A closer look at Shopify’s multi-currency features in Canada
This article will go over how the multi-currency payments system works, how to set it up, and how you can use it with Wise to grow your business
Canadian business owners are always looking for affordable ways to import products. Did you know, one of the most popular imports for Canadians is Pakistan? However, incorrect navigation of logistics when shipping from Pakistan to Canada can overwhelm and rack up expenses.
We've assembled this guide to assist you in understanding the process and identifying some of the most reliable shipping options, along with Wise as a solution for your international business payment needs.
Some items that cannot be shipped from Pakistan to Canada include:
Remember, some courier companies may have their own shipping restrictions, including limits on perishables, weight, or size. Always verify with your selected courier before shipping.
The weight, size, and shape of your goods, as well as the mode of transportation (air/sea/land), determine the cost of shipping goods from Pakistan to Canada.
You may also need to consider additional costs like
It's important to research and compare different shipping options to find the most cost-effective one for your business. This will help you save money and keep your overall expenses down.
One of the best steps to reduce costs on transactions between Pakistan and Canada is to open a multi-currency business account. Having Canadian dollars (CAD) and Pakistani rupees (PKR) in one account eliminates the need for multiple currency conversions and associated fees.
With Wise, you can enjoy automatic invoicing and batch payments, making the process more efficient and cost-effective. Using a multi-currency account with Wise Business allows you to take advantage of the mid-market exchange rate, which you usually see on Google. This means you will have no hidden fees or unfair conversion rates.
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Please see the Terms and Conditions for your region and visit our pricing page for the most up-to-date pricing and fee information on Wise products.
FedEx is a global courier and shipping company with over 50 years of experience. They offer a wide range of services, including international shipping from Pakistan to Canada. FedEx offers express delivery options, making them an ideal choice for industries where speed is crucial.
You can use the calculator on FedEx’s website to calculate timelines and rates for shipping by inputting packaging type, number of packages, size, shipping date, etc. For shipping from Pakistan to Vancouver, however, you should note that they only allow you to use FedEx International Priority Freight and will only tell you the shipping time frame up front.
DHL is a global shipping company with operations in over 220 countries and territories. For Canadian businesses importing from Pakistan, DHL is an excellent option as they have a strong presence in both countries. They also have experience handling various goods like textiles and handicrafts.
DHL offers three import/export services between Canada and Pakistan. Here’s what they look like:
DHL Express Worldwide | DHL Express 12:00 | DHL Express 9:00 | |
---|---|---|---|
Money-Back Guarantee | No | Yes | Yes |
Countries Covered | 220+ | 78 | 27 |
Delivery Attempts | 2 | 2 | 2 |
Max. Weight (Not On Pallet) | 70 kg | 70 kg | 30 kg |
Maximum Quantity | - | 10 | 10 |
Max. Pallet Weight | 1,000 kg | No pallets | No pallets |
Max. Shipment Weight | 3,000 kg | 300 kg | 300 kg |
Max. Pallet Dimensions | 300×200x160cm | No pallets | No pallets |
Here are the costs of some of their services in USD and CAD:
Service | Costs | You Pay With Wise (CAD) |
---|---|---|
Additional Handling: | Overweight Piece: USD 105/piece | CAD 144.28/piece |
Oversize Piece: USD 50/piece | CAD 68.70/piece | |
Non-Stackable Pallet: USD 300/piece | CAD 412.22/piece | |
Packaging Items: | Plastic Flyer Stack: USD 20/stack (100 flyers) | CAD 27.48/stack |
Bulk Packaging: variable | variable | |
Address correction | USD 12/shipment | CAD 16.49/shipment |
Data Entry | USD 10/shipment | CAD 13.74/shipment |
Broker Notification | USD 4/shipment | CAD 5.50/shipment |
Release to Broker | USD 4/shipment | CAD 5.50/shipment |
Bonded storage | USD 5/shipment + USD 0.10/kg per day after 3 calendar days | CAD 6.87/shipment + CAD 0.14/kg |
Export Declaration | USD 12/shipment | CAD 16.49/shipment |
Multiline entry | USD 6/line after 5 lines | CAD 8.24/line |
Permits and licenses | USD 50 + cost of certificate/shipment | CAD 68.70 + cost of certificate/shipment |
Exchange rates as seen on Wise on June 13 2024, at 3:42 pm EDT
UPS (United Parcel Service) is a well-known shipping company that operates globally, including Pakistan and Canada. They offer various services for businesses of all sizes, making them a popular choice for shipping from Pakistan to Canada.
UPS is not upfront about their costs, but here are quotes from their website on some of the services they offer for large volume shipping:
While this may be obvious, you should be mindful that Pakistan has a different business culture and operating schedule compared to Canada. For instance, businesses and logistics providers in Pakistan may not operate on public or regional holidays, which can lead to shipping delays.
It's crucial to factor in these holidays when planning your import timeline. It's also important to communicate with your supplier in Pakistan to ensure they are aware of any potential delays and can plan accordingly.
We hope this guide enriched your understanding of cost-efficient product shipping from Pakistan to Canada. By following these tips and using Wise for your international payments, you can save time and money while expanding your business globally.
If you have any further questions or need assistance with your international payments, feel free to contact our friendly customer support team. We're always happy to help you with your cross-border business needs. Happy shipping!
Sources:
Sources verfied on 25 June 2024
*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
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