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Proof of Funds while Landing in Toronto - please share recent experience!!

Discussion in 'Settlement Issues' started by Rifat Mahmud, Feb 26, 2016.

  1. No didn't use this. I landed in Canada Vancouver a week back. Do not worry about this. Just have enough funds in your card and cash in Canadian dollars from your home country. This is strictly for your own needs.
    At the immigration they do not bother with any paperwork or proofs. They just ask few general questions for formality. It's very relaxed and there are no official rules for fund requirements. Just carry your old bank statement you used a time time of application. And just as a precaution, take out a fresh statement close to your departing date.
     
    fridge03 and Jakev like this.
  2. They didnt ask me anything.
    Didnt show them anything.
    Waiting for my PR card
     
    fridge03 likes this.
  3. The immigration does ask how much you're carrying, and its a mere formality- I carried only 12,000 (10,000 in Forex card and remaining in cash), and wasn't asked anything.
     
    fridge03 likes this.
  4. The declaring carrying $10,000 or over is for all travellers to try and catch people attempting to launder money that is from illegal sources. Just in case anyone is wondering. Not related to immigration. Just take as much cash as you need or your family while you travel and carry a paper copy for proof of funds. Now that everything can be done via cards this is less of an issue. More importantly notify your bank that you will be travelling abroad so your accounts are frozen for security reasons. Also see if there is a partnership between your home country bank and a Canadian bank so you can use Canadian ATMs for free while you set up Canadian bank account.
     
    YVR123 and fridge03 like this.
  5. That's very helpful thanks. i've heard a few people mention that they don't really ask for POF when you land.
     
  6. I landed 2 weeks and when I was asked about funds (the agent was a very cordial fellow and made me feel very welcome and at ease). I told him I had USD 7000 in cash and the rest was on an account at home which I could access with a debit card that I had on me. He nodded and kept typing. I asked him if he wanted to see the cash or bank statement and he said 'No, you're alright' and that was the end of it.

    Did you land already?

    Good luck with your settlement.

    - The Alien
     
    fridge03 likes this.
  7. Pretty easy to carry some recent bank statements. Also could offer to show online banking or debit card receipt. Pretty easy to function without much cash these days but would recommend contacting banks and credit cards to advise that you will be in Canada. Also check for partner banks to limit fees until you have things set up in Canada. You can only imagine what people had to go through 25+ years ago.
     
  8. People were fine 25 years back too. They just carried international money orders or something like that. The expectations were similar for those times.
     
  9. This is very useful. Thanks.
     
  10. I plan to land in July I guess I will open an account in Scotia Bank and deposit 3000 dollars in that account and carry the rest with me. Or hmm maybe get a bank draft and keep a thousand bucks on me and deposit the draft once I land.
     
  11. Really awesome story!!
    So are you in Canada now?
    So when you first left in 9 days, you still had the PR for Canada?
    How does that work?
     
  12. Hello,

    I have a query regarding how to carry proof of funds while first landing in Çanada.

    1) For a Single Applicant, the proof of funds that has to be declared while filing the PR application is Approx. 12K CAD.

    Do I need to carry this entire amount to Canada in the form of cash, Forex card, DD Etc ?

    2) If the answer to the above is a YES then as per the below links, do I need to declare the amount at the immigration ?

    https://www.canada.ca/en/immigration-refugees-citizenship/services/new-immigrants/prepare-life-canada/border-entry.html
    https://www.cbsa-asfc.gc.ca/travel-voyage/ttd-vdd-eng.html


    3) If I plan to carry an amount of 6k CAD as a combo of cash, forex card and DD along with a Bank Statement of 12k CAD from My Indian bank account, then do I have to declare at the immigration ?

    Will it be considered as I am carrying 6K CAD thats below 10K CAD - Hence no declaration needed ?
    OR
    Will it be considered 6K CAD + 12K CAD - hence declaration needed ???

    Does the 10K CAD declaration also include the bank letter ?


    Thanking you in advance.
     
    1. I landed roughly a month ago at Toronto airport (YYZ) and no one asked anything about proof of funds. however, what i did was - carried a couple of hundred in cash and around a thousand bucks in forex card.
    2. Then, after 3-4 days, I enquired around in the banks and opened an account in the bank of my liking. transferred the money from India bank account to Canada bank account which took another 2-3 day. Done.
    Now, this is simple, since I stayed with my sister for the initial few weeks, $1000 were enough for me to get started. So the amount you might wanna bring in forex etc will depend on your circumstances. but try not to bring too much cash. have it in forex card instead as there are NO transaction charges when you pay by card here anywhere (withdrawal from the forex card will have $2-$3 charges per transaction).

    Its ok to transfer more than $10K from India to Canada bank account, you can declare this when you file your tax return here. You have to declare at customs if you are carrying more than $10K with you while landing.

    hope this helps.
     
  13. Hi everyone! I am about to land as PR soon. I did wire transfer of money (above $10,000) to my hubby's bank account in canada from my country. Do i need to declare that upon landing or is it just the money that i am carrying on the time of landing that i should declare? Please enlighten me.
     
  14. Just the amount that you are carrying with you.
     

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