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transfer large amount from Canada to abroad

sara_H_JDT

Star Member
Dec 28, 2019
99
15
Hello
For Large transfer to abroad or transfer between bank account ,Is it compulsory to explain why you transfer?
In clear word , Does anyone ask you why you transfer for example 200.000 CAD$ to another account ?
Thanks
 

steaky

VIP Member
Nov 11, 2008
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Hello
For Large transfer to abroad or transfer between bank account ,Is it compulsory to explain why you transfer?
In clear word , Does anyone ask you why you transfer for example 200.000 CAD$ to another account ?
Thanks
Depends on the bank.
 
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sara_H_JDT

Star Member
Dec 28, 2019
99
15
Depends on the bank.
As much as I know , Rules are same along all finance Institutes
Could you please little bit expand your words and explain more ?
And always should have a logical reason to transfer?

Thanks in advance
------------------------------------------------------
 

steaky

VIP Member
Nov 11, 2008
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Rules are not the same for all financial institutions. Financial Institution A might require you to state the reason for transfer (reason such as for savings or repaying loans), whereas Financial Institution B have no requirement to state any reason.
 
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sara_H_JDT

Star Member
Dec 28, 2019
99
15
Rules are not the same for all financial institutions. Financial Institution A might require you to state the reason for transfer (reason such as for savings or repaying loans), whereas Financial Institution B have no requirement to state any reason.
Thanks for your complete response and clarification
Just for last query I am keen to know know 1 stuff ,please help on this too,thanks in advance
reason (by talking or writing) Must convince someone to accept transfer ? I mean Is it possible you want to transfer to currency exchange for abroad reason ,but they(bank) won't accept ,but in other hand , you want to transfer to charity ,but it acceptable?
My question is How much your reason should be accurate and for what types of reasons it might be prevented for transferring?

Regards
 

steaky

VIP Member
Nov 11, 2008
9,821
629
Job Offer........
Pre-Assessed..
Thanks for your complete response and clarification
Just for last query I am keen to know know 1 stuff ,please help on this too,thanks in advance
reason (by talking or writing) Must convince someone to accept transfer ? I mean Is it possible you want to transfer to currency exchange for abroad reason ,but they(bank) won't accept ,but in other hand , you want to transfer to charity ,but it acceptable?
My question is How much your reason should be accurate and for what types of reasons it might be prevented for transferring?

Regards
It depends what banks you are dealing with. Contact your bank.