How to and best way of getting money

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jeejo
Member since: Feb 06

Posts: 7
Location:
Post ID: #PID

Posted on: 27-02-06 06:05:33

I dont think it is mandatory to prove you are bringing in money to canadian authorities. Its for your survival, I believe.

sudesingh
Member since: Jul 04

Posts: 2085
Location: Toronto
Post ID: #PID

Posted on: 27-02-06 13:32:05

Would suggest get a bank draft in Canadian funds. With this roller coaster ride in exchange rates, you will stand to loose everytime US $ drops

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Manasvi
Member since: Sep 03

Posts: 733
Location: Bahrain
Post ID: #PID

Posted on: 28-02-06 01:06:04

How much money is permissible to take out from India whille coming 2 Canada ??

Manasvi.

msboparai
Member since: Jan 06

Posts: 15
Location:
Post ID: #PID

Posted on: 06-03-06 10:52:56

I will be landing in canada in late march, I have decided to take half of money in form of bank draft from Bank of maharashtra payable at Bank of Nova Scotia and rest in form of TC's of american express.

Kindly comment on my decision

Pramod Chopra
Member since: Sep 03

Posts: 1284
Location: Pickering, ON
Post ID: #PID

Posted on: 06-03-06 11:59:00

Quote:
Orginally posted by msboparai

I will be landing in canada in late march, I have decided to take half of money in form of bank draft from Bank of maharashtra payable at Bank of Nova Scotia and rest in form of TC's of american express.

Kindly comment on my decision

Whether it is a draft or travellers cheques, please make sure that these are in Canadian Dollars only. Otherwise not only you would pay for exchange twice, you may also lose money because of unstable US Dollar.

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Pramod Chopra
Senior Mortgage Consultant
Mortgage Alliance Company of Canada

Manasvi
Member since: Sep 03

Posts: 733
Location: Bahrain
Post ID: #PID

Posted on: 07-03-06 02:12:04

Quote:
Orginally posted by Manasvi

How much money is permissible to take out from India whille coming 2 Canada ??

Bounce.......... (Any answers?)

Manasvi

LD
Member since: Jul 05

Posts: 526
Location:
Post ID: #PID

Posted on: 07-03-06 04:03:31

Hi Manasvi,

Person going abroad on emigration can draw foreign exchange upto USD100,000 on self- declaration basis from an authorized dealer in India. This amount is only to meet the incidental expenses in the country of emigration.

(No amount of foreign exchange can be remitted outside India to become eligible or for earning points or credits for immigration. All such remittances require prior permission of the Reserve Bank.)

Contributors: Manasvi(4) LD(3) Pramod Chopra(1) desiman3(1) sonusingh(1) goodfriend(1) chittesh(1) jeejo(1) Smiley(1) sudesingh(1) Azazf(1) msboparai(1) Iceberg(1)

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