Which is the best to transfer money from Canada
- Thread starter 21685
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I once used Canadian forex( www dot canadianforex dot ca) to transfer funds to Australia. They have pretty good rates as compared to my bank's wire transfer and they have no service charge for transfers of $10,000 and above.
You just have to register and email all the documents needed. You have to transfer the funds to them through bill payment feature of your bank. Back then I think only RBC has the bill payment feature. For the rest of the banks they email you a form to authorize debit in your account for the first time; you won't need that for succeeding transfers.
You still have to check their rules for each country though because the rules for each country differs.
You just have to register and email all the documents needed. You have to transfer the funds to them through bill payment feature of your bank. Back then I think only RBC has the bill payment feature. For the rest of the banks they email you a form to authorize debit in your account for the first time; you won't need that for succeeding transfers.
You still have to check their rules for each country though because the rules for each country differs.
alok4best
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21685 said:
If you prefer to use a bank, then go for SBI or ICICI. They do have operations in Canada. You will find their branch on Bay St., downtown Toronto.
If you prefer remittance services, then Remit2India(Times Group) or Click2Remit (run by Kotak Mahindra) are good options. Naturally, you need to open an account with them online as they do not have a physical branch in Canada.
Don't use International/Visa etc transfer services provided by the banks. You will mostly see these options within your online banking module.
Banks usually charge a lot of fee compared to the options I mentioned above.
Source: Have been using Remit2India myself from multiple countries since 2009.
