ExTravelMoney India's biggest forex marketplace!

THE CHEAPEST WAY TO TRANSFER MONEY FROM INDIA TO CANADA!
COMPARE RATES & BOOK YOUR WIRE TRANSFER ONLINE


Please enter valid amount

(approx)

Send money from India to Canada the easy way. Get instant quotes from RBI authorized exchange houses and banks next to you. Compare rates & book your wire transfer online. Credit to beneficiary in 48 working hours!

And More..

Buy Forex Card at ZERO markup rates!

Get exact live exchange rates!

Hot Deal.

1 lucky winner to get Huawei Watch GT smartwatch worth ₹21,990

  • I got to know about extravelmoney.com from a friend of mine. The transaction was really simple, fast & flawless. I was impressed with their ability to meet my need, so quickly.

    - Louis T. Cherian, Bangalore

  • Complete process was very hassle free, right from choosing of exchange rate, confirmation of order and receiving money. I am sure I wouldn`t have got this exchange rate and service quality if I directly walked in to anyone of the forex vendors

    - M Aditya Karan, Hyderabad

  • The entire experience was really smooth. I selected selected a vendor who would do door delivery. Got a quote instantly and the currency delivered in few hours. Will highly recommend this service.

    - Pradeep Govindaraju, Chennai

  • I opted for extravelmoney after doing a lot of research and visiting the banks where I have my accounts. The rates are undoubtedly the best in market and the process is absolutely hassle free.

    - Peter Anand Shah, Hyderabad

  • I have used their services twice and it was a hassle free experience. I would definitely recommend to anyone who needs forex.

    - Shiva Kumar, Bangalore

  • Highly delighted. Best exchange rates and good back up support. Overall, an awesome experience. One hundred percent recommended. Hope to deal with them again.

    - Ghouse Syed, Hyderabad

  • It came as a savior to me. The biggest challenge was to find a place nearby that would do it hassle-free at a reasonable price. Extravelmoney helped a great deal with that.

    - Swati Saxena Saxena, New Delhi

  • Extravelmoney.com is a real pain killer for someone travelling abroad for the first time. Awesome service and very very fast response.

    - Manish Kumar, Bangalore

Send Money from India to Canada Easily!

Get Quotes

Enter the amount in CAD & get quotes from nearest banks & exchange houses instantly

Book Online

Compare the quotes, choose one and book your order for money transfer from India to Canada

Transfer Funds

Submit KYC & transfer funds as NEFT/RTGS directly to the RBI authorized exchange house.

Collect Bill

Yes, all done! The wire transfer will be initiated the same day & you can collect the SWIFT copy!

How it Works?

Featured in

“...ExTravelMoney has tied up with forex dealers and banks. Through 4000 stores of these partners, it could access the national market....”

“...competition among the different forex providers in the platform leads to better deals for the customers...”

“...ExTravelMoney is fast becoming the single-stop point for travellers, students, and business people travelling abroad...”

ExTravelMoney Is Rated 4.8 Stars by Trustpilot Based On Over 258 Reviews

The cheapest rates for wire transfer to Canada from India

  Marketplace Edge!

Being a marketplace for remittance services, every exchange house here tries to outbid others. They always compromise on the margins, so that they get the deal. Result, you get the best rate for Canadian Dollar available in the market!

  Zero Commission!

We charge absolutely zero commission on every transaction. No hidden charges either! Pay directly to the chosen exchange house from your bank account, get it transferred to beneficiary account in Canada and receive bill for the entire amount.

  Forecast & Freeze

Canadian Dollar rates can fluctuate dramatically and even the slightest variations will have considerable impact. With Extravelmoney, you can observe, forecast and freeze the rate when it is favorable. The rate will be valid for the entire day.

How to Transfer Money from India to Canada?

Money Transfer from India to Canada can be done in 4 simple steps.

  • 1. Enter the amount in Canadian Dollars, choose the purpose of remittance and click on 'get rates'.
  • 2. Compare the exchange rates from nearest RBI approved exchange houses, choose any and book online.
  • 3. You can now share the required KYC documents for verification. Once verified, transfer the amount to the chosen exchange house via NEFT/RTGS.
  • 4. Wire transfer will be initiated as soon as the amount is credited. The money should be credited in the beneficiary account within 48 working hours.

Modes for Outward Remittance from India to Canada

  • Wire Transfer/ Telegraphic Transfer (TT)

  • Foreign Currency Demand Draft (DD)

What is wire transfer?

Wire Transfer (TT Transfer/SWIFT Transfer) is an electronic mode of fund transfer (through SWIFT), with which you can transfer money from your Indian Bank account to an overseas bank account. Indian Banks and RBI approved Authorized Dealers has arrangements with over 400+ major banks across the globe to receive SWIFT messages which ensures safe and secure outward remittance from India. Account holders of any Bank in India (resident and non-resident) can do a wire transfer from India.

What is a foreign currency Demand Draft?

A Foreign Currency Demand Draft is another facility for making international money transfer for educational payments, medical fees, VISA fees or migrating to other countries etc. Demand drafts are a safe option for making international money transfer as it is made 'favouring' the beneficiary. DDs can be reissued if lost or stolen.

Main Purposes of Sending Money to Canada from India

  • Tuition Fee Payments to Universities or Colleges in Canada
  • Living Expenses of Indian Students in Canada
  • Money Transfers 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 gift to a Canadian resident
  • Fee for participation in conferences or training
  • Emigration Consultancy Fee

Documents Required for Wire Transfer from India to Canada

Any of these documents can be required depending on the purpose of remittance.

  • Govt issued photo ID proof of the sender (Passport/Voter’s ID/Aadhar Card)
  • PAN card copy of the sender
  • Filled A2 Form cum declaration with signed by the sender
  • Purpose proof (University letter/Prospectus) stating the amount to be transferred and account details (for tuition fee payments only)
  • Beneficiary passport copy (for maintenance of close relative & gift remittance only)
  • GIC account opening letter (only for sending money to GIC account)

Beneficiary details to be shared:

  • 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 though Tied-up Reserve Bank of India approved Authorized Dealers only. All foreign exchange transactions are subjected to AML/CFT/KYC & FEMA policies instructed by Reserve Bank of India.

Frequently Asked Questions on Sending Money to Canada


1. How much money can be transferred from India to Canada?

A Resident Indian is allowed to transfer up to USD 2,50,000 equivalent in Canadian Dollars from India to Canada. The money can only be transferred for some specific purposes such as study abroad, maintenance expenses abroad, medical expenses abroad etc under the FEMA and LRS scheme of RBI.

2. How long does a wire transfer take from India to Canada?

Upon initiating a wire transfer from India to Canada, one can expect the funds to be credited to the beneficiary account in Canada within 48 working hours. Sometimes this process is even faster and funds are sent within 24 hours itself.

3. What is a GIC account in Canada for International students?

GIC means Guaranteed Investment Certificate. A GIC is an investment account. Students would have to deposit a fixed amount of money in this account (Usually CAD 10,200). This money is treated as proof of funds and would be released to the student every month for 12 months for their study abroad and maintenance expenses along with interest.

4. Can ExTravelMoney transfer money to GIC account in Canada from India?

Yes, ExTravelMoney can transfer money from Indian bank account to GIC account in Canada. We regularly facilitate such transactions for Indian students going to study abroad in Canada and are well versed

5. What are the various permissible purposes of money transfer from India to Canada?

The various permissible purposes for transferring money from India to Canada include study abroad in Canada, medical treatment, employment in Canada, Emigration, maintenance of close relatives and private travel to Canada. Also any resident Indian may remit up to CAD 3,25,000 as a gift to a person residing in Canada.


Find More