Hi,
I plan to move to canada in a months time. I have acouple of query regarding funds
1. Fund Movement : I have been advised by HDFC to carry my cash (Canadian Dollars) loaded in Pre paid Card instead of DD/TC. The conversion charges are very less for this just 15/25 p over Bank Reference Rate.They call it as forex card.
I am told that the entire money can be swiped off my prepaid card onto my Canada Bank a/c as and when I have one.
Can anyone confirm the same if any such instrument is entertained in Canadian banks and also if there are any further processing charges to it.
2. Term Insurance : Is it advisable to get in India itself or should it be done in Canada. LIC /HDFC all say it is valid even if u change ur citizenship status.
What are the charges for insurance cover of 1 lac Can$ for a non smoker with no medical history.
3. Travel Insurance : Since it takes 3 months to get medical cover in Toronto should i get my medical insurance from india or should it be done in canada itself.
Thanks
Rakesh Dhankhar
Hi Rakesh,
Have sent you a PM. Kindly check.
Regards,
VJ.
I am not familiar with Forex card but you need to check what is ATM's fee and what the issuing bank is going to charge per withdrawal. Find out if you can withdraw everything in the card in one go and deposit the cash in your Canadian bank account.
Regarding travel insurance I personally think if you are coming as an immigrant, you should get from Canada. You can check coverme.com or bluecross.ca
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Quote:
Originally posted by rags
Hi,
I plan to move to canada in a months time. I have acouple of query regarding funds
1. Fund Movement : I have been advised by HDFC to carry my cash (Canadian Dollars) loaded in Pre paid Card instead of DD/TC. The conversion charges are very less for this just 15/25 p over Bank Reference Rate.They call it as forex card.
I am told that the entire money can be swiped off my prepaid card onto my Canada Bank a/c as and when I have one.
Can anyone confirm the same if any such instrument is entertained in Canadian banks and also if there are any further processing charges to it.
2. Term Insurance : Is it advisable to get in India itself or should it be done in Canada. LIC /HDFC all say it is valid even if u change ur citizenship status.
What are the charges for insurance cover of 1 lac Can$ for a non smoker with no medical history.
3. Travel Insurance : Since it takes 3 months to get medical cover in Toronto should i get my medical insurance from india or should it be done in canada itself.
Thanks
Rakesh Dhankhar
Quote:I am not sure what's a "pre-paid" card that can just be swiped and the entire balance (possibly thousands of $$) be transferred instantly inter-bank.
Originally posted by rags
1. Fund Movement : I have been advised by HDFC to carry my cash (Canadian Dollars) loaded in Pre paid Card instead of DD/TC. The conversion charges are very less for this just 15/25 p over Bank Reference Rate.They call it as forex card.
I am told that the entire money can be swiped off my prepaid card onto my Canada Bank a/c as and when I have one.
Can anyone confirm the same if any such instrument is entertained in Canadian banks and also if there are any further processing charges to it.
Quote:You may keep your Indian LIC policy of you like.
2. Term Insurance : Is it advisable to get in India itself or should it be done in Canada. LIC /HDFC all say it is valid even if u change ur citizenship status.
Quote:You can get quotes from insurance agents (some have already posted above).
What are the charges for insurance cover of 1 lac Can$ for a non smoker with no medical history.
Quote:Get it here in Canada.
3. Travel Insurance : Since it takes 3 months to get medical cover in Toronto should i get my medical insurance from india or should it be done in canada itself.
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