After the US, Canada is the most popular choice among students pursuing degrees abroad. Having children living so far away can be difficult. You may want to send gifts to them but are not sure whether they will like your choice. In that case, transferring funds to them, which they can then use to buy something of their choice, seems like a wiser option. You might also be searching for an easy way to transfer funds to them every month, to help with their daily expenses. Whatever your reason, DBS Bank Remit makes it easier than ever to transfer money from India to Canada. With DBS Bank, transferring funds to Canada is rapid, paperless and hassle-free.
Both new and existing customers can send money from India to Canada via the DBS Bank website. New customers must download the digibank app and set up thier account, while existing customers simply need to log in to thier internet banking account to send money overseas.
Click on start a transfer to add the complete details of the payee such as thier name, contact number, bank name and account number, SWIFT or IBAN code, etc. The payee account will be set up in 30 minutes.
Click on ‘Pay and Transfer’, enter the amount (in the currency) you wish to send, and click on Overseas Transfer. Review the details before completing the fund transfer.
Key benefits of online overseas transfer:
Your money will be transferred to the payee's account within 24 hours if you initiate the transaction process before the cut-off time.
Neither you nor your recipient will be charged any fees when you transfer money from India to Canada.
We offer preferential exchange rates for sending money abroad
We ensure the delivery of the entire credit amount to your recipient when you send money to Canada from India.
Through DBS Bank Remit, you have the freedom to transfer money to over 200 nations across the world. We also charge no handling fees for transferring money to many countries. If you want to send money from India to Canada in CAD, the bank fee is zero, as are our agent charges. You will be charged GST on your transaction as and when applicable.
The recipient gets it within the day when you send money from India to Canada. DBS Bank offers this facility for the transfer of funds to numerous other countries if you initiate transfers before the deadline. The cut-off time varies from country to country.
The deadline to transfer money to Canada is 11:30 AM (IST). In case you do not manage to initiate the transfer before the cut-off time for that day, there is no cause for concern. The amount will be delivered on the next working day.
If you want to transfer money from India to Canada in a non-local currency, there is a provision for that too. It will merely take a bit longer. The funds will be transferred in 1-3 working days after you initiate a transfer before the cut-off time.
Open Instant DBS Bank Savings Account in just a few minutes.
Log in to DBS Bank ibanking, go to the section 'Pay & transfer' and then 'Overseas Transfer'.
Add bank details of your new payee, or click on 'Start a transfer' if your payee details are already added. On successful processing, you will receive an email and SMS as confirmation.
Once you log in, you will be required to add some details of your new overseas payee like their full name, account number and bank details before a payment can be processed. As a security measure, confirmation of a new payee is done after specific steps:
Right now, Indian law does not permit overseas remittances. You can initiate a transfer by merely opening our Internet Banking browser page in your mobile device.
You can send money to Canada for many purposes:
The daily minimum per transaction limit is USD 10 (or its equivalent), and the upper limit is USD 25,000. The maximum limit per year is USD 250,000 or equivalent (fixed by Reserve Bank of India).