USD INR ₹ 83.50
GBP INR ₹ 105.93
CAD INR ₹ 61.03

How To Send Money From Canada To India

Updated on July 13, 2022 03:48 pm
Canadian and Indian flags

India is the world's largest recipient of remittances in the world, followed by China, Mexico, the Philippines, and Egypt. International remittances are financial or in-kind transfers made by migrants directly to families or communities back home.

According to World Bank, India received over USD 83 billion in remittances in 2020 and USD 87 billion in 2021, with the United States being the largest source, accounting for over 20% of these funds.

India has consistently ranked as the top recipient of remittances due to the sizeable Indian diaspora (32 million NRIs and PIOs living outside of India).

Given that Canada has one of the largest Indian communities, Canada to India remittance corridor is also one of the most well-known money transfer corridors. In 2018, 16.89 lakh (1.689 million) Indians were residing in Canada, of which 15.10 lakh were Persons of Indian Origin (PIOs) and 1.78 lakh were Non-Resident Indians (NRIs), according to the latest report by the Ministry of External Affairs.

There are many ways to send money from Canada to India. Although banks are an easy option, keep in mind that they do not offer transparent exchange rates and are often lower than those offered by international money transfer specialists.

To get the best CAD to INR exchange rates, you can search on the CompareRemit comparison tool. You also have access to deals and discounts from their transfer partners that will help you get more INR for your Canadian Dollar. Take advantage of these deals and make the most of your hard-earned money.

In this blog, you will learn how to send money to India from Canada and the top money transfer services of the Canada-India remittance corridor. Before we get to the list, let us look at the things to consider when sending money overseas. 

Things To Consider Before Transferring Money From Canada To India

Exchange Rates

You frequently need to convert one currency into another when sending money internationally. The value of one currency relative to another is known as the exchange rate, which varies daily depending on the state of the market.

Money transfer platforms and banks often add a margin to the mid-market rate or the real exchange rate when providing money transfer services. This is why the exchange rates offered by various money transfer companies vary and are often competitive to attract customers. 

As a result, comparing the exchange rates on online comparison tools like CompareRemit is highly recommended to get the best deal on your transfers. 

Before moving forward with your transfers, use a search engine to find the actual exchange rate to assess how fair an exchange rate you are offered is.

Some transfer companies allow you to lock in a preferred rate for a set amount of time so that the rate fluctuations don't affect your transfers. You can set up alerts for rates when it reaches your preferred value.

Since it impacts how much money your recipient will get, the exchange rate is a cost that must be taken into account. Sometimes there is a lack of transparency in transfer fees, as evidenced by the possibility of hidden fees in the form of a marked-up exchange rate.

Banks are a convenient option, but they are often expensive and offer poor exchange rates.

Will CAD To INR Increase Or Decrease?

As of today, CAD to INR exchange rate is 61.14. According to, the CAD to INR is likely to increase in the long term, reaching 75.051 in 5 years. 

Transfer Costs

International money transfer costs vary depending on the mode of payment, transfer speed, transfer amount, the money transfer provider, the delivery method, and the destination country. It can range from $0-$30 or more. 

Banks tend to charge more and may have correspondent bank fees, or other hidden charges you are unaware of that can add up to your expenses.

The transfer fees can be a percentage of the amount being sent or a flat fee per transaction. Some may charge no fees but profit from the difference between their offer rates and the mid-market rates.

Prepare to pay more if you want faster delivery. Payment with a credit card comes with higher fees than payment with a bank account or debit card. Cash transfers are often the quickest option but have higher fees.      

Go for transfer providers with upfront fees and competitive exchange rates. You can check the price estimator available on the money transfer companies' websites to get an idea about the cost.

Transfer Speed

International transfers usually take 1 or 2 business days. Still, they can take as long as 5 business days depending on various factors such as payment method, the timing of transfer request, security checks, destination country, delivery method, and delivery speed.

As mentioned above, faster transfers come with higher costs. Instant cash pickups are more expensive than transfers to a bank account, where the money may take several days to be deposited.

Transfers funded by credit cards are quicker than bank account-funded transfers. If you are not in a rush, look for a cheaper option when comparing the offers from various money transfer providers.


Protection of the funds and prevention of fraud is top priorities during money transfers. Banks and money transfer companies are required to abide by laws and regulations set forth by national and international governing organizations, such as Know Your Customer (KYC), Anti-Money Laundering (AML), and Counter-Terrorist Financing (CTF) (ATF). 

To ensure the safe and secure transit of payments, every authorized money transfer company has put in place several security measures, including SSL encryption and two-factor authentication. While cheques and demand drafts are safe and time-tested options, however, there are chances of them getting lost or misplaced. 

Wire transfers are electronic transfers that make use of networks like SWIFT to exchange messages and enable the transfer of funds across international borders. They are secure and practical as long as you check the transfer information and avoid sending money to strangers.

Do check the online customer reviews to get an idea of the quality of the services from the customer feedback.

Top Money Transfer Services For Sending Money From Canada To India

Here is our list of the top money transfer companies for the CAD to INR corridor.


You can send money to your recipient's bank account with Wise by signing up online or on their app for free using your email address or a Google or Facebook account. 

Wise is an authorized London-based online and mobile payment service provider regulated by the Financial Conduct Authority (FCA) in the United Kingdom. It has 13 million users and counting worldwide. 

To send money in CAD to India, Wise charges a small, flat fee of 1.78 CAD+ 0.62% of your transfer amount that's converted, which is shown upfront, and the money is exchanged using the real rate (the ones you see on Google or Reuters). Wise claims to be 8X times cheaper than banks. 

You can fund your transfer by 4 payment methods:

  • Direct Debit 
  • Debit Card 
  • Credit Card
  • Bank Transfer 

Wise can send money within one day or almost instant. But the payment method or certain security checks can affect the transfer speed. Bank account-funded transfers are cheaper but slower, while transfers funded by debit cards or credit cards are costly but faster.    

You can check the transfer limits for your currency pair on their calculator

Western Union

Western Union is the largest and the oldest money transfer company in the world, with more than 145 years in service. Its headquarter is located in Denver, Colorado.

There are two ways to send money to India from Canada with Western Union.

  • Directly transfer to bank accounts in India by registering online or through their app.
  • In-person transfer at agent locations for Cash pick up in India

Western Union has more than 111,0001 agent locations in India, which offers flexibility for your friends and family to opt for Cash pick-up. 

You can pay using your bank account, Visa debit card, or your credit card. 

Use their price estimator tool to get an idea of how much it costs to send money to India. This will show you the transfer fees, exchange rates between the Canadian dollar and the Indian rupee, and the transfer limits that might apply to your money transfer.  


Remitly is another popular online-based money transfer platform located in Seattle, especially founded to provide affordable and convenient money transfer services to immigrants. 

Remitly has multiple receive options for recipients in India. You can transfer money directly to over 130 bank accounts, including SBI, HDFC, Citi Bank, Axis Bank, or more than 20 banks using UPI (virtual payments) either by signing up online or through the Remitly app. 

Your recipient can also pick up their money at 100,000+ cash pick-up locations, including Punjab National Bank, EbixCash, Weizman Forex, Muthoot Fincorp, and more. 

You can fund your transfer using a bank account, debit card, and credit card.

Remitly offers two modes of transfer based on speed:

  • Express mode: Receive money within minutes 
  • Economy mode: Receive money within 3-5 business days

There are no transfer fees for sending CAD 500 or more, and the promotional FX rate applies to the first $999 of the transfer. 

Panda Remit

Panda is an FCA-regulated online-based money transfer platform located in Hong Kong that provides fast and convenient remittance services. 

You pay no fees on your first transfer with Panda Remit and can receive the money within minutes or at the least within 1-3 working days. The transfer speed will vary depending on the payment method and the delivery method. 

You can initiate your transfer by signing up online or on their app using your phone number or email address. Panda Remit allows you to pay with a debit card, ACH bank transfer, and ATM transfers. The money can be received either in a bank account or a debit card. 

Check live rates from Panda Remit by using their online calculator. Enter CAD to INR currency pair, enter the transfer amount, and the calculator will show you how much money your recipient will get. You will also get to see the applied exchange rate and the transfer fees charged for your transfer. There are no hidden fees with Panda Remit.

Make use of Referral bonuses and discounts to save money on transfer costs. 


Instarem is one of the most cost-effective remittance services, especially for small transfers. The delivery is usually instant or same-day transfer. 

You get the real exchange rate and no hidden charges. To initiate the transfer, sign up for a free account online or on the Instarem app with your email or Google, or Facebook ID. 

Instarem support multiple payment methods, including debit/credit card, bank transfers, and wire transfers. And multiple pay-out options via card, bank account, and cash. Your recipient doesn't need to have an Instarem account to receive money. 

Check the live rates and fees on their currency converter before you send the money. Simply enter the send amount and select the send and receive countries (in this case, Canada and India, respectively). You will see the exchange rates and fees for your transfer upfront. 

Also, earn Instapoints with your transactions to save money in your subsequent transfers. 

XE Money Transfer

Sending money from Canada to India is quick and easy with XE money transfer. Simply sign up for a free XE account or on the XE app to initiate the transfer to your recipient's bank account in India. 

XE is a Canada-based online international remittance service provider. It offers free tools to check live currency rates, view historical charges for currency pairs, and set alerts for desirable rates.

You can pay for your transfers using direct debit, bank transfers, and card payments. It can take 1-4 working days for your money to arrive in India, though it typically arrives more quickly. 

Depending on the amount you send to India, XE charges a small fee that you will see before you confirm your transfer. You can send up to $500,000 (or the currency equivalent) to India from Canada online.  

ICICI Bank Money2India 

Money2India is a subsidiary of one of India's largest banks, ICICI Bank. You can transfer funds from Canada to India from your ICICI Bank NRI account, or your account opened in Money2India online to over 100 banks in India. 

You can also sign up on the Money2India app to make the transfer hassle-free. 

The best part is that your recipient can receive the money within 24 hours or less. And if you transfer the money to an ICICI bank account in India, the transfer is completed in under 30 minutes.

If you are transferring for the first time with Money2India, check for promotional offers on CompareRemit.


Remit2India is a leading new-age online money transfer service that enables NRIs to send money to India from countries such as the United States, Canada, United Kingdom, Australia, and Ireland. 

You have 3 options to send your money:

  • Direct Debit
  • Bill Payment 
  • Email Money Transfer

The money gets delivered usually within 3 working days but can vary depending on the sending and receive options you choose. There is no fee for your first transfer for the transfer amount of CAD 501- CAD 200,000. A flat fee of CAD 2.99 is applied for the transfer amount of CAD 50- CAD 500.

With Remit2India, you can transfer funds directly to top national banks in India, at 500,000 branches of 90 banks such as Axis Bank, ICICI Bank, State Bank of India, etc.

How To Send Money From Canada To India?

Once you have compared the money transfer companies and honed down on the company you want to go with, follow the basic steps below to make your transfer:

  • Open an account online with the chosen remittance company,
  • Provide all the personal information and documents required for identification,
  • Set up your transfer using your recipient details and bank information in India,
  • Enter transfer amount,
  • Check the exchange rates and transfer fees, and transfer speed,
  • Check if there are deals and promotions to lower your transfer costs,
  • Select a delivery method,
  • Pay for your transfer by choosing a payment method,
  • Confirm all the information and press “Send”,
  • Leave the rest to the remittance provider,
  • Track your transfer,
  • Check with your recipient whether they have received the money or not.


There are a lot of options at your disposal when sending money overseas. All of them come with various caveats that may include exchange rates, fees, transfer speed, deals and promotion, security and privacy, and so on. 

The best way to help you decide which service provider to choose for your CAD to INR money transfer is to compare them side by side. 

CompareRemit's real-time comparison tool compares numerous banks and many money transfer companies offering CAD to Indian rupee money transfer in terms of fees, speed, exchange rates, and more. This will help you pick the service that works best for you and your transfer needs. You can sign up for free rate alerts to keep you updated with the best rates and promotions for CAD to INR money transfers.

Compare CAD to INR exchange rates by using CompareRemit's online tool today!

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If your recipient prefers cash, consider services that allow for cash pickup at local agents in the Philippines.Online Money Transfer Services: Online money transfer services like Wise, Remitly, and other similar service providers offer competitive rates, lower fees, and fast transfers. They are often the preferred choice for sending money to the Philippines.Mobile wallet: Mobile wallets have become increasingly popular for sending money to the Philippines, with Gcash leading the way as a prime example. The mobile wallet option not only offers speed and ease but often comes with competitive currency exchange rates and low fees, making it a cheap and efficient choice for sending money to the Philippines.Cryptocurrency: Some people use cryptocurrencies like Bitcoin to send money internationally, as it can provide fast and potentially lower-cost transfers. However, this option may not be suitable for everyone due to its volatility and complexity.Frequently Asked QuestionsHow much is 1 dollar to Philippine peso?The exchange rate between the US dollar (USD) and the Philippine peso (PHP) can fluctuate daily based on market conditions. To find the current exchange rates, you can check financial news websites, use currency converter apps, or contact your local bank. As of 9th September, 1 USD equals 56.66 PHP.How to convert PHP to USD?To convert Philippine pesos (PHP) to US dollars (USD), you can visit a currency exchange service, a local bank, or use an online currency converter tool. Simply enter the amount in PHP, and it will provide you with the equivalent in USD.How to send money to the Philippines?There are several ways to send money to the Philippines: bank transfers, money transfer services, mobile wallets, etc. Refer to the blog for the details.What is the cheapest way to send money to the Philippines?The cheapest way to send money to the Philippines can vary depending on factors such as the amount you're sending, the exchange rate offered, and the fees involved.Generally, online money transfer services like Wise often offer competitive rates and lower fees compared to traditional banks and other transfer options. However, it's essential to compare rates and fees to find the cheapest option for your specific needs.How much does it cost to send money to the Philippines?The cost of sending money to the Philippines can vary widely depending on the service provider, the amount being sent, and the method of transfer.Some providers may charge a flat fee, while others may have a percentage-based fee. Additionally, exchange rate margins can impact the overall cost.To find out the exact cost, you should check with the specific service provider you plan to use, as fees and rates can change over time.ConclusionMaximizing the US dollar to Philippine peso currency exchange rates involves knowing how exchange rates work, staying informed, timing your currency exchange carefully, and selecting the right money transfer service. By following these tips and monitoring historical trends, you can enhance the value of your currency conversion.Keep in mind that exchange rates fluctuate, so adjusting your approach to current market conditions is essential. Whether sending money to family or handling international transactions, informed choices can lead to long-term savings.If you're looking for the best USD to PHP today, use CompareRemit to discover top remittance providers and the best dollar-to-Philippine pesos exchange rate!

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