Open bank account

[sato2]

Hi,
I have my immigrants visa stamp on the passport and ready to land.
Is there any way to open a bank account in Canada before landing and transfer my funds instead of taking cash.

Thanks

[Karlshammar]

Try contacting the individual banks and ask them.

[manianz47]

Hi

If you are in US, try CitiBank and HSBC. You can open an account prior to landing

[Karlshammar]

Make sure you open a Canadian and not a U.S. account, though.

Hi

If you are in US, try CitiBank and HSBC. You can open an account prior to landing

[toby]

But what's the rush? I am a citizen but don't think that made a difference.  I landed in Vancouver, made an appointment with a bank officer the next day, and in a half-hour had opened my account and had a debit card.

If you are planning to transfer money from your current bank account to the new Canadian one, see what your current bank requires for you to pre-autorize the transfer. In this case it might be [referable to open the Canadian account before leaving.

[sato2]

Hi,

Thank you guys! You got it right Tolby. The main reason is to transfer my assets and avoid carrying cash. I will be leaving the country I live in now for ever so I have to close my banks accounts and and so on.

Since you live in Vancouver could you recommend cheap hotel to stay for the first days,


Thanks again

[sato2]

Dear,

Can a bank statement from a Canadian bank be used as proof of funds at landing?
If yes, what is the best date to request the statement; one, two, or three months before landing day?

Thanks

[Suin]

the closer day to landing is better. I don't think it will ever be a problem if you use Canadian bank. many people transfer their funds to Canada before landing.

[job_seeker]

Dear,

Can a bank statement from a Canadian bank be used as proof of funds at landing?
If yes, what is the best date to request the statement; one, two, or three months before landing day?

Thanks

You can bring a bank draft from your bank in your country as proof of funds. Be sure to declare at the POE if it is more than CDN$10,000.00 you are bringing in with you.

[Suin]

bank drafts should be declared too? what about credit cards?

[Karlshammar]

Bank drafts yes, credit cards no.

bank drafts should be declared too? what about credit cards?

[Suin]

does the currency matter? I mean euros or US dollars?

[Karlshammar]

No, you have to declare that which is worth $10,000 or more, regardless of currency.

[Suin]

you mean the amount of money that equals 10.000 Canadian dollars?

[toby]

To Sato:

Sorry, I did not wee your question posted on 21 Nov until now.  Sorry, I don't live in Vancouver; I just visit my family once in a while, so I don't know of any cheap hotels. Just go on the Internet – maybe hotels.com or tripadvisor.com  .

A Canadian bank statement would be a good proof of funds available to you upon landing.  Date the statement close to the day of landing as possible; you might have drained the money since producing a statement three months previously.

To Suin: 

Yes, you must declare cash or “near cash” over $10,000 CDN on your person as you enter Canada.  A cashier's cheque is viewed as equal to cash. 

A credit card is not cash until used, so no need to declare it.  If you want to use the card as proof of funds, produce a printout that shows the credit limit and current balance.

A bank transfer is not considered to be cash on your person. The bank in Canada will verify the source of the funds, maybe even demanding some documentary proof. So, no need to declare this transaction at the border. If you want use the transfer as proof of funds, produce a copy of the bank order form when you make the transfer, and/or produce an online bank statement showing the funds newly-arrived in your Canadian bank account. This documentation looks better, more convincing, if you print in high-quality colour.  Looks like the real thing.