Questions about how to prepare for your first arrival in Canada - customs, proof of funds, initial settlement help, etc... Tell us what happened when you first landed in Canada.
USD currency account native country
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Voldemort Posts: 3
Posted On: 9/10/2021
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Hi,
I own a USD currency account in my native country Pakistan and would like to know if I can open a bank account in Canada and transfer USD to CAD account?
I've tried getting in touch with banks such as Scotia bank which gives the convenience to pen a bank account after obtaining PR however it's quite a task to get through on their phone line.
Plus the challenge is I've read there's an indicative exchange rate from USD to CAD that could cost a fortune.
Is there a possibility to open a USD account from my home country in Canada after securing PR?
Any help or guidance or even if I could be directed to a source would be appreciated.
Best,
V
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Voldemort Posts: 3
Posted On: 9/15/2021
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Hi,
Can I get any answer for this query or any guidance from someone?
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Moderator Moderator Posts: 4075
Posted On: 9/15/2021
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Hi there,
Thank you for sharing your question and situation with us.
You may find helpful information in the Settlement.Org articles, How do I bring money into Canada (proof of funds)? and What should I consider when sending money overseas?
If you are looking to transfer money from your bank account to a Canadian bank account, you will need to speak with your financial institution before you come to Canada about currency laws and regulations in Canada and in the country you are leaving. There may be restrictions on the amount of money you can take out of the country. You may wish to contact Scotiabank by live chat or phone, you can find other ways to contact Scotiabank on their contact page.
We hope this information is helpful. Please feel free to follow up with us if you have any further questions.
Sincerely,
Your Settlement.Org team
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Voldemort Posts: 3
Posted On: 9/16/2021
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Thanks for the update. That's a great reminder about live chat at Scotia bank.
Much appreciated!
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Moderator Moderator Posts: 4075
Posted On: 9/16/2021
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Thank you for sharing your question with us, we are happy to help and are wishing you all the best!
Sincerely,
Your Settlement.Org team
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