Send Money from Canada to India
Compare regularly updated CAD → INR rates from 17+ providers. No hidden fees.
Why People Send Money Canada → India
Canada has one of the largest Indian diaspora communities in the world — over 1.4 million people of Indian origin call Canada home. Remittances fund family living costs, property purchases, education fees, and medical expenses. The CAD→INR corridor sees especially high volumes in the fall when university fees are due in India.
Pro Tip: Use a Bank Transfer, Not a Debit Card
Paying via Interac bank transfer or pre-authorised debit is almost always cheaper than a debit or credit card on this corridor. Card payments can add 1–2% on top of the transfer fee.
How to send money from Canada to India
- Compare providers: Use the comparison table above to see current CAD→INR rates. Look at the INR amount your recipient gets, not just the fee — the exchange rate margin is usually the biggest cost.
- Sign up for a free account: Registration takes 5–10 minutes. Canadian providers require proof of address and a government-issued photo ID (passport or driver's license).
- Enter recipient bank details: You need your recipient's Indian bank account number, IFSC code, and full name as it appears on their account. The IFSC is an 11-character code identifying the specific branch.
- Fund via Interac or bank transfer: Interac e-Transfer or pre-authorised debit is the fastest and cheapest funding method in Canada. Wire transfers from your bank are also accepted by most providers.
- Track and confirm: You will receive SMS and email updates when the transfer is sent and when it arrives. Most providers offer a tracking page or app notification.
What to know
IFSC codes explained
Every Indian bank branch has a unique IFSC (Indian Financial System Code) — 11 characters, starting with 4 letters (the bank code), a 0, then 6 alphanumeric characters. Your recipient can find theirs in their mobile banking app, on a cheque leaf, or on the bank's official website. An incorrect IFSC is the most common reason transfers are delayed.
Canadian transfer limits
Most providers allow CAD $10,000–$50,000 per transfer for verified accounts. FINTRAC (Canada's financial regulator) requires all transfers above CAD $10,000 to be reported. Your provider handles this automatically after identity verification — you just need to explain the purpose of the transfer.
Tax implications in India
Family remittances (money sent to parents, spouse, or children) received in India are generally not taxable for the recipient. However, if you are sending for property purchase or investment, the recipient may need to declare it under FEMA (Foreign Exchange Management Act). Consult a CA for amounts above ₹7 lakh.
For Canada-to-India transfers, Wise is consistently one of the best options — it uses the mid-market CAD/INR rate with a transparent fee around 1–1.5%. WorldRemit is popular for first-time senders with a fee-free promotion, and it supports same-day delivery to major Indian banks. ICICI Bank Canada (Money2India) is a good option if your recipient banks with ICICI in India. Western Union is worth checking for occasional promotional rates. For amounts above CAD $5,000, compare OFX and Wise directly — OFX often offers better rates on larger transfers with no fixed fee.
FAQs
How long does a transfer from Canada to India take?
Most online providers (Wise, WorldRemit) deliver to Indian bank accounts within 1–2 business days. Same-day delivery is available on some corridors. Traditional bank wire transfers typically take 2–4 business days. Cash pickup through Western Union or MoneyGram is usually available within minutes.
What is the best way to send money from Canada to India?
For most amounts, Wise or WorldRemit offer the best combination of exchange rate and fees. Use the comparison table at the top of this page to see regularly updated rates — the best provider varies by amount. For very large transfers (above CAD $10,000), OFX is worth comparing.
What is an IFSC code and where do I find it?
IFSC (Indian Financial System Code) is an 11-character code that identifies the specific branch of an Indian bank. Your recipient can find it in their mobile banking app, on a cheque leaf, on their bank card, or on the bank's website. Without the correct IFSC, the transfer cannot be processed.
Is there a limit on how much I can send from Canada to India?
Limits vary by provider. Wise allows up to CAD $1,000,000 per transfer for fully verified accounts. WorldRemit typically caps at CAD $30,000 per transaction. FINTRAC reporting is required for transfers above CAD $10,000 — providers handle this automatically.
Do I pay tax on money sent from Canada to India?
In Canada, you are sending your own after-tax money, so there are no additional Canadian taxes on remittances. In India, money received as a family remittance (from a close relative) is generally exempt from income tax. For non-family transfers or investment purposes, Indian tax rules may apply — consult a chartered accountant.
Can I send money to an Indian mobile wallet from Canada?
Yes. Some providers like WorldRemit support delivery to Paytm and other Indian mobile wallets. However, bank-to-bank transfers are more reliable and support larger amounts. Check the delivery options for your chosen provider before sending.