The payment method you offer on your invoice affects how quickly you get paid and how much of each invoice you keep. Here is a clear comparison of every method used by Canadian freelancers in 2026, with recommendations by client type.
Interac e-Transfer — The Default for Canadian Clients
Best for: Individual Canadian clients and small Canadian businesses
Cost to you: Free to receive at most banks
Cost to client: Free at most banks (included in account plan)
Speed: Instant with Autodeposit enabled
Limit: Typically $3,000 per transfer (personal accounts); $10,000–$25,000 (business accounts)
Set up Autodeposit on your business bank account. Clients send to your registered email address with the invoice number in the message. Payment arrives instantly without you needing to accept it manually. Best practice: include clear e-Transfer instructions on every invoice: “Send to [email protected] — Autodeposit enabled — include invoice number.”
EFT / Direct Deposit — For Corporate Clients
Best for: Corporate clients, government agencies, large companies
Cost to you: Free to receive
Cost to client: Usually included in corporate banking
Speed: 1–3 business days
Required info: Your institution number, transit number, and account number
EFT (Electronic Funds Transfer) is how corporations pay their suppliers in Canada. Include your bank account details on invoices to corporate clients: institution number (3 digits), transit number (5 digits), and account number. Found on a cheque or in your online banking under account details.
Stripe (Credit Card) — For Clients Paying by Card
Best for: Clients who prefer credit card, subscriptions, US individual clients
Cost to you: 2.9% + $0.30 CAD (Canadian cards); 4.4% + $0.30 (international)
Cost to client: $0
Speed: 2–7 days payout to your bank (or faster for established accounts)
Add a “Pay now” button to your FreshBooks or Wave invoices via Stripe integration. Clients pay by card directly from their invoice email. For US clients: route Stripe payouts to your Wise USD account to avoid Stripe’s 1% FX conversion fee.
Wise Business (ACH) — For US Clients
Best for: US clients, international clients in supported countries
Cost to you: $55 one-time setup; ACH receiving free; conversion ~0.63%
Cost to client: $0 (domestic ACH in the US)
Speed: 1–2 business days
Provide your Wise US routing number and account number on invoices to US clients. They send via ACH (same as paying any US vendor). You receive USD in Wise, hold or convert at mid-market rates. Most cost-effective international receiving method available in Canada.
Wire Transfer (SWIFT) — For Large Transactions
Best for: Large invoices ($5,000+) where card fees would be excessive; international corporate clients
Cost to you: $0–$20 incoming depending on your bank
Cost to client: $15–$50 outgoing wire fee
Speed: 1–3 business days internationally
Wire transfer is appropriate when invoice size makes Stripe or PayPal fees prohibitive. Provide your bank’s SWIFT code, institution number, account number, and your full name/address. Note that incoming wire fees vary — check your bank account terms.
Recommended Payment Stack by Client Type
| Client Type | Primary Method | Alternative |
|---|---|---|
| Canadian individual | Interac e-Transfer | Stripe (card) |
| Canadian corporation | EFT / bank transfer | Interac e-Transfer |
| US client (small) | Wise ACH | Stripe / PayPal |
| US client (large invoice) | Wise ACH | Wire transfer |
| International (non-US) | Wise local transfer | PayPal / Wire |
Frequently Asked Questions
Should I accept multiple payment methods or standardize on one?
List 2–3 options on your invoices, in order of preference (cheapest to you first). Primary: Interac e-Transfer for Canadians, Wise ACH for US. Secondary: Stripe for clients who prefer card. Listing options reduces friction without forcing every client into a single method they may not use. More options = fewer “how do I pay?” emails.
Can I charge extra for credit card payments?
Technically yes — Canadian law does not prohibit surcharges on credit card payments. Visa and Mastercard’s rules regulate surcharging practices (maximum surcharge = your processing cost, and must be disclosed before purchase). In practice, most Canadian freelancers either absorb the fee, build it into rates, or offer a discount for e-Transfer. Explicitly charging a surcharge can feel friction-heavy in ongoing client relationships.
What payment method takes the longest to receive?
Paper cheques are the slowest — mailing time, hold periods at your bank (5–7 business days for some cheques), and manual deposit. Cheques are rare in modern Canadian B2B payments. If a client insists on cheques, request certified cheques to reduce hold periods, and consider transitioning them to EFT or e-Transfer once the relationship is established.