What is the best way to send large amounts of money to India?

I need to send $ 10,000 Canadian to India. What is the best way to do so? Western Union? And if so, will agent locations in India have the cash on hand, or will they simply issue the receiver a cheque to take to a bank? Should I just wire it directly to the bank in India?

3 Replies to “What is the best way to send large amounts of money to India?”

  1. You cannot send that much via Western Union. You will need to do a wire transfer from your bank account in Canada to the recipient’s bank account in India. Do not attempt to deal in cash with such large sums.

  2. Because of anti-Terror laws money transfers over a certain amount (in the US it is $ 10,000) will cause you to give declarations as to what the money is for, so first check Canadian law for limits on transfers and reporting requirements so you don’t get into trouble.
    Then after you have done that please use regular banks, even if they charge slightly more, there will be a paper trail and sense of safety.
    The Bank will also answer all your questions about access to the person whom you are sending it to.

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