Checklist 3: Transferring finances
One of the first things you should consider when packing up to come to Canada is how to transfer your cash and your other investments. Here are 6 options to consider.
1. Talk to your banker in your country of origin for advice.
2. Transfer some cash into Canadian funds for immediate needs after landing.
3. Put some money into travellers’ cheques for security and immediate access to your funds.
4. Bring your international credit cards for immediate out-of-pocket expenses and for identification purposes, too.
5. You can get an international wire transfer using the SWIFT (Society for Worldwide Interbank Financial Telecommunication) system. It operates a worldwide network that can transfer funds between different financial institutions. Allow a week to 10 days for international banking transfers.
6. Once you’re in Canada, open a bank account at a bank or credit union in your city. To do this, you’ll have to show your landed immigrant papers and identification.
Read next checklist: Bringing Jewelry and Valuables
See all the checklist in this series
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