Hello again guys,

As I've mentioned before, I'll be coming to Toronto in a week or so on a W1 Work Visa. I need to bring about 3000 CAD with me for my initial expenses. Can you suggest the best way to bring that money?

Do you think Traveller's checks are a good idea? How long does it take to issue Traveller's checks? I only have 4-5 days - so I want a method which is fast.

And at the Canada-end I also need to be able to reconvert it back to usable money so I can start a bank account - unless of course, banks accept Traveller's checks.

Oh, btw I assume it won't take more than 2-3 days to start a new bank account. Please correct me if this assumption is incorrect.

Thanks in advance.

hi

get it in Cash

Hi Fonzie,

<I need to bring about 3000 CAD with me for my initial expenses. Can you suggest the best way to bring that money?>

Normally a mix of cash and travellers cheque seems to be best option.
Cash for ready use.
Traveller's cheques for safety.

<Do you think Traveller's checks are a good idea? How long does it take to issue Traveller's checks? I only have 4-5 days - so I want a method which is fast.>

In metros travellers cheques get issued in 15 minutes or so, over the counter. I do not know about your exact location. Best to enquire from your foreign exhange dealing branch of bank/Thomas Cook/American Express.

<And at the Canada-end I also need to be able to reconvert it back to usable money so I can start a bank account - unless of course, banks accept Traveller's checks.>

Banks normally accept travellers cheques.

<Oh, btw I assume it won't take more than 2-3 days to start a new bank account. Please correct me if this assumption is incorrect.>

It should routinely take only 30 minutes to open a bank account in Canada if you have your passport and address.

Best of luck.

Thanks a lot for your detailed reply :-)
I'll contact a Thomas Cook outlet today.

As explained by LD, TCs are your best options with some cash. You can encash TCs in any bank. But make sure to cash it in the bank where you open the account as they will not charge you any fees for encashing the TCs. Before you agree to open an account at any bank, confirm with the banker abt these charges.

If you need any help, let me know.

All the best.

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