AXISBANK FOREX CURRENCY CARD - FOR PROOF OF FUNDS AT LANDING

[KBatra]

Hi All,

I am little confused regarding what option to choose regarding the proof of funds.
Can I use a Axis Bank Forex Card from my Bank account in India.???

http://www.axisbank.com/personal/forex/travel-currency-card/travel-currency-card-features.aspx

Pls guide me as I am trying to get my POF sorted. The other option is to make a DD from the bank but they are charging me 18000 Rs ($300) for making the Demand Draft which I want to save.

Awaiting your response....

Regards
Kunal

 

[lawrence2007]

Hi Kunal,

I wonder if the forex card could be considered as proof of funds. the CIC website does not list any type of cards as eligible proof of funds. check the link:

http://www.cic.gc.ca/english/immigrate/skilled/funds.asp

 

[PMM]

Hi

Hi All,

I am little confused regarding what option to choose regarding the proof of funds.
Can I use a Axis Bank Forex Card from my Bank account in India.???

http://www.axisbank.com/personal/forex/travel-currency-card/travel-currency-card-features.aspx

Pls guide me as I am trying to get my POF sorted. The other option is to make a DD from the bank but they are charging me 18000 Rs ($300) for making the Demand Draft which I want to save.

Awaiting your response....

Regards
Kunal

1. You are going to have to show either cash, a dd, tcs or proof of funds in your bank account. A card of any type is not proof of funds.

 

[KBatra]

Hi PMM,

Thanks for the info. What I was thinking to do is that when they issue you a FOREX card, they link an account to your existing account and I can get a statement from the bank that there are $18097 in that account. Will that solve the purpose?

Pls advise!!!

Kunal

 

[steaky]

Hi PMM,

Thanks for the info. What I was thinking to do is that when they issue you a FOREX card, they link an account to your existing account and I can get a statement from the bank that there are $18097 in that account. Will that solve the purpose?

Pls advise!!!

Kunal

Sounds complicated. Wouldn't it be simpler to get the bank statement showing $18097 in that account instead?

 

[KBatra]

Hi Steaky

Thanks for your input. I mean they link the FOREX card to the Customer ID. So all my account will be listed and I will get a statement and keep that with me and if the IO gets to fussy, I will request to walk to any ATM at the Airport and show him the balance or withdraw the cash and make him happy. Hoping that all this wont be too complicated and the IO will not mind doing that.

Any inputs/advises will be highly appreciated. I do not want to waste $300 CAD on making a DD and then have to wait 15-20 days for the money to get in my Canadian Bank account.

Cheers
Kunal

 

[steaky]

Hi Steaky

I mean they link the FOREX card to the Customer ID.

Who will link the card to Customer ID?

 

[PMM]

Hi

Hi Steaky

Thanks for your input. I mean they link the FOREX card to the Customer ID. So all my account will be listed and I will get a statement and keep that with me and if the IO gets to fussy, I will request to walk to any ATM at the Airport and show him the balance or withdraw the cash and make him happy. Hoping that all this wont be too complicated and the IO will not mind doing that.

Any inputs/advises will be highly appreciated. I do not want to waste $300 CAD on making a DD and then have to wait 15-20 days for the money to get in my Canadian Bank account.

Cheers
Kunal

The Border officer is not going to waste time doing that. If you don't have the proof as required, s/he can refuse to admit.

 

[KBatra]

Hi PMM

Could you pls post ur reply again....The only thing it posted was Hi....

Thanks
Kunal

 

[polara69]

Hi PMM

Could you pls post ur reply again....The only thing it posted was Hi....

Thanks
Kunal

That is the reply..it was part of the quote in blue


The Border officer is not going to waste time doing that. If you don't have the proof as required, s/he can refuse to admit.

 

[Oscar7]

[size=9pt] Kunal,

Below are some options related to banking and financial services for would-be immigrants from India to Canada:

Option 1: http://www.scotiabank.com/ca/en/0,,4362,00.html

Open an account before moving to Canada - The Scotiabank StartRight® Program1 allows eligible applicants from India to open a Canadian bank account, before moving to Canada. In fact this one mentions receiving $100 when you open an eligible checking account, so read the fine prints on the same.

Option 2: http://www.icicibank.ca/personal/crossborderbanking/helloCanada.htm

ICICI provides a Certificate of Balance, which will serve as proof of funds at the port of entry in Canada and can be issued to you upon successful completion of an outward remittance to your Hello Canada account. All you have to do is submit a request when you place your remittance instruction. They recommend that you remit your funds around one month before you leave for Canada.

Option 3: http://www.hsbc.ca/1/2/personal/new-to-canada

HSBC allows to open account / move money / transfer credit (HSBC credit history) so please feel free to reach out to them, as needed.

Take your pick from the above list. Good luck!

Hi Steaky

Thanks for your input. I mean they link the FOREX card to the Customer ID. So all my account will be listed and I will get a statement and keep that with me and if the IO gets to fussy, I will request to walk to any ATM at the Airport and show him the balance or withdraw the cash and make him happy. Hoping that all this wont be too complicated and the IO will not mind doing that.

Any inputs/advises will be highly appreciated. I do not want to waste $300 CAD on making a DD and then have to wait 15-20 days for the money to get in my Canadian Bank account.

Cheers
Kunal