Crossing Border to Canada with less than 10K USD / resident (one family) ?

[magdy580]

Hi guys, there's something thats eating my mind up.

I'm planning to come to Canada soon, we are a family of two ( & an infant actually)

Now the question is can we enter Canada each of us carrying less than 10K USD ?

Or we (as a family) should not bring more than 10K ?

I have the option to transfer money to my bank account in Canada (in CAD) but I don't want to do that as I'll lose some $$$$ due to high price of CAD here

Thanks in advance,

Love you All

Magdy

 

[Leon]

You can bring more than CAD10,000 per person but you must inform customs. If you don't inform and they pull you out for a routine check and find the money, they could suspect you of criminal activity / money laundering and could confiscate it and/or fine you.

 

[steaky]

You don't have to transfer your money in CAD! Get a HSBC account and you can open foreign currencies bank accounts such as Euro, USD, Hong Kong dollar and GBP.

 

[Rambo123]

one suggestion

Better carry money order/dd/travel check and deposit in Bank based on your need.
On border do declare.
keep some cash and ofcourse credit card for daily expenses.

 

[cyberbobsa]

Better to open a USD account and transfer the money. Make sure you have proof about the source of funds too.
If you deposit more then 8000 cash in any bank you will be reported anyway, told to me by an HSBC employees.