There are several ways to send money from Canada to India, including bank-to-bank transfers, online money transfer services, and mobile money transfer apps. Here are some things to consider when choosing a method:

Fees

Compare the fees charged by different banks and money transfer services to find the option that offers the best value. Some banks may charge high fees for international wire transfers, while online money transfer services and mobile apps may have lower or no fees.

Exchange rates

Consider the exchange rate offered by different banks and money transfer services. The exchange rate determines how much money the recipient will receive in Indian rupees, so it’s important to get the best rate possible.

Speed

Consider how quickly you need the money to be transferred. Some banks and money transfer services may take longer to process international transfers than others.

Convenience

Think about whether you prefer to send money online or in person, and whether you need to transfer large or small amounts. Some banks and money transfer services may be more convenient for certain types of transfers.

Sending money without incurring fees

There are several ways to transfer money from Canada to India without incurring fees. Some options to consider include:

Bank-to-bank transfer

Many banks offer free or low-cost international wire transfers, which can be a convenient way to send money from Canada to India. To make a bank-to-bank transfer, you will need to provide your bank with the necessary information about the recipient’s bank account, such as the account number, routing number, and the name and address of the bank.

Online money transfer service

There are several online money transfer services that allow you to send money from Canada to India without incurring fees. Some popular options include TransferWise, Remitly, and Xoom. These services typically offer competitive exchange rates and allow you to send money quickly and securely.

Mobile money transfer app

There are also several mobile apps that allow you to send money internationally, including Venmo, PayPal, and Cash App. These apps are usually free or have low fees, and they allow you to transfer money from your phone or tablet.

Conclusion

It’s worth noting that while these options may not charge fees for the transfer itself, you may still incur currency exchange fees if you are converting Canadian dollars to Indian rupees. To get the best exchange rate, it’s a good idea to compare the rates offered by different banks and money transfer services before making a decision.