Bank account and settlement funds

[Chintan31]

Hello @legalfalcon. I am planning to fly to Canada from Sydney. My COPR is valid till 4th of next month so will fly before that.

My question is I don't have any bank account in Canada. I mailed TD bank and RBC but both of them needs COPR to be valid for three months.
What should I do? I have got more than enough funds but can't carry them in Cash.

Please help me out. @legalfalcon

 

[legalfalcon]

Hello @legalfalcon. I am planning to fly to Canada from Sydney. My COPR is valid till 4th of next month so will fly before that.

My question is I don't have any bank account in Canada. I mailed TD bank and RBC but both of them needs COPR to be valid for three months.
What should I do? I have got more than enough funds but can't carry them in Cash.

Please help me out. @legalfalcon

You do not have to carry any funds in Cash. When you land, you only have to show that your meet the PoF, which can be done with a bank statement.

Scotia provides opening an online account and transferring the funds. See https://startright.scotiabank.com

https://bit.ly/2VDSRfv

 

[Chintan31]

You do not have to carry any funds in Cash. When you land, you only have to show that your meet the PoF, which can be done with a bank statement.

Scotia provides opening an online account and transferring the funds.

Thank you @legalfalcon. So can I print bank statement 1 week prior of flying and then close the account? Can I carry more money then $10k while entering the country?

 

[legalfalcon]

Yes, you can take the bank statements.

You can carry as much funds as you want. However, if you carry more than 10K CAD combined, you will have to declare them, and show the source of funds. This is done to be in compliance with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act.

If you are unable to show the source, then your funds will be confiscated and you will be asked to prove where the funds came from. If you can show the source of funds, you will be allowed to take the funds.