nagarjuna28

Hi,
I am planning to move from Chicago to Toronto via rented car.I am a Canadian Landed immigrant working in USA for last two years and now moving back to Canada
I have couple of question regarding carrying US doller from USA to Canada via road
Q1: Is there any limit that I can carry with me.I know at POE I need to declare to Canadian Custom if I am carrying more than CDN$10,000 but do I need to give proof of my income or could there be any other issue?
Q2:At POE do I need to declare to US custom also if I carry more than US$10000 with me?Do I need to show US custom officials my proof of income?Do I need to pay any duty?
Q3:What should be the best way to carry doller?Traveller Check or Cashier Check??
Q4: POE officer phone number at Ambassader Bridge(Detroit & Windsor)
Initially I thought of transfering money via wire transfer from my US bank account to Canadain Bank account but as I don't have US doller account in my Canadian bank account I can't keep my money in US doller in my Canadian bank (I only came to know about this rule couple of days back).As exchange rate is now pretty low I don't want to convert USD into CDN$ right now so ruling out wire transfer option
Will appreciate your feedback

Pmm

Hi Naga

"nagarjuna28" <member17377@british_expats.com> wrote in message
news:[email protected]...
    > Hi,
    > I am planning to move from Chicago to Toronto via rented car.I am a
    > Canadian Landed immigrant working in USA for last two years and now
    > moving back to Canada
    > I have couple of question regarding carrying US doller from USA to
    > Canada via road
    > Q1: Is there any limit that I can carry with me.I know at POE I need to
    > declare to Canadian Custom if I am carrying more than CDN$10,000
    > but do I need to give proof of my income or could there be any
    > other issue?

No limit, but if you were carry a very large amount in cash, they probably
would look at you very closely, drugs, money laundering.
    > Q2:At POE do I need to declare to US custom also if I carry more than
    > US$10000 with me?Do I need to show US custom officials my proof of
    > income?Do I need to pay any duty?

Yes, No, No.
    > Q3:What should be the best way to carry doller?Traveller Check or
    > Cashier Check??

Travellers cheques, instant cash.
    > Q4: POE officer phone number at Ambassader Bridge(Detroit & Windsor)
    > Initially I thought of transfering money via wire transfer from my US
    > bank account to Canadain Bank account but as I don't have US doller
    > account in my Canadian bank account I can't keep my money in US doller
    > in my Canadian bank (I only came to know about this rule couple of days
    > back).As exchange rate is now pretty low I don't want to convert USD
    > into CDN$ right now so ruling out wire transfer option
    > Will appreciate your feedback
    > --
    > naga

PMM
    > Posted via http://britishexpats.com

Cd

    > news:[email protected]...
    > >
    > > Hi,
    > >
    > > I am planning to move from Chicago to Toronto via rented car.I am a
    > > Canadian Landed immigrant working in USA for last two years and now
    > > moving back to Canada
    > >
    > > I have couple of question regarding carrying US doller from USA to
    > > Canada via road
    > >

    > > Q3:What should be the best way to carry doller?Traveller Check or
    > > Cashier Check??
    >
    > > Initially I thought of transfering money via wire transfer from my US
    > > bank account to Canadain Bank account but as I don't have US doller
    > > account in my Canadian bank account I can't keep my money in US doller
    > > in my Canadian bank (I only came to know about this rule couple of days
    > > back).As exchange rate is now pretty low I don't want to convert USD
    > > into CDN$ right now so ruling out wire transfer option
    > >

if it's an option, why not leave the money in the US bank and use the
ATM card in Canada? If your US ATM card is a Visa check card then you
could use it every place in Canada. Crossing the border with large
amounts of cash or cash-like instruments makes US customs people
nervous.

Jaj

I thought most Canadian banks were quite happy to offer US dollar
accounts. For example:
http://www.scotiabank.com/cda/conten..._LIDen,00.html

Jeremy

    >On Thu, 20 Nov 2003 18:33:17 +0000, nagarjuna28 <member17377@british_expats.com> wrote:
    >Initially I thought of transfering money via wire transfer from my US
    >bank account to Canadain Bank account but as I don't have US doller
    >account in my Canadian bank account I can't keep my money in US doller
    >in my Canadian bank (I only came to know about this rule couple of days
    >back).As exchange rate is now pretty low I don't want to convert USD
    >into CDN$ right now so ruling out wire transfer option
    >Will appreciate your feedback
    >--
    >naga
    >Posted via http://britishexpats.com

This is not intended to be legal advice in any jurisdiction

Nick B.

All banks offer US$ accounts. I recently was looking to open one in order
to facilitate transfers to and from my US$ account at ING Direct. I found
that RBC Royal Bank has the best account for small balaces (ideal for me
since I don't intend to keep money in there for long, only to deposit and
transfer out immediately. For larger balances, the banks are all pretty
much equal, it seems to be worthwhile to deal with any of them. If you want
US$ accounts that are domiciled in the US but accessible in Canada, you
should deal with TD Canada Trust/TD Waterhouse Bank N.A. or RBC Royal
Bank/RBC Centura.

N.

"JAJ" <[email protected]> wrote in message
news:[email protected]...
    > I thought most Canadian banks were quite happy to offer US dollar
    > accounts. For example:
    > http://www.scotiabank.com/cda/conten..._LIDen,00.html
    > Jeremy
    > >On Thu, 20 Nov 2003 18:33:17 +0000, nagarjuna28
<member17377@british_expats.com> wrote:
    > >
    > >Initially I thought of transfering money via wire transfer from my US
    > >bank account to Canadain Bank account but as I don't have US doller
    > >account in my Canadian bank account I can't keep my money in US doller
    > >in my Canadian bank (I only came to know about this rule couple of days
    > >back).As exchange rate is now pretty low I don't want to convert USD
    > >into CDN$ right now so ruling out wire transfer option
    > >
    > >Will appreciate your feedback
    > >
    > >
    > >--
    > >naga
    > >
    > >
    > >Posted via http://britishexpats.com
    > This is not intended to be legal advice in any jurisdiction

nonong

Although there is a U.S. law that requires you to declare if you are taking $10,000 or more out of the U.S., note that you will not come across U.S. customs when you travel by car from the U.S. to Canada, unless you have to stop by U.S. Customs for another reason, like exporting your vehicle to Canada, or something like that. So encountering U.S. customs should not be an issue.

BOTH U.S. law and Canada law state very clearly that you only have to declare amounts in excess of $10,000 IF the money is in bearer form - that means cash or any other instrument that anyone else other than you can cash. A cashier's check, for example, payable to you in your name but NOT endorsed by you on the back of the check is NOT bearer form. That is the law. I did not know this when I landed, so I made the mistake of asking a lady customs official at the Lewiston-Queenston bridge whether I had to declare my cashiers' checks even if they were not endorsed at the back. I told her that U.S. law did not require me to declare it when I was taking the money out of the U.S. She insisted that Canada law was different and required that I declare all of it. We argued for a while, and in the end, I just filled out the declaration form which was submitted to the agency that looks out for money launderers. I found out later on that she was WRONG WRONG WRONG, but it was too late. Oh well..

HOWEVER, Do not bring cashier's checks like I did. The Canadian banks do not trust anybody and they do not trust U.S cashier's checks. They will hold your money for a minimum of 21 days. CIBC, which seems to think that all new immigrants are thieves, holds the money even longer than the other banks. So stay away from CIBC under any and all circumstances. The best way to bring the money is thru Travellers Checks, PAYABLE TO YOU BUT NOT ENDORSED BY YOU. Once you endorse any check, whether it be a bank draft, money order, cashier's check, traveller's check, etc., then it becomes bearer form. Do not endorse the checks under any circumstances UNTIL you have passed Canada customs.

Webcrawler

Wow ! These are cool tips "nonong".
This has been a great help

"nonong" <member9252@british_expats.com> wrote in message
news:[email protected]...
    > Although there is a U.S. law that requires you to declare if you are
    > taking $10,000 or more out of the U.S., note that you will not come
    > across U.S. customs when you travel by car from the U.S. to Canada,
    > unless you have to stop by U.S. Customs for another reason, like
    > exporting your vehicle to Canada, or something like that. So
    > encountering U.S. customs should not be an issue.
    > BOTH U.S. law and Canada law state very clearly that you only have to
    > declare amounts in excess of $10,000 IF the money is in bearer form -
    > that means cash or any other instrument that anyone else other than you
    > can cash. A cashier's check, for example, payable to you in your name
    > but NOT endorsed by you on the back of the check is NOT bearer form.
    > That is the law. I did not know this when I landed, so I made the
    > mistake of asking a lady customs official at the Lewiston-Queenston
    > bridge whether I had to declare my cashiers' checks even if they were
    > not endorsed at the back. I told her that U.S. law did not require me
    > to declare it when I was taking the money out of the U.S. She insisted
    > that Canada law was different and required that I declare all of it. We
    > argued for a while, and in the end, I just filled out the declaration
    > form which was submitted to the agency that looks out for money
    > launderers. I found out later on that she was WRONG WRONG WRONG, but it
    > was too late. Oh well..
    > HOWEVER, Do not bring cashier's checks like I did. The Canadian banks
    > do not trust anybody and they do not trust U.S cashier's checks. They
    > will hold your money for a minimum of 21 days. CIBC, which seems to
    > think that all new immigrants are thieves, holds the money even longer
    > than the other banks. So stay away from CIBC under any and all
    > circumstances. The best way to bring the money is thru Travellers
    > Checks, PAYABLE TO YOU BUT NOT ENDORSED BY YOU. Once you endorse any
    > check, whether it be a bank draft, money order, cashier's check,
    > traveller's check, etc., then it becomes bearer form. Do not endorse
    > the checks under any circumstances UNTIL you have passed Canada customs.
    > Originally posted by nagarjuna28
    > > Hi,
    > > I am planning to move from Chicago to Toronto via rented car.I am a
    > > Canadian Landed immigrant working in USA for last two years and now
    > > moving back to Canada
    > > I have couple of question regarding carrying US doller from USA to
    > > Canada via road
    > > Q1: Is there any limit that I can carry with me.I know at POE I need
    > > to declare to Canadian Custom if I am carrying more than
    > > CDN$10,000 but do I need to give proof of my income or could there
    > > be any other issue?
    > > Q2:At POE do I need to declare to US custom also if I carry more than
    > > US$10000 with me?Do I need to show US custom officials my proof of
    > > income?Do I need to pay any duty?
    > > Q3:What should be the best way to carry doller?Traveller Check or
    > > Cashier Check??
    > > Q4: POE officer phone number at Ambassader Bridge(Detroit & Windsor)
    > > Initially I thought of transfering money via wire transfer from my US
    > > bank account to Canadain Bank account but as I don't have US doller
    > > account in my Canadian bank account I can't keep my money in US doller
    > > in my Canadian bank (I only came to know about this rule couple of
    > > days back).As exchange rate is now pretty low I don't want to convert
    > > USD into CDN$ right now so ruling out wire transfer option
    > Will appreciate your feedback
    > --
    > Posted via http://britishexpats.com