FAQ

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Which Accounts can I send International Transfers from?

International transfers can only be sent from your CAD Chequing Accounts.

How safe/secure is my International Transfer?

Your international transfer is protected with AES 256-bit encryption, automated identity verification, anti-money laundering procedures, automated online checks, advanced anti-fraud safeguards and insurance coverage – all through a FINTRAC regulated entity.

Are there any fees for International Transfers?

Most transfers over $500 CAD are free. There are a few exceptions, noted below.
If the transfer is less than $500 CAD, a $2.50 CAD fee applies.
Few exceptions are transfers to INR, PHP, HUF, CZK, DKK, THB, KRW, AED, BHD, IDR, MYR, ARS, RON.

How does it work?

Open the Parama Mobile App, tap the “Deposit” button, select the account you would like the funds deposited to and enter the amount, take a photo of the front and back of the cheque, confirm the details and tap “Submit”. The funds will then be deposited securely into your account however will not be available for immediate use until the cheque has cleared.

What types of cheques can I deposit?

You can deposit cheques payable in Canadian Dollars and drawn at any Canadian Financial Institution. They must be payable and endorsed by you, the account holder.