Personal Finance Money transfer

What is the maximum transfer amount between Canada and India?

Piyush Singh

18.03.25

Read time 4 minutes

If you’re a Non-Resident Indian or NRI living in Canada, you’ll need to find easy ways to send money back to friends and family.

But what is the maximum limit for money transfers from Canada to India? Let’s take a look at everything you need to know, including transfer limits, tax implications and some handy money transfer options.

We’ll also look at Wise, your international money transfer alternative. Send money from Canada to India conveniently from your smartphone.

We'll dive into:
What is the maximum amount you can send from Canada to India? Tax implications of sending money to India Best ways to send money from Canada to India Bank wire transfers Online money transfer services Why Wise is a great option for sending money to India

What is the maximum amount you can send from Canada to India?

Canada doesn’t place a limit on how much money you can send abroad. However, if you want to send more than 10,000 CAD, you’ll need to report the payment to the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC).¹

The Reserve Bank of India® (RBI) also regulates all transfers into India.² Under the Liberalised Remittance Scheme (LRS), you can send and receive up to 250,000 USD per financial year (April to March) from overseas.³

Some Canadian banks and Fintech providers may also limit how much you can transfer to India. These institutions will tell you your transfer limits in advance.

The amount you can send will typically differ depending on your transfer method, currency or financial history. Make sure to speak to your bank or money transfer provider for more information.

Tax implications of sending money to India

You won’t pay taxes when sending money abroad from Canada. However, there are a few taxes for Indian residents who receive money from overseas. This means your recipient may end up paying tax on your transfer.

If you want to send money to a family member, the payment isn’t taxable. This includes transfers to your parents, siblings and children, as well as step-family and your child’s spouse.²

However, if you want to transfer more than 50,000 Indian rupees (INR) to someone who isn’t a relative, the payment will be added to your recipient’s income – and they’ll pay tax on it.⁴

Your recipient may also pay Goods and Services Tax (GST) to receive your transfer.² Make sure to check with your bank for more information.

Best ways to send money from Canada to India

There are a few ways to send money to India from Canada. Wire transfers are a common choice.

You can send secure, large wire transfers, typically within 2 to 5 business days, but you may need to visit your local branch to initiate the payment. Many banks also charge transfer fees for sending and receiving wires.

Your usual Canadian banking provider may offer digital international transfers. These are usually very easy to set up, but you may end up paying hefty exchange rate markups for transfers in INR from your Canadian bank account.

You can also use an online money transfer service like Wise. These money transfer apps are easy to use – and you can often access good currency conversion rates.

However, these providers don’t have branches. This may be tricky if you prefer a more traditional banking experience.

Bank wire transfers

Let’s take a closer look at some popular Canadian banks, including the maximum limit for wire transfers from Canada to India.

Bank	Maximum transfer limit	Estimated fees	Processing times
RBC®	Speak to your RBC bank teller for more information about your maximum transfer limit	Fees start at 45 CAD per transfer⁵	RBC wire transfers typically take 2 to 5 days⁶
TD Bank®	Send up to 6,500 CAD per transfer every 24 hours⁷	TD charges up to 25 CAD per transfer – this can depend on a number of factors⁷	1 to 5 business days⁷
Scotiabank®	You’ll need to send a minimum of 100 CAD – speak to Scotiabank for the maximum limit for transfers from Canada to India⁸	Use Scotiabank International Money Transfer to send money for 1.99 CAD per transfer The bank’s foreign currency exchange rates also apply⁸	Your transfer will typically take up to 5 business days to reach your recipient⁸
BMO®	You’ll need to send at least 100 CAD – the maximum amount depends on your daily debit card limit Check your limit via the BMO app⁹	BMO Global Money Transfers cost 5 CAD per transaction – this fee may be waived in some cases⁹	You can use BMO Global Money Transfer to send money within 2 to 5 days⁹
CIBC®	You’ll need to speak to CIBC for more information on transfer limits	Typically from 30 CAD to 80 CAD per wire transfer CIBC’s exchange rates also apply¹⁰	1 to 3 business days¹⁰

Online money transfer services

Digital money transfer services are a convenient way to send money overseas. Let’s take a look at some popular providers.

Money transfer provider	Maximum transfer limit	Estimated fees	Processing times
Western Union®	Maximum limits may depend on your transfer method You can send up to 5000 CAD via a bank account¹¹	You can use Western Union’s price estimator tool to work out how much your transfer will cost – including exchange rate fees¹²	Processing times can differ. If your transfer is in progress for more than 48 hours, contact Western Union¹¹
Remitly®	You can send up to 25,000 CAD to India¹³	Fees can vary – check the Remitly website for more information¹⁴	Your transfer time will depend on a number of factors – you can choose Express delivery for quick transfers overseas¹⁴
Wise	You can send up to 100 million INR per transfer to a private individual	From 0.48% per transfer*	Your money should arrive within 1 working day

Note: Transaction speed claimed depends on funds availability, approval by Wise’s proprietary verification system and systems availability of our partners’ banking system, and may not be available for all transactions

Why Wise is a great option for sending money to India

Wise is your international money transfer alternative. You can send money to friends and family in India, including speedy INR transfers from your multi-currency account.

Unlike other banks and money transfer providers, Wise always uses the mid-market exchange rate for international transfers.

This is the standard rate for currency conversion – and Wise doesn’t add any markups or profit margins to your transaction. You’ll only pay for what you spend. This ensures transparency.

Wise’s transfer fees start at just 0.48%. View all your costs in advance for full transparency or open an account in INR to send frequent payments overseas.

Wise provides a fast, cost-effective, and reliable option for various transfer amounts. Send up to 1 million INR to friends and family in India – all in your Wise multi-currency account.

The true cost of sending CAD to INR

Final thoughts on sending money from Canada to India

It’s easy to send money to India, but you can only send up to 50,000 INR to non-relatives without paying tax.

You’ll also need to think about how much it costs to transfer your money overseas – and you’ll need to consider tax limitations for your recipient in India.

Wise is your low-fee transfer alternative. Send money to India at a mid-market exchange rate. No hidden fees, no markups, no stress! To explore your global spending options, check out Wise.

Sources:

Sources verified on 18 March 2025

*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.

This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.

We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.