Sending money from different continents is not as difficult as it seems, thanks to technology.
No matter the country or continent, the internet has made business and connectivity limitless and could go on seamlessly regardless of the distance involved.
Being a very large country in Southern Asia, India is rich in commerce and home to many international businesses.
India is also thriving reasonably in tourism, hence, international money transactions out of India are necessary.
In this article, we will reveal everything you need to know about sending money from India to Canada.
There are various ways that you can send money from India to Canada but for the purpose of this article, we will be looking at some of the easiest ways to achieve this.
How to Send Money From India to Canada?
SBI Canada Bank
One of the ways you can send money free of charge is through the SBI Canada Bank.
The SBI Canada Bank offers various benefits, from competitive exchange rates to getting maximum value for your money.
You also get to enjoy fast, reliable and secure service.
Cash in from the big network of the parent bank and depository financial institution of India, which is the most important financial group in India.
Experience the facility of 20,325 SBI Group Branches in India and 186 International offices spread across 34 countries. With this expansive network, your money can reach almost everywhere within the world faster and at a really low cost.
You can transfer money not only to the depository financial institution of India but to any bank in India of your choice.
Transfer Money to your loved ones from India by using our net banking or Mobile banking application Yono SBI Canada Bank.
You can prefer to transfer money from India through our Internet banking (available in CAD/USD).
Take advantage of Yono SBI Canada – our mobile banking application to transfer money from India. (Available in CAD / USD)
You can visit any SBI Canada Bank branch and enjoy the personalized service offered by their dedicated staff.
The transfer of funds is often sent in Indian rupees or in other currencies like USD/CAD/GBP/EUR.
MoneyGram
These are a couple of ways to send money to India from Canada through Moneygram
- Online: You can send money through their website or Mobile App. MoneyGram is among the easiest apps to send money from Canada to India.
- Account Deposit: MoneyGram is integrated, with over two billion in bank accounts, virtual accounts and mobile wallets around the world. You will have to initiate a transfer from Canada to possess the amount remitted to your beneficiary account in India.
- MoneyGram Locations: Users can send money from Canada and receive money at any of their 350,000 agent locations in over 200 countries including India.
Remitly
There are majorly two ways to do this
- Express: For a premium fee, the cash you send will reach your recipient within 4 hours.
- Economy: For a flat fee, you will enjoy a high rate of exchange but it will take up to 3-5 business days for your recipient to receive the cash you sent.
You can transfer money from India to over 130 banks across Canada. Transfer your money easily to major commercial bank accounts.
You will also get the $1.99 flat fee waived if you are sending $500 and above or your first time sending money through Remitly.
Wise (formerly referred to as TransferWise)
This company offers an inexpensive, fast and secure way to send funds internationally. They are great for online users who want to send money to Canada from India.
Best Features
- Quick online set-up
- Easy to urge a quote
- Transparent fees and offer the simplest rates online
- Simple Mobile App
What Are The Prices to Transfer Funds to Canada?
- Transfer Fee: 0.53% up to US$135,000 or 0.43% above US$135,000, plus a flat fee of US$1.12.
- Exchange Rate: Wise offers you the simplest possible rate (google rate). They do not use a margin.
- Additional Fees: Bank debit (ACH) is the cheapest, then bank wire transfer followed by open-end credit and Mastercard.
How to Transfer Money With Wise?
- Create a web account and login.
- Tap in what proportion you want to send and where to – Enter your recipients’ details.
- Make local US payments to Wise, employing a bank transfer, SWIFT, or your Debit or Mastercard.
Hope this article was helpful? Let us know what you think in the comment section.
If you know of any other services that allow the transfer of money from India to Canada, do let us know in the comment section and we will be glad to add them to our update.
