Dear liaumi,
If you live in US, you are welcome to carry Bank Statements especially if you have your bank account in Bank of America or any other major bank. I just completed my landing on 29th August and I live in US too. I landed by land via Deroit-Windsor tunnel and only carried $366 in cash. Rest of my proof of funds was in the form of Bank Statements. Along with Bank Statements, I also carried Bank Verification letter and ATM receipt. I can't say for sure whether Toronto will accept bank statements but I believe you won't have any issues as long as you have enough funds in your bank account.
In my opinion, ATM card won't help much because Immigration Officer won't be able to see how much money you have in your debit card so using it as proof of fund wil not be useful.
Here is my landing experience. You'll find some stuff useful.
http://www.canadavisa.com/canada-immigration-discussion-board/landed-successfully-used-avr-l1-expired-current-status-h1-t116894.0.html#new
Regards,