Proof of 'Landing Funds" >>>

[nurse_angel]

Dear Qorax.
I am from Philipines. My query is regarding my proof of funds. I already have my PR visa and I intend to land in Saskatoon in March 2012. When I applied for my visa, I presented my bank certificate with a peso account which is equivalent to 14,000 USD. Since I can't carry the money in peso, I opened a US dollar account in the same bank so I can withdraw US notes later. The money I will use to buy dollars from the market is from the peso account that I used during application. The bank offers a lower exchange rate compared outside. As far as I know we need to secure an updated bank certificate to the IO when we land. My questions are:
1. Can I present to the IO in Canada a new certificate using my dollar account? Or should it be the peso account I used during the application?
2. My problem is if I use the peso account, I should buy the dollars at the same bank which has a lower rate. Do you have any suggestions regarding my problem?
3. If I maintain the $11,115 requirement in my account how many % should I bring & leave?

Thank you so much!

Best Regards,
nurse_angel

4. how old should the updated bank certificate be before you land?

 

[asyousuf]

Hi angel

1. U can show proof of fund in any currency but should be equivalent to CHC specified value in CAD.
2. Ideally carry cash, Traveller's cheque or demand draft.
3. Bank statement is only acceptable if the account is with canadian bank or have presence in canada and amount alreay being transferred to said bank in Canada.
4. Lenght of statement...at the time of landing..is not an issue at all. All u need to prove that amount shown as proof of funds is in your hand and being transferred or transferrable to canada.

Read the process at the below link as well..
http://www.cic.gc.ca/english/immigrate/skilled/funds.asp

gud luk
asyousuf

 

[quincyays]

How much is the tax/fees/dst if there is, when you en-cash the TC's/Bank Draft? Thanks.

 

[asyousuf]

How much is the tax/fees/dst if there is, when you en-cash the TC's/Bank Draft? Thanks.

Differs from Bank to Bank

 

[quincyays]

Differs from Bank to Bank

say the average? HSBC, RBC, etc.. tnx

 

[qorax]

say the average? HSBC, RBC, etc.. tnx

Bank Draft/s : No Charges

For Travellers-Cheques here's an example:

RBC Royal Bank : Travellers Cheques
Table caption...................................Service Fee
Purchases of travellers cheques..........1.25% of total purchase for single signature
....................................................3% of total purchase for Canadian Gift-cheques
Encashment of travellers cheques.......$3.00 each

Qorax

 

[fareeha]

Hi Qorax,
We are 5 family members including spouse and children. Our minimum proof of fund on landing is C$23,364/- .
My question is that, It was written in www.settlement.org that if you have more than 10,000 dolars than you have to disclose them in front of CBSA officer and fill a form. They have actually mentioned it for one person [Main applicant]. But since we are five persons and one person will be keeping the whole amount, than will he be required to submit the form to CBSA officer?

 

[pittabread]

Hi Qorax,
We are 5 family members including spouse and children. Our minimum proof of fund on landing is C$23,364/- .
My question is that, It was written in www.settlement.org that if you have more than 10,000 dolars than you have to disclose them in front of CBSA officer and fill a form. They have actually mentioned it for one person [Main applicant]. But since we are five persons and one person will be keeping the whole amount, than will he be required to submit the form to CBSA officer?

Hi!

I know you asked this question to qorax but I would like to asnwer. As one person is keeping the whole amount then yes he will have to declare and fill the form and submit it to CBSA. In declaration card too he has to tick yes "Currency and/or monetary instruments of a value totalling CAN$10,000 or more per person"

He can fill the E667 form in advance but sign in presence of CBSA officer

http://www.cbsa-asfc.gc.ca/publications/forms-formulaires/e677.pdf

and the landing card you will get is

http://www.cbsa.gc.ca/publications/forms-formulaires/e311-eng.pdf


Thanks

 

[jnathan]

Are you sure RBC, Scotiabank charges $3 for enchashing Travelers Cheques?

 

[omm]

Read here on Scotiabank Commission : Regular Travellers Cheques: :
http://www.scotiabank.com/ca/en/0,,69,00.html

OMM

Are you sure RBC, Scotiabank charges $3 for enchashing Travelers Cheques?

 

[kazuhirowatanabe_30]

Qorax,

Just three quick questions:
1. Was/is there somebody you know wherein upon landing, their "actual" money or their proof of funds was counted by the immigration officer?
2. Are they really strict about this?
3. If I have my family in Canada, and my money, upon entering in Canada is less than the required actual amount by CAD $4,000. Do you think they will still be strict about this?

Thanks!

 

[nurse_angel]

Hi angel

1. U can show proof of fund in any currency but should be equivalent to CHC specified value in CAD.
2. Ideally carry cash, Traveller's cheque or demand draft.
3. Bank statement is only acceptable if the account is with canadian bank or have presence in canada and amount alreay being transferred to said bank in Canada.
4. Lenght of statement...at the time of landing..is not an issue at all. All u need to prove that amount shown as proof of funds is in your hand and being transferred or transferrable to canada.

Read the process at the below link as well..
http://www.cic.gc.ca/english/immigrate/skilled/funds.asp

gud luk
asyousuf

Dear Asyousuf,
Thank you for answering my queries. I'm relieved... take care!
Angel

 

[fareeha]

Hi!

I know you asked this question to qorax but I would like to asnwer. As one person is keeping the whole amount then yes he will have to declare and fill the form and submit it to CBSA. In declaration card too he has to tick yes "Currency and/or monetary instruments of a value totalling CAN$10,000 or more per person"

He can fill the E667 form in advance but sign in presence of CBSA officer

http://www.cbsa-asfc.gc.ca/publications/forms-formulaires/e677.pdf

and the landing card you will get is

http://www.cbsa.gc.ca/publications/forms-formulaires/e311-eng.pdf


Thanks

Thanks Pittabread,
Will we get the landing card at Canadian Airport and fill it there, or we carry it with us?

 

[omm]

http://www.canadavisa.com/canada-immigration-discussion-board/-t41271.0.html
see hmisabpk landing experience for POF Number: 5 he show cash but not counted by officer.
Thats depend on officer at POE. so do not think that they will not check.
some members here I seen at POE officer never asked for POF too. but that doesn't mean they will not ask to you to show POF.
Canada gives you lots of opportunity so, just follow the POF rules till landing.
Best Luck

OMM

Dear Asyousuf,
Thank you for answering my queries. I'm relieved... take care!
Angel

 

[asyousuf]

Hi Qorax,
We are 5 family members including spouse and children. Our minimum proof of fund on landing is C$23,364/- .
My question is that, It was written in www.settlement.org that if you have more than 10,000 dolars than you have to disclose them in front of CBSA officer and fill a form. They have actually mentioned it for one person [Main applicant]. But since we are five persons and one person will be keeping the whole amount, than will he be required to submit the form to CBSA officer?

Dear..
Proof could be in any form..as u mentioned in your PM. What i recommend is TC or Cash only as DD takes 30 days to credit (i had this experience).

Hope u have read the procedure mentioned on CHC website that more than CAD 10,000 needs to be declared...but my point is that what is the harm in declaring amount even lesser than CAD 10,000. (http://www.cic.gc.ca/english/immigrate/skilled/funds.asp)

Declare what ever u have as they will be happy to c declaration and amount brought to the country and will not bother either seeing it or question it. I was simply asked by IO but did ask me to show anything. Please note that CHC demands declaration only and NOT SURRENDER.

Be cool and go ahead
gud luk
asyousuf