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Wise, Remitly or Western Union: Which Can Bring Canadian Dollars into India for an Exporter?

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Editorial team, serviceexportguide.com
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Short answer

Remitly's Canadian user agreement limits personal accounts to personal, family or household use, and Remitly says Remitly Business is available to businesses in Canada.2244 Western Union Canada sends only to accounts used for personal, not business, purposes.20 RBI's Money Transfer Service Scheme excludes trade-related remittances.5 Wise gives Indian businesses local CAD account details.41 On published fees for CAD 7,000 in 2026, Skydo costs about 0.68%.2728

Applies toRules involvedPlatforms comparedLast verified
Indian freelancers and businesses invoicing Canadian clients in CAD10FEMA (Export and Import of Goods and Services) Regulations, 2026; RBI Money Transfer Service Scheme; PA Master Direction 11(d)157Skydo, Payoneer, PayPal, Remitly, Western Union, Wise831 October 2026

1,400 CAD = ₹92,537 at the reference rate for 13 November 2026 (European Central Bank data).

Estimated rupees received, on published fees

Sorted by estimated rupees received, highest first. Only providers that publish both their fee and their conversion markup for this currency and method can be estimated.

#Provider and routeBest forFee (+GST)MarkupYou receiveCost
1SkydoLowest estimated costTransfer to Skydo local account details or international SWIFT accountLocal bank transfers from major markets₹2,1130%₹90,4252.28%
2PayoneerLocal bank transfer to Payoneer receiving account detailsMarketplace payouts such as Amazon or Upwork₹0no GST stated1 to 4%₹88,836 to ₹91,6121.00 to 4.00%
3PayPalInternational commercial transaction received into a PayPal account (PayPal checkout or invoice)Clients paying by card or PayPal balance₹4,091no GST stated3 to 4%₹84,908 to ₹85,7937.29 to 8.24%

Not estimated because pricing is not fully published: Cashfree Payments, PingPong, Wise.

Where a provider says GST applies to its fee but not at what rate, the range runs from no GST to 18%, the rate Skydo, Stripe and Winvesta state on their pages. Estimates use each provider's published fee, conversion markup, GST on fees and FIRA charge, checked 2026-10-28, against the reference rate. They exclude charges taken by intermediary banks and your own bank, and the rate a provider actually applies at the time of conversion. Check the provider's pricing page before you choose. The order is calculated only from these published numbers; no provider can pay to change its position, and there are no affiliate links.

"Cheapest way to get Canadian dollars into India" searches usually compare Wise, Remitly and Western Union on fees and rates. For an Indian freelancer, agency or IT company being paid by a Canadian client, two of those three are built for a different job. This page corrects the comparison and sets the three against the lowest-cost providers in this site's CAD cost model.

The original question treats Remitly and Western Union as ways to receive export payments, and that premise needs correcting. Remitly's Canadian user agreement limits its services to personal, family or household purposes and calls business use a breach, although Remitly says its separate Remitly Business service is available to businesses in Canada.2244 Western Union Canada says it only sends money to accounts used for personal, not business, purposes.20 RBI's Money Transfer Service Scheme (MTSS) covers only inward personal remittances and lists trade-related remittances among those that shall not be made through it.5 Both consumer services are designed for family remittances, so the H1 keeps their names but asks which option can carry export proceeds. Confirm your own setup with a chartered accountant (CA).

How do Wise, Remitly and Western Union compare for receiving CAD as an exporter?

Wise, Remitly and Western Union compare very differently for an exporter: Wise is an RBI-authorised PA-CB with local CAD details for Indian businesses, while Western Union's Canadian terms exclude business payments and Remitly carries business payments from Canada only through Remitly Business.820224144 The table orders providers by estimated cost on CAD 7,000 from published fees, cheapest first, then the rest A to Z.273538

PlatformBest forFeeFX markupSettlementFIRARBI PA-CB statusSource
SkydoLocal bank transfers from major markets26USD 19 plus GST up to USD 2,000; USD 29 plus GST from USD 2,001 to USD 10,000; 0.3% plus GST above2728Product page: mid-market rate, 0% markup; terms: retail rate set by Skydo or its partner banks2930Within 24 hours per product page; T+1 to T+3 business days per terms2930Free FIRA on every payment2931PA-CB-I & O, authorised 8 January 20268Skydo fee FAQ27
PayoneerMarketplace payouts such as Amazon or Upwork36Local CAD receiving: free per the India account page, or "fixed fee or 1%" per the pricing page34351% to 4% when converting to INR35Within 24 hours (multi-currency account page); within 48 hours (pricing page)3435Free digital FIRA from a partner AD bank33In-principle PA-CB authorisation on 22 January 2026; RBI Table E as on 16 October 2026932Payoneer pricing35
PayPalClients paying by card or PayPal balance374.40% plus 0.30 CAD per international commercial transaction383.0% or 4.00% above the base rate; the page does not say which applies to INR withdrawals38Up to 5 business days39Free weekly digital FIRA from February 202640Existing PA-CB that can operate, with in-principle authorisation, as on 16 October 20269PayPal fee page38
RemitlyUS or Canadian business clients already using Remitly2344No fee for the receiver; the sender pays25Remitly may earn from the difference between its buying rate and the rate shown; no percentage published22Not published for business use from CanadaNot published2425Not on RBI's PA-CB list; processes India transfers under Rupee Drawing Arrangements822Remitly Canada user agreement22
Western UnionPersonal transfers between individuals20No receiver fee mentioned on the India page21Margin added to interbank rates; Western Union keeps the difference20Not verifiedNot published21Listed by RBI as a cross-border in-bound money transfer operator, not a PA-CB8Western Union Canada terms20
WiseBank transfers to local account details412 USD equivalent for the e-FIRC transfer per the help article; free e-FIRC per the pricing page4142Mid-market rate plus a currency-dependent fee; no INR percentage published4243INR within 1 to 2 days41e-FIRC per transfer within 3 working days41PA-CB-I, authorised 12 March 20268Wise help article41

Remitly Business's US agreement covers US-registered businesses with a US-resident account holder, and Remitly's Canada site says Remitly Business is also available to businesses in Canada, so a Canadian business client may be able to pay through it.2344 Remitly still publishes no FIRA or purpose code for the Indian recipient and is not an RBI-authorised PA-CB.82425

Which RBI rule governs money from Canada?

Money from a Canadian client for services is governed by the FEMA (Export and Import of Goods and Services) Regulations, 2026, and personal remittance channels are governed by separate RBI directions that exclude or limit trade payments.156

RuleBest forPlain meaningSource
2026 Regulations, regulations 3 to 5Every CAD export invoiceEDF within 30 days from the end of the invoice month, and realisation within nine months12RBI
PA Master Direction, paragraph 11(d)Payments through Skydo, Wise or another PA-CB₹25 lakh cap per transaction7RBI7
MTSS Master Direction, paragraphs 1.1 and 3.4Family remittances onlyInward personal remittances; trade-related remittances not permitted; USD 2,500 per remittance; 30 a year per beneficiary5RBI5
Rupee Drawing Arrangements Master Direction, paragraphs 3(a) and 4Exchange house remittancesPrimarily for inward personal remittances; trade transactions up to ₹15,00,000 per transaction6RBI6
IGST Act, section 2(6)GST treatmentFive conditions make the work an export of services10CBIC10

Remitly says it processes transactions to India under the Rupee Drawing Arrangements, but its Canadian user agreement bars business use of personal accounts, so business payments from Canada would go through Remitly Business.62244

What does each option charge for CAD?

Each option charges for CAD in a different way: Skydo charges a fixed fee by band, Payoneer charges 1% to 4% on conversion, PayPal charges 4.40% plus a fixed fee, and Wise, Remitly and Western Union do not publish a percentage for conversion to INR.202227353842

OptionBest forEstimated cost on CAD 7,000What drives the costSource
SkydoBusiness clients paying by CAD bank transfer0.68%USD 29 fixed fee plus GST27Skydo2728
PayoneerFreelancers with marketplace income1.00 to 4.00%Conversion fee that depends on region and volume35Payoneer35
PayPalClients who pay by card7.27 to 8.23%4.40% plus 0.30 CAD, then a conversion fee38PayPal38
RemitlyPersonal remittances from familyNot estimatedSender fee plus an unpublished exchange rate margin22Remitly22
Western UnionPersonal remittances from familyNot estimatedTransfer fee plus a margin over interbank rates20Western Union20
WiseBusiness clients paying by CAD bank transferNot estimatedConversion fee to INR not published as a percentage42Wise42

Canadian clients pay domestically through Lynx for high-value wires and the Automated Clearing Settlement System for electronic funds transfers, which is why local CAD details matter.19

Which option is cheapest at CAD 2,800, CAD 7,000 and CAD 14,000?

The cheapest option at CAD 2,800, CAD 7,000 and CAD 14,000 is decided by fixed fees on small invoices and percentage fees on large ones.2735 The table below works out rupees received at today's rate from published fees.

PlatformBest forINR on CAD 2,900INR on CAD 7,100INR on CAD 14,000Cost on CAD 7,100
SkydoMost INRTransfer to Skydo local account details or international SWIFT accountLocal bank transfers from major markets₹1,88,460₹4,66,072₹9,22,1490.69%
PayoneerLocal bank transfer to Payoneer receiving account detailsMarketplace payouts such as Amazon or Upwork₹1,84,017 to ₹1,89,768₹4,50,525 to ₹4,64,604₹8,88,359 to ₹9,16,1211.00 to 4.00%
PayPalInternational commercial transaction received into a PayPal account (PayPal checkout or invoice)Clients paying by card or PayPal balance₹1,75,902 to ₹1,77,734₹4,30,683 to ₹4,35,169₹8,49,253 to ₹8,58,0997.27 to 8.23%

Not estimated because pricing for CAD is not fully published: Wise.

Ranked by INR received on CAD 7,100. Reference rate: European Central Bank data for 13 November 2026. Fees, conversion markup, GST on fees and FIRA charges as published by each provider, checked 28 October 2026. Ranges appear where a provider publishes a range or does not state its GST rate. Intermediary bank charges are excluded. See the methodology.

For example, Skydo's published fees work out to about 1.71% at CAD 2,800, 0.68% at CAD 7,000 and 0.35% at CAD 14,000, while Payoneer's conversion fee stays between 1% and 4% at each size.272835 Western Union is left out because its Canadian terms exclude business payments, and Remitly because its consumer terms exclude business payments and this page has no published Remitly Business fee for Canada to model.2022

What documents and GST apply to payments from Canadian clients?

Payments from Canadian clients need a FIRA or bank advice for each receipt, an EDF with your bank, and GST zero-rating under an LUT if you are registered.113

DocumentBest forWhat it doesSource
FIRA or e-FIRCEvery CAD receiptProves the foreign payment; Wise, Payoneer, PayPal and Skydo each say they issue one29334041Provider pages
e-BRCExporters with an IECSelf-certified on DGFT from the bank's inward remittance message14DGFT14
EDFEvery service exporterDeclares the export to the AD bank from 1 October 20261RBI1
LUTGST-registered exportersLets you invoice exports without IGST, in FORM GST RFD-1113GST portal13

Exports of services are zero-rated under section 16 of the IGST Act, and under rule 96A IGST with interest falls due if payment is late beyond one year or the FEMA period, whichever is later.1112 The India-Canada DTAA, in force from 6 May 1997, covers fees for included services in Article 12.17 See receive CAD payments in India for the currency view.

What changes in 2026 for exporters paid in Canadian dollars?

Exporters paid in Canadian dollars work under new RBI export rules from 1 October 2026, a nine-month realisation period, and a new Income-tax Act from 1 April 2026.1215

  • 2026 Regulations: The FEMA (Export and Import of Goods and Services) Regulations, 2026 replaced the 2015 Regulations on 1 October 2026.1
  • EDF for services: Every service exporter files an EDF, and RBI Circular No. 20 supersedes the SOFTEX circulars from 1 October 2026.14
  • Realisation period: The period was 15 months from November 2025 and is now nine months from the invoice date.23
  • Provider authorisations: RBI authorised Skydo on 8 January 2026 and Wise on 12 March 2026 as PA-CBs.8
  • Remitly terms: Remitly's Canadian user agreement took effect on 10 September 2026 and keeps the personal-use limit.22
  • Income tax: Foreign tax credit for tax year 2026-27 is claimed in Form 44 under the Income-tax Rules, 2026.16

For the corridor overview, read receive money from Canada to India, and for Remitly in detail, the Remitly review.

How did we verify this?

We checked this page against the sources below on 31 October 2026. Provider fees, conversion markups and RBI payment aggregator (PA-CB) status were checked on 28 October 2026. Rupee amounts use European Central Bank reference rates for 13 November 2026. Read our methodology or report an error.

  1. [1]RBI: Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2026, Notification No. FEMA 23(R)/2026-RB, amended up to 22 September 2026, regulations 3, 4, 5, 13 and 19
  2. [2]RBI: Notification FEMA 23(R)/(1)/2026-RB dated 22 September 2026, amending regulation 5 (realisation period)
  3. [3]RBI: Notification FEMA 23(R)/(7)/2025-RB dated 13 November 2025 (15-month realisation period, later reversed)
  4. [4]RBI: A.P. (DIR Series) Circular No. 20 dated 16 January 2026 (supersedes the SOFTEX circulars from 1 October 2026)
  5. [5]RBI: Master Direction, Money Transfer Service Scheme (MTSS), FED Master Direction No. 1/2016-17, updated as on 29 September 2026, paragraphs 1.1 and 3.4 (checked 2026-10-31)
  6. [6]RBI: Master Direction, Opening and Maintenance of Rupee/Foreign Currency Vostro Accounts of Non-resident Exchange Houses (Rupee Drawing Arrangements), FED Master Direction No. 2/2015-16, updated as on 1 October 2026, paragraphs 3(a) and 4 (checked 2026-10-31)
  7. [7]RBI: Master Direction on Regulation of Payment Aggregator dated 15 September 2025, paragraph 11(d) (₹25 lakh per transaction) and 11(h) (documents to the AD bank)
  8. [8]RBI: Certificates of Authorisation issued under the Payment and Settlement Systems Act, 2007 (payment aggregators and cross-border in-bound money transfer operators), list dated 16 October 2026 (checked 2026-10-28) and list dated 30 October 2026 (checked 2026-10-31)
  9. [9]RBI: Status of applications received under the Payment and Settlement Systems Act, 2007, as on 16 October 2026, Tables D and E (checked 2026-10-28)
  10. [10]CBIC: IGST Act, 2017, section 2(6) (export of services)
  11. [11]CBIC: IGST Act, 2017, section 16 (zero-rated supply)
  12. [12]CBIC: CGST Rules, 2017, rule 96A (export under bond or Letter of Undertaking), clause (1)(b) as substituted by Notification No. 12/2024-Central Tax, 10 July 2024
  13. [13]GST portal user guide: Furnishing of Letter of Undertaking (FORM GST RFD-11)
  14. [14]DGFT: eBRC system, self-certification of eBRC from bank inward remittance messages (IRMs), Trade Notice 33/2023-24 dated 10 November 2023
  15. [15]PIB: Income-tax Act, 2025 in force from 1 April 2026 (tax year replaces previous year and assessment year)
  16. [16]Income Tax Department: Income-tax Rules, 2026 (notified 20 March 2026), rule 76 and Form 44
  17. [17]Income Tax Department: India-Canada DTAA text
  18. [18]Canada Revenue Agency: IC75-6R2, Required Withholding from Amounts Paid to Non-Residents Providing Services in Canada (checked 2026-10-28)
  19. [19]Payments Canada: Payment systems (checked 2026-10-28)
  20. [20]Western Union Canada: Terms and Conditions for money transfer services, Western Union Financial Services (Canada), Inc. (checked 2026-10-31)
  21. [21]Western Union India: Receive money (checked 2026-10-31)
  22. [22]Remitly Canada: User Agreement, effective 10 September 2026, sections 3.3, 7.3 and 10.1 (checked 2026-10-31)
  23. [23]Remitly Business Account Agreement (US), updated 1 August 2026, sections 3, 4 and 8 (checked 2026-10-28)
  24. [24]Remitly, Business payments from the United States to India (checked 2026-10-28)
  25. [25]Remitly India, Receive money in India from family abroad (checked 2026-10-28)
  26. [26]Skydo FAQs, What countries can I get paid locally through Skydo? (checked 2026-10-28)
  27. [27]Skydo FAQs, How much does Skydo charge? (checked 2026-10-28)
  28. [28]Skydo, home page fee table (checked 2026-10-28)
  29. [29]Skydo, Receive international payments as a freelancer in India (product page) (checked 2026-10-28)
  30. [30]Skydo, Terms of Use, last updated 9 April 2026 (checked 2026-10-28)
  31. [31]Skydo FAQs, What is accepted for GST filings and banks between FIRA and FIRC? (checked 2026-10-28)
  32. [32]Payoneer press release, Payoneer receives in-principle authorization as Cross-Border Payment Aggregator in India, 22 January 2026
  33. [33]Payoneer Help Center, Digital FIRA FAQ (checked 2026-10-28)
  34. [34]Payoneer India, Multi-currency account page and FAQs (checked 2026-10-28)
  35. [35]Payoneer India, Payoneer Fees (checked 2026-10-28)
  36. [36]Payoneer, How to use Payoneer in India (last modified 18 September 2026, checked 2026-10-28)
  37. [37]PayPal India, User Agreement for PayPal Services (last updated 13 January 2025) (checked 2026-10-28)
  38. [38]PayPal India, PayPal Merchant Fees (page last updated 28 March 2024) (checked 2026-10-28)
  39. [39]PayPal India Help, How do I transfer funds to my bank account? (checked 2026-10-28)
  40. [40]PayPal India, Foreign Inward Remittance Advise (FIRA) (checked 2026-10-28)
  41. [41]Wise Help Centre, Receiving payments for Indian businesses (checked 2026-10-31)
  42. [42]Wise India, Fees for getting paid (Wise Business receive pricing) (checked 2026-10-28)
  43. [43]Wise India, Receive international payments (checked 2026-10-28)
  44. [44]Remitly Canada, Remitly Business page and FAQ (checked 2026-10-31)

Frequently asked questions

What is the cheapest way to receive CAD in India from a Canadian client?+

The cheapest way to receive CAD from a Canadian client on published fees is a bank transfer to local CAD account details. For a CAD 7,000 invoice, Skydo works out at about 0.68% and Payoneer at 1% to 4%, while Wise does not publish its INR conversion fee as a percentage.273542

Can my Canadian client pay my invoice through Remitly?+

Remitly's Canadian user agreement says its services are for individuals for personal, family or household purposes, and that using them for business purposes breaches the agreement. A Canadian company paying an Indian supplier's invoice is a business payment, so Remitly's consumer service from Canada does not fit export receipts.22 Remitly says Remitly Business is available to businesses in Canada, so a Canadian business client may be able to pay through Remitly Business.44 Remitly's pages do not mention a FIRA or purpose code for the Indian recipient, and Remitly is not on RBI's PA-CB list.82425

Can I receive export payments through Western Union in India?+

Western Union Canada's terms say it only accepts payments and sends money to accounts used for personal, not business, purposes. RBI's Money Transfer Service Scheme, which governs inward money transfers of this kind, covers only personal remittances and excludes trade-related remittances, so it does not suit export proceeds.520

Does Wise accept CAD for Indian businesses?+

Wise says it gives Indian businesses local account details in 11 currencies, including Canadian dollars, and international account details in 13 more. Wise converts each payment to INR and pays it to the verified Indian bank account, and Indian users cannot hold the foreign currency or send money from those details.41

Does a Canadian client have to withhold tax on my invoice?+

Canada Revenue Agency says Regulation 105 requires 15% withholding on fees paid to non-residents for services rendered in Canada. Payments for services performed outside Canada are not subject to Regulation 105, and the payer should document a reasonable allocation when work is split between countries.18

Is there a limit on how much I can receive through MTSS?+

RBI's Money Transfer Service Scheme caps each individual remittance at USD 2,500 and allows a single beneficiary only 30 remittances in a calendar year. Amounts up to ₹50,000 may be paid in cash, and larger amounts go to a bank account or by account payee instrument.5

Do Remitly or Western Union give a FIRA for money from Canada?+

Remitly's pages for recipients in India do not mention a FIRA or FIRC. Western Union's India receive page does not mention one either. Exporters need a FIRA or bank advice for each receipt to support GST and income tax records, so check with your bank before relying on either service.212425

This page is general information for Indian service exporters, not tax or legal advice. Rules change and outcomes depend on your facts, so confirm with a chartered accountant before acting.

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