Are you trying to find the easiest way to send money from Canada to your family, friends, or businesses in India (or to your own bank account overseas).
Send Money From Canada To India
Instead of going directly to your Canadian bank, check out specialized money transfer services first. They usually give better exchange rates and charge lower fees, so if you send the same amount of Canadian dollars, your recipient will get more Indian rupees.
Out of all the companies we looked at, RemitBee is one of the cheapest. They have good exchange rates and their fees start at $0. Do you need to send money quickly. Wise can send money to someone in India within just a few minutes.
Best ways to send money to India from Canada
The way you should send money to India depends on how you want to pay, how you want the money to be received, and how quickly you need it to get there.
1- Company that helps send money over the internet. When you exchange money to buy CAD dollars or Indian rupees, transfer specialists usually have better rates and lower fees compared to a bank.
2- Transferring money from one bank account to another. Sending money to India using bank transfers is simple, but it can cost more and take longer compared to other ways of sending money.
3- Pick up money in person. If you want your money to get to your friend quickly, they can pick up the cash right away from their agent in India.
4- Phone Mobile wallets are like digital wallets on your phone. You can keep, send and get money using them, but sometimes you have to pay a fee.
5- Delivery to your home. If the person receiving the money has trouble getting to a cash pickup place, you can choose to have the money delivered right to their door instead.
The cheapest way to send money to India
- Talk to someone who knows how to send money. Don’t use the bank, choose money transfer experts who can give you better rates and fees.
- Pay with money from your bank account. After you pick a company, use a bank transfer to pay for your money transfer. Other ways to pay, like using a credit or debit card, have additional charges.
- Send the money to your friend’s bank account. Other ways to get your delivery, like using a mobile wallet or picking up cash, may cost more.
- The money can take from one to six business days to move from one place to another.
Some of the cheapest money transfers to India:
- RemitBee
- WorldRemit
- Xe
The fastest way to send money to India
1- Use a specialist for transferring money. Don’t use your bank for money transfers. Instead, choose specialist companies that can give you better exchange rates and lower fees.
2- Use a credit or debit card to make your payment. Once you pick a company, use your credit card or debit card to pay for the money transfer. The cost of sending money changes based on how much money is being sent.
3- Use cash pick up or put money directly in the bank. Getting cash from a pick-up is usually quicker than depositing it in a bank.
The process can be done quickly with cash pickup. It can take a few days for bank deposits, but in India they can be much faster, sometimes within a few minutes for major banks.
Some of the fastest average transfer speeds to India:
- RemitBee — within minutes
- Remitly — within minutes
- WorldRemit — within minutes
What’s the cheapest way to send money from Canada to India?
On October 27, 2023, we checked different ways to send money and found out how much it would cost to send $200 to India. Remember, this is just a sample of the rates for sending money to India. It can give you an idea of the best rates available.
The amount of money your recipient will receive depends on different things, like the exchange rate, how much money you send, how you pay how the money is delivered, and any discounts you use.In this example, we wanted to pay the lowest fees by using a bank transfer to the recipient’s bank account if possible.
What’s the best money transfer app in India?
The top money transfer apps for sending money to India are ones that are easy to use, have low fees, and send money quickly. The companies listed below have really good apps for both Android and iPhone. According to recent reviews for 2023, Remitly and WorldRemit are the top choices because people like that they are easy to use, have low fees, and are fast.
What’s the cost of transferring money from Canada to India?
When you’re trying to find the cheapest or best ways to send money to India, make sure to consider the total cost of your transfer. This has a few parts:
Transfer Fees: Some money transfer services charge a fee to send money, but it’s still cheaper than using a Canadian bank. The fee can be a set amount or a percentage of the money you’re sending.
Exchange rate: Money transfer providers also make money by adding a fee to the exchange rate when transferring money from Canadian dollars to Indian rupees.Some providers might charge the average rate for the service, but then they may also add extra charges. Some places may charge very little for fees, but they increase the exchange rate. This means it is important to check how many Indian rupees your recipient will receive.
The safest way to send money from Canada to India
The best way to send your money to India is to use a company that is approved by Canada’s financial regulator, the Financial Consumer Agency of Canada. All the companies we looked at in our table are monitored by a local authority and follow the laws in Canada and India.You can learn more by reading our detailed reviews of each transfer service and checking what customers have said on Trustpilot and other sites.
