Charges

• Transaction Fee - Charged by the processing bank. Typically it's in the range Rs 300 - Rs 600. This is in sharp contrast to other remittance providers who usually charge up to Rs 1500 - 3000.
• Intermediary Bank Fee - This fee is charged by the intermediary banks in the SWIFT through which the money transfer takes place. You can cover intermediary bank charges upfront by adding a small amount as extra.
• Beneficiary bank charges - The beneficiary's bank might deduct a small fee from the credited amount. This varies from bank to bank. Check with the beneficiary bank to find out the exact amount.

Taxes

• GST - Government mandated. Depends on the amount you are transferring, usually quite minimal (starting from Rs 45 per transaction).
• Tax Collected at Source - For forex transactions, TCS would be applicable for the amount exceeding 7 lakhs in a financial year. This can be reclaimed at the time of filing your IT returns. 0.5% if the source of funds is from an education loan. Calculate the exact TCS to be paid using our TCS Calculator.

The ExTravelMoney Promise

• No Hidden Charges: All the fees applicable will be shown transparently on our order summary page and also intimated by our customer support team prior to the transfer.
• Zero Order Booking Fees: Yes, you read that right. Our mission is to connect you with the best exchange rates, and we don't charge you for that.

• University Fee Payment to Canada
• Living Expenses of Indian Student in Canada
• Payment to GIC account
• Sending Money to any close relative in Canada
• Remittance by tour operators to agents or hotels in Canada
• Visa / Emigration fees
• As a gift to a Canadian resident
• Fee for participation in conferences or training
• Emigration Consultancy Fee

• Beneficiary Bank Name & Address
• Beneficiary Name & Address (as given in bank)
• SWIFT Code & Transit Code
• Beneficiary Account Number

Notes:

• All foreign currency transactions are subject to Service Tax.
• Foreign Exchange and Money Transfer services are available through Tied-up Reserve Bank of India approved Authorized Dealers only. All foreign exchange transactions are subject to AML/CFT/KYC & FEMA policies instructed by the Reserve Bank of India.

Transferring money from Canada to India typically takes 1-3 business days. If the Indian bank receives the NEFT credit before 2 PM, the wire transfer from Canada is usually initiated on the same day. You'll receive a SWIFT copy of the transfer confirmation that day, and the beneficiary should get the credit in their Canadian bank account within 48 business hours. Remember, Saturdays, Sundays, and any other bank holidays could delay the process.

If you are an Indian Resident, you can transfer to Canada a maximum of USD 2,50,000 equivalent in CAD per financial year from your Savings Account.

If you are a Non-Resident Indian (NRI), the maximum amount of money you can send to Canada from India depends on the type of your bank account.

• NRO Account - USD 1 million equivalent in CAD per financial year.
• NRE Account - No limit to repatriation.

If the processing bank in India gets the NEFT credit of the funds before 2 PM, wire transfer to the USA will be initiated on the same day. You will get the SWIFT copy of the transfer on the same day. The beneficiary will get the funds in the US Bank account within the next 48 working hours. Please note that all Saturdays, Sundays, and any US holidays will be international wire transfer holidays and fund transfers will be delayed. For example, a wire transfer initiated on Friday could take up to 4 days including Saturday and Sunday holidays.