
Business bank accounts for non-Canadian residents
Foreign businesses can manage Canadian funds with a multicurrency spending account offered by an international transfer service.
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As India’s largest private sector bank, ICICI Bank offers a range of financial products and services to its customers. In addition to helping its customers transfer funds to over 195 countries overseas, ICICI also coordinates Money2India.com, which allows you to send an international money transfer from Canada to India within 24 hours.
You can see the transfer fees for ICICI bank as of 26 August 2018 in the table below. Before taking an action, be sure to check the current fees and rates of exchange.
ICICI Bank offers the following transfer options:
If you’re sending money to countries worldwide (other than India) you don’t need to be an ICICI bank member. You can become a member to get cheaper transfer fees, or you can simply use the services as a non-member to send funds for an additional $10.
To send funds to India, you’ll need to be registered on Money2India.com. It’s free to register online and you’ll need to provide your name, date of birth, address, contact details and bank account information. You can then log in to your account and provide the details of your recipient, under the “Add a New Receiver” tab, which will include their full name, address, contact details and bank details. Once you’ve completed this step, your recipient will be registered within 24 hours, and afterwards you can lodge your transaction by clicking on the “Send Money Now” button.
ICICI Bank’s Money2India service is an option well worth considering if you need to send funds to India from Canada. Conversely, you can use the services of ICICI to send money to 195 other countries worldwide, with minimal fees and competitive exchange rates.
Learn more in our detailed guide to sending an international money transfer.
Foreign businesses can manage Canadian funds with a multicurrency spending account offered by an international transfer service.
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