How to transfer money from US bank account to Canada

#1

Greetings,

We have to move to Canada on PR in a couple of weeks. Now, I am in the US and working here since last 4 years on H1b visa. I have to transfer all my savings from US Bank accounts to Canada.

Now, the problem is, I have not visited Canada before and hence I have no bank accounts in Canada Yet. Also, I want to take all my savings to Canada, before I leave the US. Because, once I quit my Job and my H1b will be gone, after that I can have a tough time in coming back to US. So, I don’t want to take chances.

Can some one help or suggest me some legal ways to transfer my savings (it is much more than the transfer limit of $10k) from the US to Canada?

Thanks in Advance.

#2

Open an account with a Canadian bank form offshore. check the links below

https://transferwise.com/us/blog/opening-a-bank-account-in-canada

#3

I really appreciate your suggestion. But, isn’t there a limit on how much money I can transfer in a month from US Bank account to a Canada account.

#4

It is advisable to call up the bank and check with them. or email them and enquire about the limits on incoming fund transfer as different banks may have different limits. Additionally once you get the information from Canadian bank check with your bank in United States on how much fund you can transfer in a day