Proof of funds during first landing

[arsdat]

Hi All,
I would be doing soft landing in Toronto in few days. I want to know what do I need to show as proof of funds if I am being asked to? Will bank statement from Indian bank would suffice along with balance details on bank letterhead? Or is there any requirement to show the balance in CAD? I am aware of Scotiabank wherein we can open the account while being in India before moving there, but a little hesitant to transfer 14k CAD at one go. Will it be ok if I carry some cash in CAD and forex card along with latest bank statement in INR? Will the amount in cash and forex card have to be at least 13.5 K CAD which they mentioned as the minimum amount for single applicant to settle in Canada? I believe there is also a condition that if we carry cash above 10K CAD we have to declare that? Will the amount in Indian bank also count towards that or is it applicable to just cash/cheques/etc.?

Please assist.

Thanks

 

[asvguy]

I think its bank balance, preferably converted to CAD using their conversion tool. Along with that is the 6 month history of the account which also shows the balance greater than needed.

 

[arsdat]

I think its bank balance, preferably converted to CAD using their conversion tool. Along with that is the 6 month history of the account which also shows the balance greater than needed.

Thanks. Do you mean the amount converted to CAD if mentioned on letter on bank letterhead along with bank statement in local currency for past 6 months provided its greater than the minimum required would suffice at the port of entry? Or the bank statement of past 6 months also have to be in CAD?

 

[asvguy]

I think any money reference would also need to be in CAD, to avoid confusion.

 

[armoured]

Thanks. Do you mean the amount converted to CAD if mentioned on letter on bank letterhead along with bank statement in local currency for past 6 months provided its greater than the minimum required would suffice at the port of entry? Or the bank statement of past 6 months also have to be in CAD?

I don't have direct experience with this, but I think just a bank statement printed would be enough - in the local currency - as long as you can also show what exchange rate is to CAD (or USD).

I don't think they look at this incredibly carefully at the time of arrival. Just one opinion though.

 

[asvguy]

I don't have direct experience with this, but I think just a bank statement printed would be enough - in the local currency - as long as you can also show what exchange rate is to CAD (or USD).

I don't think they look at this incredibly carefully at the time of arrival. Just one opinion though.

True. I'm a bit of an over preparer and don't want surprises or problems haha. Also another thing i was thinking about was, if the money being shown is close to the minimum requirement, and god forbid, if the exchange rate that day changes quite a bit that the money shown in INR isn't converting to meet the minimum requirement, it would be a problem. Just another thought. I also agree they wouldn't look that closely, but i dont wanna take the chance

 

[arsdat]

I think any money reference would also need to be in CAD, to avoid confusion.

Thank you

 

[arsdat]

I don't have direct experience with this, but I think just a bank statement printed would be enough - in the local currency - as long as you can also show what exchange rate is to CAD (or USD).

I don't think they look at this incredibly carefully at the time of arrival. Just one opinion though.

Thank you