It is an important task for many expatriate Indian or Bangladeshi citizens to work abroad to send money to another by working in one country. Especially for those who want to Send Money from Canada to India, they have the main thoughts — how to send money to safely, fast and best Exchange rate. In this blog we will discuss in detail how you can make Send Money from Canada to India easily and at low cost.

Why is the exchange rate important?

One of the most important things when sending money is the Currency Conversion Rate. If you convert 1 Canadian dollar into Indian rupees, the rate will depend on the current global currency market. Many companies add their own margin to the Exchange Rate somewhat, so that they can make extra profit.

So whenever you do Send Money from Canada to India, you must take care which medium is giving you the best rate.

How to send money — popular method

There are some popular mediums to send money from Canada to India:

• Wise (previously known as transferwise)
• Traditional Bank Transfers (eg: RBC, TD Bank)
• Western Union or Moneygram
• Cryptocurrency (though it is not commonly recommended)
• Forex Companies or Currency brokers

We will now discuss these methods in detail.

Sending money through wise

Wise is currently a very popular fintech company worldwide, which provides international money transfer services at affordable prices and rapidly. Send Money from Canada to India Wise can be the best choice at times.

Wise’s advantages:

• Real-time currency conversion
• There is no hidden charge
• Fees relatively less transfer
• Safe and trackable transfer
• The money is deposited directly to the bank account

READ MORE..