Proof of 'Landing Funds" >>>

[omm]

Dear OMM

As POF, I am taking CAD3000 in cash and rest of CAD14000 to be shown in ScotiaBank account statement. SHOULD I tick "Funds more than $10000" OR NOT. BCOZ in-hand money is only CAD3000

Thanks

Rajeev

You don't have to mentioned statement funds. whatever the amount value in your hands mentioned those funds only (as you mentioned CAD$ 3000).

OMM

 

[rajeevnagill]

Dear OMM

Thanks for quick reply.

But I have to show POF amounting to $17000 as settlement funds. That why I need to show Bank Statement. In this case Should I tick "more than $10000"

Thanks

Rajeev

You don't have to mentioned statement funds. whatever the amount value in your hands mentioned those funds only (as you mentioned CAD$ 3000).

OMM

 

[omm]

You can mentioned in B4 forms that you have statement value of some CAD dollars.
your funds already in Canada via canadian banks, so you dont want to mentioned those in other customs form.
Canadian bank statement for POF is ok once asked by officer that how to support your POF.
you can indicate that you have your latest Canadian bank statement for POF.


OMM

 

[Cappuccino]

Absolutely Correct Wayne. it's high risk of travel without sufficient funds which required to finish your landing process.

OMM

Yes - in fact Catsferd if you are not from a visa-exempt country, if they refuse you for landing you will not even be allowed into the country as a visitor and will basically just have a long wait in the airport until you can secure a return flight.

Seriously not worth the risk. If you do not have the funds now could you not postpone your landing trip until you can save the funds up? When does your visa expire?

Wayne.

 

[Cappuccino]

You can mentioned in B4 forms that you have statement value of some CAD dollars.
your funds already in Canada via canadian banks, so you dont want to mentioned those in other customs form.
Canadian bank statement for POF is ok once asked by officer that how to support your POF.
you can indicate that you have your latest Canadian bank statement for POF.


OMM

Hi OMM,

We are landing in just under 3 weeks. We have transferred most of our UK savings with a money company (Halo Financial) to secure a decent rate whilst the UK sterling to CAD is 1.60. We have opened a HSBC Canada bank account and should receive the details within the next few days (account number, sort code etc). So once that is open we can transfer the funds from Halo Financial into the Canadian account.

We will then arrange to get a statement to show the funds in Canadian dollars (should be around $15,800 CAD - well in excess of the minimum $13,800 required).

However, for actual cash we will be taking hardly any - just a few hundred CAD, since we will draw money out once we're there either from the Canadian account if we have cards by then, or if not from our UK bank.

I assume for the forms we have to fill in declaring cash - we just declare the few hundred we are taking and nothing more? Then show the bank statement for our Canadian HSBC account if asked to show POF by the immigration officer?

Wayne.

 

[Mhut]

Hi OMM,

We are landing in just under 3 weeks. We have transferred most of our UK savings with a money company (Halo Financial) to secure a decent rate whilst the UK sterling to CAD is 1.60. We have opened a HSBC Canada bank account and should receive the details within the next few days (account number, sort code etc). So once that is open we can transfer the funds from Halo Financial into the Canadian account.

We will then arrange to get a statement to show the funds in Canadian dollars (should be around $15,800 CAD - well in excess of the minimum $13,800 required).

However, for actual cash we will be taking hardly any - just a few hundred CAD, since we will draw money out once we're there either from the Canadian account if we have cards by then, or if not from our UK bank.

I assume for the forms we have to fill in declaring cash - we just declare the few hundred we are taking and nothing more? Then show the bank statement for our Canadian HSBC account if asked to show POF by the immigration officer?

Wayne.

Hi Wayne,

I was thinking of doing the transfer now as well as the exchange rate is a little higher for the past couple of days.

 

[mitali]

Hi OMM,

We are landing in just under 3 weeks. We have transferred most of our UK savings with a money company (Halo Financial) to secure a decent rate whilst the UK sterling to CAD is 1.60. We have opened a HSBC Canada bank account and should receive the details within the next few days (account number, sort code etc). So once that is open we can transfer the funds from Halo Financial into the Canadian account.

We will then arrange to get a statement to show the funds in Canadian dollars (should be around $15,800 CAD - well in excess of the minimum $13,800 required).

However, for actual cash we will be taking hardly any - just a few hundred CAD, since we will draw money out once we're there either from the Canadian account if we have cards by then, or if not from our UK bank.

I assume for the forms we have to fill in declaring cash - we just declare the few hundred we are taking and nothing more? Then show the bank statement for our Canadian HSBC account if asked to show POF by the immigration officer?

Wayne.

Hi Wayne,

Its just the cash that you carry with you should not be more than $10,000 CAD. You are good to go with your few hundreds in hand and the bank statement. The officer will ask you- How much cash are you carrying? And he will note down the amount you mention for records.

Happy landing Wayne.

Mitali

 

[omm]

Correct mitali,
Wayne its ok if you have some hundreads or thousand dollars and rest of with form of Bank statement for POF. it's accepted.
wish you all the best Wayne.

OMM

 

[Mhut]

Thanks Mitali & Omm

This has answered my uncertainty too.

You guys are amazing with all you do to put members minds at rest with time and dedication to answer so many

 

[mitali]

More on the topic of how much and what to declare and why:

http://www.cbsa-asfc.gc.ca/publications/pub/bsf5052-eng.html

Monetary instrument of any kind needs to be reported. Failure to comply can
result in civil and criminal penalties and may lead to forfeiture of your monetary
instrument(s).

Monetary instruments include:

1) foreign coins and currency;
2) Traveler checks in any form;
3) Negotiable instruments (including checks, promissory notes,
and money orders) that are either in bearer form, endorsed
without restriction, made out to a fictitious payee, or otherwise in a form that the funds can be transferred to another
person;
4) Incomplete instruments (including checks, promissory
notes, and money orders) signed, but with the payee’s name
omitted; and
5) Securities or stock in bearer form or otherwise in a form that
the funds can be transferred to another person.

However, the term “monetary instruments” does not include:

1) Checks or money orders made payable to the order of a
named person which have not been endorsed or which bear
restrictive endorsements;
2) Warehouse receipts; or
3) Bills of landing

Mitali

 

[shankariyer]

Qorax, hi there
I am bit late to read this. I am landing in September. I have opened bank account with RBC. I intend to wire transfer 80% funds and 20% cash. Can the wire transfer details to my account and statement of account will be accepted as proof of funds.
As always, need your advise.

 

[Cappuccino]

Hi Wayne,

I was thinking of doing the transfer now as well as the exchange rate is a little higher for the past couple of days.

Do it NOW It's just hit 1.63!!

Annoying since we did it when it was 1.60 (and got 1.586 from the transfer company). If you use a transfer company you might be able to get as high as 1.615 or so.

Wayne.

 

[Cappuccino]

Hi Wayne,

Its just the cash that you carry with you should not be more than $10,000 CAD. You are good to go with your few hundreds in hand and the bank statement. The officer will ask you- How much cash are you carrying? And he will note down the amount you mention for records.

Happy landing Wayne.

Mitali

Actually my understanding is that you CAN carry more than $10,000 cash but you have to inform them if you are.

But we won't be carrying anywhere near that much (probably not even $1,000) so it's all good

Wayne.

 

[omm]

you can carry >10k but you have to declare it in customs form.
if its cash or draft or TC.

OMM

 

[hfcanada]

hi All Experts,

Need your help- can i carry 5000 USD $ cash and remaining amount in CAD ?

Please suggest

Thanks