How to Transfer Money From Canada to India [Canada Banks]

In this article, weโ€™re sharing how to transfer money from Canada to India.

This will include a discussion about the most popular options available and a few alternatives you may not have considered.

Of course, you can also use our other free resources on opening a bank account in Canada for non-residents by clicking here.

Feel free to use the table of contents to jump ahead to the sections most relevant to you.

Table of Contents

  1. How to Transfer Money From Canada to India
  2. What Is the Best Way to Send Money to India?
  3. Factors to Consider Before You Send Money to India
  4. Frequently Asked Questions
  5. Ready to Explore Your Options?

How to Transfer Money From Canada to India

Several options exist to efficiently transfer money from Canada to India. This includes popular international transfer services, money orders, bank transfers, and money service businesses. That said, each of these options has different costs, time frames, and use cases.

What Is the Best Way to Send Money to India?

The best way to send money to India will depend on the specific variable that you are optimizing for. For example, if you are trying to optimize for speed, you might want to use a money order.

Alternatively, if you are concerned with cost, you might choose an international transfer service. Or, if you are worried about security, you might choose to send an international bank transfer.

That said, in order to decide which of the options is best for you, there are a few additional factors you will want to consider. Weโ€™ll cover these factors in the next section of the article.

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Factors to Consider Before You Send Money to India

There are a number of factors that consumers should consider whenever sending international transfers. These include:

  • International transfer fees
  • Foreign currency exchange fees
  • How long the transfer takes to complete
  • Costs associated with searching for lost transfers
  • Security of the platform being used
  • The amount that you can transfer
  • Access to the service you want to use

Letโ€™s take a closer look at two of these factorsโ€ฆ

International Money Transfer Fees

Regardless of the solution you choose, there are going to be international money transfer fees associated with sending money from Canada to India. However, certain solutions are significantly more expensive than others.

With this in mind, if your focus is on finding the most cost-effective solution possible, you should consider using an international transfer service. One example of such services is Wise (formerly Transferwise), as it allows for some of the lowest cost transfers through a reliable platform.

Alternatively, sending funds through an e-Transfer can also be affordable if you have an account with a Canadian financial institution that supports international e-Transfers. That said, this is unlikely because only a small number of Canadian account holders have such accounts.

How Much Money Can You Transfer From Canada to India?

The amount of money you can transfer from Canada to India will also depend on the platform that you are using. For example, there is effectively no limit on the amount that you can transfer through an international bank transfer. However, there are limits on digital solutions like international transfer services and certain money order solutions as well.

With this in mind, if you are sending large amounts of money between Canada and India, you may want to consider a bank transfer as this provides you with extra security and recourse if anything happens to your transfer.

Frequently Asked Questions

Below are two of the most common questions that we receive from people looking to into how to transfer money from Canada to India. If you have further questions you would like answered, donโ€™t hesitate to get in touch with us directly.

Can We Send Money From a Canada Bank to an Indian Bank?

Yes, you can send money from a Canadian bank to an Indian bank through an international bank transfer. In fact, sending a transfer between banks is one of the safest and most effective ways of transferring large sums of money.

Can You Interac e-Transfer From Canada to India?

Yes, you can send an Interac e-transfer from Canada to India. However, this is only available from very a select banking option. Alternatively, if you have a Canadian bank account, you can visit a branch and send an international bank transfer to an Indian bank account through SWIFT.

Ready to Explore Your Options?

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You can access GlobalBanks IQ, our international banking intelligence platform, in just a few clicks. Unlock our bank database, individual bank profiles, account opening strategies and reports, banker scripts, and more.

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Of course, if you have any questions, please contact us directly.

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GlobalBanks Team
GlobalBanks Team

The GlobalBanks editorial team comprises a group of subject-matter experts from across the banking world, including former bankers, analysts, investors, and entrepreneurs. All have in-depth knowledge and experience in various aspects of international banking. In particular, they have expertise in banking for foreigners, non-residents, and both foreign and offshore companies.

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