Nova Scotia Bank Account from New Delhi as proof of funds

[DELHI INDIAN]

Dear Seniors,

Can you please suggest if I can open Nova Scotia Bank account in New Delhi, India and show statement as proof of funds to immigration officer. If yes, whar are the benefits of doing this over other means of taking funds to Canada.

Regards

[wilson]

Hi ,
CIC don't say any one can show bank statement while landing in Canada.

May be there are different opinions.

according to CIC website:

"How much money should you bring?

Find out how much it costs to live where you are planning to settle in Canada.

Bring as much money as possible to make moving and finding a home in Canada easier.
Disclosure of funds

If you are carrying more than C$10,000, tell a Canadian official when you arrive in Canada. If you do not tell an official, you may be fined or put in prison. These funds could be in the form of:

    * cash
    * securities in bearer form (for example, stocks, bonds, debentures, treasury bills) or
    * negotiable instruments in bearer form (for example, bankers' drafts, cheques, travellers' cheques or money orders).
[/b]

[DELHI INDIAN]

thanks wilson, I have spoken to nova scotia bank official here in delhi. As per her, this will be considered, however I will be issued debit card etc once I land there and visit the branch. Is any body having any practical experience on this?

[ankit_20]

When you got to Nova Scotia branch in Delhi, they will check your papers (PP+COPR) and send a request for opening a bank account to Canada. They will ask you to choose a branch in Canada. You will get a letter from Canada confirming your account opening in Canada. This takes 3-5 weeks.
Then you go to Nova Scotia Bank to do the Wire transfer to your account. You get a Statement after 2 days from Nova Scotia Bank that your money is already in Canada. This mode of transfer is acceptable at the port of entry. I and few friends that I know have used this method of bring POF to Canada. Though I have not heard anyone that Immigration officer asked for the POF statement

Can you please suggest if I can open Nova Scotia Bank account in New Delhi, India and show statement as proof of funds to immigration officer. If yes, whar are the benefits of doing this over other means of taking funds to Canada.
 

[DELHI INDIAN]

thanks Ankit for your reply. I just wanted to check if anyone actually used it.

[indira_prab]

We are exactly doing the same thing We opened Scotia bank accounts and wire transferred the money and have a very simple letter from the Scotia bank Indian branch, confirming the transfer. We have the original letter confirming the account details from Mississauga too, so we should be OK.

Thanks,

Indira Prabhakaran.

[DELHI INDIAN]

thanks indira

We are exactly doing the same thing We opened Scotia bank accounts and wire transferred the money and have a very simple letter from the Scotia bank Indian branch, confirming the transfer. We have the original letter confirming the account details from Mississauga too, so we should be OK.

Thanks,

Indira Prabhakaran.

[DELHI INDIAN]

Dear Ankit/ Indira,

Bank is also issuing one credit card, is it beneficial to have a credit card for your credit history? Also, is it difficult for new comers to get credit card easily.

We are exactly doing the same thing We opened Scotia bank accounts and wire transferred the money and have a very simple letter from the Scotia bank Indian branch, confirming the transfer. We have the original letter confirming the account details from Mississauga too, so we should be OK.

Thanks,

Indira Prabhakaran.

[DELHI INDIAN]

Practically, how many days it actually takes to open this account, transfer funds and get letter from bank?

We are exactly doing the same thing We opened Scotia bank accounts and wire transferred the money and have a very simple letter from the Scotia bank Indian branch, confirming the transfer. We have the original letter confirming the account details from Mississauga too, so we should be OK.

Thanks,

Indira Prabhakaran.

[steaky]

Dear Ankit/ Indira,

Bank is also issuing one credit card, is it beneficial to have a credit card for your credit history? Also, is it difficult for new comers to get credit card easily.

Yes, it is difficult for new comers to get credit card initially.

[indira_prab]

Practically, how many days it actually takes to open this account, transfer funds and get letter from bank?

Took about 4 weeks for us. usually a month's time is a safe bet, but is possible to do in 21 days.

Thanks,

Indira Prabhakaran.

[ankit_20]

CC is a must for building credit history. Many banks like  RBC, TD, Scotia are giving CAD1000 limit CC to new immigrants with the account opening.

Dear Ankit/ Indira,

Bank is also issuing one credit card, is it beneficial to have a credit card for your credit history? Also, is it difficult for new comers to get credit card easily.

[ankit_20]

Give your self about 30 days. It can be done in around 20-25 days though

Practically, how many days it actually takes to open this account, transfer funds and get letter from bank?

[new_2_canada]

In reallitynI think, giving scotia bank statement in initial stage is not advisable, from what I understand Delhi Indian is trying to open an account with sctia and show it as POF, that is not right strategy as we do not know the outcome of the application, instead if one opens an account after getting the PR that is best and the statement is accepted at POE,

[DELHI INDIAN]

thanks new_2_Canada for your revert and concern.

However, we are not talking about proof of funds at initial stage,here we are talking about funds one needs to carry and show to immigration officer at the time of entry Canada.

In reallitynI think, giving scotia bank statement in initial stage is not advisable, from what I understand Delhi Indian is trying to open an account with sctia and show it as POF, that is not right strategy as we do not know the outcome of the application, instead if one opens an account after getting the PR that is best and the statement is accepted at POE,