Settlement Funds in US Dollars

[FAW Canada]

Dear Forum Members,

I have a query pertaining to settlement funds. We intend to do our landing in next few weeks and plan to carry US Dollar bank drafts and just 2000 or so Canadian Dollars in Cash as proof of funds. Is it acceptable to show proof of funds upon landing in US Dollar or only Canadian Dollar is acceptable?

Your prompt response will be much appreciated.

 

[scylla]

US dollars are absolutely fine.

 

[Hari412]

US dollars are absolutely fine.

Would a bank statement showing POF in USD work? Or will I need a DD, TC or some other form of proof? I will carry some cash and a debit card which can be used in any ATM without any fees.

 

[Jasr19]

I have the same question. I am planning to take some bank account statements but I don't know if this will work!

Would a bank statement showing POF in USD work? Or will I need a DD, TC or some other form of proof? I will carry some cash and a debit card which can be used in any ATM without any fees.

 

[vehla_ji]

I have the same question. I am planning to take some bank account statements but I don't know if this will work!

Would a bank statement showing POF in USD work? Or will I need a DD, TC or some other form of proof? I will carry some cash and a debit card which can be used in any ATM without any fees.

yes it does works and if they ask you can ask them to open an online bank account to show funds and they allow you to use phone or laptop to show online funds. as long as you have money in you account you don't need to get DD< TC or anything. for safe side get latest bank statement and if possible stamped by branch.

 

[sharat_joshi77]

yes it does works and if they ask you can ask them to open an online bank account to show funds and they allow you to use phone or laptop to show online funds. as long as you have money in you account you don't need to get DD< TC or anything. for safe side get latest bank statement and if possible stamped by branch.

I dont think the online statements will be acceptable.
The settlement funds are the funds you have in Canada. If they cannot be withdran in Canada, am not sure if they will be acceptable.

These funds could be in the form of:

1. cash
2. documents that show property or capital payable to you (such as stocks, bonds, debentures, treasury bills, etc.) or
3. documents that guarantee payment of a set amount of money, which are payable to you (such as bankers’ drafts, cheques, travellers’ cheques or money orders).

Online statements are a gray area as they can be arranged in any other way...

If I were you, and have the money, I would bring in any one of the above formats...

Hope that helps.