What is wire transfer?

[fizalhr]

Hello:

can anybody tell what is wire transfer? actually i want to deposit 600$ in my canadian lawyers account..
how can i transfer this amount? which is the cheapest safest and fastest way to transfer this amount in canada..

Thanks in Advance...

 

[hasankhan27]

A wire transfer is a bank-to-bank transfer of money

You can send money from your own account to your lawyers bank account....it is a fairly simple process......just go to your bank and ask them, they will guide you. But the bank will charge you some money about $20-25 for this transfer

 

[sukhrajchahal]

it's the money you send through Telegraphic Transfer(T.T), it can be done in your own bank or nearest main branch of your bank

 

[billad]

wire is the old name and Telegraphic Transfer (TT) is the new term used in banking for transferring money from an institution to another institution

 

[fizalhr]

A wire transfer is a bank-to-bank transfer of money

You can send money from your own account to your lawyers bank account....it is a fairly simple process......just go to your bank and ask them, they will guide you. But the bank will charge you some money about $20-25 for this transfer

actually my father don't have dollars account i went to bank with my dad and they told me u cannot transfer this amount u need to open dollars account then u can transfer..

is there any way to transfer? plz plz help me out.

 

[billad]

actually my father don't have dollars account i went to bank with my dad and they told me u cannot transfer this amount u need to open dollars account then u can transfer..

is there any way to transfer? plz plz help me out.

Yes, you can go to any money exchange office, they do it as well. Dollar East UAN - 111 900 200 http://www.dollareast.com

 

[hasankhan27]

actually my father don't have dollars account i went to bank with my dad and they told me u cannot transfer this amount u need to open dollars account then u can transfer..

is there any way to transfer? plz plz help me out.

Yes this might be a problem.....i am not sure if they convert local money to dollars (by the bank themselves).....

My father had a dollar account and i needed to send the money in CAD, so the bank converted it themselves and then sent it.....but that is a different case.

I would suggest that if you are planning to study in Canada it would be advisable to open a USD account, i am sure you can do that with the $600 you have to send. You will need this account in future time to time

Otherwise ask any of your relatives or friends to do the transfer for you, you can pay them the amount in cash, it is not a very big deal

 

[ali449]

The best option for Pakistani student to have their accounts in standard charted or in barclays bank because if in case you dun have foreign currency account in Pakistan these bank will help you to convert your money in the required currency and then send to your bank around the world with 25$ dollar charges .So i guess this the best option for students .These banks have fixed fee for unlimited transfer so it ll also help us,As far as T.T is concerned it is more expensive and a bit unsafe to me ( Dats my personal opinion ) Because when you are going to transfer big money like 20 or 30 grands they ll charge you more .So donot go for unstable and unreliable options.

regards