Transferring Money from Pakistan to Canada

[imrannust]

If the money is earn in pakistan & you had proof Canada government won't charge a penny as tax ........I sold my bahria town house in 2014 , show them the papers/deed & they wont apply any tax on my 100,000 US$ , just 33CAN$ for transfer to RBC Canada from pakistan , I had US$ account in RBC here , I am standard chartered Pakistan customer since 1999...... but

Sara k a n ger pana Pakistan may hay , salay kutay hainn , h ar mi mulq ko loot rahay hainn , or genuine people had to face all the hurdles , I need to give big danda to SCB Islamabad to proceed transaction.

You are right brother.. Sari munafiqat inn logon may bhari hay

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[xaini12]

Option A

Open a foreign currency account in any bank where you are comfortable--then deposit all the money there , bank will ask source of income so you give them papers of where you got the money
Now send a bank wire, same name pakistan account to same name canadian account, again show them papers. Thats a easiest way to do it
If you have money in pak rupees, change it into US$ from any money exchange, daily limit of 20k $ applies so you need to do multiple transactions over days

2nd option just go to money gram or western union office and they will do the wire for you in one shot for fees

Thanks

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[zainnm]

Did you manage to get this issue resolved, if so I would appreciate if the details can be shared.

[thepretender]

Hello Everyone,

Just wanted to know if someone could share the legitimate of transferring money abroad with bank or forex dealer charges. I visited Standard Chartered last week and they claim that they are no longer issuing travellers cheque / DD or anything.

[Panther]

To me the procedure seems very simple. I have a foreign currency account in a local bank and wanted to send across 5000 dollars to my daughter in UK. I just gave the bank manager a cheque for $5000 and my daughters bank details. The bank converted dollars to British pounds as per state bank rate and had the money transferred online. All process completed in about 30 minutes.

[chusmankhalid]

Which Local bank please ?

[Panther]

Meezan Bank. I am their premier customer.

[chusmankhalid]

if one has a PKR account in local bank. can he transfer the amount in Canadian Bank account.

[Panther]

No idea. You need to check with your banker

[tintin1]

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[chusmankhalid]

exchange rate and Bank fee would be the same in both the cases.

[tintin1]

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[pwuser156219571744]

i am buying a property in islamabad so i need to exchange a large sum of dollars. what's the best and safest way to do it? if i do it through bank they will give me much lesser exchange rate than a money changer but if i do it through a money changer, i will have to carry a large sum of cash to them which i don't feel secure doing it. can someone please guide me the best, most efficient & secure way of doing such transaction? i would really appreciate maximum input.

[Nabs]

If you have those dollars in bank account, then I would recommend bank encashment. Handling such huge sum of cash is extremely risky.

Different banks offer different encashment rate. I get best rate from Bank Al Habib, and worst rate from Standard Chartered.

Also, I am not sure about this, but I have heard that some money exchanges do offer deposit directly to your rupee bank account. You should ask your local money changers if they do so.

[hussain182]

i am buying a property in islamabad so i need to exchange a large sum of dollars. what's the best and safest way to do it? if i do it through bank they will give me much lesser exchange rate than a money changer but if i do it through a money changer, i will have to carry a large sum of cash to them which i don't feel secure doing it. can someone please guide me the best, most efficient & secure way of doing such transaction? i would really appreciate maximum input.

Please check PM