Hi,

I plan to land sometime next month - I have two questions about the proof of funds we need to bring with us:

1. Bank Draft - Can I take an Indian Rupee (INR) bank draft or does it need to be in CAD?

2. Is it possible to just take a bank statement from my local bank as a proof of funds statement? Can I take the latest bank statement from my local bank/transaction slip from an ATM which is closest to the landing date?

Thanks in advance for all your help!
Regards,
V.

Hi
You need to show the funds on entry at airport in canada.
It can be in the form of draft/cash/travellers cheque and draft in favour of bank in canada.
Proof of funds in India or receipts are of no use.
Though you may declare those to transfer them later on tax free.

Hi Regar,

Thanks for the info. I had a specific query about the draft.

Is it mandatory to have a Canadian Dollar Draft? Or is it OK to have a Indian Rupee draft?

Since it is easier for me to get an Indian Rupee draft, I wanted to confirm whether this is allowed.

Regards
V

I am not very sure of draft in Indian rupees but on second thought what use is a draft in Indian rupees in Canada you will have to change it to USD OR Canadian dollars to open a account and i guess charges for conversion may be cheaper in India

Bring some cash/traveller's cheques too for intitial expenses (rent, groceries, travelling). Drafts could take a long time to clear.

I think you get a letter from CIC stating how the funds can be carried. Did you get it?

There should be plenty previous posts on this subject. Do a "Search in Charcha."

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I think it is better if you bring a Draft in your name in USD or CAD, unless you are trying to go back to India after few days /weeks and just trying to show this as the fund you are bringing in. A DD in Indian rupees might land you in trouble, if the landing officer gets suspicious about your intentions ( The money you are supposed to bring in is the initial set up cost which will see you through the landing and initial period ). Moreover if you try to deposit this in any Canadian bank, the corresponding bank will be based in US, and during conversion you might lose few percentages. Obviously it is difficult to get funds transferred to USD/CAD in India, but you have to go through the proccess and there is no alternatives.
If you get a DD in USD you can always take it back to India and you might earn a bit more money depending on the exchange rate, for sure you won't lose much.

remember the currency is the strongest in its own country.