So I have a question. when I landed in Toronto a few days ago I brought with me slightly over 10K CAD in cash and I declared it at the airport.
I opened a bank account and deposited the cash.
I’m wondering is it an issue to transfer the remaining 20k into my account now. Or do I need to declare somewhere?!
From what I read that I shouldn’t wire transfer more than 10k at a time?
Thank you for the reply.
What about all this I’m reading on the internet that the money will be reported? Was I supposed to declare when I first arrived? I declared the cash of course but this is money in a bank account so I don’t know.
Thank you for the reply.
What about all this I’m reading on the internet that the money will be reported? Was I supposed to declare when I first arrived? I declared the cash of course but this is money in a bank account so I don’t know.
Thank you for the reply.
What about all this I’m reading on the internet that the money will be reported? Was I supposed to declare when I first arrived? I declared the cash of course but this is money in a bank account so I don’t know.
Banks are required to report transaction over $10,000. This is to root out money laundry. If your money is coming from a legitimate source, then you have nothing to worry.
As above banks are duty bound to report but the authorities are really only interested if there are significant regular amounts which they may or may not follow up. New immigrants transferring assets should have nothing to worry about.
Yeah. It’s my hard earned money I was working two jobs back in Saudi Arabia before I come here .
I was just concerned if I should have declared it at customs.
Ok thanks everyone.
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