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Sending money from Canada to India

Which provider, how to pay it, and what Canada wants to know about your money in India.

Our top picks for CAD to INR

Ranked by total cost (exchange-rate margin + fees), delivery speed, and NRE/NRO support

Rates & fees auto-refreshed 5 October 2026 · Picks last verified July 2026 · Ratings follow our rating methodology. We may earn a commission from partner links — how we make money.

Best overall

Wise

4.5

The mid-market rate with the fee shown upfront, Interac funding, and IMPS delivery straight into NRE accounts.

Pros

  • Mid-market exchange rate, no markup
  • Interac funding — fast and free
  • IMPS delivery, often within minutes
  • Direct deposit to NRE accounts

Cons

  • Fee rises with card funding — use Interac
  • Not always cheapest above CAD 10,000
Remit with Wise

Transparent fees and rates

Read our full review
Best for speed & first transfer

Remitly

4

Zero transfer fee on the CAD corridor, Express delivery in minutes, and new-customer promotional rates for a first transfer.

Pros

  • No transfer fee on CAD-INR
  • Express delivery in minutes
  • Strong first-transfer promo rates

Cons

  • Standard rate margin higher than Wise
  • Promo rates end after early transfers
Read our full review
Best for ICICI account holders

ICICI Money2India

4

A C$4 flat fee and same-day NEFT settlement into your own ICICI NRE/NRO account make it the default for ICICI customers.

Pros

  • Seamless into ICICI NRE/NRO accounts
  • Low flat fee regardless of amount
  • Established, RBI-regulated route

Cons

  • Best experience limited to ICICI customers
  • Slower than IMPS-based fintechs
Read our full review
Best for large transfers

OFX

3.5

No transfer fee above CAD 10,000 and margins that improve with size make OFX competitive for CAD 5,000+ transfers.

Pros

  • No fee on large transfers
  • Rates negotiable on large amounts
  • Phone support for big transfers

Cons

  • SWIFT settlement takes 1-2 days
  • Not the cheapest for small amounts

CAD to INR providers compared

India-side settlement, NRE support, and receiving bank fees

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Use Interac e-Transfer for funding — fastest and cheapest from Canadian banks. Credit card funding adds 1-3% on top.

NRIWallah team

Updated September 2026

Canadian bank wires to India are expensive, and most of the cost is in the exchange rate rather than the fee. Online providers funded by Interac cost far less, and choosing between them is mostly a question of how much you send.

Where the cost hides

Every transfer carries a fee, shown up front, and a margin, which is the gap between the mid-market rate and the rate you are given. Canadian banks tend to charge a flat wire fee and a wider margin on INR. Compare the rupees credited for the same dollar amount; our INR converter shows the live mid-market rate to measure against.

How to pay the provider

Interac is usually the best way to fund a transfer: it is quick, usually free, and most online providers accept it. Bank debit is similar but slower to clear. Credit card funding is fast but adds a surcharge. For a very large, one-off transfer such as a property payment, ask your bank’s foreign-exchange desk for a quote too; banks sometimes negotiate on large amounts.

Choosing a provider

The picks above rank providers on total cost, speed and support for NRE accounts. Wise gives the mid-market rate and shows its fee up front; see our Wise review . Remitly is quickest on its Express tier and often cheapest for a first transfer. ICICI Money2India is worth checking if your NRE or NRO account is with ICICI. OFX competes on larger amounts.

Reporting what you hold in India

Money you send from Canada belongs in an NRE account, where the interest is free of Indian tax. Canada still taxes it, along with all your other Indian income, if you are Canadian resident. Our NRI banking guide explains NRE and NRO accounts.

As your Indian balances grow, watch Form T1135. If the total cost of your property abroad, including NRE and NRO balances, fixed deposits, PPF and mutual funds, exceeds CAD 100,000 at any point in the year, you must file it. Late filing costs CAD 25 a day, up to CAD 2,500 a year. Our Canada tax guide explains the form, and the Canada NRI hub covers RRSP and TFSA limits for 2026.

Rates and fees change often, so compare current figures before you transfer. NRIWallah may earn a commission from partner links; see how we make money . How providers are rated is set out in our methodology .

Common questions

An online provider funded by Interac or bank debit is usually far cheaper than a Canadian bank wire. The cheapest provider depends on the amount, so compare the rupees your family will receive for the same number of dollars; the table above does that.
Not directly, because Interac e-Transfer only works between Canadian accounts. But many remittance providers let you pay them by Interac: you set up the transfer on the provider’s site or app, then pay by Interac from your bank. It is usually the quickest and cheapest way to fund a transfer.
International transfers of CAD 10,000 or more are reported to FINTRAC, Canada’s financial intelligence agency, by your bank or provider. That is routine and not a tax. Sending your own money abroad is not taxable in Canada, and Canada has no gift tax.

Every rate and threshold here is sourced, dated and shown on the page — but tax rules change, and we would rather be told than be wrong. Reports go to the team that maintains the tool. If you can point at the official source, that gets it fixed fastest.

No account needed. We don't publish your email or add you to anything.

Prefer email? admin@nriwallah.com. How we source and review these numbers is set out in our methodology.

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