We offer a cost-effective way to settle foreign currency denominated invoices. Whether a client needs a monthly run of CD cheques payable to various suppliers, or a lump sum purchase to increase the balance of a USD operating account, a better rate can't be found anywhere else. Mahyar provides a wire payment service where clients also receive free wire confirmations by email or fax. Business clients can also hedge their future CD payables with open-dated or fix-dated forward contracts.
Mahyar value to the foreign exchange process by providing clients with a banking alternative. Clients aren't obligated to convert their funds with their own financial institution. Those in the exporting business tend to convert their foreign currency revenues as needed to pay Canadian dollar expenses at month end. They may also hedge future revenue streams using open or fixed-dated forward contracts.
We work hard to streamline the exchange process, and offer a same day delivery/pick-up service. If you're going to be in the market, inform your account manager, and he or she can monitor the market for you.
In case you'd like to place a day-time or over-night order, you can keep up to date with the foreign exchange markets by subscribing to the The Currency Exchange (Mahyar) Foreign Exchange Daily Update. Each morning, you will be emailed the update consisting of a recap of the over-night trading range, economic data releases, technical support and resistance points, and an economic calendar of upcoming events.
3- Wire Transfer
Transfer money around the world with wire transfers.
If you are sending or receiving money within Canada or internationally, wire transfers can help. Once you have all the required information, come see us at any branch.
To trace a wire you have sent, visit or call us. There is a nominal fee for wire traces and they have to be done by the sending institution.
Wire transfers offer the following:
- speed and security
- available in more than 100 international countries
- offered in most cities
- reasonable fees
Sending or receiving a wire transfer requires certain information to satisfy our internal compliance requirements. These include regulatory requirements under anti-money laundering and anti-terrorist financing laws and regulations applicable to all Canadian financial institutions.
Information required to complete a wire transfer will be shared with third parties to the extent necessary. This includes the recipient's bank, any intermediary financial institutions involved in the process, and, where required by law, to authorities in Canada, such as the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC).
Electronic Funds Transfer Services
Helping you streamline and simplify your collections and disbursements
Electronic Funds Transfer (EFT) Services can help you:
- Improve your cash position
- Reduce administrative expenses
- Increase convenience
Whether clients are new immigrants from Asia, or C.A. citizens purchasing an investment property, the exchange rates we offer allow for significant savings.
We offer two recommendations:
- The client can set up both a USD and a CAD account at their Canadian bank. Once the USD funds have been wired from the U.S. bank into the USD account at the Canadian bank, they can withdraw the funds in the form of a bank draft made payable to The Currency Exchange (Mahyar). The client can contact the Mahyar trading desk and place a trade.
- The client can instruct their U.S. bank to wire USD funds directly to Mahyar. Typically, funds are received within one or two business days. Once the funds are received, a Mahyar trader contacts the client and arranges the conversion.
For Canadians looking to purchase property abroad, or foreigners selling Canadian property, Mahyar can assist in large volume foreign exchange. Once the exchange is made, Mahyar can also wire transfer funds abroad.
Ensuring you have right currency for your trip shouldn’t be something to stress about, no matter what you are travelling for. Be confident you are receiving the most competitive exchange rate with Mahyar Exchange.
Mahyar will set you up with the right currency for your destination. Mahyar carries over 30 different currencies on-site, and orders for currency take only a day or two.
If you have currency left over from your trip, simply sell it back to Mahyar.
Mahayr offers dependable service, no matter what your need or inquiry. Mahyar can help you set up a foreign account, organize wire transfers, and even direct you to some great resources for travel advice.
Being a student is stressful enough; Mahyar will convert your currency to Canadian hassle-free and at a more competitive rate than the banks.
Mahyar is also available to help you set up a bank account in Canada. Wire transfers can be arranged so money from your family goes directly into this bank account.
If you do not have a bank account, money from your family can be wired to one of Mahyar’ foreign currency accounts, and then given to you in cash.
If you are transferring tuition funds directly to your school through a bank, the Canadian exchange rate is set by the sending or receiving bank. Mahyar exchange rates average 25%-150% better than the banks, so you might be paying a lot more than you could be.
Tourist exchange rates typically vary due to the relationship you have with the place where you are exchanging your currency. If you are exchanging your cash in your local bank in Canada, prior to travelling overseas, chances are you will be awarded a more favourable exchange rate as the bank values your business and most likely has a sizeable reserve of the foreign currency in stock. If you decide to exchange your currency in a bank in a foreign country, or through a convenience store in a touristy area, it is much more likely that the tourist exchange rates that you will be offered will be marked up. We have a wealth of local knowledge that will help you get the most out of your holidays.
Since we don’t know who you are, we’re going to make a very broad assumption: you’re looking for any possible way to spend time in Canada, preferably permanently. we will help you find out what type of visa you might be eligible for. Mahyar has exquisite reputation among immigration consultants and real estate agents, and personalized service assists clients with the biggest decisions of their new life here in Canada.
Our exceptional team of immigration consultants, real estate agents, and financial services agents will facilitate transfer of your assets and assist you with your settling down.
Our knowledgeable consultants can assist you finding the best business that suits your needs either to fulfill your immigration needs or thinking about changing your path. we can help you make the best investment options.
Our financial consultants and real estate agents will make sure you get the correct information and vital service to understand and choose the best investments that suit your situation whether its Mutual Funds or choosing the right property.
Got a question? Don’t fit into any category?
Get in touch with our experts to get more information
Money laundering and Terrorist Financing have been recognized globally as serious threats to the financial industry. A comprehensive Compliance Regime is vital to ensure the protection of a business from the threats posed by both Money Laundering and Terrorist Financing. At Mahyar Currency we support our a Compliance Regime with an ongoing training program for all staff. In addition, Mahyar Currency retains a Chief Anti-Money Laundering Officer (CAMLO), a team of Compliance Officers and several other key senior management staff who together assist in the design and implementation of our programs and policies.
To provide the highest level of customer service Mahyar Currency has introduced methods to ensure we meet our due diligence requirements without disrupting the level of service we provide to our clients. Our Compliance Program addresses the requirements of Canada’s legislation, including the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA).
In accordance with the law, Mahyar Currency may be required to collect information from our clients during the course of a transaction. As part of regulatory obligations Mahyar Currency reserves the right to request identification for any transaction regardless of the type of transaction or specific amount exchanged.
Mahyar Currency invests in Fidelity Insights Investment Trust (the underlying fund), which aims to achieve long-term capital appreciation by investing primarily in equity securities of companies anywhere in the world, with an emphasis on U.S. securities, whose value is believed to be not fully recognized by the public. Mahyar Currency derivatives to try to minimize the exposure to currency fluctuations between developed market foreign currencies and the Canadian dollar.
Better Business Bureau
The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) is Canada's financial intelligence unit. Its mandate is to facilitate the detection, prevention and deterrence of money laundering and the financing of terrorist activities, while ensuring the protection of personal information under its control.
|BBB's Vision: An ethical marketplace where buyers and sellers trust each other.|