The beautiful country of Canada has emerged as a favourite destination for Indians to immigrate and while you may be residing miles away from your home country, you can still ensure that your financial commitments in India are met. You can easily and quickly remit money to an NRE account and use the funds to facilitate payments for medical emergencies, utility bills, school and college fees, investments and even your family’s everyday expenses.
A DBS Treasures NRE account enables easy transfer of large sums of money from Canada to India as there are no limits on the amount you can deposit in an NRE account. You may choose any transfer channel of your choice and once the money is credited to your NRE account, you will receive an instant SMS and email alert.
An NRE account comes with various inward remittance benefits including:
The bank does not levy any additional service charge for international remittances from Canada to India.
|International Funds Transfer||Service Charge|
|Credit to DBS Treasures Account for Inward remittance||Free|
|Returned funds for unapplied OTT / ITT (for inward remittance)||All INR 500 + Swift Charges|
Though there are several international money transfer options like wire transfers or foreign demand drafts, it is convenient and cost-effective if you send money to your NRE account online. Also, there is no limit on the amount you send per year.
How to Send Money to India Online from Canada
Follow these simple steps to send money from Canada to India quickly:
Step 1: Open a DBS Treasures NRE account. You can do this from anywhere with the help of our dedicated Relationship Managers.
Step 2: Log in to your bank account abroad and choose remittances or a similar option.
Step 3: Enter your Customer ID or mobile number. Your bank account details like the account number and balance may appear automatically on the screen once you enter your mobile number or Customer ID.
Step 4: Add or select your beneficiary DBS Treasures NRE account.
Step 5: Check if your information is correct, e.g. bank account number, SWIFT Code, IFSC code etc.
Step 6: Click 'Submit' or a similar option.
You will receive an SMS or e-mail verification from DBS Treasures once your NRE account is credited.
If you do not have a DBS Treasures NRE account, sign up for one today by reaching out to us.
You can choose a convenient method of transfer including online transfers, in which case you will not have to visit a branch.
The documents you will need to submit to make a transfer to India will depend on the method of transfer you choose. Check with your local bank or remittance provider about the documents they would need. In addition, you will have to provide all the details of your NRE account.
There are no restrictions or upper limit on the amount of money you can transfer to an NRE account.