Bank draft - on landing

[shankariyer]

Seniors, please help.
I live in UAE and landing with family soon. I am taking C$ 1000 and rest in bank draft or travellers cheques form. Now no exchange issues TCs. Banks in Canada (e.g. RBC) says it will take 25 days to realise international drafts. Please help me how and where i should take a draft which will allow us immediate create when open the account.
SS

 

[steaky]

Open a Canadian HSBC premier account before you leave your country. Afterwards, any international bank draft deposit into this bank account, the funds will be immediately available.

 

[shankariyer]

thanks so much

 

[Ian C.]

Hi Steady,

Do HSBC make any charge to transfer funds in free of charge (Global accounts) . any charge for this transfer ?By the way, do Bank ask the source of funds to prove this fund if more than , let's say 100K ? do I need to declare it before Landing ? (B4 form - things to follow ? )

Please advise... Thanks,,

 

[Ian C.]

Open a Canadian HSBC premier account before you leave your country. Afterwards, any international bank draft deposit into this bank account, the funds will be immediately available.

Steaky,
any charge on it ?

 

[steaky]

Steaky,
any charge on it ?

No charge.

 

[acapeg]

if i issue a bank draft in Hong Kong , should the bank draft be USD or HKD, or CAD ? (Not sure if its OK in CAD) .
Does it matter ?
THen it will be accepted by any bank in Canada? Sorry, I know little about bank draft... : :

i dont have a HSBC premier account, just advance account.
I think bank draft would be the easiest for me ..

 

[steaky]

if i issue a bank draft in Hong Kong , should the bank draft be USD or HKD, or CAD ? (Not sure if its OK in CAD) .
Does it matter ?
THen it will be accepted by any bank in Canada? Sorry, I know little about bank draft... : :

i dont have a HSBC premier account, just advance account.
I think bank draft would be the easiest for me ..

I don't know if it will be accepted by any bank in Canada if the bank draft is in HKD, but definitely at HSBC. It's definitely OK in CAD. You would have to declare at the airport if you are bringing $10,000 or more.

 

[next2015]

if i issue a bank draft in Hong Kong , should the bank draft be USD or HKD, or CAD ? (Not sure if its OK in CAD) .
Does it matter ?
THen it will be accepted by any bank in Canada? Sorry, I know little about bank draft... : :

i dont have a HSBC premier account, just advance account.
I think bank draft would be the easiest for me ..

acapeg,
kindly share with me the terms/conditions for the advance account i.e. fees, minimum balance requirements etc.

 

[steaky]

acapeg,
kindly share with me the terms/conditions for the advance account i.e. fees, minimum balance requirements etc.

So you want to open an account in Hong Kong?

http://www.hsbc.com.hk/1/2/hsbcadvance/home

 

[acapeg]

I will live in a small city at Alberta and there will be no HSBC.
I think I will ask for CAD for the bank draft first, then USD.
I am sure USD bank draft will be fine.

 

[Ian C.]

PMM,
so for my property and Funds/Cash retains in my motherland and sell/TT transfer it later on after landing to Canada. Should I need to declare it in my B4 forms during landing ?

Ian

 

[Ian C.]

Steaky,
Refer to above post by me, it means no actions to do even I retain CASH and Funds/Property in motherland and decide to transfer/sell later on during Landing ? right

Ian

 

[steaky]

Steaky,
Refer to above post by me, it means no actions to do even I retain CASH and Funds/Property in motherland and decide to transfer/sell later on during Landing ? right

Ian

Yes, no actions to do for now in regards to your cash and other assets in the motherland. You would need to declare them (if value in excess of $100,000) in your tax return once you became tax resident. You don't list them in the B4, though.

 

[next2015]

So you want to open an account in Hong Kong?

http://www.hsbc.com.hk/1/2/hsbcadvance/home

oh no. I think my brain did a number on me. I thought I was asking someone in Canada already. ;D
I'm interested in the details for the premier accoun in Canada.