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Canada Immigration Forum > Immigration Topics > Skilled Worker / Professional Immigration > Topic: Carrying settlement funds to Canada
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Author Topic: Carrying settlement funds to Canada  (Read 805 times)
hope73
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« on: August 23, 2011, 10:04:26 am »
Hi,

    We are a family of three members from India. As per the new guidelines, the settlement funds required to show at the POE is CAD 17011. I plan to carry traveller cheques. Is that good option ? or can anyone suggest a better one?

In India, can I purchase traveller cheques for the above amount without any limitations?

Please throw some light.

Thanks
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sonea
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« Reply #1 on: August 23, 2011, 10:28:14 am »
its really confusing i think we should stick to "carry cash" only..
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Chami
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« Reply #2 on: August 23, 2011, 10:36:02 am »
I'd rather take one draft instead of Trav. CH-s, which involves lots of signing when you purchase and when you cash after too. But it's totaly up to you...

Chami
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hope73
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« Reply #3 on: August 23, 2011, 11:23:14 am »
I wonder how much foreign currency in cash we can carry from India.
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mitali
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« Reply #4 on: August 23, 2011, 11:32:48 am »
Quote from: hope73 on August 23, 2011, 11:23:14 am
I wonder how much foreign currency in cash we can carry from India.

$5000USD as per RBI guidelines

http://www.canadavisa.com/canada-immigration-discussion-board/query-driving-license-proof-of-funds-electornic-goods-from-india-t80452.0.html;msg947875#msg947875
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EnvioZA
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« Reply #5 on: August 23, 2011, 11:34:50 am »
Quote from: sonea on August 23, 2011, 10:28:14 am
its really confusing i think we should stick to "carry cash" only..
Is there any documents ( bank statement etc) needed for the cash I will carry? Or I just declare the amount at the POE to customs officer and fill the amount in form.Please reply.
Thanks in advance.
zahed
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Dr.Hasib
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« Reply #6 on: August 23, 2011, 11:36:46 am »
Quote from: EnvioZA on August 23, 2011, 11:34:50 am
Is there any documents ( bank statement etc) needed for the cash I will carry? Or I just declare the amount at the POE to customs officer and fill the amount in form.Please reply.
Thanks in advance.
zahed
dear zahed bhai,
pls check the below link :
http://www.canadavisa.com/canada-immigration-discussion-board/-t39318.0.html
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EnvioZA
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« Reply #7 on: August 23, 2011, 12:08:53 pm »
Quote from: Dr.Hasib on August 23, 2011, 11:36:46 am
dear zahed bhai,
pls check the below link :
http://www.canadavisa.com/canada-immigration-discussion-board/-t39318.0.html
Dear Dr. Hasib,
Quick response...thanks a million..
All the best.
Regards,
zahed
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thomas78
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« Reply #8 on: August 25, 2011, 09:00:18 pm »
hi..

i arrived recently.. i bought in the form of bank dollar draft , cash and travellers card.....

draft and cash would suffice...
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hope73
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« Reply #9 on: August 26, 2011, 12:23:55 am »
Quote from: thomas78 on August 25, 2011, 09:00:18 pm
hi..

i arrived recently.. i bought in the form of bank dollar draft , cash and travellers card.....

draft and cash would suffice...

Hi,

  Thanks for your reply. If I have to carry in the form of bank draft, on whose favour the draft has to be purchased? 'cause I dont have any account there.

Also, which bank you suggest that offers best facilities for the immigrants? ( I heard of Scotiabank )

 
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xenos
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« Reply #10 on: August 26, 2011, 12:39:51 am »
Quote from: mitali on August 23, 2011, 11:32:48 am
$5000USD as per RBI guidelines

http://www.canadavisa.com/canada-immigration-discussion-board/query-driving-license-proof-of-funds-electornic-goods-from-india-t80452.0.html;msg947875#msg947875



Is 5000 USD per individual? Can someone clarify please.
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Cappuccino
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« Reply #11 on: August 26, 2011, 05:16:12 am »
Quote from: sonea on August 23, 2011, 10:28:14 am
its really confusing i think we should stick to "carry cash" only..

I don't think it's a good idea to carry that amount of funding ($17,000+) in actual cash. What if you are mugged/robbed on the way to the airport?

At least with traveller's cheques they are insured and you can get the money bank if they are lost or stolen.

I would strongly advise people only carry small amounts of real cash, for safety's sake.

Wayne.
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« Reply #12 on: August 26, 2011, 05:23:13 am »
Guys
 I am also confused about taking funds.
can I make a draft on my name in CAD from India and deposit after opening the account in Canada?
Is it possible to make draft before opening account in Canada?
pls suggest

thanks
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yukon
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« Reply #13 on: August 26, 2011, 05:24:05 am »
Quote from: xenos on August 26, 2011, 12:39:51 am
Is 5000 USD per individual? Can someone clarify please.


While emigrating from India you can carry 100,000 USD equivalent currency per person in your family as per RBI (Reserve Bank of India) regulations.

Quote from: sonea on August 23, 2011, 10:28:14 am
its really confusing i think we should stick to "carry cash" only..

Do not carry more then 1000 $ or so in cash it is NOT SAFE. As other members have suggested, you can take your money either in Demand Draft, TC, Pre-paid Visa traveler card or best is to open an account with Scotia Bank in India itself & transfer your money into it. The account gets activated in Canada once you physically present yourself at any branch in Canada.
Check these links:

http://www.scotiabank.com/cda/content/0,1608,CID19_LIDen,00.html
http://www.scotiabank.com/startright/landing-page.html
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shijoal
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« Reply #14 on: August 26, 2011, 05:35:02 am »
Quote from: davidjn on August 26, 2011, 05:23:13 am
Guys
 I am also confused about taking funds.
can I make a draft on my name in CAD from India and deposit after opening the account in Canada?
Is it possible to make draft before opening account in Canada?
pls suggest

thanks


my friend in india

you can open a account in scotia bank ,when u r in india. then u can tranffer the amount to the canadian branch.  shijoal
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