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Canada Immigration Forum > Immigration Topics > Skilled Worker / Professional Immigration > Topic: Whats the Best option for POF while landing??
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Author Topic: Whats the Best option for POF while landing??  (Read 744 times)
prsh_patel
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« on: December 30, 2010, 12:38:22 am »
hello seniors and all landed immigrants,

Soon i'll be landing in Toronto and would like to know the best option to show as a POF...i need to show the fund for family of 3 i.e. CAD 17000, i'm planning to have around 3k as a cash and then rest of it as a DD or/and TC...i really appreciate if anyone guide what would be the best option to go with....

i heard DD takes around 4 to 5 weeks for clearance but charges are minimal and if we go for TC then while encashment the commission charges are bit high but clearance is pretty fast....

Appreciate if any one throw some light on this.

Thanks in anticipation..
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prsh_patel
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Posts: 781
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Category........: FSW1
Visa Office......: New Delhi
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App. Filed.......: 30-11-2009
Doc's Request.: 30-01-2010
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« Reply #1 on: December 30, 2010, 04:18:33 am »
pulling up the thread...
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ItsBeenLongNow
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« Reply #2 on: December 30, 2010, 04:25:33 am »
well let congrats you first
2nd this is a good question
myself im planning the same as u have
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prsh_patel
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Category........: FSW1
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« Reply #3 on: December 30, 2010, 07:20:26 am »
Any inputs from fellow members?
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qorax
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« Reply #4 on: December 30, 2010, 07:04:40 pm »
The 80-20 Rule
------------------
80% in Draft/s
20% in Cash

Qorax
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Qorax Indexed:
http://www.canadavisa.com/canada-immigration-discussion-board/-t74858.0.html
explorer101
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« Reply #5 on: December 30, 2010, 07:07:26 pm »
Quote from: prsh_patel on December 30, 2010, 12:38:22 am
hello seniors and all landed immigrants,

Soon i'll be landing in Toronto and would like to know the best option to show as a POF...i need to show the fund for family of 3 i.e. CAD 17000, i'm planning to have around 3k as a cash and then rest of it as a DD or/and TC...i really appreciate if anyone guide what would be the best option to go with....
i heard DD takes around 4 to 5 weeks for clearance but charges are minimal and if we go for TC then while encashment the commission charges are bit high but clearance is pretty fast....
Appreciate if any one throw some light on this.
Thanks in anticipation..

If the DD is payable in Canada it would be on hold for just 5 days and not 4-5 weeks. If is not payable in Canada then take 30 days of hold.
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prsh_patel
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Category........: FSW1
Visa Office......: New Delhi
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Doc's Request.: 30-01-2010
AOR Received.: 30-03-2010
IELTS Request: 7.0
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Med's Request: 08-07-2010
Med's Done....: 13-07-2010
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Passport Req..: 08-07-2010
VISA ISSUED...: 25-10-2010
LANDED..........: Jan 2011
« Reply #6 on: December 30, 2010, 09:06:47 pm »
Thanks for respondind Qorax and Explorer...i'll get some information about this very soon...One of my friend landed in toronto last month and he has deposited the DD in bank, but not got cleared yet...as advised by quorax will have 20 % in cash and rest will show in DD...the information from explorer also seems to be good, im not sure what my freind did while making DD, but i'll make sure the DD will be payable in canada in my case....

i also would like to have information on NRE and NRO account here from India...as explorer is in banking field, i request you to provide information on difference of NRE account and NRO account...this will be helpful for the fellow members..sorry if it sounds like a dumb question but information is highly appreciated....
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CBI
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« Reply #7 on: January 07, 2011, 11:58:05 pm »
Paresh,

Why dont you open a Scotia bank account here in India, where you get a Credit card as well & one year no charges on bank account.

You  can deposit only once (CAD $ 20000 Max) in this account here in India & then you can go to any branch in Canada & you can start your account immediately.


Hope this will help you.......

All the best for the rest.

When are you planning to land in Canada & where ?
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prsh_patel
Hero Member
*****

Posts: 781
Ratings: +21
Category........: FSW1
Visa Office......: New Delhi
NOC Code......: 0213
App. Filed.......: 30-11-2009
Doc's Request.: 30-01-2010
AOR Received.: 30-03-2010
IELTS Request: 7.0
File Transfer...: 3rd Feb 2010
Med's Request: 08-07-2010
Med's Done....: 13-07-2010
Interview........: Waived
Passport Req..: 08-07-2010
VISA ISSUED...: 25-10-2010
LANDED..........: Jan 2011
« Reply #8 on: January 08, 2011, 12:02:29 am »
Quote from: CBI on January 07, 2011, 11:58:05 pm
Paresh,

Why dont you open a Scotia bank account here in India, where you get a Credit card as well & one year no charges on bank account.

You  can deposit only once (CAD $ 20000 Max) in this account here in India & then you can go to any branch in Canada & you can start your account immediately.


Hope this will help you.......

All the best for the rest.

When are you planning to land in Canada & where ?

CBI, can you please send me your number so that we can talk, i'm from Baroda...
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CBI
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Posts: 556
Ratings: +10
Category........: FSW1
Visa Office......: New Delhi
NOC Code......: 1111
Pre-Assessed..: Yes
App. Filed.......: 18 Dec 2009
Doc's Request.: 12-Feb-2010
AOR Received.: 12 Feb 2010 & 21st May 2010
IELTS Request: 7.0 Band (6th March 2010)
File Transfer...: 17 Feb 2010
Med's Request: 23 Dec 2010
Med's Done....: 07 Jan 2011
Interview........: Waived
Passport Req..: 23 Dec 2010
VISA ISSUED...: 14 Mar 2011
LANDED..........: 06 May 2011
« Reply #9 on: January 08, 2011, 12:04:36 am »
Quote from: prsh_patel on January 08, 2011, 12:02:29 am
CBI, can you please send me your number so that we can talk, i'm from Baroda...

PM sent to you
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CBI
Hero Member
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Posts: 556
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Category........: FSW1
Visa Office......: New Delhi
NOC Code......: 1111
Pre-Assessed..: Yes
App. Filed.......: 18 Dec 2009
Doc's Request.: 12-Feb-2010
AOR Received.: 12 Feb 2010 & 21st May 2010
IELTS Request: 7.0 Band (6th March 2010)
File Transfer...: 17 Feb 2010
Med's Request: 23 Dec 2010
Med's Done....: 07 Jan 2011
Interview........: Waived
Passport Req..: 23 Dec 2010
VISA ISSUED...: 14 Mar 2011
LANDED..........: 06 May 2011
« Reply #10 on: January 08, 2011, 12:15:23 am »
Paresh,

Check this

http://www.canadavisa.com/canada-immigration-discussion-board/open-a-scotia-bank-account-from-india-check-this-out-t43486.0.html
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CBI
Hero Member
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Posts: 556
Ratings: +10
Category........: FSW1
Visa Office......: New Delhi
NOC Code......: 1111
Pre-Assessed..: Yes
App. Filed.......: 18 Dec 2009
Doc's Request.: 12-Feb-2010
AOR Received.: 12 Feb 2010 & 21st May 2010
IELTS Request: 7.0 Band (6th March 2010)
File Transfer...: 17 Feb 2010
Med's Request: 23 Dec 2010
Med's Done....: 07 Jan 2011
Interview........: Waived
Passport Req..: 23 Dec 2010
VISA ISSUED...: 14 Mar 2011
LANDED..........: 06 May 2011
« Reply #11 on: January 08, 2011, 12:17:38 am »
Paresh,

Direct link of Scotia Bank

http://www.scotiabank.com/cda/content/0,1608,CID12958_LIDen,00.html
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prsh_patel
Hero Member
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Posts: 781
Ratings: +21
Category........: FSW1
Visa Office......: New Delhi
NOC Code......: 0213
App. Filed.......: 30-11-2009
Doc's Request.: 30-01-2010
AOR Received.: 30-03-2010
IELTS Request: 7.0
File Transfer...: 3rd Feb 2010
Med's Request: 08-07-2010
Med's Done....: 13-07-2010
Interview........: Waived
Passport Req..: 08-07-2010
VISA ISSUED...: 25-10-2010
LANDED..........: Jan 2011
« Reply #12 on: January 08, 2011, 03:51:32 am »
Thanks CBI for providing all the information...stay in touch...
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Rainy78
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« Reply #13 on: January 17, 2011, 05:47:31 pm »
Quote from: prsh_patel on December 30, 2010, 12:38:22 am
hello seniors and all landed immigrants,

Soon i'll be landing in Toronto and would like to know the best option to show as a POF...i need to show the fund for family of 3 i.e. CAD 17000, i'm planning to have around 3k as a cash and then rest of it as a DD or/and TC...i really appreciate if anyone guide what would be the best option to go with....

i heard DD takes around 4 to 5 weeks for clearance but charges are minimal and if we go for TC then while encashment the commission charges are bit high but clearance is pretty fast....

Appreciate if any one throw some light on this.

Thanks in anticipation..
hi paresh....DD takes 5 working days to clear..we did that same way...so, take DD with sm (appx 500 $) cash....

rest..i wud like to know...u had applied under old system also..so, did u get that money back..or any approval reg. that. my old e-case status shows withdrawn and says office will contact u soon...pls share.
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Current Status : "COMPLETE" (since 23 -12 - 2010)
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