Best way to bring money to Canada

[steaky]

But I live in Pakistan

ICBC have branches in Karachi and Islamabad.

http://karachi.icbc.com.cn/ICBCLtd/About%20Us/Global%20Websites/default.htm


and in many cities around the world!

 

[umar32085]

ICBC have branches in Karachi and Islamabad.

http://karachi.icbc.com.cn/ICBCLtd/About%20Us/Global%20Websites/default.htm


and in many cities around the world!

You solved my problem man! Thank you!

 

[NetMecca]

The bank with which you opened the foreign currency account, had operations in Canada as well, or was it your local bank?

There was no connection between the foreign and Canadian bank. No foreign operations. It was nerve wracking but it worked well enough

 

[shazfa]

Hi Guys,

For people came from Pakistan, could they tell me the limit as how much money you can take outside from the airport? i know for canada there is no limit only you have to declare but there is a limit to take from Pakistan.

 

[umar32085]

Hi Guys,

For people came from Pakistan, could they tell me the limit as how much money you can take outside from the airport? i know for canada there is no limit only you have to declare but there is a limit to take from Pakistan.

It's USD10,000.00

 

[abdulqayyum]

Hi,
I plan to travel for canda from pakistan. before i used to live in uae and my used uae bank to show my bank statement for PR. currently i'm in pakistan and planning to transfer the money from uae account to pakistani account, then just before traveling to canada, i can convert it to CAD.

1) i plan to carry cash around C$4k
2) will make a bank draft of around C$10k.

what you guys advise on it?

 

[Sherenk]

Hi,
I plan to travel for canda from pakistan. before i used to live in uae and my used uae bank to show my bank statement for PR. currently i'm in pakistan and planning to transfer the money from uae account to pakistani account, then just before traveling to canada, i can convert it to CAD.

1) i plan to carry cash around C$4k
2) will make a bank draft of around C$10k.

what you guys advise on it?

Looks fine. Just be sure that you have access to show your bank statement/funds online if need be.

 

[NetMecca]

The bank with which you opened the foreign currency account, had operations in Canada as well, or was it your local bank?

No connection between canadian and foreign bank. Had blunt discussions with my foreign bank about moving money before I left to make sure they understand that it will be happening and to make sure what processes need to be in place to minimise issues.

 

[maneetkochar]

nternational wire transfer to my Canadian bank.
-Closed my foreign bank account.

I did this.

-Brought enough cash with me to survive for a few weeks including hotel, car rental, food etc
-I kept my foreign bank account open, but let them know in advance that I will be transferring my cash to Canada and set that transaction up before I left.
-When I arrived I opened a local bank account as soon as possible.
-Activated the international wire transfer to my Canadian bank.
-Closed my foreign bank account.

Worked pretty well. Had no trouble.

I did leave someone in my home country with a power of attorney though to ensure that there is someone that could help out there if needed.

Good luck

Hi,

When you were carrying cash, did the officer at Canada airport ask you about the source of funds or receipts of currency?

 

[NetMecca]

Hi,

When you were carrying cash, did the officer at Canada airport ask you about the source of funds or receipts of currency?

Don't recall it ever coming up since I carried slightly less than $10k dollars. Expected to be able to transfer my money into a bank account within one week, which I was able to.

 

[Alex54321]

Hi,

When you were carrying cash, did the officer at Canada airport ask you about the source of funds or receipts of currency?

Not at customs. They just manually re-counted the money and stamped the declaration form. The Canadian bank was not happy to handle a lot of cash and asked a few questions about the source of the money.

 

[iamxty]

Hi,

When you were carrying cash, did the officer at Canada airport ask you about the source of funds or receipts of currency?

If you are worried, bring your latest statement or withdrawal slip in case they ask for it.

When carrying cash (includes traveler’s cheques, drafts, etc), you must also check the country of origin’s regulations on the export of money for both local and foreign currencies as you may also be asked to declare it and provide the source of fund if you are carrying more than the limit.

 

[yasirhusain]

Hi,

Is there anyone who has recently relocated to Canada? Can you please guide on how you moved money from Pakistan to Canada without carrying too much cash at the airport.

 

[rajababoo]

Another option if you were in the USA and have not completed landing yet:

We opened a TD Canada Trust Cross Border Account which included 2 Canadian accounts:
- Daily Checking Accout C$
- US$ Checking Account

When we returned to USA from short landing, we opened TD checking account ( yea TD is across USA as well as Canada )

Before heading out closed all non TD Usa accounts with cashiers check addressed to self and deposited to TD Usa account

Finally Wire transfer between TD usa and TD Canada trust US$ checking account for free. The money is available as US$ and can be converted to C$ at a later point in time for better rates. It has a daily max wire limit of 100$k

Close the TD Usa account when done transfering all money

Let me know what do you think

 

[Johnny Ghaddar]

Hi,

Is there anyone who has recently relocated to Canada? Can you please guide on how you moved money from Pakistan to Canada without carrying too much cash at the airport.

Hi Yasir, can you share your experience here. I am also relocating from Pakistan and need to know the process.

Thanks