Exchange Rates for Proof of Funds at landing

[Prasad2008]

Hi Folks

One more question - to be sure that I have all bases covered....

I will showing my AUD bank statement as proof of funds at landing time....

What exchange rates will be used to calculate the CAD equivalent ?
Will this be the prevailing rate at time of entry ..ex. the rates at the Amex counter at the airport ?

Thanks
Prasad

[NewYorker]

You just convert approx and let the customs know how much in Canadian Dollars..

[Prasad2008]

Thanks for the response - Yp it went that way - I spread out my AUD bank statements and some traveller's checks in Eur - the officer asked me how much would that be in CAD - I gave the figure i had ready calculated and it was over....
All good
Regards
Prasad

[4771]

Based on your discussions, I don't need to prepare all the fund in CAD, do I? I am having a difficulty to get CAD in my country.

Also I have a problem to get travelers cheque. I am now thinking to take bank draft (cheques payable to myself), cash, recent bank statements, etc. but in USD.

Is it above OK?

[Prasad2008]

Any convertible currency is ok - USD is fine.
Regards

[nasim15]

Any convertible currency is ok - USD is fine.
Regards

Then if I take US$ 16580 (for 3 persons) instead of CAD 16580,it will do. Thank you. Because in my country also it is difficult to get CAD but USD is easily available.

But I can not take it officially as it is not permissible to take so much of FEX from the country.

[4771]

Thank you for the information. I will bring the fund in USD.

One more question, if I take bank drafts with me, can I change them to the CAD cash at any bank, or do I need to have already an account in a bank to do so? Sorry, I don't know the basic banking system, and am not completely sure if banks in Canada will accept bank drafts issued by a bank in other regions, say South America.

Thanks for your information!

[nasim15]

Thank you for the information. I will bring the fund in USD.

One more question, if I take bank drafts with me, can I change them to the CAD cash at any bank, or do I need to have already an account in a bank to do so? Sorry, I don't know the basic banking system, and am not completely sure if banks in Canada will accept bank drafts issued by a bank in other regions, say South America.

Thanks for your information!

You should have an account with a canadian bank.

[4771]

After looking for the banks which can issue travelers checks, I have found that no bank in Ecuador, where I currently live, issue traveler checks. So, the alternative options left are: cash or bank drafts. I don't have a bank account in Canada.

Here are my questions.
Is it wise to take the minimum proof of fund as cash with me?
Can I open a bank account immediately after landing in Canada so that I can deposit my bank drafts? If so, what documents do they ask usually, and which bank do you recommend in terms of maintenance fee, online banking feature? I am landing in Toronto.

Thank you very much for your input.

[nasim15]

You can open an account immediately after landing in Canada.