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When you’re transferring money between Canadian dollars (CAD) and Indian rupees (INR), you want to keep your currency exchange fees to an absolute minimum. We help you find the simplest, quickest and most secure ways to convert your money and send it to from Canada to India.
Whatever your needs, we’ll save you money. Whether you’re going on holiday in India, helping out your family and friends, taking care of daily expenses or something else, we’ll share the cheapest and best money transfer providers. That way, the person getting the rupees has more cash in their pockets, and that’s good for both of you.
Canadian residents send around $3.5 billion CAD to India every year. Traditional banks, PayPal and some currency exchange businesses do charge unnecessarily high fees. Combined, on the total amount that Canada sends to India each year, these charges could mean up to $175,000,000 USD in unnecessary fees — or $875 each if 200,000 residents are converting their Canadian dollars to rupees.
There are three main ways you could be overpaying when you’re converting between Canadian and Indian money:
Fixed fee — this is a fixed CAD fee that banks and some other providers charge to convert and transfer money to India. It could be as much as $40 CAD.
Percentage fee — this is a commission that you pay on the total amount you transfer, so the less you send, the less you pay. These percentage fees can range between under half a percent to two percent or more.
Difference to exchange rate — this is where a currency provider offers a worse exchange rate than the standard exchange rate. For example, the standard exchange rate states that $100 CAD is worth 5,380 INR, but a currency provider sends 5,310 rupees to the beneficiary.
When we compare money transfer providers, we take all the fees into account, and recommend the ones where your Canadian dollars go furthest. That keeps things simple and easy for you.
Sending money to India is fast and simple.
Canadian residents have a few ways to pay for a transfer. All specialist money transfer providers accept direct bank payments or transfers, and many also allow you to pay with your debit or credit card.
Almost 200 million Indian residents don’t have a bank account, this means cash pickup is a good option. We’ve shown these details below.
For higher-value transactions to India, you may choose to transfer funds using a foreign exchange (FOREX) broker, as you will receive personalized phone or email service and may be assigned a specialist account manager. A FOREX broker may offer multiple collection options for the person receiving the funds.
The fees you pay to send money to India can change, depending on how much you’re transferring. Because of this, we’ve compared money transfer specialists over four different amounts:
Very low-value transfers of $100 CAD or less
Low-value transfers of $500 CAD
Medium-value transfers of $2,000 CAD
High-value transfers of $10,000 CAD or more
Best providers to transfer $100 CAD to INR
Paying in options
Direct bank payment
Direct bank payment*
Bank account deposit
Speed of transfer
Three to five days
Same day to next day
*There may be an additional fee for funding a transaction using this method.
Best providers to transfer $500 CAD to INR
Same day to five days
Best providers to transfer $2,000 CAD to INR
Foreign exchange personalized service
Other collection options may be available
Best providers to transfer $10,000 CAD to INR
We hope you’ve found this comparison useful. For the lowest money transfer fees, always use our currency comparison tool, and sign up for rate alerts so you can find the best times to send money from Canada to India.
Transfers to a bank account
The 9 best options to transfer CAD to a bank account in India
What's this? We only let providers that are among the cheapest offers and meet strict criteria including top Trustpilot review scores obtain this spot.
When more than one provider is a great option for your transfer, we feature the provider that pays us more than the cheapest option at the top. This helps us keep Monito free of charge for you! But it does not mean our partners can pay to guarantee to be featured.
We always ensure the provider has excellent customer reviews, and there is little to no cost difference compared to the cheapest provider (in this case the difference between WorldRemit and Transfast is only 1.36 CAD).
Cash pick-up at an agent location
The 1 best options to send CAD for cash pick-up at agent locations in India
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We found 9 different money transfer providers offering money transfers to India from Canada.
If the person you're sending money to wants to receive in her bank account in India, then Transfast is currently the cheapest provider with zero transfer fees and a good CAD-INR exchange rate (their current exchange rate is 1 CAD = 51.6143 INR).
In comparison, the total cost would be 44.39 CAD (approximately 51x more) if you wanted to use Royal Bank of Canada for the very same transaction.
For sending money to India, it might be worth it to also have a look at two other competitive providers: WorldRemit and Remitly.
If you would like the recipient of your transfer to receive in cash where they live in India, then the most competitive provider currently is Transfast, with no transfer fees and a competitive CAD-INR exchange rate (currently at 1 CAD = 51.4 INR).
This recommendation was updated a few minutes ago.
Hi! I'm Pascal and I am in charge of making Monito as helpful as possible for you. Don't hesitate to drop me a line if you have a question, if you need help to understand the results or to find the best operator for your transfer.
Yes. We only list money transfer operators or banks that are fully authorized and monitored by the regulation authorities of the countries where they operate.
Before each international money transfer, you should come and compare the costs of the different options on Monito, as they may have changed. Once you fill out the above form and click on compare, you’ll see a list of all the options to send money between two countries. The cheapest option is at the top, but you may want to consider other criteria such as the speed of transaction or the pay-in or pay-out methods.
Of course! Banks are usually not the best way to make international money transfers. The fees can be quite low (and sometimes even zero), but beware of the poor exchange rates which banks often apply. We list as many banks as possible in our results, so do compare to find out if you’d be better off switching to another bank or a specialized money transfer company.
Monito is not a money transfer company. We’re here to help you find the best way to send money abroad. Just tell us which country you’re sending money from and which country you want to send money to, and we’ll show you a list of all available services. Once you select the best one for your needs, you'll be redirected to their website to get started with your money transfer.
As much as we try to have complete information and to include as many money transfer companies in our results, we sometimes miss a few. In this case, the best solution would be to write us a short message to let us know what’s missing!