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Opening Bank Account before landing

Discussion in 'Settlement Issues' started by girish979, Aug 10, 2017.

  1. Unfortunately, no. I need to be physically visit the exchange house with cash and wire it accordingly. Also, since the amount is big i will need to provide sufficient source to supplement the transfer, something which i can do sittinf in a foreign land with my work permit cancelled upon exiting the country.

    My point is i cant leave such big amount with my work permit cancelled.Incase of anything, i need to be able to come back if needed worst scenario OR before i leave i transfer everything clean and leave with ease of mind..
     
  2. I understand now. Maybe as someone mentioned try Scotiabank. They are otherwise ok. You can switch account once you are here. If you have big amount they would anyways need your business
     
  3. Thanks for your reply.Noted.
     
  4. Hi Guys, so could you finally share you experiences of transferring funds to Canada? Thank You. :)
     
  5. Cash is best.. 10k per person..
    Second option bank draft
    Third option wire transfer .. Scotia bank

    I used Axis Bank Forex its good..
    Works everywhere..

    Problem is that for cash withdrawal transaction fee is $3.50 for every $1200 which is daily limit
     
  6. Axis Bank Forex Card*
    Got good rate so withdrawal fee os not pinching much..
     
  7. IS that an Indian institution, I’ve never heard before?
     
  8. Yes
     
  9. It is a prepaid card issued by Bank. Good thing is you can get one in advance and lock down your rate. This is true especially if you anticipate a downward shift in forex rate or want to avoid any uncertainty
     
  10. But that’s probably not in Pakistan.
     
  11. Not the exact Bank ofcourse but there would likely be a different bank/agency providing similar product. It is called forex prepaid card or travel prepaid card. Some of them allow loading money online after initial authentication is done, others provide an online interface to check balance, etc
     
  12. 3.50$ per 1,200 is slightly expensive. Did you put your entire amount into the forex card? I will be moving permanently to Canada in a few months, already have a bank account in RBC, but not sure about the bank to bank transfer from Indian bank to a Canadian bank
     
  13. You can easily transfer from your Indian back to Canadian... There would be an option of send funds abroad.. there are certain limits till which you can send with self declaration beyond which you need a certificate from your CA to do it upto 250,000$ per year.
    You will need to get the Swift details for your RBC account
     

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