Proof of 'Landing Funds" >>>

[canada100]

Thank you my friend

qorax, so does this mean they will be satisfied as long as we have the DD for the stipulated amount at the time of landing and they don't call the banks??? many tx

[qorax]

qorax, so does this mean they will be satisfied as long as we have the DD for the stipulated amount at the time of landing and they don't call the banks??? many tx

Regrets, I didn't get ur query.

[davidovian]

hi Qorax

thank you for the valuable information... can you elaborate us more on the bank drafts and tcs?
what are TCs? and what about the bank drafts? are they the same as bank checks? if yes who would be the beneficiary? what should be written on the check? and what is it about the 30 day period you have mentioned in your post? your help is needed.

[qorax]

hi Qorax

thank you for the valuable information... can you elaborate us more on the bank drafts and tcs?
what are TCs? and what about the bank drafts? are they the same as bank checks? if yes who would be the beneficiary? what should be written on the check? and what is it about the 30 day period you have mentioned in your post? your help is needed.

-Bank draft is similar to Cashier's cheque.
-TC = Travellors Cheque
-30-day pd.: Overseas drawn bank drafts take a while to get credited into ur Canadian a/c after u have opened one & deposited it here. Usually most would be credited in a week or two max, but some might get stuck.

[Akrum66]

Dear Mr.Qorax,
 what will be the procedure and requirements and  documents for opening an amount in Canada,Which bank will be more helpful and beneficial.
Is it acceptable as proof of fund, to make bank draft as a proof of fund from any local bank with reference to Pakistan.
Which amount of Dollars is allowed to take out of Pakistan.
Which bank provide the highest return on deposits in Canada, which are the best deposit schemes in Canada.
Thanks

[qorax]

Dear Mr.Qorax,
 1.what will be the procedure and requirements and  documents for opening an amount in Canada,Which bank will be more helpful and beneficial.
2.Is it acceptable as proof of fund, to make bank draft as a proof of fund from any local bank with reference to Pakistan.
3.Which amount of Dollars is allowed to take out of Pakistan.
4.Which bank provide the highest return on deposits in Canada, which are the best deposit schemes in Canada.
Thanks

U may like to read this first:

Banking Choices upon 'landing'

TD, Scotiabank & CIBC r the most favored banks here (TD, a shade better) - as they r present everywhere. We'd be hard pressed not to find either of the three in any/every town, even if it's remote. Moreover, these 3 bank's ATM machines could be found anywhere... not that we cannot use other's ATMs for w/drawing our monies - but, it'd add some addnl transaction charges [usually $2].

While RBC is the largest bank & BMO - the oldest bank of Canada -- however, they seem to have lagged behind the first 3 in marketing, especially with the newcomers. Nothing wrong with them either, but just that the other 3 r omnipresent - and prominently advertised too.

Besides, each of them have similar product bundles, some good in one aspect, while the other in something else. All the 3 also provide u a free safety locker for the 1st yr (only for newcomers). However, some of their branches might not have that facility.

NOTE:
Currently TD Bank has the 'longest operational' retail banking hrs. Its most branches operate for 12 hrs [from 8AM - 8PM] - yes, we can knock their doors  @  8PM for any of our 'personal' banking tasks!

Qorax
____________________________________________________________________________________________________
1. I'm with TD... though had initially opened a Scotiabank a/c from overseas (but switched later for no serious reason).
2. TD gives me a savings, chequing & credit card bundle - with chequing having no monthly charges (for any transaction/s) while keeping a bal of $5K.
3. I'm also aware that they offer "unsecured" $1K credit card to every newcomer, which is preety good.

1. U just need ur SIN & proof of address.
2. Any bank which provides u a draft in CAD/USD/GBP/Euro and payable in Canada will work fine.
3. I've no idea, regrets.
4. All banks have similar products. A savings a/c here will not fetch much (interest rates remain around 2% usually). There r other investment options though like RESP, RRSP, Govt. Bonds etc. all of which could give u tax relief as well.

Qorax

[Akrum66]

Dear Mr. Qorax
Thank you for your response and guidance.God should bless you for this.

[canada100]

Ur IO will take/asssess ur bank statements on their face value. They will not (cannot) contact the bank.

qorax, so does this mean they will be satisfied as long as we have the DD for the stipulated amount at the time of landing and they don't call the banks??? many tx

[PAMM4U]

Respected Qarax & all forum members,

                       
how r u?...how is life going on?
 
                       i have skilled worker visa with my wiife & a baby .we are going to land tronto next month.I have prepared a bank draft of 20000$ for me ,my wife& my baby.I have two queries

1)Is that my unlce wants  to send 10000$ for his son through me .pls guide me and  suggest ,  will it be problamatic there?  I am confused. 
2)Should i make temporary health insurance of my family?

Pls give ur precious advice....

with regards
PAMM

[sam pk]

Respected Qarax & all forum members,

                       
how r u?...how is life going on?
 
                       i have skilled worker visa with my wiife & a baby .we are going to land tronto next month.I have prepared a bank draft of 20000$ for me ,my wife& my baby.I have two queries

1)Is that my unlce wants  to send 10000$ for his son through me .pls guide me and  suggest ,  will it be problamatic there?  I am confused. 
2)Should i make temporary health insurance of my family?

Pls give ur precious advice....

with regards
PAMM

Dear no its not a problem you would be carry 20000$ & for health insurance first you have to check wheather health facilities started from very 1st day in where you will intend to move. if not then you can make it .

[qorax]

qorax, so does this mean they will be satisfied as long as we have the DD for the stipulated amount at the time of landing and they don't call the banks??? many tx

Regrets, I STILL don't get ur query. What do u mean by "call bank for DD"?

If u r talking about ur bank draft / cashier's chq that u'd be bringing for ur settlement funds while landing... I don't see there'd be any issues. In any case, drafts r always electronically &/or physically verified from the issuing office before being credited into anyone's a/c, unless there's a long-standing relationship between the a/c holder & the bank/s involved... in which case it might be credited imdtly however, could be reversed as well - if there's a folly detected.

Qorax

[canada100]

Regrets, I STILL don't get ur query. What do u mean by "call bank for DD"?

If u r talking about ur bank draft / cashier's chq that u'd be bringing for ur settlement funds while landing... I don't see there'd be any issues. In any case, drafts r always electronically &/or physically verified from the issuing office before being credited into anyone's a/c, unless there's a long-standing relationship between the a/c holder & the bank/s involved... in which case it might be credited imdtly however, could be reversed as well - if there's a folly detected.

Qorax

hi qorax, apologies if I was not clear enough. my question is:

You mentioned before that the CIC will take our bank statements submitted along with the application at face value. so does this mean they will not call the banks to check if the balance is maintained dring the processing of or application? Do you mean to say that the CIC just treats the bank statement as true and will be satisfied as long as we have the settlement funds available with us at the point of landing? Many thanks for your comments

[canada100]

H qorax,

if i can ask you another question please. Today, my ecase is updated with 'med results received'. Which of the following do u feel this means?

- The immi officer has simply received our results and doesn't mean medical is OK
- CIC has checked our medical, it is OK but reslts of Backgrnd/sec checks is pending
- CIC feels both medicals and backgrnd results are OK and are about to ask for or passports.

Please, you will see that it is going to be 3 mnths since tghey received our medical results. Our rprf DD was encashed on 16th FEb but there was no update until this morning. How long do you feel we have to wait for PPR? If you don't mind giving yr comments plz, many thanks and God bless you.

[qorax]

hi qorax, apologies if I was not clear enough. my question is:

You mentioned before that the CIC will take our bank statements submitted along with the application at face value. so does this mean they will not call the banks to check if the balance is maintained dring the processing of or application? Do you mean to say that the CIC just treats the bank statement as true and will be satisfied as long as we have the settlement funds available with us at the point of landing? Many thanks for your comments

Yes, it'd be taken on it's face value. However, the IOs have exp in assimilating info drawn from our case filing... They understand many things. Moreover, while meds u'd be asked for fresh POF docs as well.

[qorax]

H qorax,

if i can ask you another question please. Today, my ecase is updated with 'med results received'. Which of the following do u feel this means?

- The immi officer has simply received our results and doesn't mean medical is OK
- CIC has checked our medical, it is OK but reslts of Backgrnd/sec checks is pending
- CIC feels both medicals and backgrnd results are OK and are about to ask for or passports.

Please, you will see that it is going to be 3 mnths since tghey received our medical results. Our rprf DD was encashed on 16th FEb but there was no update until this morning. How long do you feel we have to wait for PPR? If you don't mind giving yr comments plz, many thanks and God bless you.

U'd be receiving ur PPR shortly... In a few weeks!