Send Money to Canada from India

What each bank charges to send CAD to Canada

Line items reflect the bank's published fee schedule. GST at 18% is charged on commission (and on Swift / correspondent charges where the bank explicitly applies it).

How to send money to Canada from India

1. Get the beneficiary's bank details. Full name and address as held by their bank, bank name and address in Canada, plus the transit number, institution number, account, and SWIFT code.
2. Pick the purpose code and fill Form A2. The A2 form is the LRS declaration; the most common codes for Canada are S0202 (education), S1301 (gift), S0305 (maintenance of relative). Your PAN is mandatory and the bank checks your LRS usage for the financial year against the USD 250,000 cap.
3. Check TCS before you send. Above ₹10 lakh in a financial year most non-education purposes attract 20% TCS, collected by the bank and claimable in your ITR; education and medical purposes have lower rates. The calculator on this page applies it when you enter your year-to-date LRS amount.
4. Choose the channel. HDFC, ICICI, Kotak and Axis accept outward remittance in CAD through NetBanking or their apps; SBI routes select currencies through YONO and the rest through a branch; IOB is branch-led. Branch channels usually cost more — the bank pages list the difference.
5. Decide who pays the SWIFT and correspondent charges. OUR means you pay them upfront in rupees and the beneficiary gets the full amount; SHA and BEN shift them downstream, where they are deducted from what arrives. SBI's Payee, Remitter and Guaranteed modes are the same choice under different names.
6. The bank applies the TT Selling rate and its charges. Your INR is converted at the bank's published TT Selling rate for CAD at the moment of debit, then commission, SWIFT / correspondent charges and 18% GST are added — exactly the lines shown above.
7. Track it and expect 1–3 working days. Ask the bank for the SWIFT reference (UETR) so the beneficiary's bank can trace the payment. Canada spans 8.5–13.5 hours behind IST; a morning IST transfer usually reaches the Canadian bank on the same Canadian business day.

LRS cap: USD 250,000 per resident per financial year (across all corridors combined). TCS at 20% applies above ₹10 lakh per year for most non-education purposes and is claimable in your ITR.

Sending to Canada: what's different

Canada's corridor is student-heavy — the Guaranteed Investment Certificate (GIC) many study-permit applicants buy as proof of funds, tuition deposits and living expenses — plus family support to a large diaspora.

On the receiving side

• 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.

About CAD

CAD is one of the five "home corridor" currencies at ICICI (₹1,000 commission instead of ₹750) and carries a CAD-denominated correspondent charge at SBI; the bank pages list the CAD-specific lines.

Timing

Canada spans 8.5–13.5 hours behind IST; a morning IST transfer usually reaches the Canadian bank on the same Canadian business day.

FAQ — Sending money to Canada from India