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How to Send Money from Canada to India

Get the best deals when you transfer from Canada to India. Find the cheapest, fastest, and most reliable providers with the best exchange rates.

Read on for the best deals, expert information, and all you need to send money to India from Canada.

Aneeca Younas
Author 
Aneeca Younas
6 minutes
January 14th, 2024
Disclosure

Ways to send money from Canada to India

The best rated provider for transfers from Canada to India

TorFx

Total number of CAD - INR providers

10

Average cheapest provider for transfers to India from Canada

Remitly

Average cost of the cheapest transfer from Canada to India

$

Best for bank transfers from Canada to India

XE

Best for debit card transfers from Canada to India

Wise

Best for credit card transfers from Canada to India

Wise

You can always compare rates and fees based on your transfer amount and payment options when sending money.

The best way to send money from Canada to India

Instarem is the best way to send money to India from Canada. This is based on cost, speed, and how easy it is to use.

We analyzed 10 providers that allow CAD to INR transfers. Instarem emerged as the best option in 44.6% of searches.

How to send money from Canada to India

Follow these steps to send money between Canada and India

  1. Choose your provider. Register with the provider of your choice by clicking on the link above.

  2. Enter your details. Enter your details and provide any of the documents needed.

  3. Start your transfer. Tell your provider that you'd like to send money from Canada to India, how much you'd like to send, and how you'd like to pay for your transfer. You'll also need to add your recipient's details.

  4. Check the recipient's details. This is really important. It can be very difficult to reverse a transfer from Canada to India once it's been sent. Make sure all the details are correct before you submit.

  5. Send the money. When you've checked the details, you can make the transfer.

The cheapest way to send money from Canada to India

The cheapest way to send money from Canada to India is Remitly. On average, transfers from Canada to India with Remitly cost $, making them 0.6 cheaper than their nearest competitor.

Remitly has been the cheapest way to send money from Canada to India for the last three months, on average.

Just to make you aware, bankTransfer was the cheapest payment method.

The current mid-market rate between CAD and INR is 61.216802. The rate the time you transfer will impact your overall cost. As an example, Wise has averaged -0.05% below the mid-market rate over the last three months, generally making sending money a little cheaper before fees.

Note: The cheapest way to send money isn't always the fastest

Remitly is the cheapest way to send money from Canada to India, but make sure the timeframes work for you.

How the cost of sending money to India from Canada is calculated

The cost of sending money from Canada to Canada depends on several things, including:

The mid-market rate

The current mid-market rate between CAD and INR is 61.216802. The rate the time you transfer will impact your overall cost. As an example, Wise has averaged -0.05% below the mid-market rate over the last 3 months, generally making sending money a little cheaper before fees.

The markup and fee

Providers will often charge a markup on the rate, fees, or both, for transfers between India and India. This is why Instarem is listed as our cheapest option - they offer the best combination of Canadian Dollar to Indian Rupee rates (0.47) and fees ().

Bank transfers from Canada to India

Bank transfers are the most common way of sending CAD to India as they are secure, reliable, and convenient.

If you want to send Canadian Dollars to India via bank transfer, XE has been the top rated provider in our comparison system for the last three months, recommended 34.3% of the time.

That’s because companies like XE bypass the SWIFT network and rely on their own digital network of banks, making transfers faster and cheaper. As an example, XE's transaction fees for Canadian Dollars into India have averaged at 8.69 for the last three months. This is significantly lower than the fees charged by banks.

Credit card payments from Canada to India

Credit card payments are quick, convenient, and typically more secure than other methods, thanks to backing by the issuing party. Some users may even be able to rack up reward points when making large transactions.

If you want to send Canadian Dollars to India with a credit card, Wise is your best option. They've been the top rated provider in our comparison system for the last three months, recommended 66.7% of the time.

Note: Beware of charges

Credit card payments are often classified as cash advances, which bring their own charges, as well as currency conversion and usage fees. Forgetting to pay your balance can also result in high interest charges, and can even damage your credit score.

Debit card payments from Canada to India

Debit card payments let you send money from the Canada to India with the similar convenience of a credit card, and there are usually no tax advance fees. That said, you might still face currency exchange fees, processing fees, and other expenses, making this a pricier option than a simple bank transfer.

If you want to send Canadian Dollars to India with a debit card, Wise is your best option. They've been the top rated provider in our comparison system for the last three months, recommended 66.7% of the time.

Finding the best exchange rate for CAD to INR

The mid-market exchange rate changes daily, so timing your transfer can make a big difference to how many INRs you can get for your CADs. The average Canadian Dollar to Indian Rupee mid-market rate over the last month was 61.3393, with a low of 60.9639 and a high of 61.5695.

For comparison, the best exchange rate for CAD to INR right now is through Wise, at a difference of -0.01%.

Mid-market Rate
1
= 0.016335 CAD
Mid-market rate at: 16:38 UTC
INR/CAD Median: 0.016298 Low: 0.016258 High: 0.016343

How we find the best transfer deals from Canada to India

We’ve compared the cost, speed, and product offering of the top money transfer services (including TorFx) available between India and Canada. Or comparison tool compares providers based on live fees, rates, and transfer times to make sure you get the best deal available.

We also produce unbiased, detailed reviews of all the top money transfer companies for sending Canadian Dollar to India, helping you in making smarter, simpler choices. We pride ourselves on our objective reviews, maintaining complete independence in our analysis and ratings.

Take a look at our comprehensive editorial policy for more information about our dedication to integrity and transparency.

Check your provider is regulated

You should only ever use regulated providers to transfer money. If a provider is not regulated, it’s likely to be a scam.

Remember: We will only ever recommend regulated financial institutions.

FAQs

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Contributors

Aneeca Younas
Aneeca Younas, based in Abu Dhabi, is a distinguished writer specializing in Business Economics and Finance. With her robust academic background in Business Economics merged with a fervent passion for journalism, Aneeca stands out in the domain of international finance. Her extensive experience working with global finance companies has endowed her with a profound understanding of international money transfers, making her insights invaluable for those seeking to navigate the complexities of global financial transactions.