Send Money from Canada to India

If you are a Canadian customer, there are several options available for sending money to India.

However, selecting a money transfer service is usually not an easy task.

There are several considerations involved in this process to ensure that you are balancing both efficiency and cost-effectiveness.

In recent times, we have seen the launch of several online transfer platforms such as Wise, Remitly, and XE that each offer their own unique set of benefits.

Depending on what you value (cheapest cost, fastest speed, etc.), each of these providers may be a worthwhile option for you.

What Currency Does India Use?

India uses the Indian Rupee as its official currency.

This currency is managed by the Reserve Bank of India (RBI).

RBI acts as the nation’s central bank with responsibilities for controlling monetary supply, setting banking regulations, and promoting economic development.

Current CAD/INR Exchange rate:

1 CAD = 60.7761 INR at 7:30 AM UTC on Thursday May 30, 2024

Steps to Send Money to India

1. Select a Money Transfer Service

When looking to send money to India, you have the option of using various online platforms such as Wise (previously known as Transferwise), Remitly, WorldRemit, Skrill or XE.

Alternatively, you can also use your banking provider (such as RBC, CIBC, BMO, Scotiabank, TD) to complete a wire transfer directly to your recipient’s bank account.

You can use the below widget to see what it would cost to send a money transfer using Wise along with how long it will take for funds to reach the recipient.

2. Create an Account

Provide your personal identification details, bank account details, and other relevant information that the provider requests.

3. Enter Recipient’s Details

In most cases, you will be asked basic personal information about the recipient as well as their online banking details to ensure that the money is sent to the right account.

4. Choose Funding Method and Send

You can often choose between paying via direct debit, bank transfer, debit card, and credit card with each having different fees and processing times.

At this stage, you will be able to view the exact fee structure including any administrative fees and currency conversion fees.

Key Considerations When Sending Money from Canada to India

Below is a list of items you should keep in mind before transferring money from one country to another:

CAD/INR Exchange Rate

If you are converting between Canadian and the Indian Rupee, you should monitor the exchange rate that the provider offers and compare it to the market rate to see the differential.

While some providers may offer lower administrative fees, they may take a higher cut of the foreign exchange (FX) conversion.

It is important to know this beforehand to make the best decision for yourself.


Most online transfer platforms will charge a fee for their service.

This fee may vary based on the provider, the amount of money being sent, currency, etc.

As such, it is crucial to assess the net amount that the recipient will receive in hand to understand the total fees charged by the provider.


The total turnaround time that it takes for your recipient to receive the money from the time you send it.


While this may not be a primary consideration in the way that costs and processing time would be, it is still important to know what type of customer support you can expect if there is a processing error or other barrier preventing your money from being transferred correctly.

Sending money from Canada to another country

Frequently Asked Questions

  • What is the best way to send money from Canada to India?
  • Online transfer services such as Wise, Remitly or Remitbee are generally the best way to send money from Canada to India as they offer speed, cost-effectiveness and convenience. You can also use your banking provider to complete a wire transfer although that does tend to be more expensive than an online transfer.

  • Can I transfer money from a Canadian bank to an Indian bank?
  • Yes, you can transfer money from a Canadian bank to an Indian bank via a wire transfer. A wire transfer sends your money electronically via the SWIFT system. SWIFT is a messaging network that connects 11,000+ global member institutions (i.e., banks and other financial service providers) where parties can accurately transmit and receive information on financial transactions.

  • How long does it take to send money from Canada to India?
  • Depending on which provider you use and your method type (credit/debit card, bank transfer, etc.), you can typically expect a processing time that ranges between 1 to 5 business days.

  • Can I send money from Canada to India for free?
  • The short answer is no. Even if someone advertises ‘zero fees’ in their marketing materials, you usually will have to pay an exchange rate that is unfavourable compared to other providers.

Harshil Dhanky

Harshil Dhanky is a financial services professional based out of Toronto, Ontario with extensive experience in the Canadian banking industry across Toronto, Calgary, and Vancouver in the capital markets, asset management, and lending sectors.

In the past, Harshil has worked with a range of consumer lending websites, personal finance advisors, investment managers, insurance companies, and other financial institutions to write and edit whitepapers, articles, blog posts, and other collateral read by consumer audiences to help them make better financial decisions.

His work spans a wide range of Canadian personal finance topics including savings and retirement programs, debt management tips, mortgages and personal loans, and other key financial issues for Canadian consumers at each stage of their life.