US Bank A/c Statement acceptable on landing for proof of settlement fund ?

[mdarji]

I have US Bank account statement (HSBC bank), when I have checked with them(HSBC) they said I would not be able to access my fund which is there in US based HSBC bank a/c in CAD (Canadian Dollars) in Canada.

So, in that case do you think if I show US (HSBC) bank statement at the time of landing as a proof of settlement fund - they will accept ?

 

[me2land]

I don't know if there is anyone with a personal experience here but the funds needs to be accessible in Canada so they will likely not accept.

¬m2l

 

[canadp]

I provided US Bank A/c Statement printed online.

Didn't get any issue so far.

Got medical request last month and waiting for passport request now.

I have US Bank account statement (HSBC bank), when I have checked with them(HSBC) they said I would not be able to access my fund which is there in US based HSBC bank a/c in CAD (Canadian Dollars) in Canada.

So, in that case do you think if I show US (HSBC) bank statement at the time of landing as a proof of settlement fund - they will accept ?

 

[deep9]

Hi mdarji
As far as I remember someone on the forum has used it as proof of funds at landing. So, you are good to go. Though wait for inputs from other senior members.
Good luck and do post your landing experience. By the way, when are you planning to land?

 

[sk.aggarwal]

If you want to use for landing .. would suggest get a cashiers check made at your bank (in USD) in your name carry it over. If you intend to return back to US soon, just deposit it back in the bank. This is what I am planning to do.

 

[max_lee]

I don't know if there is anyone with a personal experience here but the funds needs to be accessible in Canada so they will likely not accept.

¬m2l

WRONG

In my case they accepted a Bank statement of a US Bank(credit Union) and I am sure they would accept a bank statement from a Bank such as HSBC. I personally called CBSA before proceeding to land via Detroit-Windsor, so mdarji you are good to go with a statement from Bank in US to show POF. All the best for your landing, BTW which is the port of entry you are planning to land ?, you can double check with CBSA at that POE as well.

Max

 

[rocky272727]

I have US Bank account statement (HSBC bank), when I have checked with them(HSBC) they said I would not be able to access my fund which is there in US based HSBC bank a/c in CAD (Canadian Dollars) in Canada.

So, in that case do you think if I show US (HSBC) bank statement at the time of landing as a proof of settlement fund - they will accept ?

It will be accepted.

 

[mdarji]

Hi mdarji
As far as I remember someone on the forum has used it as proof of funds at landing. So, you are good to go. Though wait for inputs from other senior members.
Good luck and do post your landing experience. By the way, when are you planning to land?

Sure, I am planning to land in around June..

 

[sharma77]

go ahead , BANK STATEMENTS FROM ALL OVER THE GLOBE R ACCEPTED AS POF! GOOD LUCK

 

[mdarji]

WRONG

In my case they accepted a Bank statement of a US Bank(credit Union) and I am sure they would accept a bank statement from a Bank such as HSBC. I personally called CBSA before proceeding to land via Detroit-Windsor, so mdarji you are good to go with a statement from Bank in US to show POF. All the best for your landing, BTW which is the port of entry you are planning to land ?, you can double check with CBSA at that POE as well.

Max

Thank you very much for your valuable input on this. my POE will be Toronto. Yeah, I will check with CBSA. One more thing - Since I was previously in US and had a HSBC a/c. But, last year have moved from US to India. So currently I am in India and will be travelling from India to Toronto and showing POF as US Bank Statement.

 

[me2land]

The operation manual clearly states that funds need to available and that's why they're called "settlement funds".Even though landing and going back is allowed the system is not designed to work that way and the funds are supposed to help you settle in the first few months.The fact that your bank said the funds are not available in Canada is a problem. Enforcement is totally a different issue and if someone gets away with it doesn't mean you will. Landing by land from the US is also more lenient regarding funds than from Asia. I personally don't think they have an easy way of proving if funds are available in Canada or not but why take risk if you don't have to.

 

[deep9]

Thank you very much for your valuable input on this. my POE will be Toronto. Yeah, I will check with CBSA. One more thing - Since I was previously in US and had a HSBC a/c. But, last year have moved from US to India. So currently I am in India and will be travelling from India to Toronto and showing POF as US Bank Statement.

Hi mdarji
Did you check with CBSA? Can bank statement be submitted as proof of funds at landing?

 

[jes_ON]

The operation manual clearly states that funds need to available and that's why they're called "settlement funds".Even though landing and going back is allowed the system is not designed to work that way and the funds are supposed to help you settle in the first few months.The fact that your bank said the funds are not available in Canada is a problem.

me2land, I think there is some confusion in the way mdrarji explained it. HSBC was saying that HSBC USA and HSBC Canada are separate banks, and an account in one country is not linked to an account in another country. There would be no "direct access" to funds just because the bank has the same name (HSBC).

That is not the same thing as "no access." Funds in an HSBC USA account can be accessed in the usual ways (e.g. wire transfer, EFT, debit card) but within Canada, HSBC USA will be treated like a foreign bank, even at HSBC Canada.

mdarji, no worries, you can use the USA bank statement.

 

[deep9]

According to http://www.cic.gc.ca/english/immigrate/skilled/funds.asp

Disclosure of funds
If you are carrying more than C$10,000, tell a Canadian official when you arrive in Canada. If you do not tell an official, you may be fined or put in prison. These funds could be in the form of:

•cash
•securities in bearer form (for example, stocks, bonds, debentures, treasury bills) or
•negotiable instruments in bearer form (for example, bankers' drafts, cheques, travellers' cheques or money orders).

So if we need to carry all in cash, draft, check form why would they even bother to say that 'If you are carrying more than C$10,000, tell a Canadian official when you arrive in Canada.', they could simply tell us to declare the funds. So that, kind of, indicates that bank statements should be fine.

 

[amgra]

I have US Bank account statement (HSBC bank), when I have checked with them(HSBC) they said I would not be able to access my fund which is there in US based HSBC bank a/c in CAD (Canadian Dollars) in Canada.

So, in that case do you think if I show US (HSBC) bank statement at the time of landing as a proof of settlement fund - they will accept ?

Hello, please allow me to ask if you finally tried using the US bank statement at the time of landing for proof of funds?
I want to do the same as you, because carrying cash is not secure.

Thank you for your response in advance.
Alex