Send money to India from Canada: compare rates, fees and speed
NRIs in Canada can send money to India via Wise, Remitly, Canadian bank wire or specialist remittance services. CAD-INR rates vary significantly between providers. Compare the total INR received after all costs — not just the exchange rate shown.
Canadian banks charge 2–3% spread over mid-market
For CAD-to-INR transfers from Canada, Wise and Remitly are significantly cheaper than Canadian bank wires, which typically apply a 2–3% spread. Compare total INR received for your exact amount. Set a USD-INR rate alert on NRI Desk as a proxy indicator.
Key points
- Bank spread is high — Canadian banks (RBC, TD, Scotiabank) typically apply a 2–3% spread on CAD-INR — significantly more than Wise or Remitly.
- CAD moves with oil prices — CAD is a commodity currency correlated with oil — CAD-INR can move independently of USD-INR.
- Wise best for larger amounts — For amounts above CAD 1,000, Wise's percentage fee structure is usually cheaper than Remitly's fixed fee plus spread.
How to compare CAD-INR providers
Note the current CAD-INR mid-market rate. Enter the same CAD amount on Wise, Remitly and your Canadian bank's international transfer page.
Compare: exchange rate, total fees and INR received. Choose the option that delivers the most INR to your recipient.
Canadian bank vs online provider
TD Bank, RBC, Scotiabank: typically charge $10–$30 fee plus a 2–3% spread. Convenient for existing customers but expensive.
Wise: mid-market rate with transparent fee — typically 0.4–0.8%. Best for amounts where 1% rate difference is material.
Remitly: competitive flat fee plus small spread; express delivery is faster but costs more.
Remittance-specific services (Remit2India, IndusInd NRI): check rates for the CAD-INR corridor on the day.
Frequently asked questions
Is there a limit on sending money to India from Canada?
Canada has no general cap on personal outward remittances. India has no inward cap. Providers apply compliance checks for large amounts.
Can I send CAD to an NRE account in India?
Yes. NRE accounts accept inward foreign currency remittances including CAD. Compare the bank's conversion rate with a Wise transfer to see which gives more INR.
How do I track CAD-INR for a good transfer window?
Monitor CAD-INR via Google Finance. USD-INR on NRI Desk is a useful proxy — CAD and USD often move together against INR, though not always.