My question is regarding Proof of Funds ( POF). In our case it is 13801 CAD ( for two persons). Should I carry all this money in the form of demand draft or I can make demand draft of say 10000 dollars and remaining can have in the form of currency notes ( hard cash). Please guide urgently.
Yes you can take demand draft and cash its fine as long as you take all the required funds with you. Normally 80% draft and 20% cash is good but you can take more cash with you its perfectly fine.
Cash and Demand draft are good to bring as POF.
if you dont need more cash after landing or you have support someone will help you for your initial stay then bring 20%/30% cash and 80%/70% money by Demand draft --> open account in bank and deposit your demand draft/s, demand draft clearance will take 3working days maximum to get use of full amount.
Travellers checks are also good but commission on TC and TC will encash on the daily rate(means you will get rate when you purchased and sale will be different).
Cash and Demand draft are good to bring as POF.
if you dont need more cash after landing or you have support someone will help you for your initial stay then bring 20%/30% cash and 80%/70% money by Demand draft --> open account in bank and deposit your demand draft/s, demand draft clearance will take 3working days maximum to get use of full amount.
Travellers checks are also good but commission on TC and TC will encash on the daily rate(means you will get rate when you purchased and sale will be different).
OMM
what is the difference between demand draft and travellers checks? Should I open account before landing?
for demand draft yes you need bank account, its like cheque, you can open bank account next day after landing in Canada.
TC you can encash with any bank without opening account, or TC you can encash at post office/airport too.
for canadian bank account from outside Canada we already discussed lots here in this forum. Search using Scotia bank you will get some good and valuable result.
