Proof of Funds

[manianz47]

Hello Experts

Can someone provide a Canadian Bank here (in USA) with which I can open an account ?
Can I show a statement form this Bank as Fund Proof with Immigration ?
Can I open an account in Canada (once I land) with the same bank immediately

Your help please

[Leon]

A statement from a US bank should be ok.  The biggest banks here are CIBC, RBC, Canada Trust, BMO, Scotiabank, don't think I am forgetting anyone.  Every province also has some local smaller banks.  The only bank I can think of that is in the US also is HSBC unless you have heard of one of the other ones I mentioned.  Their US website here: http://www.us.hsbc.com/1/2/3/personal?home=personal and Canada website here: http://www.hsbc.ca/1/2/en/personal/personal-home

[manianz47]

Hi Leon
Thank you very much for the immediate response

I will check the site

Is CitiBank a good choice (I currently have account with them) ?

For the immigration, is it enough if I show a statement from my US Bank ?

Regards

[Leon]

We have citibank here, see http://www.citi.com/canada/homepage/english/index.jsp so maybe you can just stay with them if they have a branch that is in a convenient location for you.  I have never heard anything about them here.  I have heard bad things about CIBC, some people have had bad experience with RBC too.  A lot of people are happy with Canada Trust and BMO.  I went cheap and switched my account to a grocery store.  They offer free checking, unlimited free debit transactions (interac), no monthly fee, good interest rates.  Only catch is no branches so you have to do all your banking through telephone or online.  If you want to check them out, see http://www.pcfinancial.ca/

[manianz47]

Hi Leon
Thanks again for an informative response

Let me check with CitiBank here and findout how easy or difficult to Open and transfer money to a Canadian Brach

[Suin]

If I have funds in my local State bank that is in Europe, will it be ok as a proof for my application as a skilled worker?

[Leon]

Yes, it should be ok.  You can ask the bank to write you a letter of how much money you have in there in CDN$

[travelwestman]

If I understand your question correctly: you are forseeing customs asking for proof of your financial status re: bank accounts and funds? If the answer is yes it would be pertinent to also bring other forms of proof where you live, tax returns, etc..the more the better. Their fear is people entering the country and staying to take jobs or partake in illegal escapades. Good luck.

[Suin]

And if someone has a real or movable property might it be considered as a proof of funds?