Wise Canada

Wise is an online money transfer platform available in more than 160 countries, offering customers the ability to send, spend and receive money in 40+ currencies through its website and mobile app. In Canada, the service is provided by Wise Payments Canada Inc, which is registered with FINTRAC as a Money Services Business, and in Quebec Wise also holds an MSB licence with Revenu Québec. Wise states that it uses the mid-market exchange rate for conversions and that customer funds are safeguarded and held separately from the company's own funds. For members of the Indian expat community in Canada, Wise offers a practical way to send money home to India. Users can enter the amount in Canadian dollars, choose an Indian recipient, and have the funds delivered to an Indian bank account or a UPI ID. Wise also highlights security features such as HTTPS encryption, two-step verification and fraud checks on transactions, along with a support team available to help with questions about transfers. Users should be aware of the service's limits: Wise does not permit investment or charitable transfers to India through its platform, so it is intended for personal and everyday remittances. Fees, exchange rates and transfer times vary and should be checked directly on the Wise website before sending. Expatskey lists this provider for informational purposes and does not offer financial advice.