If you send money from Canada to family in India, the fee you see is only half the cost. The other half is hidden in the exchange rate. This guide explains how the main options compare, what to check before you hit send, and how to get more rupees for every dollar.
Quick answer: for most everyday transfers, an online transfer service such as Wise or Remitly usually delivers more rupees than a traditional bank wire, because banks typically charge a flat wire fee and add a margin to the exchange rate. Always compare the final amount in INR your family will receive, not just the fee.
What sending money to India actually costs
Every transfer has up to three costs:
- Transfer fee — the fee the provider shows you up front.
- Exchange-rate margin — the difference between the real (mid-market) CAD-to-INR rate and the rate you get. A 2% margin on $1,000 costs you about $20, even when the “fee” is zero.
- Receiving or intermediary fees — some bank wires lose a little more on the way, deducted by a middle or receiving bank.
Canadian banks vs. online transfer services
| Option | How you are charged | Watch out for |
|---|---|---|
| Big-bank wire (e.g. RBC, CIBC) | Flat outgoing wire fee (Wise’s December 2025 guide lists RBC at $45 and CIBC from $30) plus an exchange-rate margin | Margins are often not shown clearly; receiving-bank fees can apply |
| Wise | A percentage fee (from about 0.48% for CAD to INR, per Wise) and the mid-market exchange rate | Fee rises with the amount; conversion can take up to two days |
| Remitly | Small flat fee on smaller transfers (Wise reported $1.99 under $500) and Remitly’s own exchange rate | Promotional rates are usually for first transfers only; Express costs more than Economy |
Fees and rates change often. The figures above come from published comparisons and provider pages and are only a guide. Check the live quote before you send.
How to get the most rupees: a 5-step checklist
- Compare the amount received. Enter the same CAD amount in two or three services and compare the INR your recipient gets.
- Don’t be fooled by “zero fee”. A no-fee transfer can still carry a bigger exchange-rate margin.
- Pick the right speed. If the money isn’t urgent, slower “economy” options can be cheaper.
- Pay by bank or Interac e-Transfer. Card payments, especially credit cards, often cost more and may count as a cash advance.
- Send fewer, larger transfers. Flat fees hurt most on small amounts.
Delivery options in India
Most services can deposit straight to an Indian bank account (you will need the account number and IFSC code). Some also offer UPI, cash pickup or mobile-wallet delivery, which can help when relatives don’t have easy access to a bank.
Good to know
- Have ID ready. Licensed transfer services must verify your identity, so your first transfer may take longer.
- Large amounts. For property or big family gifts, ask about lower rates on large transfers and keep records of the source of funds.
- Taxes. Rules on gifts and income can differ between Canada and India. For large or regular transfers, speak to a tax professional.
Want to know when rates move in your favour? Our weekly email includes a money-transfer check, and you can see current offers on our money transfer deals page.
imdesi is not a financial advisor. This guide is general information, not financial advice. Some links are affiliate links; see our disclosure.
Sources
- Wise — fees for sending money from Canada to India (Dec 2025)
- Wise — Wise vs Remitly fees in Canada (Sept 2025)
Frequently asked questions
What is the cheapest way to send money to India from Canada?
For most everyday amounts, an online transfer service such as Wise or Remitly usually delivers more rupees than a bank wire, because banks tend to charge a flat wire fee and add a larger margin to the exchange rate. Compare the final amount in INR your family receives, not just the fee.
Why does the exchange rate matter more than the transfer fee?
The fee is only part of the cost. Providers also add a margin to the CAD-to-INR rate. A 2% margin on $1,000 costs about $20 even when the advertised fee is zero, so the total amount received is the number to compare.
How long does a transfer from Canada to India take?
It depends on the provider and payment method. Online services often deliver within minutes to a business day for bank deposits in India, while traditional bank wires can take a few business days. Check the delivery estimate before you send.
What do I need to send money to India from Canada?
Usually a verified account with the provider (photo ID and address), the recipient’s name, Indian bank account number and IFSC code, or a UPI ID if the provider supports it.
