Hello there,
I am moving to Canada in April as a PR. Currently I have opened a bank account in Canada from India and I use agents like bookmyforex etc.. to transfer funds to my account in Canada as most of the banks charges very high conversion fee. I talked with these agents and they told me that once I land in Canada I won't be able to transfer funds from my account in India to my account in Canada. They said I will have only 2 options then-
1. I transfer funds from my Indian account to any family member's account (who is not in Canada or pr) and then they can transfer funds using these service to my Canadian account.
2. I can use any bank to send funds to my Canadian account.
Does any one knows about this rule? What bank do you use to transfer funds as I checked ICICI changes almost 70-80 paisa more than Axis bank. Is there any other way to transfer funds after immigration without paying so high conversion rates?
Thanks in advance.
I am moving to Canada in April as a PR. Currently I have opened a bank account in Canada from India and I use agents like bookmyforex etc.. to transfer funds to my account in Canada as most of the banks charges very high conversion fee. I talked with these agents and they told me that once I land in Canada I won't be able to transfer funds from my account in India to my account in Canada. They said I will have only 2 options then-
1. I transfer funds from my Indian account to any family member's account (who is not in Canada or pr) and then they can transfer funds using these service to my Canadian account.
2. I can use any bank to send funds to my Canadian account.
Does any one knows about this rule? What bank do you use to transfer funds as I checked ICICI changes almost 70-80 paisa more than Axis bank. Is there any other way to transfer funds after immigration without paying so high conversion rates?
Thanks in advance.