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 looking for any opportunity to lower the cost of goods and improve profit margins. One effective strategy is sourcing products from international markets like Turkey.
But it’s not always easy. Shipping or transporting goods across borders can be complicated, especially without the right partner. We’ve put together this guide to help you navigate the shipping costs from Turkey to Canada, ensuring a smoother, more cost-effective experience.
Let’s start with the basics. There are a few specific things you’ll have to deal with when exporting goods from Turkey to Canada:
Let’s dig a little further into these requirements and the challenges that might pop up.
Businesses must prepare various documents and follow specific procedures to ensure a seamless shipping process, comply with all legal requirements, and avoid additional costs.
Before you ship anything from Turkey to Canada, you must obtain a business number (BN) from the Canada Revenue Agency (CRA). You need a business number (BN) before you can import or export.
A CI1 or commercial invoice details the transaction between buyer and seller, and includes:
It also includes a detailed description of the transportation method, route, and insurance involved in getting the goods to Canada².
The shipper and carrier use a bill of lading, for sea transport or air waybill, for air transport, as a shipment receipt and contract. It includes:
You’ll also need to include a manifest or cargo control document that reports your shipment to the Canada Border Services Agency (CBSA).
Canada has several restricted categories that can cause penalties, fines, or potential seizure at the border³.
Some consumer products⁴ must meet safety requirements before Canada allows them in.
The cost of shipping goods from Turkey to Canada can vary widely, depending on factors like:
For example, the Harmonized Sales Tax (HST) in Ontario—a combination of GST and PST—is 13%. Shippers would only need to pay the 5% GST rate for goods shipped directly to Alberta.
One of the best ways to reduce costs is by avoiding bank transfer fees or sky-high currency exchange rates. A multi-currency business account allows you to hold both Turkish lira (TRY) and Canadian dollars (CDN) at the same time.
If you do need to exchange currency, Wise offers themid-market rate with no hidden costs. That’s the same rate the banks get when trading between themselves, and the one you’ll usually see on Google.
This multi-currency business account also helps with automatic invoicing, batch payments, and fee transparency, meaning you can keep those margins thick and shipping costs down.
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.
Picking the right shipping company or freight forwarder for exporting from Turkey to Canada can make all the difference. While there are dozens (if not hundreds) available, not all of them will offer favorable rates.
Here are a few of the more reputable companies you can work with:
Tebadul is a trade and logistics company based in Turkey. It offers end-to-end importing/exporting services to help businesses navigate international trade.
Some of the services it provides are:
For shipping to Canada, Tebadul has several major points of delivery⁶:
Points of delivery | |
---|---|
Sea freight | Vancouver, Montreal, Prince Rupert, Halifax, Saint John |
Air freight | Toronto, Vancouver, Halifax, Abbotsford |
There are several categories restricted by the Turkish government, which Tebadul will not ship. These include⁷:
Al Fares Lojistik is a leading logistics company with a strong presence in Turkey. They offer a wide range of solutions, including:
They ship to most major Canadian cities, including Montreal, Toronto, Quebec, and Vancouver⁸. One of the most interesting parts of Al Fares Lojistik is that they will ship multiple sizes of marine containers, and consolidate shipments to lower costs.
DHL is one of the world’s leading logistics companies, with extensive experience in international shipping. Its global network ensures reliable, efficient delivery.
There are three main levels of service from DHL⁹:
DHL Express Worldwide | DHL Express 12:00 | DHL Express 9:00 | |
---|---|---|---|
Description | Delivery by end of next possible business day | Delivery before noon on next possible business day | Delivery before 9am on the next possible business day |
Money back guarantee | No | Yes* | Yes* |
Countries Covered | More than 220 | 85 | 34 |
Delivery Attempts | 2 | 2 | 2 |
Max. weight (not on pallet) | 70 kg | 70 kg | 30 kg |
Maximum quantity | N/A | 10 | 10 |
Max. pallet weight | 1,000 kg | Pallets not accepted | Pallets not accepted |
Max. shipment weight | 3,000 kg | 300 kg | 300 kg |
Max. pallet dimensions | 300 × 200 x 160 cm | Pallets not accepted | Pallets not accepted |
As one of the worldwide leaders, DHL has also published a comprehensive cost guide9. Here’s a look at their surcharges and customs fees:
Service | Cost in Turkey | You pay with Wise (CAD) |
---|---|---|
Additional handling: | ||
Overweight piece | 90 EUR/piece | 133.35 CAD/piece |
Oversize piece | 50 EUR/piece | 74.08 CAD/piece |
Non-stackable pallet | 250 EUR/piece | 370.42 CAD/piece |
Packaging items: | ||
Lithium batteries | 5 EUR/shipment | 7.41 CAD/shipment |
Excepted quantities | 5 EUR/shipment | 7.41 CAD/shipment |
Dry ice | 10 EUR/shipment | 14.82 CAD/shipment |
Other charges: | ||
Address correction | 10 EUR/shipment | 14.82 CAD/shipment |
Data Entry | 5 EUR/shipment | 7.41 CAD/shipment |
Customs broker notification | 790 TRY/shipment | 33.50 CAD/shipment |
Release to broker | 45 EUR minimum/shipment | 66.68 CAD minimum/shipment |
Bonded storage | 45 EUR/shipment/day | 66.68 CAD/shipment/day |
Bonded transit | 55 EUR/shipment | 81.49 CAD/shipment |
Export Declaration | 10 EUR/shipment | 14.82 CAD/shipment |
Multiline entry | 5 EUR per line after 5 lines | 7.41 CAD per line after 5 lines |
Permits and licenses | 20 EUR/shipment + cost of certificate | 29.63 CAD/shipment + cost of certificate |
These exchange rates are as seen on 12 June at 9am EDT.
There is also some local nuance to be aware of when shipping from Turkey to Canada. Here are a few things to keep in mind:
Remember, while shipping from Turkey to Canada can be a great opportunity, it also comes with a number of regulatory challenges. To keep costs low, and drive business growth, consider opening a Wise Business account to avoid hidden fees and inflated exchange rates.
Sources:
*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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