I want to know how you did this as I am in the same situation right now and I need to be able to transfer my money but still don't have any clue how to do it.
Transferring money from UAE to Canada
- Thread starter ocean18
- Start date
Open an account in Canada. Transfer your money electronically from your original bank in your country. Someone suggested to use TransferWise. That's what I use as well.
I have opened an account in Canada in Scotia Bank but I can't seem to add as a beneficiary in my ENBD account so as to transfer the money to the account.
Are you trying to wire your money from your ENBD account to your ScotiaBank account? It might be difficult as they are most likely two incompatible banking systems. Hence people use websites/apps like TransferWise.
But the instruction received from Scotia Bank is to wire the money from my own bank bearing my name only and not from a third party account.
If you think this is beneficial for you? Wiring money through the bank will cost you more as they tend to get a bigger cut. Are both of your accounts in CAD or is there going to also be currency exchange?
I only suggest you to look at TransferWise, from my experience it is much faster, cheaper and more reliable than the old technology banking systems such as Canada has.
Make the best and safest decision for yourself.
Just out of curiosity which kind of account did you open?
I opened an account called startright account in Scotia bank and it is not a full blown account but an international account that can hold max 50k CAD and you can use as POF then once you land you have to go to a bank and create a checkin account then they transfer the money to the new account.
Is that also the same you did or you used a different route?
I opened a regular personal account in TD called "New to Canada" for newcomers when I came. I presented POF in my original country's bank account when applying for visa. Then it was easy for me to transfer any money through the app as you can only carry $10k on you in person I believe. And I did bring $10k cash on me when first coming.
You have an international account, that's interesting. Maybe that works better for you
You have an international account, that's interesting. Maybe that works better for you
For you it was pretty straight forward, for me leaving UAE and having to cancel my EID automatically I can't access my accounts again. so the best bet will be to take out my money and let it go before me.I opened a regular personal account in TD called "New to Canada" for newcomers when I came. I presented POF in my original country's bank account when applying for visa. Then it was easy for me to transfer any money through the app as you can only carry $10k on you in person I believe. And I did bring $10k cash on me when first coming.
You have an international account, that's interesting. Maybe that works better for you
Also there is no way the Dubai Immigration will allow me go with such cash even after proving ownership; I think my best bet will be to get this international transfer to work or I send the money to someone over there and get a print out of the account statement to show for POF if asked by the officer at the point of entry.
I have a friend who immigrated from Dubai, but I did not hear about this issue.
Can you clarify--you will leave UAE and move to Canada, but UAE will not "cancel" your citizenship--why would you need to cancel your EID? Why wouldn't you be able to access your accounts instantly? Shouldn't your country allow you to keep your account? For all you know there might be some emergency/different opportunity and you will return to UAE?
Ok I can see you don't know the UAE system works; your working and staying here and having access to all services is tied to a Visa issued by an office which the PRO cancels once you leave, the whole govt services are interconnected and once the visa is cancel you don't have any more access to these services.
so if you leave uae and move to Canada and they cancel your visa, then you can't access the funds, the only way to do this is to get your money out of the way and cancel your visa then move on.
Oh, that's interesting. I understand now why you need to transfer your funds before moving. I'd still look into some transfer-offering services and compare their fees. Looks like Wise works in UAE; https://wise.com/ca/send-money/send-money-to-united-arab-emirates. Anyways, good luck, hope it will work out for you without getting too frustrated in the process.
Hello All, people who have moved recently from UAE to Canada, can you please advise how you opened bank account in Canada from UAE? Also how you did youtr transfer your money? From account to account or via websites such as 'WISE' etc. Please assist as we are moving next month and dont have much time left.
In all these replies, I could not find one single person who tried to help others in a proper manner after sorting it out for themselves. Sigh! People who moved to Canada, and solve their issue of transferring money in efficient way should share their experience.
It seems transferring directly from ENBD to Toronto Dominion Account will be at low exchange rate.
Other option is transferwire, I guess.