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7 Ways to Send Money from Canada to India for Cheap in 2023

Sending money internationally is an important way to support friends and family living abroad. For example, if you live in Canada and have family or friends living in India, you can transfer funds to them using a global money transfer service.

However, when you do it regularly, the fees add up. Therefore, you should find ways to send money from Canada to India that are cheap and convenient.

Money transfer services allow you to transfer funds quickly and securely. They also have competitive exchange rates and minimal fees.

Alternatively, you can use bank transfers. However, this may take longer, and the exchange rates and fees may not be as favourable.

In this article, we will discuss seven (7) cheap and convenient ways to send money from Canada to India in 2023. We will explore the best options for transferring funds and discuss the pros and cons of each option, so you can decide which method is best for you.

Best Ways To Send Money From Canada to India

There are a few different options that you can consider when it comes to international money transfers.

1. Wise

One of the best ways to send money from Canada to India is through Wise. It is well known for its low fees and transparency, making it an attractive choice for people who need to transfer money internationally.

Wise also offers a multi-currency account which allows customers to hold up to 40 different currencies at once.

With Wise, you can send money to bank accounts and mobile wallets in minutes. The recipient receives the funds in their local currency.

From Canada to India, Wise charges a transfer fee of 0.75% of the amount transferred.

Some of the benefits of using Wise include:

  • No hidden fees
  • No markup on the exchange rate, and
  • 24/7 customer support in case you encounter any problems with the Wise transfer.

However, Wise does not offer banking services or Wise bank. You may need to find a separate banking provider to manage your money.

Read our Wise detailed review to learn more, or sign up here and send your first $800 CAD for free.

2. Xe Money Transfer

Xe Money Transfer is another secure, fast, and easy way to send money from Canada to India and over 129 countries. It is a part of Euronet Worldwide (NASDAQ: EEFT), one of the top leaders in currency exchange.

The transfer process is simple and easy to do. All you need to do is sign up for a free Xe Money Transfer account and then provide the required information for the service. The transfer will then be completed in a matter of minutes.

When sending money to India, Xe Money Transfer charges a fee of 1.5% of the total amount being sent.

On the downside, Xe Money Transfer does not offer a way to track the status of the transfer. This can make it difficult to know when the money has been received by the recipient.

3. Western Union

Another example of a reliable and secure way to send money from Canada to India is through Western Union. Through Western Union, you can send to over 200 countries.

There are three ways you can send money from Canada to India using Western Union. You can send it online through their website. You can also send through the Western Union app. Lastly, you can send money in person from Canada to India through Western Union’s 2,700 Canadian agent locations.

Western Union is known for its speedy transactions. Sending money from Canada to India can be completed within minutes.

However, the exchange rates of Western Union are typically higher (i.e. less favourable) compared to other money transfer service providers.

4. ICICI Bank Canada

ICICI Bank Canada allows its account holders to instantly send money to India. Aside from a fast, convenient,  and secure money transfer, being an account holder at ICICI Bank Canada gives you other interesting perks:

  • You can set your ideal currency conversion rate when transferring money. Once the exchange rate reaches or becomes higher than your desired rate, your transaction will automatically be processed. If it didn’t within 15 days, you will need to input again your preferred rate.
  • Through the bank’s Sanding Instruction (SI) feature, you can schedule a regular transfer for a specific recipient. For example, if you regularly send money from Canada to India under SI, the transfer will automatically happen.

Here’s a definitive review of ICICI Bank Canada.

5. Remitly

Remitly is another great way to send money from Canada to India. It is well-known for its competitive exchange rates, fast transfers, and easy-to-use mobile and web-based platforms. It offers a variety of payment options, including bank transfers and debit/credit cards.

Finally, Remitly’s customer support team is available 24/7. They provide helpful guidance and answer any questions you may have.

When you send 500 CAD or more from Canada to India using Remitly, you are entitled to the zero transfer fee that the platform offers. If you are sending less than 500 CAD, you will need to pay 1.99 CAD.

Related: Remitly overview.

6. Panda Remit

Another great way to send money from Canada to India is through the Panda Remit website or app. In Panda Remit, you can send money from Canada to India with controlled security, regulated services, and a fast transaction process.

Panda Remit guarantees to complete the money transfer in as fast as 3 minutes. Additionally, it charges a fixed transfer fee of 4 CAD for all transfers.

7. Xoom (PayPal)

Xoom is a PayPal service that allows you to send money internationally, such as sending money from Canada to India.

With Xoom, you can send money to your recipient, who can receive the amount in their bank account, debit card, or mobile wallet. You can also send cash for pick up or home delivery.

When you send money from Canada to India using Xoom, it charges you a transfer fee of 0.3% up to 1.3%, depending on your payment method.  When you send money from Paypal to Xoom, the fees tend to be lower because there is no service fee charged.

Aside from sending money, Xoom also allows you to pay your international bills and reload your prepaid mobile phone.

You can easily use Xoom through your Paypal account. You can log in to the Xoom website or app using your Paypal credentials.

Unlike Wise and Xe Money, Panda Remit, Xoom, Western Union, and ICICI Bank do not offer you the mid-market exchange rate, which is more favourable.

image showing an international money transfer is being made on a mobile to different countries worldwide

How to Send Money from Canada to India

Whether you are sending money through a bank, an app, or any money transfer platform, the process is more likely to be similar.

First, you will need to create an account on your preferred platform.

Once you have created an account, you can already send money to your recipient. To do that, go to the platform’s SEND MONEY option.

From there, you need to input how much you are going to send. This amount will be converted into the recipient’s currency. For example, when you send money from Canada to India, the currency will change from the Canadian dollar to the Indian rupee. Additionally, you will see the fees and other charges of the transaction, as well as the net amount your recipient will receive.

Then, you need to put your recipient’s details, such as full name, contact, email, address, and others. Lastly, you need to choose your preferred payment method.

How Much Does it Cost to Send Money From Canada to India?

Generally, sending money from Canada to India costs 0.3% up to 1.5% of the amount being transferred. However,  the cost may vary. It depends on important factors, such as the service provider, the transfer fees, and the current exchange rate.

Ideally, what you need is a money transfer provider that lets you send money from Canada to India without an expensive transfer fee. In addition, the service provider should use competitive currency exchange rates.

However, other features cost more. For example, an instant transfer costs more than a two-day transfer.

What is the Cheapest Way to Send Money from Canada to India?

The cheapest way to send money from Canada to India is by using Wise or Xe Transfer. While you will pay a transfer fee, the exchange rate you get is closer to the best available, giving you more bang for your buck.

Although some money transfer services offer free transfers, they add a markup to the exchange rate, which often makes your transfer more expensive.

Pros and Cons of Money Transfer Apps from Canada to India

The advantages of using money transfer apps from Canada to India include:

  • Convenience
  • 24/7 customer support
  • Fast delivery

The disadvantages include:

  • High and inconsistent currency conversion rate
  • Transfer fees and other charges
  • Security is not always guaranteed.

How long does it take to transfer money from Canada to India?

Using reliable international money transfer apps and websites, you can send money from Canada to India instantly or for up to 3 days. The speed of transfer largely depends on the platform you use, as well as your chosen payment method, and the recipient’s receiving end.

If there were any problems with your transaction, such as wrong recipient information, the transfer will take longer.


How can I send money from Canada to India for free?

You can send money from Canada to India for free using Remitly. It has a zero transfer fee for transactions amounting to CAD 500 and more.

Can I Google pay from Canada to India?

You cannot use Google Pay to send money from Canada to India. Currently, Google Pay is only available for international transfers from the US to India.

Which app is best for sending money from Canada to India?

Using Wise is the best way to send money from Canada to India because of its low transfer fees, high currency conversion rate, and instant transfer feature.

Can you e-transfer from Canada to India?

Definitely. There are several e-transfer services you can use to send money from Canada to India, such as Wise, Remitly, and Xoom.

What is the maximum limit for money transfers from Canada to India?

Generally, there is no legal law that limits international transfer from Canada to India. However, you should also check with your financial institution to ensure that the amount you are sending does not exceed any limits imposed by them.

Additionally, the Canadian government requires financial institutions to report any electronic fund transfers exceeding 10,000 CAD to the Canadian Revenue Agency (CRA). This helps the government track taxpayers who avoid paying taxes.

Therefore, it is safe to assume that 10,000 CAD is the safe maximum limit for sending money internationally from Canada.


You can send money from Canada to India in several cheap, fast, and convenient ways. It is important to consider the different options available and to research the fees and exchange rates associated with each one.

With the right information, you can make an informed decision about which method is best for you.

If using a bank, here are some reviews covering the options available:

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Gravatar for Enoch Omololu, MSc (Econ)
Enoch Omololu, MSc (Econ)

Enoch Omololu is a personal finance expert and a veterinarian. He has a master’s degree in Finance and Investment Management from the University of Aberdeen Business School (Scotland) and has completed several courses and certificates in finance, including the Canadian Securities Course. He also has an MSc. in Agricultural Economics from the University of Manitoba and a Doctor of Veterinary Medicine degree from the University of Ibadan. Enoch is passionate about helping others win with their finances and has been writing about money matters for over a decade. He has been featured or quoted in The Globe and Mail, Winnipeg Free Press, Wealthsimple, CBC News, Financial Post, Toronto Star, CTV News, Canadian Securities Exchange, Credit Canada, National Post, and many other personal finance publications. You can learn more about him on the About Page.

His top investment tools include Wealthsimple and Questrade. He earns cash back on purchases using KOHO, monitors his credit score for free using Borrowell, and earns interest on savings through EQ Bank.

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