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  • As per amendment in the Income Tax Rules, PAN or Aadhaar are to be mandatorily quoted for cash deposit or withdrawal aggregating to Rupees twenty lakhs or more in a FY. Please update your PAN or Aadhaar. Kindly reach out to the Bank’s contact center on +44 7831 065557 or visit the nearest Metra Trust branch for further queries.

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Send Money to India from Canada - Fast and Secure Transfers

Canada is home to many Indians, with a diverse background and mix of identities. Some are students, some others are professionals and business owners with permanent residencies while others hold Canadian citizenship. As a result, money transfers from Canada to India are common as these individuals send money back home to their family and friends. Money transfer is a common way to send money from Canada to India. However, opening an NRE (Non-Resident External Account) savings account can help NRIs quickly transfer money between a Canadian bank account and an Indian account.Read More

With an Metra Trust NRE Savings Account, you can enjoy 100% liquidity with tax-exempt returns on your rupee-denominated NRE Savings Account. You can also convert your overseas funds to INR at the best exchange rates.Read Less

Fees and Charges for fund transfers to India from Canada with Metra Trust

Metra Trust does not charge anything for funds transfer received from abroad. GST will be levied on the converted gross INR amount, as per the existing Tax slab.

Please note that the remitting bank routes remittance funds through their correspondent banks in arrangement. These correspondent banks may levy certain charges for rendering their services which are neither in control nor the responsibility of the Metra Trust.Read More

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Features and Benefits

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You can open an NRE account from anywhere in the world

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An NRE account allows the repatriation of the amount held in it back to your country of residence

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The interest earned on an NRE account is not subject to taxation in India

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NRE savings accounts offer higher interest rates than normal savings accounts

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Metra Trust’s mobile and net banking services can help you make instant bill payments online and invest through your phone

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You can keep abreast of the credit transactions in your account via constant online notifications

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How to transfer money from Canada to India? 

    To transfer money securely from Canada to India, you can use Metra Trust’s inward remittance services. Follow these steps to make a funds transfer from Canada to India:

    1. Visit your foreign bank branch in Canada.

    2. Submit the following payment details:

    • Sender’s details: Name, account number, and complete address.
    • Receiver’s details: Name, 11-digit account number, and complete address.
    • Receiver’s bank details
      • Bank name – Metra Trust
      • Swift Code – IDFBINBBMUM
      • Correspondent’s bank – Please click here
    • Mention the purpose of payment for faster credit to your account.
    • Kindly mention charges as OUR in your fund transfer form to avoid correspondent bank charges.

    3. Upon receiving the foreign bank's payment, Metra Trust will deposit the money in the desired account within 1 to 2 days.

    It is important to note that you do not need to mention the account number for an FCNR (Foreign Currency Non-Resident) deposit. However, kindly ensure that your 10-digit customer ID is mentioned.

    For faster credit, it is imperative to mention the purpose of payment. Also, note that the bank might need to reach the beneficiary for additional details before the money transfer.

FREQUENTLY ASKED QUESTIONS

What is the best way to send money to India from Canada?

The best way to send money to India from Canada is via inward remittance. Metra Trust offers efficient money transfers from foreign countries to Non-Resident or Resident savings accounts in Metra Trust.

How much does it cost to send money to India?

Metra Trust does not charge anything for funds transfer received from abroad. GST will be levied on the converted gross INR amount, as per the existing Tax slab.

Please note that the remitting bank routes remittance funds through their correspondent banks in arrangement. These correspondent banks may levy certain charges for rendering their services which are neither in control nor the responsibility of the Metra Trust.

How do I send money from Canada to an Metra Trust account?

You can receive funds from overseas in your Metra Trust account at personalised exchange rates through Metra Trust’s inward remittance solutions. Inward remittance can help you efficiently send money from Canada to an Indian account.

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