Currency Converter for Newcomers to Canada

Convert your salary, savings, or any amount to Canadian dollars. Compare transfer fees and see what your money is really worth in Vancouver.

Amount

Source Currency

Conversion Mode

Conversion Result

10,000 INR =

$162.60 CAD

Rate: 1 CAD = 61.5 INR

Purchasing Power Comparison

10,000 INR buys about the same goods and services as $35.77 CAD in Vancouver.

Based on cost-of-living ratio between Indian Rupee and Canada

Transfer Fee Comparison (sending $162.60 CAD)

Bank Wire(3–5 business days)

Fee: $29.07You get: $133.54

Wise(1–2 business days)

Fee: $5.81You get: $156.79

Remitly(Same day–2 days)

Fee: $4.63You get: $157.98

Save up to 8x on international transfers

Best Rate

Wise uses the real exchange rate with transparent fees. No hidden markups like banks.

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Sending Money to Canada: What Newcomers Need to Know (2026)

Transfer Fee Comparison

Service	Flat Fee	Exchange Rate Markup	Speed
Wise	~$5 CAD	0.5%	1–2 business days
Remitly	~$3 CAD	1.0%	Same day–2 days
Bank Wire	~$25 CAD	2.0–3.0%	3–5 business days

Understanding Purchasing Power

Exchange rates don’t tell the full story. A salary of 1,000,000 INR per year converts to roughly $16,260 CAD, but the purchasing power equivalent is much higher — that salary affords a lifestyle in India similar to about $74,000 CAD in Vancouver. This is because housing, food, and transportation cost significantly less in many home countries. Use our purchasing power estimate to get a realistic picture of how your money translates.

Tips for International Money Transfers

Avoid bank transfers for amounts under $5,000 — the flat fee + markup makes them the worst value
Set rate alerts on Wise or XE to transfer when rates are favorable
Open a multi-currency account with Wise to hold and convert money at your own pace
Declare amounts over $10,000 CAD at the Canadian border to avoid seizure and fines
Keep transfer receipts for CRA tax filing — large transfers may need documentation

Example: Transferring 1,000,000 INR to Canada

Priya is moving from Bangalore to Vancouver and wants to transfer 1,000,000 INR (her savings) to her new Canadian bank account. Here is what she would receive after fees using each option (at an approximate mid-market rate of 1 INR = 0.0163 CAD):

Wise: ~$16,179 CAD (0.5% markup + $5 fee = $86 total cost)
Remitly: ~$16,098 CAD (1.0% markup + $3 fee = $165 total cost)
Bank wire (ICICI → RBC): ~$15,781 CAD (2.5% markup + $25 fee = $482 total cost)
Airport exchange kiosk (on arrival): ~$15,457 CAD (4% markup + no fixed fee = $806 total cost)

Priya saves approximately $400 CAD by using Wise instead of her bank wire — enough to cover her first month of groceries in Vancouver. She transfers once her Scotiabank StartRight account is open (day 2 after landing).

Related Tools & Guides

First-Year Settlement Cost →Canada Income Tax Calculator →Personalized Canada Landing Plan →Rent Affordability Calculator →Best Bank Accounts for Newcomers →How to File Taxes in Canada →

Frequently Asked Questions

What is the cheapest way to send money to Canada?

Wise (formerly TransferWise) is generally the cheapest option for sending money to Canada, with fees around $5 and a markup of only 0.5% on the exchange rate. Remitly is another affordable option at about $3 plus 1% markup. Traditional bank wire transfers are the most expensive at around $25 plus 2–3% markup on the exchange rate.

How much money should I bring when moving to Canada?

IRCC requires proof of funds for Express Entry: $13,757 CAD for a single applicant, $17,127 for a couple, and $21,055 for a family of three (2026 figures). In practice, newcomers to Vancouver should budget $5,000–$10,000 CAD beyond the minimum for first and last month’s rent, furniture, and initial expenses.

Do I need to declare money when entering Canada?

Yes. You must declare to CBSA (Canada Border Services Agency) if you are carrying $10,000 CAD or more in any currency (cash, cheques, money orders, or traveller’s cheques). Failure to declare can result in seizure of the funds and fines. There is no limit on how much you can bring — you just need to declare amounts over $10,000.

How does purchasing power differ between my home country and Canada?

Purchasing power varies significantly. For example, 100,000 INR buys roughly the same goods as $350 CAD in Vancouver, not the $1,626 CAD the exchange rate suggests. This means everyday items cost more in Canada relative to local wages in countries like India, Philippines, and Nigeria. Use our purchasing power calculator above for a personalized comparison.

Is it better to exchange money before or after arriving in Canada?

It is almost always cheaper to exchange money after arriving in Canada using a service like Wise or Remitly (0.5-1% markup), rather than at airport exchange kiosks (3-5% markup) or your home country bank (2-3% markup). Bring only $500-1,000 CAD cash for immediate expenses (taxi, SIM card, first meal), then transfer the rest once you have a Canadian bank account open (typically day 1-2 after arrival).