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Rule and limit on Wire Transfer
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thunsk Posts: 1
Posted On: 12/29/2019
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Hi,
I need to transfer quite a big amount of money out of Canada. Is there any rule or limit on such transfer?
Also, during my soft landing, when the officer asked me how much money I would bring to Canada, I got confused and gave her a small number which she wrote on my CoPR paper. Now before my permanent landing, I will transfer all my money which is a lot more than that number. Is it a problem? Whom should I inform this matter?
Many Thanks,
Thu
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Moderator Moderator Posts: 4075
Posted On: 2/28/2020
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Hello There,
Thank you for sharing your situation and question with us.
You may find useful information in:
How do I bring money into Canada (proof of funds)?
https://settlement.org/ontario/immigration-citizenship/landing-and-leaving/landing-in-canada/how-do-i-bring-money-into-canada-proof-of-funds/
Electronic Funds Transfer Reporting
https://www.canada.ca/en/revenue-agency/programs/about-canada-revenue-agency-cra/compliance/electronic-funds-transfer-reporting.html
If you have any additional questions, please feel free to post them here.
We hope this information is helpful.
Settlement.Org Team
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