	3-5 days	Nationwide	Feb 11, 2009
Western Union	MTO	30.00	2.50	8.50	42.50	Less than one hour	Nationwide	Feb 11, 2009
Royal Bank of Canada	Bank	35.00	2.50	9.50	47.50	3-5 days	Nationwide	Feb 11, 2009
CIBC	Bank	44.00	3.75	12.55	62.75	3-5 days	Nationwide	Feb 11, 2009
Bank Average		29.30	2.25	8.11	40.55
MTO Average		25.00	2.50	7.50	37.50
Total Average		28.07	2.32	7.94	39.70
Total Average in 2008		29.77	1.19	7.14	35.70

Corridor note

200500

				Total cost
Firm name	Firm type	Fee (CAD)	Exchange rate margin (%)	Percent (%)	CAD	Transfer speed	Network Coverage	Date
Canada Post	Post office	4.95	0.18	2.66	5.32	2-3 days	-	May 21, 2008
Fonkoze	MTO	10.00	0.18	5.18	10.36	Same day	-	May 21, 2008
MoneyGram	MTO	15.00	0.18	7.68	15.36	Instant	-	May 21, 2008
Western Union	MTO	27.00	1.19	14.69	29.38	Instant	-	May 21, 2008
Toronto Dominion Bank	Bank	30.00	0.18	15.18	30.36	3-5 days- electronic	-	May 21, 2008
CIBC	Bank	30.00	3.21	18.21	36.42	3-5 days- electronic	-	May 21, 2008
Bank of Montreal	Bank	35.00	3.21	20.71	41.42	3-5 days- electronic	-	May 21, 2008
ScotiaBank	Bank	42.00	0.18	21.18	42.36	3-5 days- electronic	-	May 21, 2008
Royal Bank of Canada	Bank	45.00	2.20	24.70	49.40	3-5 days- electronic	-	May 21, 2008
Bank Average		36.40	1.79	19.99	39.98
MTO Average		17.33	0.52	9.18	18.36
Post office Average		4.95	0.18	2.66	5.32
Total Average		26.55	1.19	14.46	28.92
First Quarter 2009		25.64	2.32	15.14	30.28

	Total cost
Firm name	Firm type	Fee (CAD)	Exchange rate margin (%)	Percent (%)	CAD	Transfer speed	Network Coverage	Date
Canada Post	Post office	4.95	0.18	1.17	5.85	2-3 days	-	May 21, 2008
Fonkoze	MTO	10.00	0.18	2.18	10.90	Same day	-	May 21, 2008
MoneyGram	MTO	20.00	0.18	4.18	20.90	Instant	-	May 21, 2008
Toronto Dominion Bank	Bank	30.00	0.18	6.18	30.90	3-5 days- electronic	-	May 21, 2008
ScotiaBank	Bank	42.00	0.18	8.58	42.90	3-5 days- electronic	-	May 21, 2008
CIBC	Bank	30.00	3.21	9.21	46.05	3-5 days- electronic	-	May 21, 2008
Bank of Montreal	Bank	35.00	3.21	10.21	51.05	3-5 days- electronic	-	May 21, 2008
Royal Bank of Canada	Bank	45.00	2.20	11.20	56.00	3-5 days- electronic	-	May 21, 2008
Western Union	MTO	51.00	1.19	11.39	56.95	Instant	-	May 21, 2008
Bank Average		36.40	1.79	9.07	45.35
MTO Average		27.00	0.52	5.92	29.60
Post office Average		4.95	0.18	1.17	5.85
Total Average		29.77	1.19	7.14	35.70
First Quarter 2009		28.07	2.32	7.94	39.70

Corridor note

The exchange rate column reflects the fact that money is sent in USD. At the point of collection, the money is converted to the local currency. Remittance recipients may incur an additional cost (not shown here) if and when converting the USD to the local currency.

200500

				Total cost
Firm name	Firm type	Fee (USD)	Exchange rate margin (%)	Percent (%)	USD	Transfer speed	Network Coverage	Date
Canada Post	Post office	4.95	0.18	2.66	5.32	2-3 days	-	May 21, 2008
Fonkoze	MTO	10.00	0.18	5.18	10.36	Same day	-	May 21, 2008
MoneyGram	MTO	15.00	0.18	7.68	15.36	Instant	-	May 21, 2008
Western Union	MTO	27.00	1.19	14.69	29.38	Instant	-	May 21, 2008
Toronto Dominion Bank	Bank	30.00	0.18	15.18	30.36	3-5 days- electronic	-	May 21, 2008
CIBC	Bank	30.00	3.21	18.21	36.42	3-5 days- electronic	-	May 21, 2008
Bank of Montreal	Bank	35.00	3.21	20.71	41.42	3-5 days- electronic	-	May 21, 2008
ScotiaBank	Bank	42.00	0.18	21.18	42.36	3-5 days- electronic	-	May 21, 2008
Royal Bank of Canada	Bank	45.00	2.20	24.70	49.40	3-5 days- electronic	-	May 21, 2008
Bank Average		36.40	1.79	19.99	39.98
MTO Average		17.33	0.52	9.18	18.36
Post office Average		4.95	0.18	2.66	5.32
Total Average		26.55	1.19	14.46	28.92
First Quarter 2009		25.64	2.32	15.14	30.28

	Total cost
Firm name	Firm type	Fee (USD)	Exchange rate margin (%)	Percent (%)	USD	Transfer speed	Network Coverage	Date
Canada Post	Post office	4.95	0.18	1.17	5.85	2-3 days	-	May 21, 2008
Fonkoze	MTO	10.00	0.18	2.18	10.90	Same day	-	May 21, 2008
MoneyGram	MTO	20.00	0.18	4.18	20.90	Instant	-	May 21, 2008
Toronto Dominion Bank	Bank	30.00	0.18	6.18	30.90	3-5 days- electronic	-	May 21, 2008
ScotiaBank	Bank	42.00	0.18	8.58	42.90	3-5 days- electronic	-	May 21, 2008
CIBC	Bank	30.00	3.21	9.21	46.05	3-5 days- electronic	-	May 21, 2008
Bank of Montreal	Bank	35.00	3.21	10.21	51.05	3-5 days- electronic	-	May 21, 2008
Royal Bank of Canada	Bank	45.00	2.20	11.20	56.00	3-5 days- electronic	-	May 21, 2008
Western Union	MTO	51.00	1.19	11.39	56.95	Instant	-	May 21, 2008
Bank Average		36.40	1.79	9.07	45.35
MTO Average		27.00	0.52	5.92	29.60
Post office Average		4.95	0.18	1.17	5.85
Total Average		29.77	1.19	7.14	35.70
First Quarter 2009		28.07	2.32	7.94	39.70

Corridor note

Least costly corridors to Haiti
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