Currency transfer

Lifestyle Bazaar Talk
1

Hi guys

Has anyone transferred large amount of money from Pakistan to Canada? What is the best way to do this specially to avoid taxes etc? Pakistani rupee is not doing too well right now and Canadian dollar is getting stronger. Is it better to transfer it to Amerian dollar first and then to Canadian after few months as it is low becuz of election stuff?

2

from pak to canada...woops...sorry...no idea :D i thought u said canada to pak :p

3

thanks DMoo....seems like no one knows about this :(

4

check with the union bank in pak.. they apparently charge a flat rate of Rs 1000 for transfers. however, i think you do need to have an account in union..and if i am not wrong then they have a min limit too for the balance.

5

Re: Currency transfer

[QUOTE]
*Originally posted by Jal_Pari: *
Is it better to transfer it to Amerian dollar first and then to Canadian after few months as it is low becuz of election stuff?
[/QUOTE]

Doesn't work that way, plus you'd pay commission twice.

1 rupee = $0.1988 Canadian dollars

1 rupee = $0.01664 US dollars
$0.01664 US dollars = $0.1988 Canadian dollars

Come back to me in 2 months time. I'll be transferring almost all of my money from the UK to Canada and getting a tax accountant to help out with that - I should have a better idea by then of the optimal way to transfer money internationally to Canada.

6

If you want to send money you can do it through Western Union...they charge a small fee and u get the money the same day usually...

7

Re: Re: Currency transfer

[QUOTE]
*Originally posted by mAd_ScIeNtIsT: *

I'll be transferring almost all of my money from the UK to Canada and getting a tax accountant to help out with that - I should have a better idea by then of the optimal way to transfer money internationally to Canada.
[/QUOTE]

bara ameer banda hai bhai... Torontonians take note ;-)