What’s the best way to transfer $30,000 from my Canadian bank account to my Japanese one?

My main bank in Canada says it can only transfer $2500 per day. Another bank in Canada says $6500 per day. Both seem like they will end up costing a lot in fees with multiple transfers. I looked into a service called “Wise”, but they won’t let me transfer since I reside in Japan. Any good ideas that aren’t too complex? Thanks for any help.

6 comments
  1. How big is your bank? If they are big enough they should have an international finance department where you can make large overseas payments. There is a lot of paperwork involved as they need to ascertain the source of the funds etc. But that would be the best way.

  2. The one option I’ve used is connecting my Wise account directly to my bank account (e.g. EQ, Tangerine). This should allow you to transfer about 25k in a single transfer. Unfortunately, not every bank supports this (e.g. RBC does not).

    An alternative is making a wire transfer but the smaller banks don’t usually support it and some/all of the larger ones require you to do it in-person unfortunately.

  3. Wise definitely works for Japanese residents.

    It’s that or some convoluted crypto option & risking your money disappearing into the ether.

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