How to send money to Sri Lanka from Canada with the best CAD-LKR rate

A comparison of providers offering services between Canada and Sri Lanka is the easiest way to ensure the best deal.

Here are your top options for sending money from Canada to Sri Lanka

• TorFx is our recommended company for CAD to LKR transfers. For example, sending 10,039 CAD to LKR will cost you $0 in fees, and you will receive 2,070,760.44 LKR. The delivery time usually is 6-12 hours, but it depends on the day you make the transfer.

• TorFx offers a combination of the lowest fees and best exchange rates - making it the cheapest transfer service for sending Canadian Dollar to Sri Lanka. It is 0% cheaper than the second-best option. The is cost is made up of CAD-LKR exchange rate that is 0.3% different to the mid-market rate and the a of 0 CAD.

• Fastest way to transfer money to Sri Lanka from Canada is with TorFx. For sending $10,039 with TorFx to Sri Lanka now, the transfer time is 6-12 hours.

We've compared 10 providers that offer services for sending Canadian Dollar to Sri Lanka.

This ensures you will get the best options for your transfer to Sri Lanka from Canada.

An exchange rate determines the price you will pay when buying Sri Lank Rupee. A better exchange rate means more money reaching the recipient in Sri Lanka.

The current rate between the Canadian Dollar and Sri Lank Rupee is 240.157. With the CAD-LKR exchange rate changing almost constantly, it pays to know the averages to get a better deal.

The total cost of sending money to Sri Lanka from Canada, is made-up of a combination of fees and exchange rates. Sending with a company that can offer a good deal on both ensures a good deal on your transfer.

• The Mid-Market and Exchange Rates: Currently, the mid-market for CAD-LKR is 240.157 LKR per Canadian Dollar.

• Fees: Transfer fees may have to be paid alongside the transfer, either as a set fee or a percentage of the transfer. TorFx, cahrges 0 CAD per transfer, which is currently the cheapest option. Although you should search for your send amount for actual fees.

• Amount Received: Money transfer companies will show you the amount of Sri Lank Rupee eventually received in Sri Lanka.

A better option is to use a forward contract can also allows you to lock in an agreed exchange rate between Canada and Sri Lanka.

Paying via bank transfer is the payment method that will get you the best price with a money transfer company. When sending money from Canada to Sri Lanka.

Here are all the ways to send money from Canada to Sri Lanka:

Bank transfers

A bank transfer is often the default option for money transfers from Canada to Sri Lanka.

By using a money transfer company such as TorFx to send money from Canada to Sri Lanka, you can while benefit from lower fees and more favorable exchange rates than a bank would offer. 


Debit and prepaid cards

Sending money from Canada to Sri Lanka with a prepaid or debit card is very easy with Xe.


Xe is a great choice for sending money with a debit card from Canada to Sri Lanka. This is from the 10 money transfer companies compared.

Credit cards

When it comes to credit card money transfers from Canada to Sri Lanka there aren't that many options, mainly because it's more expensive.

If you have to, we recommend running a quick comparison to get the best deal on LKR

Companies offering money transfers between Canada and Sri Lanka have minimum or maximum thresholds on how much money you can send.

Rates and fees for different transfer amounts could change if you pass a threshold - that’s why it’s best to compare CAD-LKR rates for your specific transfer amount.

For regular transfers from Canada to Sri Lanka, shopping around each time can make a huge difference.

We’ve recommended TorFx for sending CAD to Sri Lanka, because of their combination of rates and fees when sending from Canada to Sri Lanka that is the most competitive, even at larger amounts.

Check with the recipient and understand any declarations needed on large amounts of money entering Sri Lanka from Canada.

There are different ways to receive Sri Lank Rupee in Sri Lanka. The most popular options are direct bank deposit, cash pickup, a mobile wallet or receiving money into a multi-currency account.

All providers work differently and not all offering transfers from Canada to Sri Lanka support every method for receiving Sri Lank Rupee so it’s best to check ahead of time.

Sending directly to a bank account in Sri Lanka is one of the most common ways to receive money from Canada. For most part, this is convenient but does have receiving fees to potentially be aware of.

TorFx is the best company for bank transfers between Canada and Sri Lanka.

Cash pickup is popular in Sri Lanka, but not always supported and can be costly compared to cheaper options.

Mobile wallet or P2P services and payment apps like PayPal, Zelle, and CashApp are popular because of convenience. They come with more limitations and higher costs compared to money transfer providers like TorFx, and are recommended for domestic payments only.

When sending Sri Lank Rupee to Sri Lanka, you will need to verify your ID with your chosen money transfer company.

The documents you need will vary and in some cases you might need more than one.

For the most part, accepted IDs in Canada include government issued IDs such as passports or driver's licenses. If the recipient needs an ID to collect money in Sri Lanka, the options are similar.

Large transactions between Canada and Sri Lanka can be subject to additional checks such as proof of funds for anti-money laundering purposes. These won’t be needing when signing up, but will be need ahead of any transfer.

One of the reasons TorFx has scored so highly for transfers to Sri Lanka is their easy sign up process in Canada.

When sending money between Canada and Sri Lanka there will be tax declarations to consider.

Some transfers into Sri Lank Rupee may need to be reported to tax authorities in Sri Lanka and Canada, depending on size and particularly where inheritance or property purchases are involved.

Tax limits and personal allowances will change in Sri Lanka based on age, income and a few other elements - such as whether the funds are a gift. Tax law can be confusing, when in doubt, please contact a tax professional in Canada or Sri Lanka to discuss your personal circumstances to ensure you are not missing any specific tax declarations associated with your international money transfer.