Send Money from India to Canada with BookMyForex
BookMyForex makes the entire money transfer to Canada as easy and seamless as possible, regardless of whether you are transferring money for studies, maintenance of a relative, or medical reasons. Not only that, whenever you send money from India to Canada, we offer you the 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 from India to Canada. So if you're looking for best rates, faster transfer and excellent customer support, we at BookMyForex.com will help you. BookMyForex platform offers low-cost remittance to Canada while being entirely paperless and online.
Ways to Send Money from India to Canada:
You have two ways to transfer money to Canada:
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 remit money to Canada from India. Though wire transfers are actually done by banks, it is cheaper to use the services of companies 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 them. 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 a minimal transfer fees when you do a wire transfer to Canada. Send Canadian Dollars with us at no additional cost to you.
What is a Foreign Currency Demand Draft?
Typically, demand drafts are physical paper drafts issued in foreign currencies. It is another convenient way to transfer money from India to Canada. The one thing to keep in mind is that transferring money to Canada through demand drafts is in fact a much more time-consuming process. A wire transfer, on the other hand, only takes 12 to 48 hours to complete.
How to Transfer Money from India to Canada?
Bookmyforex is India's leading online platform where you can do secure and easy wire transfers from India to Canada. All you need to do is open our website and follow a few steps after which you will be able to send money instantly to your loved ones. If you wish to send money to Canada through our website, please follow the steps below:
Step 1: An outward remittance requires you to choose your city, and the country to which you want to send money, and then enter the amount to send. You can proceed by clicking the "Book this Order" button.
Step 2: Following that, you are required to validate the remitter's details via Aadhar card and PAN card.
Step 3: The next step is to specify the purpose of your remittance and verify your eligibility.
Step 4: You will have to then upload the minimum set of documents such as the remitter's photo cum address proof. This can be a valid passport, Aadhar card, or voter card, plus some other valid documents based on the purpose of remittance.
Step 5: To proceed further, the beneficiary's details should be entered including name, address, bank name, routing number, bank address, account number and Swift code. Following that, the funds can now be transferred online from the remitter’s savings bank account.
Step 6: On your screen, you'll see a declaration page that you must agree to. In order to confirm your consent, you must enter the OTP sent to your mobile number and email address.
Step 7: Before proceeding, make sure you have reviewed the order details. Payments can then be made using NEFT/RTGS or Net Banking.
Step 8: You will receive an Order Confirmation summary. All you need to do now is check the remittance application form sent to your registered email address and submit it to us digitally. A SWIFT acknowledgement will be sent to you once the remittance has been processed by the partner bank.
If you are looking for the lowest rates and the most reliable services for wire transfers, BookMyForex is the right platform for you. Our mobile app is another convenient option for transferring money via BookMyForex. The following steps will help you transfer money from India to Canada using BookMyForex's mobile App:
Step 1: To make an international money transfer, simply go to the mobile app and click on International money transfer. Select your city, and the country to which you are transferring money, and then enter the amount you want to send. To proceed, click the "Book this Order" button.
Step 2: Next, you need to validate the remitter's details.
Step 3: The next step is to specify the purpose of your remittance and verify your eligibility.
Step 4: Following that, you are required to upload the minimal set of documents such as the Remitter’s photo cum address proof which can either be a valid passport, Aadhar card or Voter card along with some other valid documents basis the purpose of the remittance.
Step 5: The beneficiary's details should be entered including name, address, bank name, routing number, bank address, account number and Swift code. After this, the funds can now be transferred online from the remitter’s savings bank account.
Step 6: Select your location to process your order
Step 7: Review your order details, then you can proceed to make a payment through NEFT/RTGS or Net banking.
Step 8: You will receive the Order Confirmation summary. All you need to do now is to check the Remittance Application form sent to your registered email address and submit it to us digitally. A SWIFT acknowledgement will be provided to you once the remittance to Canada has been processed by the partner bank.
Benefits of choosing a fully online remittance process on BookMyForex?
Online Booking Process:
Money transfers abroad through a bank are not easy. However, with BookMyForex, it is relatively simple. We offer a quick booking process, which is our biggest advantage. Wire transfers to Canada can be booked online in five minutes. You only need to follow a few simple and easy steps, and you're good to go.
Most Affordable Services:
With BookMyForex, you will get the most affordable rates on wire transfers along with the best level of service. It is most likely that your bank will charge you a lot more than BookMyForex does when it comes to money transfers. When you book a remittance order online through BookMyForex, you will be able to save up to 2-3% on transfer charges.
Book Now Pay Later Option:
Using the "Book Now and Pay Later" feature, customers can lock rates for up to 3 days by making a refundable deposit of 2%. This feature is a great example of how we are committed to innovation and providing a great customer service experience. When currency rates are volatile, the Book Now Pay Later option can be especially useful.
Fastest Method of Money Transfer:
There is no doubt that wire transfer is the fastest and most secure method of transferring money from India to Canada. Wire transfers through BookMyForex are a much better choice than demand drafts if you are sending money in an emergency. In most cases, transfers are processed within 12 to 48 working hours of receiving the funds and documents.
24*7 Booking Options Available:
We display 24*7 live and transparent transfer rates so that you can place your order whenever it's convenient for you, regardless of the time of day. You can also get in touch with our customer support team by phone or by email if you have questions about a wire transfer to Canada.
Send Money to 150+ Countries:
There has been a significant improvement in the ease of transferring funds from India to foreign countries in recent years. With BookMyForex, you will be able to transfer funds to more than 150 countries including Canada at live exchange rates and at a very low cost. Instead of going to the bank, you can remit money online from the comfort of your own home.
Discounts Available for Students:
As a customer-focused company, BookMyForex understands that many students studying abroad have to submit their tuition fees. We offer students studying abroad exclusive discounts and cashback when they transfer tuition fees via wire transfer to Canada under the "BookMyForex Student Offer".
Best & Reliable Services:
We strongly believe in providing our customers with a secure, seamless and hassle-free experience at BookMyForex. We only work with trusted and authorized banks for the processing of remittances. With more than three lac customers, we aim to provide a complete level of transparency, fast service, and total peace of mind to our customers.
Factors to consider when sending money from India to Canada
1) If you are looking to remit money to Canada, it is best to choose a service provider that offers transparent rates and processes remittances only through authorized banks. With BookMyForex, customers can send money from India to Canada at affordable and transparent rates. There is no risk involved in the remittance process because payments are made only through trusted banks in India.
2) A transfer fee will be charged when sending money from India to Canada. There is a minimal transfer fee of Rs. 225 + GST when transferring money through BookMyForex. In addition, if your transfers exceed Rs. 7 lakhs in a financial year, TCS will have to be paid (if applicable).
3) Whenever you send money to Canada, you should choose a platform with excellent customer service. Whether you have a question or concern, BookMyForex's customer service team is available via email, chat, or phone. Our team can guide you through the whole money transfer process or assist you if you encounter any problems.
4) Exchange rates are another important factor to consider. With BookMyForex, you can send money to more than 150 countries, including Canada, at live exchange rates. In general, BookMyForex offers the best exchange rate for money transfers between India and Canada.
