Send Money from India to Canada

Book Online

Compare bids from your nearest exchange houses & banks and book online

Verify KYC

Get the required KYC documents verified at home or at the nearest branch

Transfer Funds

Transfer the funds to the exchange house/bank's account as NEFT/RTGS

Get Credit!

The transfer will now be initiated and beneficiary will receive credit in 48 working hours!

In The Press

“...Travelers can compare the rates of various dealers in their city and get forex delivered...”

“...Extravelmoney ensures a smooth experience for customers while transferring money abroad..."

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

Why Send Money to Canada via ExTravelMoney?

Lowest CAD Rates

Being a Forex marketplace, every exchange house here tries to outbid others. Result, you get the best CAD exchange rate in the market!

Fast Processing

We understand your commitments and that is why we strive to initiate every wire transfer, the same day of receiving the funds.

Zero Commission!

We charge absolutely zero commission on every transaction. No hidden charges either! Pay directly to the chosen exchange house or bank.

Personal Advisor

You will have a dedicated personal advisor who will guide you throughout the process. Get accurate information and guidance on KYC, TCS and everything else.

Sending Money from India to Canada, Things to Know

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

Enter the amount in Canadian Dollars, choose the purpose of remittance and click on 'get rates'.
Compare the exchange rates from nearest RBI approved exchange houses, choose any and book online.
You can now share the required KYC documents for verification. Once verified, transfer the amount to the chosen exchange house via NEFT/RTGS.
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

Canada University Fee Payment
Living Expenses of Indian Students 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 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.

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