Landing in canada- POF requirements!

[PritiJ2017]

Dear All,

I want to know, the various options to carry money into canada.

we live in the UAE. my bank says i can ask for a DD but not close my account thereafter. also the DD will take over a month to encash while in canada.

do you suggest i carry cash? what are the options?

thanks
Aruna

 

[bimale4bipeople]

Dear All,

I want to know, the various options to carry money into canada.

we live in the UAE. my bank says i can ask for a DD but not close my account thereafter. also the DD will take over a month to encash while in canada.

do you suggest i carry cash? what are the options?

thanks
Aruna

If you are planning to do a short landing first and then return to Dubai, you can open your bank account during this short landing and before you final move transfer all your funds from any money exchange to this Canadian bank account

 

[PritiJ2017]

If you are planning to do a short landing first and then return to Dubai, you can open your bank account during this short landing and before you final move transfer all your funds from any money exchange to this Canadian bank account

Thanks for responding @bimale4bipeople

we are planning on final landing. not short.

how best u think we can do this?

thanks
Aruna

 

[bimale4bipeople]

Thanks for responding @bimale4bipeople

we are planning on final landing. not short.

how best u think we can do this?

thanks
Aruna

Check this out
http://www.rbc.com/newcomers/moving-to-canada-resident.html

RBC is the biggest bank in Canada but it does have monthly account charges(I remember they do not charge for the first 6 months though, you need check what’s the current policy)

Another one is https://startright.scotiabank.com/international-application.html

 

[PritiJ2017]

Check this out
http://www.rbc.com/newcomers/moving-to-canada-resident.html

RBC is the biggest bank in Canada but it does have monthly account charges(I remember they do not charge for the first 6 months though, you need check what’s the current policy)

Another one is https://startright.scotiabank.com/international-application.html

thank you again... this is helpful.

i will read up.

 

[Itsmemairaj]

thank you again... this is helpful.

i will read up.

HI! Did you find a solution ? How did you transfer the money?

 

[yiso91]

You can try ScotiaBank , they offer similar packages to RBC , CIBC. However, you can totally open your account online, get access to special dashboard where you will get the account information so you can initiate a wired transfer for up to $50k CAD.

Once you land, you need to go to any branch of choice (pre-appointment will guarantees you that you won't have to wait in line for long), and provide them your passport ,CoPR , SIN number and after filling few forms you will be good to go and the account becomes active at once. You will get the debit card in mail in few days or even through any branch If you wish. You can use the account after activation to withdraw through branches and through ABM when you receive your debit card.

You can also avail to unsecured credit card to start building your credit history, which I highly recommend especially that some landlords and even some employers would want you to have a very good score before doing business with you.

Goodluck

 

[Itsmemairaj]

You can try ScotiaBank , they offer similar packages to RBC , CIBC. However, you can totally open your account online, get access to special dashboard where you will get the account information so you can initiate a wired transfer for up to $50k CAD.

Once you land, you need to go to any branch of choice (pre-appointment will guarantees you that you won't have to wait in line for long), and provide them your passport ,CoPR , SIN number and after filling few forms you will be good to go and the account becomes active at once. You will get the debit card in mail in few days or even through any branch If you wish. You can use the account after activation to withdraw through branches and through ABM when you receive your debit card.

You can also avail to unsecured credit card to start building your credit history, which I highly recommend especially that some landlords and even some employers would want you to have a very good score before doing business with you.

Goodluck

Thank you for your reply! Just want to make sure if anyone has used it? In the previous posts, it's mentioned that sometimes the transactions can be rejected and we end up losing money in exchange rates. Do let me know if you have tried it from the UAE.

 

[yiso91]

Thank you for your reply! Just want to make sure if anyone has used it? In the previous posts, it's mentioned that sometimes the transactions can be rejected and we end up losing money in exchange rates. Do let me know if you have tried it from the UAE.

A friend of mine have made the move last year and it went in just fine. Make sure you are entering the exact details of the destination account as given. Make sure you select the correct transaction type (being own account transfer) or any other related type.

Also, call the bank in UAE and ask them what is the maximum daily limit for out-country transfer. Most banks in UAE have a limit of anywhere between 150-250k AED a day.

 

[Itsmemairaj]

You can try ScotiaBank , they offer similar packages to RBC , CIBC. However, you can totally open your account online, get access to special dashboard where you will get the account information so you can initiate a wired transfer for up to $50k CAD.

Once you land, you need to go to any branch of choice (pre-appointment will guarantees you that you won't have to wait in line for long), and provide them your passport ,CoPR , SIN number and after filling few forms you will be good to go and the account becomes active at once. You will get the debit card in mail in few days or even through any branch If you wish. You can use the account after activation to withdraw through branches and through ABM when you receive your debit card.

You can also avail to unsecured credit card to start building your credit history, which I highly recommend especially that some landlords and even some employers would want you to have a very good score before doing business with you.

Goodluck

A friend of mine have made the move last year and it went in just fine. Make sure you are entering the exact details of the destination account as given. Make sure you select the correct transaction type (being own account transfer) or any other related type.

Also, call the bank in UAE and ask them what is the maximum daily limit for out-country transfer. Most banks in UAE have a limit of anywhere between 150-250k AED a day.

Thank you for time. I will go with scotiabank bank then and see how it goes Could you also update me if you are aware of the transfer charges or the exchange rate diffrence please?

 

[yiso91]

Thank you for time. I will go with scotiabank bank then and see how it goes Could you also update me if you are aware of the transfer charges or the exchange rate diffrence please?

That is highly depended on the originating currency and bank. Contact your bank to check the TT transfer rate( not the regular Buy/Sell rate). Also, when making the transfer select (OUR) not (SHA) to ensure transfer charged by remitter so you can get the exact amount deposited in your account in Canada.

Remember, you can only make one transfer only worth up to CAD 50k , so make it count.

 

[Itsmemairaj]

That is highly depended on the originating currency and bank. Contact your bank to check the TT transfer rate( not the regular Buy/Sell rate). Also, when making the transfer select (OUR) not (SHA) to ensure transfer charged by remitter so you can get the exact amount deposited in your account in Canada.

Remember, you can only make one transfer only worth up to CAD 50k , so make it count.

Good to know that. If you are aware of the any step by step process on the selections that are required to be made for transfer, please let me know. I am planning to transfer from Emirates Islamic in UAE to Scotiabank.

 

[yiso91]

Good to know that. If you are aware of the any step by step process on the selections that are required to be made for transfer, please let me know. I am planning to transfer from Emirates Islamic in UAE to Scotiabank.

I highly suggest you contact the bank directly to get formal information from them. I don't want to guess or make assumptions that may damage your case in future.

Goodluck

 

[Itsmemairaj]

I highly suggest you contact the bank directly to get formal information from them. I don't want to guess or make assumptions that may damage your case in future.

Goodluck

HI, I called Scotiabank to confirm and they said that if my nationality isn't from the UAE, the transfer would not work Do you have any idea on this? The friend of yours who did the transfer, was he a UAE national or was he a resident? Your help will be appreciated

 

[yiso91]

HI, I called Scotiabank to confirm and they said that if my nationality isn't from the UAE, the transfer would not work Do you have any idea on this? The friend of yours who did the transfer, was he a UAE national or was he a resident? Your help will be appreciated

Wait .. what ??? how did they even say that ? what is your nationality got anything to do with you opening up an account and transfering money to it.

My friend wasn't UAE national (obviously he doesn't need to migrate to Canada) , he was a resident and it went with no issues.

I recommend you to try to contact them again. This smells very fishy!