Hi all
Just wondering, I'm moving over to Canada (initially for 3 months) with my work in the next couple of weeks. I already have my PR visa so all that sort of stuff is done.
I intend on taking enough money to see me though for a few months just need to buy a car immediately upon arrival so I will have more than $10,000.
How is the best way to move this money over?? I know when you fill out those cards on the plane you have to declare any monies over $10k and I'm wondering what happens when they see I have checked the "yes" box. Will I be dragged in for questioning?!?

Should I use one of these companies that help you get a better exchange or just take a cheque over and deposit it into my CIBC account when I arrive?

The customs declaration on the plane applies if you are bringing more than $10k physically on you in cash, travellers cheques, gold bullion etc. If you are transferring it from a UK to a Canadian bank account & don't physically have that much on you (& lets face it, carrying it with you is probably not the way to go!) then you don't tick that box and no worries.

I used Sterling Exchange to transfer the proceeds of our house sale over to Canada and they were great: http://www.sterlingexchange.co.uk/ but I've since used XE.com too, to transfer smaller amounts the other way, and they've also been very efficient: http://www.xe.com/fx/ No way would I take CIBC's exchange rates!

I took 15,000$ cash,filled out the papers and handed them to customs,no problem,end of story

There would only be a problem if you did NOT declare taking in over $10,000 and was caught with that amount on you at immigration. Declaring it means there will be no problem.

We used HIFX to transfer over large sums of money and was very happy with the rate and the service provided.

Either use one of the exchange companies, or a bank transfer, after you have negotiated a better rate than the tourist one The 10k thing is for money laundering, not taxation. I would not anticipate a problem if you declare it. Trouble comes if you dont and they catch you with it. Deffo not the cheque thing, you wont get a good exchange rate, and it could literally take weeks till they will clear the cheque and give you access to your funds.

Thanks all for your replies...
I've never used one of these exchange companies before so I'm nervous about 'handing' over a lot of my hard earned money to have it exchanged.
I've looked on the websites you have mentioned (HIFX and sterlingexchange) but can someone who has used one before give some insight into how it all works and how its 'safe' to use.
Also, what kind of difference in exchange rate can you get.

Thanks

Its been discussed a lot before:
http://britishexpats.com/forum/searc...earchid=788173