Vancouver Landing, using US banks for proof of funds

[apz]

Hi all
Thankfully we got our COPR and are planning to do a landing in December in Vancouver. I am residing in US and have account with Chase Bank. I was wondering do I need to carry 30,000 CAD for my landing or can I show them my bank statements as a proof of funds? We would be staying there for 2-3 days and head back to US. I know Canada has Chase Bank too so was wondering can I get away with showing Bank Statements or should I carry money with me in form of cash or traveler's check etc.

Thanks

 

[noscaf2014]

You don't need to carry cash with you. A bank statement will suffice. Good luck!

 

[mgnlky]

Use your bank statements. That being said, they only asked me how much money I had available to me; when I offered to show them paperwork, they said it was not necessary.

 

[apz]

Use your bank statements. That being said, they only asked me how much money I had available to me; when I offered to show them paperwork, they said it was not necessary.

@mgnlky Did you move from US to Canada. If yes, did you face any issue in renting, car lease etc ? Basically anything which has to do with credit score. Assuming US credit score wont mean anything in Canada.

 

[mgnlky]

@mgnlky Did you move from US to Canada. If yes, did you face any issue in renting, car lease etc ? Basically anything which has to do with credit score. Assuming US credit score wont mean anything in Canada.

I did move from the US. US Credit scores are useless in Canada. I've had zero issues getting credit cards or renting an apartment. That being said, I did run into an issue getting a car from one Vancouver dealership. Something to watch out for, I guess: I put down a $500 deposit to "hold" the car and after a week of not getting anywhere with them, they came back pushing me to put a 50% downpayment and claiming they couldn't get financing otherwise. (All newcomers programs I've read about say 25%, by the way.) According to Equifax, RBC, and CIBC, my credit score is in the 760's, and my income is over $115,000. The car dealership actually hit my credit so many times within a week that it dropped the score a few points.

So basically, if you run into this situation with a dealership, run as far away as you can. I'm still fighting with them to get my $500 deposit back because they "can't figure out how to refund it to a card."

 

[apz]

I did move from the US. US Credit scores are useless in Canada. I've had zero issues getting credit cards or renting an apartment. That being said, I did run into an issue getting a car from one Vancouver dealership. Something to watch out for, I guess: I put down a $500 deposit to "hold" the car and after a week of not getting anywhere with them, they came back pushing me to put a 50% downpayment and claiming they couldn't get financing otherwise. (All newcomers programs I've read about say 25%, by the way.) According to Equifax, RBC, and CIBC, my credit score is in the 760's, and my income is over $115,000. The car dealership actually hit my credit so many times within a week that it dropped the score a few points.

So basically, if you run into this situation with a dealership, run as far away as you can. I'm still fighting with them to get my $500 deposit back because they "can't figure out how to refund it to a card."

@mgnlky Dang! Thats nasty, sorry that you had to go through this. Relieved to hear that renting wont be impossible without a credit score. Reading your comments it seems it would make more sense to get my present car from US to Canada then. Also, I hope they dont charge us extra for everything since we dont have a credit score ( I live in LA and here if you dont have a good credit you pay extra for everything)

 

[mgnlky]

@mgnlky Dang! Thats nasty, sorry that you had to go through this. Relieved to hear that renting wont be impossible without a credit score. Reading your comments it seems it would make more sense to get my present car from US to Canada then. Also, I hope they dont charge us extra for everything since we dont have a credit score ( I live in LA and here if you dont have a good credit you pay extra for everything)

If your car is newer or paid off, look into bringing it. Mine was a 2012 and I still owed a little on it. When all was said and done, it would have costed more to ship it and pay it off than what (I considered) it to be worth.