Transfer £ to CAD.

[kryt0n]

You would be better off adding more £s to the balance. If you convert your £ into CAD and you need the £, you will have to reconvert and lose again. IMO, it's best to keep money where you can physically manage it.

If I could add more £ I would!!!! I'm concerned because I'm close to the lcio. Closer than I feel comfortable. I agree it would be easier keeping it in £ but I thought it might be safer to lock it into CAD.

 

[xpressentry]

If I could add more £ I would!!!! I'm concerned because I'm close to the lcio. Closer than I feel comfortable. I agree it would be easier keeping it in £ but I thought it might be safer to lock it into CAD.

Skipping repaying the UK student loan for a month or 2 may help

 

[kryt0n]

Skipping repaying the UK student loan for a month or 2 may help

Ha! Comes straight outta my salary that one!!!

Ugh. At $16,000 we are close to the line. Can't afford the £ to drop much more.

However if they count only the rate on submission then I'm technically ok. Just concerned tbh.

 

[kryt0n]

Damn it xpressentry. I was happy with my choice to move my money to CAD. Now you've thrown me off completely. Fucking hell.

 

[Catie1989]

Damn it Brexit!

 

[xpressentry]

I would say damn it Philip Hammond. He created the mess.

 

[vensak]

Damn it xpressentry. I was happy with my choice to move my money to CAD. Now you've thrown me off completely. *censored word* hell.

Unless you think, that you need to reach that Money fast, you can do the Exchange to CAD already.
What you would be loosing (in case of an emergency need), is the buy against sell Exchange rate difference.
It is not like you will loose thatt Money. it is also clear, that if all will go well, you will need some of them in order to start over in Canada.

So if you estimate, that GBP course will worsen, go ahead.

 

[kryt0n]

Unless you think, that you need to reach that Money fast, you can do the Exchange to CAD already.
What you would be loosing (in case of an emergency need), is the buy against sell Exchange rate difference.
It is not like you will loose thatt Money. it is also clear, that if all will go well, you will need some of them in order to start over in Canada.

So if you estimate, that GBP course will worsen, go ahead.

Indeed, thank you.

I had another thought last night. I get paid again next week which is going to bump up my £ just that bit more.

I'll get my statements then with about $2000 above the min in exchange. After I submit I'll transfer $15,500 to CAD (the amount i declared in EE) and therefore have it stable throughout the PR app incase they ask again.

 

[vensak]

Indeed, thank you.

I had another thought last night. I get paid again next week which is going to bump up my £ just that bit more.

I'll get my statements then with about $2000 above the min in exchange. After I submit I'll transfer $15,500 to CAD (the amount i declared in EE) and therefore have it stable throughout the PR app incase they ask again.

Attention,
you also need to submit history of your account (at least 6 months), so that they can see, that Money was there already.

 

[kryt0n]

Attention,
you also need to submit history of your account (at least 6 months), so that they can see, that Money was there already.

Yes indeed

My current UK bank won't issue a letter so for my application I am submitting 6 months UK statements with full funds in. I'm also submitting my old empty CIBC statements.

Then when I move the money I'll keep the e-transfer receipt and all the statements from my UK account where it all came from. There will be a genuine trace of the cash.