What is the best way to transfer money from Pakistan to Canada.

[rescue1122]

Hi all,
I am in Canada and looking to buy a house. I need to transfer 100,000$ from Pakistan to Canada. What is the best way?
Bank to bank transfer would be expensive. I have also plan to visit back home in few weeks. If I personally get money with me, Will immigration officer enquire me about this at airport or not. If I personally deposit these money in bank will they ask me about it like from where did I get these money or not stuff like that?

 

[steaky]

When you say bank to bank transfer is expensive, do you mean there is no hsbc premier global transfer services in Pakistan so that you cannot transfer your funds in HSBC from Pakistan to Canada free of charges?

 

[rizmayo]

Hi all,
I am in Canada and looking to buy a house. I need to transfer 100,000$ from Pakistan to Canada. What is the best way?
Bank to bank transfer would be expensive. I have also plan to visit back home in few weeks. If I personally get money with me, Will immigration officer enquire me about this at airport or not. If I personally deposit these money in bank will they ask me about it like from where did I get these money or not stuff like that?

There is no restriction on the amount of cash you can bring into Canada as long as you volunterly declare it to customs (otherwise it is a crime). Also check the restriction on Pakistan side, I am certain you cannot carry the equivalent of that amount in Pakistani rupees in cash out of Pakistan, not sure how much foreign currency they allow.

Also I would not worry so much about answering where I got the money. The answer is simple sold property in Pakistan to buy property in Canada (that is really what Canada wants all its permenant residents to do )

Regards,

 

[rizmayo]

When you say bank to bank transfer is expensive, do you mean there is no hsbc premier global transfer services in Pakistan so that you cannot transfer your funds in HSBC from Pakistan to Canada free of charges?

Hi Steaky,

Not everyone has an HSBC premier account in both countries. They have certain minimum deposit requirements that are a bit ridiculous for the common man.

Regards,

 

[msaeed]

Hi all,
I am in Canada and looking to buy a house. I need to transfer 100,000$ from Pakistan to Canada. What is the best way?
Bank to bank transfer would be expensive. I have also plan to visit back home in few weeks. If I personally get money with me, Will immigration officer enquire me about this at airport or not. If I personally deposit these money in bank will they ask me about it like from where did I get these money or not stuff like that?

Sir

Open an US $ account in SCB
Get DD in your name , in small / denominations of US $ 10,000/- Manage these in 25 days
Safe and secure way to get it done

 

[Eshar]

Can you pls explain if you were successfull in transferring money from pakistan to canada, how long ago, through which bank and if it was wire transfer or some other way. Appreciate the help

 

[murtazajaffri_cca]

any updates?

 

[shazfa]

Has anyone have experienced in transferring the money from Pakistan to Canada recently? If yes then please share your experience. What is the best way ?

 

[smfaisal28]

I want to transfer CAD 42K from Pakistan to Canada , What is the best and safest way to do , anyone has done in recent days

 

[hussain-lala]

I want to transfer CAD 42K from Pakistan to Canada , What is the best and safest way to do , anyone has done in recent days

Did you manage the transfer?
I also need to transfer same amount and searching for legal channels which are cheapest

 

[hussain-lala]

Anyone please?

 

[steaky]

Did you manage the transfer?
I also need to transfer same amount and searching for legal channels which are cheapest

Like the other poster had said, what I think best is not for everyone!

 

[khan200us]

Whoever wants to transfer money from Pakistan, they must get a bank draft from a foreign exchange dealer(Known as money changer in local language). Some of them are Dollar East, Wallstreet, Pakistan Currency etc. The banks will not give you any foreign currency. The state bank of Pakistan only allows a person to open bank accounts in four foreign currencies(GBP, USD, EURO, Japanese Yen). Canadian dollars is not one of them. So, even with HSBC premier which has closed its operation in Pakistan in 2011, you cannot hypothetically move money in the form of Canadian Dollars.The only other and perhaps slightly expensive exercise is to open a HBL,MCB or Habib Metropolitan Bank in Canada and transfer funds through them within Pakistan. The currency exchange rate they apply makes them blood sucking Draculas. They are a bunch of jokers and I would never suggest you become a part of their circus! But the ultimate choice is yours.

 

[hussain-lala]

Whoever wants to transfer money from Pakistan, they must get a bank draft from a foreign exchange dealer(Known as money changer in local language). Some of them are Dollar East, Wallstreet, Pakistan Currency etc. The banks will not give you any foreign currency. The state bank of Pakistan only allows a person to open bank accounts in four foreign currencies(GBP, USD, EURO, Japanese Yen). Canadian dollars is not one of them. So, even with HSBC premier which has closed its operation in Pakistan in 2011, you cannot hypothetically move money in the form of Canadian Dollars.The only other and perhaps slightly expensive exercise is to open a HBL,MCB or Habib Metropolitan Bank in Canada and transfer funds through them within Pakistan. The currency exchange rate they apply makes them blood sucking Draculas. They are a bunch of jokers and I would never suggest you become a part of their circus! But the ultimate choice is yours.

Thanx dear
But I think there’s daily limit of DD. Perhaps it’s PKR 250,000.
You mentioned about HBL Canada. Do they have branch there?
I maintain HBL Account here in PKR

 

[khan200us]

Thanx dear
But I think there’s daily limit of DD. Perhaps it’s PKR 250,000.
You mentioned about HBL Canada. Do they have branch there?
I maintain HBL Account here in PKR

I am not aware of any daily limits. Go with the money changer. Such limits are created by bank staff who are mostly idiots and "parchi" based employees. Yes HBL and MCB and HMB are in Canada as far as I am aware of.