There is an option to open a bank account in Canada from India in Nova scotia bank. It also gives u option to apply for Credit Card (which will be hard to get once u land because of no Credit history). I think this is a good option
They will open the account & you can transfer your Rupees into C$ at the current exchange rate. The account becomes operational once you reach Canada & visit their branch. They also give a 1000$ credit card with the account (which can be quite handy).
It's one of the good Banks in Canada, so no worries....
They will open the account & you can transfer your Rupees into C$ at the current exchange rate. The account becomes operational once you reach Canada & visit their branch. They also give a 1000$ credit card with the account (which can be quite handy).
It's one of the good Banks in Canada, so no worries....
@Yukon : I have heard that the banks charge a higher rate than prevalent in the market so if we deposit directly in scotia bank then we might get less money in account due to higher exchange rate... do u know of any way out of this situation that we are able to open the account as well as not suffer losses...
@ Yukon : I have heard that the banks charge a higher rate than prevalent in the market so if we deposit directly in scotia bank then we might get less money in account due to higher exchange rate... do u know of any way out of this situation that we are able to open the account as well as not suffer losses...
Their is no other option to take the money legally out of India. Their are lots of agents who give a good bargain without Invoices, but then that is illegal. It is ok if you want to convert 1000-1500 Dollars worth without bill, but to take 15000 to 20000 Dollars in cash will be very risky. For all other instruments like DD, TC etc. you have to go through bank only.
Banks do not give good exchange rates, but then it a one time conversion loss to bear !!
They have a branch in Hyderabad. I will go personally and visit them tomorrow...
Will update you guys if anything good on this..
ankit_20 said:
There is an option to open a bank account in Canada from India in Nova scotia bank. It also gives u option to apply for Credit Card (which will be hard to get once u land because of no Credit history). I think this is a good option
hi just checked on scotia bank site.
they offer 2 or 3 types of accounts for indian.
but they charge a 4$ fee per month for account maintaining per month with limited transactions.
check out on
http://www.scotiabank.com/cda/content/0,1608,CID12958_LIDen,00.html
have you ppl got any place to stay. I have found following accommodation, please let me know what is your view on the cost of this place. This is a guest house offered by WWICS. Can we find a cheaper accommodation than this.
WWICS guest house in Mississauga:
We can provide one Single Accommodation for you for 30 days from 03 May, 2011 to 01 June, 2011 in one of our shared guest house apartments. Please immediately forward booking agreement papers, soft copy attached herewith. Take three prints of the papers, sign at all the places marked for client and send to us through Delhi-RG branch along with the booking amount bank draft for CAD $ 825.00 (Rent for 30 days $ 550 + Refundable Security $ 275)
If you like to have hotel accommodation following document may help
Just a heads up - the CDN $ is higher right now than it has been for quite some time, trading at almost $1.03 to each US $1.00. It would be hard to imagine it will stay that high or go higher, but I am not an economist. It may be worth waiting to convert your Rs until it drops, if you have that option. Some banks offer FREE chequing, etc. as long as you keep a minimum balance of $1500.00 in the account (Bank of Montreal is one).