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WAys of transferring money from Pakistan to Canada

satd.

Member
Aug 20, 2011
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0
Hello

We are planning to buy a house here in Canada. My father in Pakistan wants to send me money to help me do the downpayment. Amount is around 70k. Can someone guide me how it will work out?

Thanks
 

carolbb23

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They can transfer it through your Canadian bank account or money order through his bank and fed ex it
 

satd.

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carolbb23 said:
They can transfer it through your Canadian bank account or money order through his bank and fed ex it
Do i have to inform the bank in advance that my father is sending me money? Is the amount taxable?
 

carolbb23

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Yes and I doubt it is taxable since it's a gift or call your bank and ask or money order through your father bank
 

carolbb23

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I do not think it is taxable since it's a gift I suggest you do call the bank and ask or money order through your day bank through register mail like ups
 

satd.

Member
Aug 20, 2011
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carolbb23 said:
I do not think it is taxable since it's a gift I suggest you do call the bank and ask or money order through your day bank through register mail like ups
Thanks. I will call my bank tomorrow to find out.
 

torontosm

Champion Member
Apr 3, 2013
1,677
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satd. said:
Thanks. I will call my bank tomorrow to find out.
You can transfer it through any bank, and it is not taxable as it is a gift. If you wish to receive the funds sooner, you can open an account at Habib Canadian bank and to an intra-bank transfer from Pakistan.
 

satd.

Member
Aug 20, 2011
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torontosm said:
You can transfer it through any bank, and it is not taxable as it is a gift. If you wish to receive the funds sooner, you can open an account at Habib Canadian bank and to an intra-bank transfer from Pakistan.
Thanks for your advice.
Could you please let me kniw which bank in Pakistan will do an intra-bank transfer to Habib Canadian bank?

THank you
 

torontosm

Champion Member
Apr 3, 2013
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satd. said:
Thanks for your advice.
Could you please let me kniw which bank in Pakistan will do an intra-bank transfer to Habib Canadian bank?

THank you
Habib Canadian is owned by Habib Bank AG Zurich, so that would be the easiest route.