Talk to our team

Get paid

Interac e-TransferUp to $25,000 each, no daily limitSecure e-TransferCheck each payment before you accept itCheckout and e-Transfer requestsGet paid by e-Transfer online

Pay out

EFT and direct depositYour own deposit details, 1 business dayBulk paymentsPayroll and contractor payouts at onceWire transfersSame-day wires in and out, in CAD

Crypto and build

Crypto on- and off-rampIn and out of cryptoAPIEvery rail in your own systems

Featured

All railsEvery rail on one pagee-Transfer, EFT, wires, crypto and API

Money services, crypto and high-risk

Money services businessesPayment rails for Canadian MSBsRemittance companiesCollect every customer e-TransferCurrency exchangeCanadian pay-ins for FX businessesATM operatorsSettlements in, carrier paidCrypto businessesCAD in and CAD outCrypto OTC desksCheck payments, restock by EFTBitcoin ATM operatorsCarrier deposits to restockHigh-risk businessesReach out to learn moreiGaming and sports bettingCasino and sportsbook payments in CADPSPs and fintechsEvery rail through one API

Everyday accounts

Small businessese-Transfer requests, payroll and suppliersFreelancersGet paid by e-TransferIndividualsUp to $25,000 in one e-Transfer

Watch how money moves

Remittance companiesCrypto OTC desksBitcoin ATM operatorsATM operatorsSmall businessesAll industries

Get started

How onboarding worksApply, approval, first paymentPricingPer transaction, publishedHelp CentreAnswers and support tickets

Learn

BlogCanadian payments, explainedUse-case videosOne business, one flow of funds

Company

About usBased in Red Deer, AlbertaSecurity and complianceRegistrations and safeguardingPartner programmeRefer the MSBs you registerContact+1 (587) 288-5511
Interac e-TransferSecure e-TransferCheckout and e-Transfer requestsEFT and direct depositBulk paymentsWire transfersCrypto on- and off-rampAPI
Money services businessesRemittance companiesCurrency exchangeATM operatorsCrypto businessesCrypto OTC desksBitcoin ATM operatorsHigh-risk businessesiGaming and sports bettingPSPs and fintechsSmall businessesFreelancersIndividuals
How onboarding worksPricingHelp CentreBlogUse-case videosAbout usSecurity and compliancePartner programmeContact
PricingCompanyLog inTalk to our team

Payments for Canadian currency exchange businesses.

Invincible Pay takes payments for currency exchange businesses in Canada, in Canadian dollars only. Customers pay by Interac e-Transfer at the counter or online, and you settle with your liquidity provider by EFT or same-day wire.

Talk to our team

FINTRAC MSB C100000702Bank of Canada PSP registryWe reply within 24 hours

Day closeThursday, October 22CAD
At the counter14 Interac e-Transfers
$18,240.00
Online orders17 Interac e-Transfers
$28,740.00
Received today
$46,980.00
Wire sentSame day, to your liquidity provider
−$46,500.00

Canadian dollars only. Your liquidity provider does the converting.

Order 4417Paid
$2,750.00e-Transfer request
Customers payOne walletCAD outProvider convertsCustomers paidHow money moves

Why currency exchanges struggle with banks

A currency exchange lives on Canadian dollars coming in from customers and going out to its liquidity provider. Banks and payment providers make both sides slow.

  1. Foreign exchange gets you turned away

    Dealing in foreign exchange makes you a money service business. A typical bank rejects MSBs, however long your counter has been open.

  2. Your provider is waiting on CAD

    Your liquidity provider settles once your Canadian dollars arrive. A typical bank's e-Transfer limit of around $10,000 is gone early on a busy day at the counter.

Canadian dollars in and out, conversion left to you

Customers pay you by Interac e-Transfer, at the counter or online. You settle with your liquidity provider by EFT or a same-day wire. We never convert currency, so the rate stays between you and your provider.

Talk to our team
Canadian dollarsCollected and settled in your Invincible Pay wallet
ConversionWith your liquidity provider
Foreign currencyBetween you and your provider

Take CAD at the counter and online

Walk-in customers and online orders pay the same way, by Interac e-Transfer, into the same wallet.

At your counter

Send the customer an Interac e-Transfer request for the Canadian dollar amount. They accept it in their banking app, and the payment lands in your wallet.

e-Transfer request sentWaiting
$1,320.00Counter, 11:42 am
Interac e-Transfer receivedDeposited
$1,320.00Counter, 11:44 am

Online orders

A customer orders currency on your website and pays at checkout. e-Transfer checkout ties each payment to its order number, so you know which order to have ready.

Order 4432, e-Transfer requestPaid
$2,180.00Ready for pickup

How Canadian dollars move through a currency exchange

The Canadian dollars, from the customer at your counter to your liquidity provider and back. Every conversion happens with your provider.

  1. Customers buying currency

    Customers pay you in CAD

    They pay by Interac e-Transfer from their own bank. Business clients can send larger amounts by EFT to your wallet's deposit details.

    Interac e-Transfer receivedDeposited
    $1,600.00Counter, 9:05 am
  2. Your wallet

    Counter and online, one balance

    Counter and online payments collect in one wallet. Turn on Secure e-Transfer to check a sender before you accept the payment.

    Wallet balanceCAD
    $46,980.00
    From 31 customer payments today
  3. EFT or same-day wire

    Settle with your provider

    Send the total to your liquidity provider in Canada. An EFT typically arrives in 1 business day, and a wire arrives the same day.

    Wire sentSent
    $46,500.00Same day, to your liquidity provider
  4. Your liquidity provider

    The conversion happens there

    Your liquidity provider converts the funds and settles the other currency with you. Invincible Pay never converts currency.

    Outside Invincible PayEvery conversion is handled by your liquidity provider.
  5. Customers selling currency

    Pay sellers in CAD

    When a customer sells you foreign currency, pay them by Interac e-Transfer. Send up to $25,000 per transfer, so $38,000 goes out as two, sent together.

    e-Transfer sentSent
    $38,000.00To one customer
    1 of 2$25,000.00
    2 of 2$13,000.00

Remittance companies collect the same way, many small customer e-Transfers into one wallet. For every other money service, see payments for MSBs.

What we'll ask a currency exchange

Onboarding a currency exchange starts with two questions: how your customers pay you, and who converts for you.

See our pricing

We'll go through the list with you first.
  • Your FINTRAC number and the services it covers, foreign exchange dealing among them.
  • Your liquidity provider: who converts for you, and how you settle with them today.
  • How customers pay you: at the counter, online or both, and the numbers on a usual day.
  • Your AML compliance program: the current policy, and how you identify a customer before an exchange.
  • The people behind the exchange: directors, officers and owners of 25% or more each verify their identity online.

From application to first payment

1About 20 minutes

Apply online

Tell us what your business does and how money moves through it.

2Usually within 3 business days

Get approved

Our compliance team reviews your file and tells you if anything is missing.

3Within 5 business days

Start processing

Your wallet and deposit details are live, and your first payments can move.

Currency exchange questions about CAD and conversion

Your liquidity provider, every time. We never convert currency. Your wallet holds and moves Canadian dollars only, and we work only with Canadian businesses.
At the counter, send the customer an Interac e-Transfer request and they accept it in their banking app. Online, e-Transfer checkout ties each payment to its order number. Each customer pays within their own bank's daily limit, usually $3,000 to $5,000.
By wire, the same day, if your provider is in Canada: our wires are domestic and in Canadian dollars. By EFT, typically in 1 business day. You choose the rail for each settlement.
Yes, in Canadian dollars by Interac e-Transfer, up to $25,000 per transfer with no daily limit. Larger amounts go out as several transfers, and Bulk e-Transfer pays many sellers at once.
Yes. Foreign exchange dealing is a money service, so we ask for your FINTRAC registration. Still registering? Talk to us anyway, and we'll tell you what we'll need from you.

Set up your CAD rails

Tell us how your customers pay and who converts for you. We reply within 24 hours on business days.

Talk to our team
Talk to our team