Has anyone taken money from the UK in the form of a bankers draft and deposited it into a new account in canada. I have a Nat west account in the UK and i am looking to open a HSBC account in winnipeg. Are there any limits to how much you can take?

You're limited to importing $10,000.

It's probably a better idea to use one of the Forex brokers - HIFX, Moneycorp and the like as you will also get a much better rate of exchange...

I've done this twice with HSBC UK to HSBC Canada, got a great rate (their wholesale rate is always extremely competetive imho) and it cost me a tenner each time. There isn't a 10,000$ limit, you just have to "declare" it each time you go through customs if it's more than 10,000$ (assuming you're carrying the cheque with you) to comply with money laundering regulations. You can take as much as you want. I took enough to buy a condo, no probs whatsoever.

Hth

Biiiiink

Don;t expect it to be immediately cleared funds either. I vaguely seem to remember that it took around 2 weeks to 'clear' the cheque with BMO and I spent more time than I care to recall being told that I'd get interest from the day we banked it. Not much help when you need the dosh now!

Smokey...totally off topic here...but I just noticed you are in Swift Current. I'm just being nosy here...but can I ask why you moved there. There is nothing wrong with living there...it's just not the kind of place I would imagine an immigrant going too. Tell me to mind my own business if you'd like...I just find it interesting.

That's true, I had forgotten about that! It didn't matter in my situation but you're right, it may be critically important for someone. HSBC Calgary "held" the money (even though it was a bankers' draft from their own bank!) for 30 days I think. I got the interest spiel too

B

Witness Protection Scheme....but we arent supposed to talk about it

Figured it had to be something like that