Compare today's CAD to JMD (Canadian Dollar to Jamaican Dollar) exchange rates
📈 Canada to Jamaica Money Transfer Snapshot Today
- Best CAD to JMD exchange rate today: JMD 117.4589, offered by Western Union
- Number of money transfer providers compared: 4
- Exchange rate range: JMD 112.3600 to JMD 117.4589
- Potential savings on CAD 1000: JMD 5,098.90
- Number of deals and promo codes: 4
- Mid-market
ⓘThe mid-market exchange rate (also called the interbank rate) is the real CAD to JMD exchange rate before providers add their margin or fees. exchange rate: 1 CAD = JMD 115.3005 (Updated about an hour ago)
See detailed Canada to Jamaica money transfer comparison below.
Money Transfer Providers that matched the search criteria
📢 Special exchange rate applied for first transfer
If you are making international business money transfers or payments, RemitFinder can assist by matching you with the best options to suit your unique business needs. Get in touch now to see how we can help protect your business revenue by getting you higher exchange rates and lower transfer fees on international business FX.
💡What today's CAD-JMD exchange rates mean for you
Compare today's CAD-JMD exchange rates and send money from Canada to Jamaica with confidence. View the latest exchange rates, read detailed provider reviews, and discover deals and promo codes — all in one place.
We compared 4 providers facilitating Canada to Jamaica money transfers today. Here is how the market looks like right now:
Today's Most Competitive Canada to Jamaica Providers
🥇 Western Union with 1 CAD = 117.4589 JMD (best CAD to JMD exchange rate today).
🥈 Remitly offering 1 CAD = 113.9400 JMD.
🥉 Sendwave & Ria Money Transfer are also pricing CAD-JMD competitively today.
The exchange rate provided by these 4 providers ranges from JMD 112.3600 to JMD 117.4589. For a CAD 1000 money transfer from Canada to Jamaica, that could mean up to JMD 5,098.90 saved on FX alone.
CAD-JMD exchange rates fluctuate throughout the day, and top positions can change quickly. This can significantly impact the final JMD payout that your recipient gets in Jamaica.
That's why we recommend comparing money transfer providers to ensure you can maximize the value of your Canada to Jamaica remittances.
🔄 Looking for the reverse route? Send money from Jamaica to Canada instead.
Looking for a different option? You can browse all sending countries on our send money from hub, or view all destinations available when sending money from Canada.
👇 Look beyond today's CAD-JMD exchange rate — historical pricing trends show how they can affect the overall transfer cost of your transfer.
Whilst the exchange rate matters, long-term pricing patterns show that exchange rate markup, transfer fees, and payment and delivery methods can significantly influence your final payout.
Below, we analyze Canada to Jamaica historical remittance data to help you understand where costs may arise and strategies to potentially maximize your JMD payout.
Data-driven cost insights for Canada to Jamaica money transfers
When you send money internationally from Canada to Jamaica, the key factors that will influence the overall cost of your transaction are:
- CAD-JMD exchange rate
- Transfer fee
- Payment method
- Delivery method
Ideally, you would want to optimize these 4 factors to try to get the maximum JMD payout for your overseas recipient in Jamaica.
Another counter-balancing aspect is money transfer speed. If you need to rush money from Canada to Jamaica, you may have to compromise on some or all of the above factors.
To put these factors into a better perspective with a data-driven approach, we have analyzed historical remittance pricing1 for the Canada to Jamaica corridor, comparing total transfer costs, FX margins, fees, and payment and delivery methods across providers.
This historical analysis based on actual CAD-JMD transfer data could prove useful in identifying the lowest-cost funding options and payout combinations, thereby helping you reduce transfer costs and maximize the amount received.
Before we deep dive, here are the key trends from our analysis, summarized in an easy to read manner.
📌 Key insights for Canada to Jamaica money transfers
- Typical total cost: 5.89% (range -1.48% to 10.12%, spread 11.60 pp)
- Potential value difference: On a CAD 200 transfer, that spread can save you up to CAD 23.20.
- FX markup (exchange rate margin): 2.85% (range -1.48% to 6.62%, spread 8.10 pp)
- Average transfer fee: CAD 6.08 (range CAD 0.00 to CAD 10.99)
- Cheapest payment/delivery method combo: Bank Account Transfer → Bank Deposit (4.16% avg cost); most expensive is Cash → Cash Pickup (7.99%)
- Method choice impact: Cheapest vs most expensive combo differs by about 3.82 percentage points.
- Market coverage: ~8 active providers (competition level: moderate)
- Typical speed: About 8 hours
What to do next: Compare providers using both exchange rate and fees, then optimize your payment and delivery methods to reduce total cost.
Below, we provide various useful and detailed insights for Canada to Jamaica money transfers.
📈 CAD to JMD exchange rate markup can be the biggest hidden cost
The exchange rate on your Canada to Jamaica money transfers can often be the single biggest factor that will determine your overall CAD cost and your recipient's JMD payout.
To analyze exchange rates, we will rely on the exchange rate markup (also called FX margin) which is the difference between the mid-market
Based on 203 pricing observations across 8 providers over the last 3 years (for a CAD 200 money transfer benchmark), we see the following exchange rate markup ranges for Canadian Dollar to Jamaica transfers:
- Average exchange rate markup: 2.85%
- Median exchange rate markup: 2.54%
- Lowest observed markup: -1.48%
ⓘA negative markup generally represents a promotional exchange rate whereby a provider offers an exchange rate that is even higher than the mid-market rate, often on smaller amounts. - Highest observed markup: 6.62%
That is an FX markup spread of 8.10 percentage points between the lowest and highest observed exchange rate markups.
This spread is important because FX markup is not consistent across providers or payment methods. In other words, a "good deal" on one day or transfer amount can look very different on another.
For example, on a CAD 200 transfer, the above markup range is equivalent to roughly JMD 16.20 purely from differences in the exchange rate. That incremental saving can be JMD 40.50 for a CAD 500 transfer.
How to use this insight: When comparing providers for Canada to Jamaica international remittances, always compare the exchange rate you receive (not just fees). A small difference in the FX markup can outweigh fees quickly, and the impact typically grows as transfer amounts increase.
CAD to JMD exchange rate can be the single most critical cost determining factor for your transfer. When comparing providers, pay close attention to the rate you will get.
💰 Transfer fees influence your total Canada to Jamaica remittance cost
Whilst exchange rate is a major factor affecting total percentage cost, the transfer fee itself can also have a major impact on how much of your Canadian Dollar amount actually reaches your recipient in Jamaica.
Based on 203 pricing observations across 8 providers over the last 3 years (CAD 200 benchmark), we notice the following fee patterns for Canadian Dollar to Jamaica money transfers:
- Average transfer fee: CAD 6.08
- Median transfer fee: CAD 6.00
- Lowest observed fee: CAD 0.00
- Highest observed fee: CAD 10.99
On a CAD 200 transfer, the average fee amount of CAD 6.08 represents 3.04% of the total amount sent.
Looking at the overall fee variation, even if two providers provide similar exchange rates, a worst case transfer fee can reduce the final payout by CAD 10.99 on the same transfer amount.
For larger transfers, fixed fees generally become less significant as a percentage of the total amount. But for smaller transfers, fees can represent a substantial portion of total cost.
How to use this insight: For your next money transfer from Canada to Jamaican Dollar, look for providers that provide lower (or even 0) fees.
One caveat to this, though, is something called the hidden fee. Some providers may hide their fees by providing lower exchange rates (referred to as a hidden fee), so you should also keep an eye on rates whilst paying attention to fees.
💸 Payment and delivery methods matter for CAD-JMD remittances
Based on our detailed analysis of historical pricing on the Canada to Jamaica corridor, we see meaningful variation in overall cost depending on the payment method and delivery method you choose.
Based on 203 pricing observations across 8 providers over the last 3 years (CAD 200 money transfer benchmark), the lowest-cost payment and delivery options consistently differ from the highest-cost ones.
For example, here is the average cost variation for popular payment methods used to send money to Jamaica from Canada:
- Debit Card: 5.28%
- Credit Card: 5.43%
- Bank Account Transfer: 5.60%
- Cash: 7.99%
That is a total spread of 2.71 percentage points.
This means that on a CAD 200 CAD-JMD transfer, you could save (or lose) up to CAD 5.42 simply by choosing from amongst the available payment methods.
The savings will only multiply for higher CAD amounts.
Similarly, here is the average cost of popular delivery methods used to send money to Jamaica:
- Bank Deposit: 4.16%
- Cash Pickup: 6.00%
The difference between the above delivery methods is 1.84 percentage points.
Once again, this means that you could save up to CAD 3.67 on a CAD 200 transfer to Jamaica by choosing Bank Deposit versus Cash Pickup.
As you can imagine, the possible combinations of Canada payment methods and Jamaica delivery methods will all have disparate cost associated with them. Let us look at that next.
Here is a summary table that shows the average cost of payment and delivery method combinations for Canada to JMD money transfers.
| Payment Method | Delivery Method | Avg cost (%) |
|---|---|---|
| Bank Account Transfer | Bank Deposit | 4.16 |
| Debit Card | Cash Pickup | 5.28 |
| Credit Card | Cash Pickup | 5.43 |
| Bank Account Transfer | Cash Pickup | 6.00 |
| Cash | Cash Pickup | 7.99 |
Combinations are sorted by average total cost % (cheapest to most expensive).
As you can see, the cost differential between these CAD-JMD payment and delivery options is significant. To put this in further perspective:
- Bank Account Transfer → Bank Deposit has the lowest average cost at 4.16%.
- Cash → Cash Pickup has the highest average cost at 7.99%.
- Bank Account Transfer → Bank Deposit average cost is 3.82 percentage points lower than Cash → Cash Pickup.
- This means that on a CAD 200 money transfer, you could save up to CAD 15.97 simply by choosing the best payment and delivery method combo.
- Further, on a CAD 500 money transfer, the savings increase to CAD 39.93.
Here is a quick summary of the average historical cost of various payment and delivery methods for CAD to Jamaica money transfers.
💸 Cheapest payment and delivery methods (data-backed)
- Cheapest payment method: Cost of Debit Card averaged 5.28%, compared to 7.99% for Cash, a difference of 2.71 percentage points.
- Cheapest delivery method: Cost of Bank Deposit averaged 4.16%, compared to 6.00% for Cash Pickup (1.84 percentage points higher).
- Cheapest combo: Cost of Bank Account Transfer → Bank Deposit averaged 4.16%, which is 3.82 percentage points lower than Cash → Cash Pickup (7.99%).
How to use this insight: As you compare money transfer providers for your next Canada to Jamaica international money transfer, strive to pair the lowest-cost payment method with the lowest-cost delivery method.
This approach can help you avoid a common remittance pitfall of "cheap exchange rate, expensive methods" that can raise total cost even when the headline exchange rate looks attractive.
You can save money on your Canada to Jamaica remittances by carefully choosing the most economical payment and delivery methods.
🏦 Are banks more expensive than specialist providers for CAD-JMD money transfers?
We compared traditional banks with specialist money transfer providers based on 3 years of pricing data for Canada to Jamaica transfers (CAD 200 benchmark), and noticed some patterns.
Interestingly, on the Canada to Jamaica remittance corridor, traditional banks are 0.24 percentage points cheaper on average than specialist money transfer providers.
In other words, specialist money transfer companies are approximately 0.96x more expensive than banks on average for this benchmark.
Here are the key stats behind this comparison:
| Banks | Specialists | Difference | |
|---|---|---|---|
| Average transfer fee | CAD 4.93 | CAD 6.32 | CAD -1.39 |
| Exchange rate markup | 3.23% | 2.77% | 0.45 pp |
| Average total cost (%) | 5.69% | 5.93% | -0.24 pp |
How to use this insight: Historical data shows that banks in Canada can be competitive in this corridor. However, pricing still varies by provider, transfer amount, and method — so comparing options can still be beneficial.
📊 Does sending more reduce the cost of CAD-JMD money transfers?
To see if transfer cost varies based on the amount sent, we compared the average costs of sending CAD 200 vs CAD 500 from Canada to Jamaica.
We found that sending the higher amount (CAD 500) tends to be cheaper - average cost drops from 5.89% to 4.52%, a reduction of 1.37 percentage points.
It is possible that the cost may continue to drop for higher transfer amounts. That said, always check the latest exchange rates and fees for your transfer amount.
How to use this insight: Since it is generally cheaper to send higher Canadian Dollar amounts to Jamaica, consider consolidating smaller, more frequent transfers into fewer, larger sends as doing so may reduce the total cost you pay.
🏛 How competitive is the Canada to Jamaica remittance market?
Based on 203 pricing observations over the last 3 years (CAD 200 money transfer benchmark), the CAD-JMD corridor is served by 8 active providers on an average.
With 8 providers serving this market, we consider the level of competition in this corridor to be moderate.
Traditional banks represent only 37.5% of active providers in this corridor (3 out of 8), meaning specialist money transfer companies make up the majority.
A corridor with more active providers is typically more competitive, which can translate into better pricing and more payment and delivery options for your Canada to Jamaica remittances.
⏱️ How fast are CAD-JMD money transfers?
Transfer speed can matter just as much as cost, especially when your recipient in Jamaica needs funds urgently.
Based on 203 historical pricing observations across 8 providers over the last 3 years (CAD 200 benchmark), here is what we see for Canada to Jamaica transfers:
- Typical transfer time: About 8 hours.
- Fastest transfer time: About less than 1 hour.
- Slowest transfer time: About 96 hours (~4.0 days).
- Average speed at CAD 200: About 8 hours.
- Average speed at CAD 500: About 8 hours.
Banks vs money transfer providers: We observed that banks take on average 32 hours longer than specialist money transfer providers on this corridor.
How to use this insight: If you need to send money from Canada to Jamaica in a hurry, compare providers not just on exchange rate, but also on expected speed. Speed often varies by payout method (bank vs cash vs wallet) and local rails in Jamaica.
On the Canada to Jamaica corridor, delivery speed can vary across providers, so it is worth comparing transfer speed alongside total cost for time-sensitive money transfers.
Frequently Asked Questions about Canada to Jamaica money transfers
These FAQs use data from RemitFinder's historical analysis of Canada to Jamaica money transfers over several years.
What factors affect the total cost of sending money from Canada to Jamaica?
CAD-JMD exchange rate markup, transfer fees, payment method and delivery method all affect total cost.
The total cost of your CAD-JMD money transfer depends on how you fund the transaction (payment method), how the recipient receives it (delivery method), the exchange rate markup applied, and any transfer fee charged by the provider. You can generally avoid overpaying by comparing various providers.
How much does the exchange rate markup affect Canada to Jamaica transfers?
CAD-JMD exchange rate markup can significantly affect your final payout.
Historical Canadian Dollar to JMD FX markup ranges from -1.48% to 6.62%, a spread of 8.10 percentage points. As you can see, even small differences in the exchange rate markup can easily outweigh fees.
Can CAD-JMD exchange rate markup be negative?
Yes, negative markup can occur for Canada to Jamaica transfers, usually representing a promotional rate.
In some cases, providers may offer promotional exchange rates that are better than the mid-market rate, resulting in a negative CAD-JMD exchange rate markup. These offers are typically limited in size, eligibility, or duration. Compare providers to see if you can take advantage of such special offers.
Is the exchange rate or the fee more important for Canada to Jamaica transfers?
The exchange rate markup contributes more to pricing variation for CAD-JMD transfers (and that remains true at higher amounts).
Exchange rate markup ranges from -1.48% to 6.62% (a spread of 8.10 percentage points). Transfer fees range from CAD 0.00 to CAD 10.99, which equals roughly 5.50 percentage points of a CAD 200.00 transfer.
At both CAD 200.00 and CAD 500.00, the exchange rate markup shows larger variation than the other component.
But regardless, our recommendation is that it is important to compare both exchange rates and fees when choosing a provider for Canada to Jamaica transfers.
As the transfer amount increases, the % impact of fees often decreases (because the fee gets spread across a larger CAD amount), whilst exchange rate markup remains a percentage-based cost that can scale with transfer size.
For smaller transfers, fees can matter more, whilst for larger transfers, exchange rate markup often becomes the bigger driver. Either way, comparing both helps you get the most JMD for your CAD.
How much can Canada to Jamaica transfer costs vary between providers?
Transfer costs can vary significantly depending on provider and method.
Historical transfer costs range from -1.48% to 10.12% for CAD transfers to Jamaica. That is a spread of 11.60 percentage points, meaning the difference between providers can be material.
A major contributor to this variation is exchange rate markup. Markup alone ranges from -1.48% to 6.62% (a spread of 8.10 percentage points). Even small differences in FX margin, therefore, can significantly change the final JMD payout.
Why does the same CAD transfer cost different amounts when sending JMD to Jamaica?
Payment method, delivery method, exchange rate markup, and fees all affect total CAD-JMD cost.
Costs vary because providers apply different Canadian Dollar exchange rate markups, charge different transfer fees, and offer different payment and delivery methods. Even small differences amongst all these factors can significantly change the final payout in JMD in Jamaica.
How stable are transfer costs in the Canada to Jamaica corridor?
Money transfer costs can vary meaningfully across providers and methods in the Canada to Jamaica market.
When we analyzed the historical total cost for CAD-JMD transfers, we observed a range from -1.48% to 10.12% (11.60 percentage points), along with a variability (standard deviation) of about 2.06%.
A major driver of cost in this market is exchange rate markup. Markup ranges from -1.48% to 6.62% (8.10 percentage points), with a standard deviation of about 1.64%. Fees and method choices can contribute to further volatility.
This reinforces why comparing money transfer providers and their services can matter when it comes to getting the most of your CAD-JMD transfers.
Which payment method is cheapest for Canada to Jamaica remittances?
Debit Card is the cheapest payment method in Canada based on average cost.
Debit Card averages 5.28% of total cost compared to Cash at 7.99%, a difference of 2.71 percentage points.
Based on this, we recommend paying for your CAD transfer with Debit Card, and avoiding Cash if possible.
Is Debit Card cheaper than Credit Card for Canada to Jamaica transfers?
Debit Card is cheaper on average when sending money to Jamaica from Canada.
For CAD-JMD transfers, Debit Card funding averages 5.28% compared to 5.43% for Credit Card payments, a difference of 0.15 percentage points.
As a result, we recommend that you avoid paying for your transfer to Jamaica with a Credit Card.
Which delivery method is cheapest for CAD-JMD money transfers?
Bank Deposit is the cheapest delivery method in Jamaica on average.
Bank Deposit averages 4.16% total cost compared to Cash Pickup at 6.00%, a spread of 1.84 percentage points.
If your recipient in Jamaica can accept Bank Deposit, we recommend choose it as your preferred delivery option for CAD-JMD transfers.
Is Bank Deposit cheaper than Cash Pickup for Canada to Jamaica transfers?
Bank Deposit is cheaper on average for transfers to Jamaica.
For CAD transfers to Jamaica, Bank Deposit averages 4.16% versus 6.00% for Cash Pickup, a difference of 1.84 percentage points. To save more, consider choosing the cheapest delivery option for Jamaica.
What is the cheapest way to send money from Canada to Jamaica?
For CAD-JMD transfers, Bank Account Transfer → Bank Deposit has the lowest-cost combination on average.
We evaluated 5 payment and delivery method combinations in the Canada to Jamaica remittance market.
Based on historical averages, Bank Account Transfer → Bank Deposit costs about 4.16% on average. At the other end of the spectrum, Cash → Cash Pickup is the most expensive combination at about 7.99% on average.
The spread between the cheapest and most expensive method combinations is approximately 3.82 percentage points when sending CAD to Jamaica.
Money transfer providers tend to price payment and delivery methods for Canada to Jamaica remittances differently. As you compare options, look for the cheapest payment-delivery method combo to maximize the value of your CAD-JMD transfers.
Does sending more money reduce the cost for Canada to Jamaica transfers?
Larger CAD-JMD transfers are cheaper as a percentage on average.
The cost of a CAD 200 transfer averages 5.89% as compared to 4.52% for a CAD 500 transfer, a difference of 1.37 percentage points.
Note that transfer cost can change quickly based on the CAD amount you send, so ensure to carefully compare providers.
How long does it take to send money from Canada to Jamaica?
Most CAD-JMD transfers complete in about 8 hours.
Based on our analysis, the average transfer time is 8 hours, with the fastest transfers completing in less than one hour and the slowest in 96 hours (~4.0 days).
Are instant transfers available from Canada to Jamaica?
Yes, some transfers to Jamaica from Canada can complete in less than one hour.
Historical data shows that certain providers can complete transfers in under one hour.
Note that the actual speed of your CAD-JMD transfer will depend on the chosen provider, payment method, delivery method, and eligibility checks.
Are banks more expensive than money transfer companies for Canada to Jamaica?
Banks in Canada are competitive and can be cheaper than specialist money transfer providers here.
Banks average 5.69% total cost compared to 5.93% for specialist money transfer providers in Canada, a difference of -0.24 percentage points.
How competitive is the Canada to Jamaica remittance market?
On an average, there have been 8 active providers facilitating CAD-JMD transfers.
Based on historical data, the competition level in Canada to Jamaica is considered moderate with 8 active providers.
Specialist money transfer providers represent about 62.5% of identified providers in Canada.
Do I risk overpaying if I do not compare providers for Canada to Jamaica?
The difference between providers servicing Canada to Jamaica can be meaningful, especially as the CAD transfer amounts increase.
Historically, total CAD-JMD transfer cost has varied by about 11.60 percentage points. On a CAD 200 transfer, that can translate to roughly CAD 23.20 in savings.
CAD-JMD exchange rate markup also varies across providers. The average markup spread has been about 8.10 percentage points. On a CAD 200 transfer, that is roughly CAD 16.20 saved from FX alone.
Fees can also make a big difference in this market. The fee difference across providers has been about CAD 10.99 traditionally.
That is why comparing providers can materially change how much of the CAD you send does your recipient receive in Jamaica in Jamaica.
Latest CAD to JMD Conversion Rates
Here are some latest CAD to JMD (Canadian Dollar to Jamaican Dollar) exchange rates for popular conversion amounts*.
| 1 CAD | 115.30 JMD |
| 5 CAD | 576.50 JMD |
| 10 CAD | 1,153.01 JMD |
| 25 CAD | 2,882.51 JMD |
| 50 CAD | 5,765.03 JMD |
| 100 CAD | 11,530.05 JMD |
| 150 CAD | 17,295.08 JMD |
| 200 CAD | 23,060.10 JMD |
| 250 CAD | 28,825.13 JMD |
| 300 CAD | 34,590.15 JMD |
| 400 CAD | 46,120.20 JMD |
| 500 CAD | 57,650.25 JMD |
| 600 CAD | 69,180.30 JMD |
| 700 CAD | 80,710.35 JMD |
| 800 CAD | 92,240.40 JMD |
| 1000 CAD | 115,300.50 JMD |
| 1500 CAD | 172,950.75 JMD |
| 2000 CAD | 230,601.00 JMD |
| 2500 CAD | 288,251.25 JMD |
| 3000 CAD | 345,901.50 JMD |
| 4000 CAD | 461,202.00 JMD |
| 5000 CAD | 576,502.50 JMD |
| 10000 CAD | 1,153,005.00 JMD |
| 15000 CAD | 1,729,507.50 JMD |
| 20000 CAD | 2,306,010.00 JMD |
| 30000 CAD | 3,459,015.00 JMD |
| 40000 CAD | 4,612,020.00 JMD |
| 50000 CAD | 5,765,025.00 JMD |
| 100000 CAD | 11,530,050.00 JMD |
*Based on the Mid-market
1 Based on 203 pricing observations across 8 firms over the last 3 years for a CAD 200 money transfer from Canada to Jamaica. Data Source: The World Bank, Remittance Prices Worldwide, available at http://remittanceprices.worldbank.org.
How we analyze remittance data?
Insights are derived from the World Bank's Remittance Prices Worldwide dataset, which collects standardized provider pricing information at defined transfer amounts.
We aggregate this data across multiple providers and multi-year periods to calculate averages, medians, and variability measures in order to identify consistent pricing patterns for the Canada to Jamaica remittance corridor.
RemitFinder does not modify the underlying World Bank data. The analysis presented here is independently calculated from published datasets and is intended for informational and comparison purposes only.