How to carry Money From USA to Canada

A

ani70

Registered Users (C)
Hi,
I am a landed immigrant and working in USA for last two years
I am planning to move back to Canada via my own car
Q1:Is there any doller amount limit that I can carry with me.I know anything above CDN$10K I need to report to POE custom officers.Will I need to pay any duty at Candian Custom office if I carry say $30K CDN .I canl show my latest paystubs,W2 form to Custom officers

Q2:Will I need to pay any duty at POE USA Custom office during leaving USA if I carry say $30K ($USD 24k)?I can show my latest paystubs,W2 form to Custom officers.

Q3:Which should be best way to carry money(Traveller Cheque,Bankers Cheque??).Should I sign on those cheques.I heard that if you are carrying any signed banker's cheque of more than USD10K you may need pay tax for that.Is this correct?

Q4: Is wire transfer is better than carrying money during crossing border.I have a Canadian Bank account

Will appreciate your feedback
 
Just deposit a cheque from your US account into canadian account . It takes anytime from 15-30 days for this transfer . Cashiers cheque is relatively faster .

Pay through yoru credit cards (US) in the initial and you can withdraw Canadian cash from the ATM paying 2.5$ fee for withdrawl upto 500$ in canada .
 
Thanks Bhand

Hi Bhand,
Please advice me whether this pan will be OK or not
>>Will carry travellers check $10000 USD
>> Keep remaining amount in US bank and deposite US bank check to my Canadian account as and when required

Do you know whether
(1)I can keep US doller in my Candian Bank account.As conversion rate is very low now I want to take a chance and want to convert if I could get a better rate.
(2) Can I do my US credit card payment(Statemnt in USD) via my Candian account?If yes how they normally calculate equivalent CDN doller amount?

Will appreciate your feedback
 
Hi Bhand,
Please advice me whether this pan will be OK or not
>>Will carry travellers check $10000 USD
>> Keep remaining amount in US bank and deposite US bank check to my Canadian account as and when required

U need to inform at the border for any amount greater Than $10000 cdn .

Do you know whether
(1)I can keep US doller in my Candian Bank account.As conversion rate is very low now I want to take a chance and want to convert if I could get a better rate.

Yes ! You can keep a US dollar account in a canadian bank .

(2) Can I do my US credit card payment(Statemnt in USD) via my Candian account?If yes how they normally calculate equivalent CDN doller amount?

Pay in US $ for US credit card ..

Check out www.tdcanadatrust.com and look for US services account...
 
You must log in or register to reply here.
Top