King80,
Yes, You have to declare your funds at the port of entry if it exceeds $10,000 .
Here are my thoughts on transferring your funds from US.
Open a bank account in Canada and DONT close your US bank Account for atleast couple of months. Before you open your Canadian Bank Account, research for the tie up/ network that your US bank has with the canadian bank. (For eg. Bank of america has tie up with scotia bank, one of the benefit of the tie up is if you withdraw money from Scotia Bank in Canada using Bank of America Debit Card, you will not be charged for the transaction fees.)
Open a bank account in Canada
1. Deposit a personal US check in the canadian bank account. It might take couple of weeks for the amount to be credited.
2. Take a cashier check (SELF) from US bank ( if allowed) and deposit the same in your canadian account. ( Check for the time it takes for the amount to be credited).
3. Do an online transfer of funds from your US bank account t0 Canadian Bank account.
4. Avoid traveller Checks - There are lot of charges involved in it - Processing fee, exchange rate difference etc.
These are my thoughts and may not be the best ones.
Friends - Can you shed more light on the topic and share your thoughts and experiences.
Thanks
King80 said:
Hi Guys,
I have a question regarding tranferering funds to Canada when we land/move to Canada.
Do we also declare the funds we are carrying while we land?
Also, what is the best method to transfer/take your funds to Canada?
As always, thanks for your help.