Forex VISA Card

[SaurabhKandpal]

Hello,
Can we take VISA card (FOREX card) with loaded CAD (~15,000) while travelling to Canada for the first time as an immigrant ? If yes, Can it be deposited directly into newly opened bank account in Canada ?

Thanks

 

[Hurlabrick]

Hello,
Can we take VISA card (FOREX card) with loaded CAD (~15,000) while travelling to Canada for the first time as an immigrant ? If yes, Can it be deposited directly into newly opened bank account in Canada ?

Thanks

No particular problem with $CAD pre-loaded, but as it is over $10,000 you will have to declare it on your customs forms. See here: https://www.cbsa-asfc.gc.ca/travel-voyage/ttd-vdd-eng.html

Dunno about deposit into a Canadian bank, can't see why not.

But for future transfer into a Canadian bank account better to use a proper FOREX service, or one of the newer 'peer to peer' transfer facilities (I use TransferWise and have done for 3 years for some very larger transfers).