Money Transfers for Expats in Canada

Submitted: September 2013

Canada does not impose any restrictions on money transfers to and from Canada.

The easiest way is transfer money to Canada is to have a Canadian bank account opened, and then to proceed with an international bank transfer. However, opening a Canadian bank account from overseas may happen to be a difficult task. Alternatively, you can withdraw money from an ATM in Canada and use the proceeds to open a bank account.
You may also consider requesting your bank to issue a cheque, which can then be cleared in an overseas bank account (from Canada to your home country, or from your home country to Canada). This process is quite lengthy though, and it may be expensive.

In any case, it is advisable to check if your financial intermediary is reliable enough, be it in terms of service quality or value for money.


Your bank is likely to charge you for international bank transfers and banker’s drafts, although fees may vary greatly. You might wish to check the applicable charges and restrictions at your bank.

Alternatively, you can use the services of a money transfer company. To save money, you can also use a price comparison website specialised in money transfers. Typically, your charges are largely passed on to the applicable foreign exchange rate. See Foreign Exchange for Expats in Canada.

The fees charged by a company specialised in money transfers are without prejudice to the fees that your bank may charge on transfers to the money transfer company.

Cash control rules

You are free to carry as much cash as you like when you cross the Canadian border. However, you must make a declaration to the Canadian customs authority if the amount exceeds C$10,000.

Cash control rules cover hard currency and negotiable instruments or securities, but not international wire transfers.



Moving to Canada

If you are considering moving to Canada or are soon to depart, you can find helpful information and advice in the Expat Briefing dedicated Canadian section including; details of immigration and visas, Canadian forums, Canadian event listings and service providers in Canada.


Living in Canada

From your safety to shoppingliving in Canada can yield great benefits as well as occasional drawbacks.  Find your feet and stay abreast of the latest developments affecting expats in Canada with relevant news and up-to-date information.


Working in Canada

Working in Canada can be rewarding as well as stressful, if you don't plan ahead and fulfill any legal requirements. Find out about visas and passports, owning and operating a company in Canada, and general Canadian culture of the labour market.



Canadian Expat News Headlines

Canadian Expat Service Providers

Global Tax Network (GTN) 1st Move International Expatriate Healthcare Integra Global Health Insurance Expat Financial

Canadian Expat Tools