Sending money from abroad to Canadian spouse's bank account -Is it the only way?

[kazzy]

Hey Friends,
Just a quick question about sending money - thanks in advance to anyone who may be able to help me...

My husband is Korean and I'm Canadian. We are both presently in South Korea. He was approved as a Permanent Resident and we will be flying to Toronto in a few weeks.

My question is....How do we transfer our money from Korea to Canada? Is it possible to send our savings from his account in Korea to my bank account at CIBC with no questions asked? (The sum will be over 250 000 CAN).

Some of the money was earned by both of us and some was gifted to us from our wedding and from his parents.

Not sure how to move the money....The bank needs us to prove we earned it here with tax statements which we have....but that means we have to actually go in the bank and sign papers etc....before we leave and I'm the only one with a Canadian bank account.

How did others deal with this problem?

Thanks and Blessings!

 

[steaky]

Why don't you open HSBC premier accounts in both Korea and Canada, so that you can online transfer the money between the countries instantly without any hassles? You won't need to go to the bank and sign papers every time you want to transfer the money.

 

[kazzy]

Why don't you open HSBC premier accounts in both Korea and Canada, so that you can online transfer the money between the countries instantly without any hassles? You won't need to go to the bank and sign papers every time you want to transfer the money.

We have something like that now between CIBC and and Korean bank called KEB. We put the money in here and it goes to Canada instantly. But we are both in Korea now. So it would be impossible to open an HSBC account from Korea. We just want to send a large sum of money one time.

We are just worried about putting the money in MY account as opposed to him putting money in his own account (which he doesn't have yet). I know that he can bring money tax free into Canada as a new resident but are there any repercussions for me - when the money goes into my account? flags? etc...

 

[steaky]

I also banked with KEB "Korea Exchange Bank".