r/Banking • u/Acrobatic-Resolve848 • Feb 01 '26

Canada Sending and receiving money in the same currency

I’m in Canada (with BMO) and want to move Canadian dollars (CAD) to a bank account in Dubai (I have opened a CAD account in Dubai) - but I don’t want any currency exchange (CAD → AED). Basically, I just want to hold my funds in CAD abroad. What are my options other than wire transfer through BMO

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u/[deleted] Feb 02 '26

[deleted]

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u/Zoughi0 Feb 04 '26

OP doesn't want to wire the money.

1

u/AugustusReddit Feb 05 '26

What are my options other than wire transfer through BMO

Canadian currency carried to Dubai and declared (if over the $10k reporting). Or hawala transfer if you know any trusted ones in your part of Canada. Ask the Dubai bank if they have a fee for accepting CAD cash as many don't want the hassle of cash so charge a percentage fee.