This question has been asked a million times in discussion forums, as debates in the global finance ecosystem and even as mere contemplations in our heads, which is why we will be addressing it today. In a different article, we had already answered comprehensively, another popularly related question - ‘Is it cheaper to send money to India from Canada through banks or apps?’

So back to the question of today "Am I being overcharged by my bank for cross-border payments?" This is a question that lingers, even after we’ve stood at the counter, announcing to the cashier that we want to send money to India from Ontario or anywhere else in Canada.

If you’re an NRI, you're not alone in this. Many other Non-Resident Indians patronising banks have questioned the cost effectiveness of sending money from Canada to India via banks.

You might find this funny, but did you know that banks are often referred to as the dinosaurs of the financial world? They move slowly, charge hefty fees, and sometimes even use outdated technology. The joke goes that banks are like your grandfather who still thinks a rotary phone is cutting-edge.

Imagine that you’re comparing costs for a quick money transfer to India, and you discover that your bank’s fees are significantly higher than those of other money transfer providers. Outrageous, right?

It's like discovering that the price of your coffee has doubled overnight. In this digital age, where everything from grocery shopping to dating can be done online, why should you stick to old-school methods to send money to India? Let’s dive deeper and uncover the truth.

Are Traditional Banks the Best Way to Send Money to India?

When you think of sending money to India, banks might be the first option that comes to mind. But are they really the best choice? Traditional banks often charge a premium for international remittances.

The fees can be hidden in the exchange rates or slapped on as additional charges. It’s like paying extra for your coffee because the barista used “premium” water. But does the recipient taste the difference? Probably not.

Banks also lack the flexibility and speed of other global money transfer services. With banks, the process can be slow, almost as if they’re using a pigeon to deliver your money. In contrast, modern digital services offer real-time transfers, ensuring your money reaches its destination almost instantly. It’s like comparing a carrier pigeon to an express email.

Can You Trust Digital Services to Send Money to India?

Given the convenience and lower fees, you might wonder, “Can I trust these digital services to send money to India?” Absolutely! Digital money transfer providers have revolutionised cross-border payments and are still doing so, even today.

Moreover, sending money to India online through these platforms is incredibly straightforward. You can complete the transaction from your phone or laptop, without ever stepping into a bank. And with features like real-time transfers, you can track your money every step of the way. It’s like having a GPS for your cash.

Why Are Fees Lower with Digital Money Transfer Services?

It’s natural to be sceptical about lower fees. You might think, “What’s the catch?” The reality is, digital money transfer providers operate with lower overheads. They don’t have to maintain costly physical branches or deal with as much regulatory red tape. This means they can pass the savings on to you. It’s like getting a gourmet coffee at a street vendor’s price.

Additionally, these services are built for efficiency. They use advanced algorithms to find the best exchange rates and offer the lowest possible fees. So when you send money to India, you’re getting the best bang for your buck.

How Does Pesa Stand Out in the Crowd?

Among the sea of digital money transfer services, Pesa shines brightly. Why? Because Pesa understands the nuances of cross-border payments better than anyone else. We’ve streamlined the process to ensure your money reaches its destination quickly and securely.

Plus, our fees are very transparent, so you know exactly what you’re paying for. Pesa also offers the convenience of sending money to India online using any of our application platforms, including web. Whether you need to transfer CAD to INR online or handle other currency exchanges, Pesa has you covered. Our platform, as we have been commended, is user-friendly, making the whole process as smooth as a perfectly brewed espresso.

Why Choose Pesa Over Traditional Banks?

By now, it should be clear that sticking with traditional banks to send money to India would never trump cross-border payments like Pesa. It goes without saying, hence, that Pesa and other digital services provide more modern, efficient, and cost-effective alternatives for anybody looking to send money to India. So why settle for less?

When you choose Pesa, you’re not just opting for a quick money transfer to India. You’re choosing a service that prioritises your needs, offers competitive rates, and ensures your money gets to where it’s needed without unnecessary delays or hidden fees.

Another thing we often get commended about by our users is that Pesa is designed with the modern user in mind, making it among other currency exchanges, the fastest way to send money to India. Our platform is intuitive, allowing you to complete transactions swiftly and effortlessly. This is crucial when you need to know how to transfer money to India fast, without jumping through hoops or facing unexpected hurdles.

Even though modern day money transfers require speed, Pesa doesn’t just focus on ‘how fast’. It also focuses on giving you the best rates, giving it a rating as one of the best ways to send money to India quickly while getting the most value for your money. With Pesa, everything you see is exactly what you get.

In addition to providing the fastest way to move money across borders, Pesa also stands out when it comes to global remittances in general.

If you need to transfer CAD to INR online or are looking for the best apps to send money from India to Canada, our 4.7 star-rated Pesa app has you covered. Our services, using the app, which is both available in iOS and Playstsore are optimised for hassle-free international transfers, with zero bug interference, ensuring a seamless experience no matter where you’re sending money from or to.

Not much to be said, choosing Pesa means choosing efficiency and reliability. Whether you’re looking for the quickest way to send money to India or simply a reliable cross-border payment solution, Pesa offers solutions that are both fast and secure. By leveraging advanced technology and maintaining a customer-centric approach, Pesa ensures that your cross-border payments are handled with the utmost care and precision.

Is It Time to Make the Switch?

If you’re tired of being overcharged by traditional banks for cross-border payments, it’s time to make the switch. Explore the best digital money transfer providers and discover the ease and affordability of modern financial services.

In conclusion, if you’re contemplating cross-border payments, among other options that exists like Wise, Remitly, Zoom and Western Union, Pesa is the best when it comes to saving you money, time, and hassle. Ready to make the switch? Try Pesa today and experience the difference for yourself. Your wallet—and your peace of mind—will thank you.