Please enter your username and password here:Forgot Password?
Please enter your details here:or Login
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.
Sections in FINANCIAL CONSIDERATIONS IN CANADA:
» Money Transfers for Expats in Canada
» Foreign Exchange for Expats in Canada
» Banking for Expats in Canada
» Pensions for Expats in Canada
» Investment for Expats in Canada
» Wealth Management for Expats in Canada
» Property Investment for Expats in Canada
» Insurance for Expats in Canada
We value input from our readers. If you spot an error on this page or have any suggestions, please let us know.
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.
From your safety to shopping, living 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 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.
About | Useful Links | Global Media Partners | Media | Advertising And Sales | Banners And Widgets | Glossary | RSS | Privacy & Cookies | Terms And Conditions | Editorial Policy | Refer To A Friend | Newsletters | Contact | Site Map
Important Notice: Wolters Kluwer TAA Limited has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments. © Wolters Kluwer TAA Ltd 2017. All rights reserved.
The Expat Briefing brand is owned and operated by Wolters Kluwer TAA Limited.