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Canada Immigration Forum > Temporary Entry Topics > International Students > Topic: Carrying Money??
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Author Topic: Carrying Money??  (Read 330 times)
KRAR99
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« on: December 19, 2011, 02:45:25 pm »
Hi,

I am coming from Karachi Pakistan. Can any one tell what is the best way to carry the tution fees which is to be paid to university later?
as it is a large sum carrying it along with us wouldnt be the best suggestion... can u guys suggest me some other ways?
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royalsting
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« Reply #1 on: December 19, 2011, 03:25:14 pm »
Quote from: KRAR99 on December 19, 2011, 02:45:25 pm
Hi,

I am coming from Karachi Pakistan. Can any one tell what is the best way to carry the tution fees which is to be paid to university later?
as it is a large sum carrying it along with us wouldnt be the best suggestion... can u guys suggest me some other ways?

I would suggest to carry it in the form of "Travelers Cheque" than any other form.
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nemo123
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« Reply #2 on: December 19, 2011, 03:36:12 pm »
I also wanted to know can i carry $5000 on board?
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KRAR99
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« Reply #3 on: December 19, 2011, 03:58:00 pm »
yes u can carry upto 10 k on board ... after that some tax issues comes in.. so i would suggest dont carry more then 10k.
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royalsting
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« Reply #4 on: December 19, 2011, 03:58:19 pm »
Quote from: nemo123 on December 19, 2011, 03:36:12 pm
I also wanted to know can i carry $5000 on board?

I suppose you are talking about cash.

There is no restriction over the amount of cash you can bring in with you to Canada, but amount over $10K have to be reported to Customs.
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royalsting
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« Reply #5 on: December 19, 2011, 03:59:55 pm »
Quote from: KRAR99 on December 19, 2011, 03:58:00 pm
yes u can carry upto 10 k on board ... after that some tax issues comes in.. so i would suggest dont carry more then 10k.


There is no such tax issue.  Only thing is anyone carrying funds above $10k will have to fill out a Cross-Border Currency or Monetary Instruments Report.  In short, one has to declare the amount that he/she is carrying if it is above $10k.
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KRAR99
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« Reply #6 on: December 19, 2011, 04:05:46 pm »
how is a traveler cheque different from bank draft?
 i am asking because my uni has warned me against bringing to them any bank draft Smiley
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nemo123
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« Reply #7 on: December 19, 2011, 05:13:13 pm »
 @ krar buddy what uni u applied at. can you tell me when you got your medical, visa and what date you applied cause i have done with my medical now just waiting for the visa. hope i get it Smiley
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rhasan
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« Reply #8 on: December 19, 2011, 07:16:43 pm »
Just bring some cash over here, open up a bank account and then transfer the rest of the money from your home country to here. DONE!
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nemo123
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« Reply #9 on: December 19, 2011, 07:29:08 pm »
you are right and I know about transferring money! well who doesn't!? I already have two accounts over there! but I wanted to bring 6grands with me on plane! as once lending ill have to pay for plenty of things! this includes my residence money with my transportation money!
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rhasan
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« Reply #10 on: December 19, 2011, 07:57:56 pm »
Quote from: nemo123 on December 19, 2011, 07:29:08 pm
you are right and I know about transferring money! well who doesn't!? I already have two accounts over there! but I wanted to bring 6grands with me on plane! as once lending ill have to pay for plenty of things! this includes my residence money with my transportation money!

Carrying 6 grands shouldn't be a problem at all. I myself carried that amount as cash. You just have to be careful not to put it with other docs that will be needed to be taken in and out. There's no risk in carrying cash as long as you are careful with it Tongue
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