Peanut Is Coming to Canada
Send money to anyone via Interac e-Transfer — Canada's near-universal payment system. No SIN needed. Get notified.
Canada's payment landscape is dominated by Interac. Over 1 billion e-Transfer transactions per year flow between Canadians — paying rent, splitting bills, sending money to family, and settling invoices. The Interac debit network is the backbone of in-store payments, and virtually every Canadian bank and credit union is connected. Interac e-Transfer works via email or phone number — no bank account details needed. But it requires a Canadian bank account, and getting one as a newcomer takes time. The US-Canada and UK-Canada corridors are among the busiest cross-border routes in the world.
Peanut will open a new path. When we launch in Canada, you will be able to send money via Interac e-Transfer to anyone in Canada — instantly, at the market rate. No SIN (Social Insurance Number) needed, no Canadian bank account required on the sender's side. For the US-Canada corridor and for newcomers arriving from anywhere in the world, Peanut will provide immediate access to Canada's payment infrastructure.
How It Will Work
- 1
Deposit from anywhere
Send digital dollars from any exchange or wallet via Solana, Arbitrum, Base, Tron, or Ethereum. Gas fees covered. Or deposit from your bank via SEPA (Europe), ACH (US), or wire transfer. All deposits are free.
- 2
Your balance stays in dollars
Your balance will be held in digital dollars until you send. Convert to Canadian dollars only when you are ready.
- 3
Send via Interac e-Transfer
Enter the recipient's email address or phone number. Your dollars will convert to CAD at the market rate. No fees from Peanut.
- 4
Instant arrival
The recipient will receive Canadian dollars in their bank account. With Autodeposit enabled (increasingly the default), funds arrive instantly — no need for the recipient to manually accept the transfer.
What Payment Methods Are Coming
Interac e-Transfer
Interac e-Transfer is Canada's dominant person-to-person payment system, operated by Interac Corp — a consortium owned by Canadian financial institutions. It processes over 1 billion transactions annually and is accepted by virtually every Canadian bank and credit union: RBC, TD, BMO, Scotiabank, CIBC, Desjardins, and over 300 other participating institutions.
The system works via email or phone number — no need to share bank account details. Autodeposit allows funds to arrive without the recipient needing to manually accept, making the experience nearly instant. Beyond P2P, some businesses accept Interac e-Transfer for invoices and payments.
Interac also operates Canada's national debit card network — effectively every Canadian with a bank account has Interac access.
How it will work with Peanut: Open the Peanut app, enter the recipient's email address or phone number. Review the amount in CAD and the exchange rate. Confirm — the recipient receives a notification and the funds deposit into their bank account (instantly if Autodeposit is enabled).
No SIN needed. The Social Insurance Number is required for employment, tax filing, and many financial services in Canada. Foreigners need a work or study permit to obtain one. Peanut will accept passport verification from any country — no SIN, no Canadian bank account required to send money.
Full guide: Pay with Interac e-Transfer in Canada
Exchange Rate: What to Expect
The Canadian dollar is a stable, freely traded currency. CAD/USD fluctuations are influenced by oil prices and Bank of Canada monetary policy, but the pair is highly liquid with tight spreads. Despite this, sending money to or from Canada through traditional banks costs 1-3% in combined fees and exchange rate markups. The US-Canada corridor is one of the busiest in the world, yet cross-border fees remain stubbornly high.
Peanut will convert digital dollars to Canadian dollars at the market rate. For the massive US-Canada corridor, this means avoiding the 1-3% markup that banks and traditional services add.
Rate lock: The rate will lock at the moment of payment. What you see is what you pay.
No fees. Peanut will charge nothing on deposits, Interac e-Transfers, or withdrawals. Gas fees are covered.
Compare rates:
Who Will Use Peanut in Canada
Cross-Border Travel and Business (US-Canada)
The US-Canada corridor is one of the busiest in the world — hundreds of thousands of people cross the border for work, tourism, and business constantly. Moving money between the two countries through banks is surprisingly expensive for two neighboring economies: 1-3% in fees and markups. Wire transfers cost $25-80 and take days.
Peanut will let you send from the US to any Canadian bank account via Interac e-Transfer. Deposit via ACH (free, 1-3 business days) or supported networks (free, minutes), and send to anyone in Canada at the market rate — instantly. No more waiting 3 days for a bank transfer to cross a border that is just a bridge away.
Cross-Border Travel (UK-Canada)
The UK-Canada corridor is also significant, driven by tourism, the working holiday program, and business ties. SEPA deposits from Europe are free and typically arrive in under 20 minutes. Once your balance is in digital dollars, send to Canada via Interac e-Transfer at the market rate.
Newcomers and International Students
Hundreds of thousands of newcomers arrive in Canada each year — immigrants, international students, and workers. Opening a Canadian bank account is one of the first tasks, but it takes time. In the meantime, you need to pay deposits, buy essentials, and transfer money from your home country. Peanut will let you send money to your own Canadian account (once open) or to anyone else — immediately, without a SIN.
Info
Get Notified
Peanut is not yet live for spending in Canada, but you can sign up now to be notified when Interac e-Transfer integration launches. When live, you will send money to anyone in Canada — instantly, at the market rate, via email or phone number.
Today, you can already use Peanut to deposit and withdraw digital dollars in Canada via supported networks like Solana and Arbitrum. Interac integration is coming next.
Verification: You will verify with a passport or national ID card from any country. No SIN required. Under 2 minutes. Powered by Persona (SOC 2 Type 2, GDPR, ISO 27001). Peanut never sees or stores your documents.
FAQ
When will Peanut launch in Canada?+
Peanut is working on integrating Interac e-Transfer for payments in Canada. We do not have an exact launch date. Sign up to get notified. You can already deposit and withdraw digital dollars via supported networks.
What payment methods will Peanut support in Canada?+
Peanut will integrate with Interac e-Transfer, Canada's near-universal P2P payment system processing over 1 billion transactions per year. Transfers work via email or phone number and are accepted by virtually every Canadian bank and credit union — over 300 institutions.
How do I get early access to Peanut in Canada?+
Sign up at peanut.me to be notified. Create your account now and use network deposits. Your account will unlock Interac e-Transfer when Canada goes live.
Do I need a SIN to use Peanut in Canada?+
No. Peanut will accept passport verification from any country. You will not need a Social Insurance Number (SIN), a Canadian bank account, or a work/study permit to send money to Canada via Peanut.
How does Interac Autodeposit work with Peanut?+
When you send via Interac e-Transfer, the recipient receives a notification. If they have Autodeposit enabled (increasingly the default at Canadian banks), the funds go directly into their bank account without any action needed. If Autodeposit is not enabled, they will need to manually accept the transfer by following a link in the email notification.
Is Peanut cheaper than sending money from the US to Canada via bank wire?+
Yes. Bank wires from the US to Canada typically cost $25-80 in fees plus 1-3% in exchange rate markup, and take 1-5 business days. Peanut will charge no fees, convert at the market rate, and deliver via Interac e-Transfer — instantly.
