Send Money to Canada

Canada has one of the largest Indian communities in the world, with nearly 1.9 million people of Indian origin calling it home. From Toronto and Vancouver to Calgary, Edmonton, and Brampton, often called Mini Punjab, Indians have built deep roots across the country over generations.

For many Indians, Canada is a long-term destination, not just a temporary move. Immigration-friendly policies, permanent residency pathways, and a high quality of life attract students, skilled workers, entrepreneurs, and entire families. Cities like Brampton and Surrey have thriving Punjabi communities, while Toronto and Vancouver draw professionals from across India in technology, finance, and healthcare.

These lasting connections make sending money to Canada a regular and often high-value requirement. Whether it is university tuition, settlement costs after receiving a PR, family support, or funding a new business, the need to transfer funds in CAD comes up frequently.

Even small differences in exchange rates or fees affect the final amount received. BookMyForex helps you send money to Canada with better rates, faster processing, and complete transparency at every step. 

Money transfers from India to Canada are concentrated in cities with large Indian communities and strong economic activity. Toronto and the Greater Toronto Area, including Brampton and Mississauga, receive the highest volume of remittances due to a well-established Indian diaspora, multiple universities, and diverse employment opportunities.

On the West Coast, Vancouver and Surrey attract significant transfers linked to Punjabi families, IT professionals, and students. Cities like Calgary and Edmonton see growing Indian populations with regular transfers tied to employment and settlement, while Ottawa receives remittances connected to public sector workers and students. 

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Accurate beneficiary details such as account number, transit number, institution number, and the bank's SWIFT code are essential to ensure smooth processing. Most recipients use accounts with major Canadian banks like RBC, TD Bank, Scotiabank, BMO, or CIBC, making bank-to-bank transfers the preferred and most reliable method. Digital banking is widely adopted across the country.

Funds sent from India are credited in CAD, allowing recipients to use the money immediately for rent, tuition fees, groceries, insurance, or everyday expenses. 

As per the Union Budget 2026, Tax Collected at Source (TCS) applies to outward remittances under LRS based on the purpose and amount of transfer. Here are the applicable TCS rates:

● Education via education loan: 0% TCS (any amount)
● Self-funded education & medical treatment: Nil up to ₹10 lakh; 2% above ₹10 lakh
● All other outward remittances: Nil up to ₹10 lakh; 20% above ₹10 lakh

Note: TCS is not a final tax, it can be claimed as credit when filing your ITR. BookMyForex auto-calculates applicable TCS at checkout so there are no surprises.

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