Originally Posted by
YariGuy
The info they gave could be wrong, but I specifically asked and they said there's no annual limit, just the daily $500 limit.
When I tried to do this 10 years ago with BoC, I ran into the annual limit. I'd already done a large exchange using documents (which is unlimited in itself, but this pushed me much closer to USD50,000), afterwards I did a number of undocumented exchanges at USD500 per day at various banks, and got refused after a certain number of days because I'd reached the USD50,000 limit.