Whatever your reason to transfer money to Canada from India be it for studies or for maintenance of a relative or for medical tourism, BookMyForex will make the whole transfer money to Canada process easy and smooth. Not only that, whenever you send money from India, we offer you best rates, better than anyone else in the Indian forex market. Canada is a North American country stretching from the U.S. in the south to the Arctic Circle in the north. Major cities include massive Toronto, west coast film centre Vancouver, French-speaking Montréal and Québec City, and capital city Ottawa. Canada's vast swaths of wilderness include lake-filled Banff National Park in the Rocky Mountains. It's also home to Niagara Falls, a famous group of massive waterfalls.

A lot of Indians have settled in Canada and it is often referred to as mini-Punjab. The flow of money between India and Canada is huge. Canada also attracts a significant number of Indian students which means a lot of the Indian students or their parents have to transfer money to Canada from India. So if you're looking for best rates, faster transfer and excellent customer support, we at BookMyForex.com will help you to send money online to Canada.

Ways to Send Money to Canada from India:

You have two ways to transfer money to Canada from India:

1: Wire Transfer Online To Canada (Swift Transfers)

2: Demand Drafts (money orders)

What is a Wire Transfer?

Wire-transfer is the easiest and best way to transfer money to Canada from India. Though wire transfers to Canada are actually done by banks, it is cheaper to use the services of companies since like BookMyForex. These online marketplaces will get you a better rate than banks. However, wire-transfers can be expensive. As Banks in India charge anywhere from Rs. 500 to Rs. 1000 to process it. Moreover, most foreign banks that receive the money also charge a foreign correspondent fee ranging from CAD 10 to CAD 40. But at BookMyForex, we charge Zero commission or margins when you do a wire transfer online to Canada. Send Canadian Dollars with us for no additional cost to you.

What is a Foreign Currency Demand Draft?

You can send money to Canada through foreign currency demand drafts. Demand Drafts are physical paper drafts, issued in a specific foreign currency instead of a sending to a specific recipient. Demand drafts are much cheaper than doing a wire-transfer from India to Canada. You have to pay just the demand draft fee to your bank or service provider. There is no need to pay any fee to the foreign bank receiving the money. This helps you save a lot of money.

However, the problem with demand drafts is that the process takes much longer to transfer money to Canada. It can take longer for the recipient to receive the money because you have to mail the demand draft physically. Once they receive it, it takes few days to en-cash the demand draft. The total number of days combined creates a large gap (maximum up to 10 days) in actually receiving the funds. So demand drafts work out better if there is no emergency. If you need to transfer money to Canada on a planned basis with sufficient notice, use demand drafts. But if you want a faster method then you should do an online wire transfer from India to Australia.

How much money can be sent to Canada from India?

According to RBI’s LRS policy Indians can send up to $2,50,000 or its equivalent per year per person abroad to Canada.

What are the purposes under which you can Transfer money to Canada from India?

You can send money online to Canada from India for the following 8 reasons:

1: Studies abroad2: Business Trip3: Medical Treatment Abroad4: Maintenance of close relatives abroad5: Emigration6: Going Abroad on Employment7: Gift or Donation8: Private Visits abroad