Posted on: 16-07-06 14:45:51
Did any one approched ICICI Bank in India to bring $15,000 or $20,000 or $200, 000 money to Canada
The money reaches before you land in Canada and you can withdraw your money after opening your account with ICICI Canada..........................
Hi Paramhams03,
You are right. You may need a little more for first month to rent an apartment. Average of $2500 to $3000 per month should see you through. For First month add $2500 lumpsum extra, especially for first and last month deposit for apartment. However funds are available after about 3 weeks in bank. Very rarely they may take a max of 5 weeks. However to be free of tension you may enhance travellers cheques to $5000.00
I had said if I were you. I usually carry some credit cards for emergency use, which I don't otherwise use.
For details of monthly expenses, there has been lot of discussion in forum, so kindly do a search and you will have plenty to read.
Yes, what LD is suggesting is correct. But if you think $ 2500 T/C's are not enough, then you may divide as much as you feel comfortable (may be $ 4000). I am not sure where are you landing, but I heard that in GTA, you have to pay one month deposit and one month advance rent (in Vancouver, it is 1/2 month deposit & one month advance rent).
If you are bringing draft of SBI, then try to deposit it in SBI in Canada (depends where are you landing and whether that city have SBI branch) or if ICICI draft, try to deposit in ICICI. In such case, you will be able to access your money (draft) early, as one of my friend had told me.
Expenses vary & it's difficult to estimate. But broadly speaking (just for your budgeting purpose), whatever price in India for the things you want to buy, you find the price for it in indian rupees and divide by 10 to get CAD (this is approx. you will spend here in Canada).
Quote:
Originally posted by paramhams03
LD,Thanks.
But I am not too sure whether smaller denominations would be available in India.Secondly,would 2500CAD be enough if the banks are going to hold the funds for long period of time.I guess as soon as I land,I will have to pay the initial rent advance of around 1200 CAD while signing the agreement and I am not sure about the other settling expenses such as buying a system,TV,mobile, some furniture etc.
I will be grateful if someone can give me a breakup of these expenses in the initial settling down period.
It is not only the best way to take it via ICICI but do also open up a new comers account in India to get a credit card other wise that would be an issue. Further the fund has to be in the name of principal applicant but you can open up a joint account. Do contact ICICI as they offer services which are unparallaled for any new immigrant especially from India.
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Ash
Our CD members
Ash20(2) LD(3) paramhams03(3) rajuyathi(2)
Smiley(1) will discuss all the possibilities before coming to a conclusion.....................................................
I am happy that you know the best way to take money to Canada while immigrating.
Just a quick check. Is $5000 enough for one person to spend ~4 months in self-support? Looks like yes, but, would like to get your confirmation.
Thanks,
Quote:
Originally posted by rajuyathi
Just a quick check. Is $5000 enough for one person to spend ~4 months in self-support? Looks like yes, but, would like to get your confirmation.
Thanks,
Asking the same question again. I would easily survive (flourish) with $5000 for 4-5 months, but I cannot say the same about you. It all depends how you wish to live and move around. If you dont have any inhibitions and the cheapest solution is the best solution for you, that amount should be enough. If you live life kingsize, that wont last you even a week...
Hope that clears.
I opened Hello Canada account with ICICI and it was a very good move. But they do not give canadian account Credit Cards in India. You may get only an Indian Ruppee CC which you need to settle in INR.
Hiren
