ICICI Bank · India → Canada
ICICI Bank to Canada: what it actually costs to send CAD from India
At ₹1,00,000, ICICI Bank charges ₹1,360 — the 3rd-cheapest of 6 banks for CAD. Indian Overseas Bank is ₹295 cheaper.
Last updated 9 Oct 2026
Fee breakdown
- Commission ₹1,000
- GST Commission ₹180
- GST Exchange ₹180
- Total at ₹1,00,000₹1,360
CAD rate trend at ICICI Bank
Today ICICI Bank sells CAD at ₹69.9400 (TT Selling) and buys it at ₹66.2600 (TT Buying). The selling rate is +0.7300 (+1.05%) since 2 Oct and −0.4500 (−0.64%) since 1 Sep.
- 30-day TT Selling range: ₹69.2100 – ₹71.0700 across 15 refreshes.
- ₹1,00,000 bought between 1407.06 and 1444.88 CAD over that window, before charges.
What's specific to CAD at ICICI Bank
- Outward Remittance Commission: ₹1,000 for CAD — ICICI Bank prices USD, GBP, EUR, AUD, CAD at this level and every other currency at ₹750.
Receiving in Canada
- Canadian accounts use a 5-digit transit number, a 3-digit institution number and the account number; the SWIFT/BIC code routes the wire. Give all three — the wire is rejected or delayed if any is missing.
- A GIC is funded through a designated Canadian bank's program (Scotiabank, CIBC, ICICI Bank Canada, SBI Canada and others); each publishes its own wiring instructions and a fixed CAD amount — wire in CAD so the credited amount matches after fees.
- Canadian banks commonly charge the recipient an incoming wire fee, often around CAD 15–18; check the beneficiary's account tariff.
Canada spans 8.5–13.5 hours behind IST; a morning IST transfer usually reaches the Canadian bank on the same Canadian business day.
How this compares
Indian Overseas Bank is ₹295 cheaper than ICICI Bank for sending CAD to Canada.
See the full side-by-side →ICICI Bank — Things to know
Applies to:Sending money abroad through ICICI NetBanking or iMobile as a Resident Individual. Branch and NRI cases aren't modelled here.
- Home corridors cost ₹1,000 — with guaranteed delivery. Since 1 Apr 2026, USD→USA, GBP→UK, EUR→Eurozone, AUD→Australia and CAD→Canada carry a ₹1,000 commission that ICICI labels 'Full Value Credit (Guaranteed Delivery)': no intermediary deductions, the full amount reaches the beneficiary bank. Every other route is ₹750 and non-guaranteed.↗
- ₹750 routes can lose money in transit. On the ₹750 non-guaranteed routes ICICI's charges don't include intermediary or correspondent bank fees — those banks can deduct their own charges from what the recipient receives, and ICICI publishes no amount for them.↗
- Branch costs more. At a branch the ₹750 routes cost ₹1,000 and USD→USA costs ₹1,500 (vs ₹1,000 online); the other four home corridors are ₹1,000 either way.↗
- GST is charged twice. GST applies to both the commission and the currency conversion (a slab), so your total GST is more than 18% of the commission alone.↗
- TCS on large transfers. For general purposes, 20% TCS applies on LRS spending above ₹10 lakh a year — refundable as a tax credit at ITR time.
- Skip the branch. Use NetBanking or iMobile instead of a branch: ₹250 cheaper on most routes and ₹500 cheaper for USD→USA.
- Compare the ₹1,000 with other banks' OUR totals. On the five home corridors the extra ₹250 buys guaranteed full-value delivery, so weigh it against other banks' commission plus correspondent charge — not their base commission alone.
▸Show 1 more note
Other things to know
- Card-rate cap. Card rates cover up to USD 25,000 per request and are indicative — the rate at debit time is what applies; above the cap, contact the branch or your RM.↗
FAQ — ICICI Bank to Canada
What is ICICI Bank's CAD rate today?
₹69.9400 per CAD is ICICI Bank's TT Selling rate today — the rate applied when you send — and ₹66.2600 is its TT Buying rate for money you receive. The selling rate is +0.7300 (+1.05%) since 2 Oct. The full sheet with a 90-day chart is on the ICICI Bank forex rates page.
How much does ICICI Bank charge to send CAD to Canada?
On a ₹1,00,000 outward remittance, ICICI Bank's all-in cost today is ₹1,360 — commission, SWIFT / correspondent charges and 18% GST included, computed at the bank's own TT Selling rate for CAD. The fee breakdown above shows every line item.
Is ICICI Bank the cheapest bank to send CAD to Canada?
No — Indian Overseas Bank is currently ₹295 cheaper than ICICI Bank for CAD to Canada at ₹1,00,000. ICICI Bank ranks 3rd of 6 banks in our coverage for this corridor.
How long does a ICICI Bank transfer to Canada take?
A standard SWIFT / TT outward remittance from ICICI Bank to a beneficiary in Canada typically settles in 1–3 working days, depending on correspondent-bank routing.
What do I need to send money to Canada with ICICI Bank?
You'll need PAN, a signed A2 form (LRS declaration) with a purpose code, the beneficiary's bank details in Canada, and proof of source of funds for larger amounts. TCS at 20% applies above ₹10 lakh per financial year for most non-education purposes and is claimable in your ITR.
Run your own numbers
TRANSFER
You pay in INR; recipient receives USD.
Used to determine if this transfer crosses the ₹10L TCS threshold.
Best deal: Indian Overseas Bank. You save ₹3,948.89 vs the most expensive.
TT Selling rate from Indian Overseas Bank's published forex sheet — edit to model a quoted rate.
BREAKDOWN
Outward remittance
Amount being sent $1,000.00 × ₹96.89 | ₹96,890.00 |
| Outward Remittance Commission (0.075%) | ₹250.00 |
| Swift Payment Message | ₹500.00 |
| GST on Commission + Swift (18%) | ₹135.00 |
| GST on Amount Exchanged | ₹174.40 |
| Total charges | ₹1,059.40 |
| Total payable (INR) | ₹97,949.40 |
- Amount being sent
- ₹96,890.00
- Outward Remittance Commission (0.075%)
- ₹250.00
- Swift Payment Message
- ₹500.00
- GST on Commission + Swift (18%)
- ₹135.00
- GST on Amount Exchanged
- ₹174.40
- Total charges
- ₹1,059.40
$1,000.00 × ₹96.89
Total payable (INR)
₹97,949.40
Indian Overseas Bank
₹97,949.40
Cheapest
TT Selling rate from Indian Overseas Bank's published forex sheet — edit to model a quoted rate.
- Amount being sent$1,000.00 × ₹96.89
- ₹96,890.00
- Outward Remittance Commission (0.075%)
- ₹250.00
- Swift Payment Message
- ₹500.00
- GST on Commission + Swift (18%)
- ₹135.00
- GST on Amount Exchanged
- ₹174.40
- Total charges
- ₹1,059.40
- Total payable (INR)
- ₹97,949.40
State Bank of India
₹98,282.54
+₹333.14 vs cheapest
TT Selling rate from State Bank of India's published forex sheet — edit to model a quoted rate.
- Amount being sent$1,000.00 × ₹97.05
- ₹97,050.00
- Branch Commission
- ₹970.50
- Correspondent Bank Charge (Remitter mode)
- ₹87.35
- GST on Amount Exchanged
- ₹174.69
- Total charges
- ₹1,232.54
- Total payable (INR)
- ₹98,282.54
ICICI Bank
₹99,466.60
+₹1,517.20 vs cheapest
TT Selling rate from ICICI Bank's published forex sheet — edit to model a quoted rate.
- Amount being sent$1,000.00 × ₹98.11
- ₹98,110.00
- Outward Remittance Commission
- ₹1,000.00
- GST on Commission (18%)
- ₹180.00
- GST on Amount Exchanged
- ₹176.60
- Total charges
- ₹1,356.60
- Total payable (INR)
- ₹99,466.60
Kotak Mahindra Bank
₹99,697.01
+₹1,747.61 vs cheapest
TT Selling rate from Kotak Mahindra Bank's published forex sheet — edit to model a quoted rate.
- Amount being sent$1,000.00 × ₹98.34
- ₹98,340.00
- Outward Remittance Commission (Online)
- ₹500.00
- Correspondent Bank Charge
- ₹500.00
- GST on Commission + Correspondent (18%)
- ₹180.00
- GST on Amount Exchanged
- ₹177.01
- Total charges
- ₹1,357.01
- Total payable (INR)
- ₹99,697.01
HDFC Bank
₹99,707.03
+₹1,757.63 vs cheapest
TT Selling rate from HDFC Bank's published forex sheet — edit to model a quoted rate.
- Amount being sent$1,000.00 × ₹98.35
- ₹98,350.00
- Outward Remittance Commission
- ₹1,000.00
- GST on Commission (18%)
- ₹180.00
- GST on Amount Exchanged
- ₹177.03
- Total charges
- ₹1,357.03
- Total payable (INR)
- ₹99,707.03
Axis Bank
₹1,01,898.29
+₹3,948.89 vs cheapest
TT Selling rate from Axis Bank's published forex sheet — edit to model a quoted rate.
- Amount being sent$1,000.00 × ₹98.45
- ₹98,450.00
- Remittance Commission
- ₹1,000.00
- Correspondent Bank Charge (OUR)
- ₹1,772.10
- GST on Commission + Correspondent (18%)
- ₹498.98
- GST on Amount Exchanged
- ₹177.21
- Total charges
- ₹3,448.29
- Total payable (INR)
- ₹1,01,898.29
TCS is refundable when you file your ITR — it's a tax credit, not a fee.
Want the full picture?
- ICICI Bank Bank: all remittance charges — every corridor ICICI Bank supports, side by side
- Send money to Canada from India — all 6 banks compared for CAD