What payment methods are available?<\/h3>
A variety of payment options are available for money transfers to India, including:<\/p>
- e-Transfer<\/li>
- Debit card<\/li>
- Credit card<\/li>
- Google\/Apple Pay<\/li>
- Direct debit<\/li>
- Bank account via Plaid<\/li><\/ul>
What delivery methods are available?<\/h3>
You can deliver money to India in the following ways:<\/p>
- Bank deposit. <\/b>This can take a few business days, but for a popular transfer destination such as India, it can be much faster for a lot of the major banks, sometimes within a few minutes.<\/li>
- Cash pickup.<\/b> Cash pickup lets your recipient instantly collect it from a physical location in India.<\/li>
- UPI.<\/strong> This is the fastest and most convenient method available. By using just the recipient\u2019s unique UPI ID or phone number instead of long bank details, money is transferred securely and instantly into their mobile wallet or bank account. The money typically arrives in minutes.<\/li><\/ul>
How do I send money to India fast?<\/h3>
Have an emergency? Here are the steps to send money to India instantly while reducing costs:<\/p>
- Choose a money transfer specialist. <\/strong>Avoid your bank and opt for fast money transfer specialists who can offer better exchange rates and fees.<\/li>
- Select a payment method. <\/strong>Direct debit and debit cards are usually fast, cost-effective methods. e-Transfer can be cheap depending on the app. Avoid credit card payments.<\/li>
- Deliver using UPI. <\/strong>UPI is instant. Cash pickup is also fast, but it may cost more.<\/li><\/ol>
Money transfer apps with instant delivery to India<\/h4>
Most apps offer instant delivery, including:<\/p>
- Wise<\/li>
- Remitly<\/li>
- Xe<\/li>
- Instarem<\/li>
- Moneygram<\/li>
- Paysend<\/li>
- Western Union<\/li><\/ul>
Which money transfer apps do UPI delivery?<\/h3>
The money transfer apps that offer UPI delivery include Wise, Remitbee, Remitly, Western Union, Taptap Send, Pesa, Paysend, Ria, Panda Remit and Instarem.<\/p>
Which money transfer apps do cash pickup?<\/h3>
Providers that do cash pickup include Remitly, Western Union, MoneyGram, Xe, Ria, CIBC and Simplii.<\/p>
How do exchange rates and transfer fees work?<\/h3>
When you\u2019re hunting down the cheapest ways or best rates to send money to India, look at the overall cost of your transfer. This has a couple of elements:<\/p>
- Transfer fees.<\/strong> While still cheaper than your Canadian bank, some money transfer services charge either a fixed or percentage-based fee for making your transfer.<\/li>
- Exchange rates.<\/strong> Another way money transfer providers make money is to add a margin to the mid-market CAD\/INR exchange rate.<\/li><\/ul>
Some providers may charge the mid-market rate but add fees on top. Others may have very low fees but apply a markup on the exchange rate. This means it is important to compare exactly how many Indian rupees your recipient will end up with. In our table above<\/a>, we added both the exchange rate markup and transfer fee to find out the true cost of a money transfer.<\/p>
CAD to INR: What\u2019s the exchange rate?<\/h3>\n
<\/div>\n - Exchange rates.<\/strong> Another way money transfer providers make money is to add a margin to the mid-market CAD\/INR exchange rate.<\/li><\/ul>
- Transfer fees.<\/strong> While still cheaper than your Canadian bank, some money transfer services charge either a fixed or percentage-based fee for making your transfer.<\/li>
- Select a payment method. <\/strong>Direct debit and debit cards are usually fast, cost-effective methods. e-Transfer can be cheap depending on the app. Avoid credit card payments.<\/li>
- Cash pickup.<\/b> Cash pickup lets your recipient instantly collect it from a physical location in India.<\/li>
- Bank deposit. <\/b>This can take a few business days, but for a popular transfer destination such as India, it can be much faster for a lot of the major banks, sometimes within a few minutes.<\/li>