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Originally posted by confused albertan

If I have to receive money from India, what is the usual procedure? Which bank one has to go to India? can they take draft? Is any documents to be shown? can they send in indian rupees and can we give it to our bank and convert to canadian dollars? Is western union a good choice? what is the fastest way? I understand one has to declare with CBSA if it is more than $100000? Is this yearly limit or each time limit?
Any help appreciated?

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What an appropriate user name.

Please follow this http://canadiandesi.com/read.php?TID=17812&page=1#102663 and you will get most of the answers.

However, some quick answers would be as follows:

The money should come through Proper Banking Channels. It could be Western Union or any bank and you can have telegraphic transfer or a demand draft. If you are getting a draft, make sure to ask your relatives or parents to get the draft in Canadian Currency and drawn on a bank in Alberta and not in US Dollars or drawn on any bank in US. Now a days they have most of the international banks in India such as AMRO ABN, SCOTIA BANK, HSBC etc. who have branches in Canada as well.

They can not send in Indian Rupees here. It has to be in a convertible currency and it would be better if it is Canadian Dollars so that you do not have to pay exchange twice and wait for funds.

What is CBSA? You have to declare on your tax return, if you own property
worth more than $100,000 any where out side Canada.

If your parents are sending you money as GIFT, there was a limit of $100,000 every year earlier (which could still be the same but you will find more information on Reserve Bank's website if you follow the link pasted above) ask them to send you a GIFT letter as well. You may need the same in future.

Good Luck.