All about Fund Transfers

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Subject: All about Fund Transfers
  Hi friends,

I am planning to land in canada in august.I will be required to declare CAD 10000/- as per the law at port of entry.Could you please suggest what are the ways one should take his/her money to canada.And which are the safest way .

I have some ideas--------------.

1) To open a bank account in canadian branch and then trasfer funds
over there here from india.But i am not sure that its possible to
open a account there from india.
2) To convert money into travellers cheques.

3) To carry money in dolars..

Please suggest any other ways for this...

thanks,

[23-06-2005,16:05]
[**.177.3.56]
Neptune
(in reply to: All about Fund Transfers)
Talk to ICICI Bank. They have banking facilities in Canada... May be you can strike up a deal with them...

You can carry the money in Travellers check if you want... I´d rather not carry it in cash, Just a precautionary measure...

If you want to open a bank account in Canada... you can try using ING Direct or President Choice Bank (PC BANK) Both these banks work only online and they dont ahve any branches... you can cehck with them and open an account via Mail... Give it a try... that should work for you...

But I´d say the best bet is ICICI Bank... atleat you see whats going on...

[23-06-2005,22:31]
[**.30.92.5]
- HS -
(in reply to: All about Fund Transfers)
1. ICICI bank has HELLO CANADA accounts for people leaving from India. Open the account and deposit your cash there!!! So the funds are already in Canada by the time you reach.

2. Royal bank of Canada allows you to open accounts online. They have branches too. A poster Saleh told me about this and he was successful in opening an account, show this statement at port of entry and is back home now.

3. IF you do not want to have all the cash in these accounts ( I don´t like all in accounts), keep some travellers cheques (for 5k). Show them that plus funds in these bank accounts.

Hope it helps. if there is any better way, pls let me know too.
Best regards

[24-06-2005,00:34]
[***.158.206.40]
HC
(in reply to: All about Fund Transfers)
Friends,

Thanks for your responses.I think ICICI bank looks good and its a very well established bank here in india.But I am going to land in vancouver and I had gone through the website of ICICI and they just have a branch in toronto in canada.So i doubt if and how to trasfer money to vancouver.
I have also come through a bank known as scotia bank or HSBC which has branches in india and all over canada also.I will visit and find out what are they upto.If you guys have any thing to share please help.

Thanks,
neptune

[24-06-2005,03:37]
[**.177.26.103]
Neptune
(in reply to: All about Fund Transfers)
dear mates,

RBC was straight forward procedures. I had checked with hsbc and citbank and they asked for lots of documents. try rbc. leave them a request online and they will contact you with applications.
you may email me on salehsaleh@link.net and i will mail you the kit.

saleh

[24-06-2005,04:46]
[***.229.241.187]
Saleh
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