Sending Money Home
You may have to occasionally send money home to support elderly parents or for emergencies. It’s good that you can help family abroad, however, do be mindful that it doesn’t affect your financial well-being negatively while you’re working hard to build a new life in Canada.
Here are some methods:
Bank draft – You go to your local bank to obtain one. You would then mail the bank draft to your relative back home. There may be a few weeks waiting period before your relatives are able to cash the bank draft.
Wire transfer – You can initiate this at your local bank or foreign exchange office by providing your recipient’s banking information. It can take up to a week for the money to arrive in the recipient’s bank account.
Western Union – You can walk into any Western Union with the money you would like to transfer. You will need to provide your recipient’s name and phone number (for physical pick up) or your recipient’s name and bank account info (for direct transfer into his/her bank account). The cash will be available for your recipient to pick up at any Western Union in the world, or it will be available in his/her bank account in about 30 minutes.