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Moving your proof-of-funds money from India to Canada: DD, forex firms, and bank realities

Canada • Permanent Resident • immigration 0 views
By VisaBuddies Communityvia community — compiled from public visa forums

Documents Needed

  • Demand draft (DD) in CAD

    A common way to carry POF funds at landing — no Canadian bank account needed in advance; open one after arrival and deposit it.

Step-by-Step

A new PR with proof-of-funds money sitting in an Indian bank asked how people actually move it to Canada — NRO/NRE accounts, wire transfer, or something else. The thread (2022, historical exchange practices; verify current rules) surfaced several practical experiences:

  1. Demand draft via a forex house worked smoothly. One member obtained a CAD demand draft from a large travel-forex firm, noting the process was seamless because the firm had banking ties in North America — a route several group members had recommended.

  2. Bank branches are inconsistent about DDs. Another member was flatly told by their bank branch that it doesn't issue such DDs — until pointing out that a different branch of the same bank was issuing them. Lesson: if a branch refuses, ask the NRI/main branch or another branch before giving up.

  3. You don't need a Canadian account before landing for the DD route. Directly answered in the thread: carry the DD, open an account after you arrive, and deposit it there. Newcomers can shop around between banks on arrival.

  4. App-based transfers (e.g., Wise) were raised as a post-landing option, though no one in the thread reported completed experience with it.


Practical takeaway: the battle is less about choosing wire-vs-DD and more about branch-level execution. Confirm with the specific branch (or a reputable forex firm) that they'll actually issue a CAD instrument, and don't let one branch's refusal be your final answer.

Dos, Don'ts & Tips

  • Do: If a bank branch refuses to issue a CAD demand draft, try the bank's NRI/main branch or another branch — policies differ branch to branch.
  • Tip: You can carry a CAD demand draft without a pre-opened Canadian account; open an account after landing and deposit it.
  • Tip: Large forex/travel firms with North American banking ties are a commonly recommended, low-friction DD source.

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