# Proof Of Funds and Health Insurance



## GRETZKY427 (Jan 5, 2013)

With a Working Holiday Visa they require $2.5k (canadian) and with the health insurance they require coverage for the duration of your stay.

We plan on going over with $8k-$12k total, how do we show our proof of funds - physical cash on us, how ? especially if we dont plan on opening up a bank account once we get settled.

With health insurance i read they now they require the full coverage of your stay, so 12mth visa = 12mth coverage and 24mth visa = a full 24mths coverage but i can only find insurance for 2x12mth coverage...non with the full 24mth coverage.

We are thinking of just either get 12mths coverage (couples coverage, alot cheaper) and then just take enuff funds to show we can purchase the 2nd half of 12mth coverage or buy 2x12mth coverage and hope they accept this.

Any help for anyone that is in the same situation as us.


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## aaronman (May 4, 2012)

I have seen you ask this question in many other threads and I have also seen other aussies ask the same question.

I too was wondering all this and freaking out until I entered Canada 2 weeks ago to collect my visa at Pearson airport in Toronto.

I had all my documentation ready to present...and guess what? They didn't ask for one thing. Not proof of insurance, nor proof of funds. Nothing. I have a mate who came over here 4 years ago and same thing - didn't ask for anything.

Little bit of research will give you all the answers you need. When you are due to enter, get a bank statement not more than 7 days old from your arrival date in Canada. I just ordered one through BankWest online banking and printed it out. It only needs to show $2500 equivalent available funds per person! This could also be a credit card.

On the health insurance side, here's what you do. Get a one year block from whoever you like (I chose Travel Insurance Direct - $894). Not one travel insurance company will allow you to purchase 2 years - Period!!! So stop wasting time researching this. What you can do is purchase a future block, with Travel Insurance Direct anyway. So these companies have a 7 or 14 day cooling off period. Purchase the second/future 12 month block a few days before you are due to arrive. Print out the policy, then cancel it - with TID you can do this online. They will refund provided the policy hasn't started and the purchase date was within the 7/14 day period.

Why do this? Because it's impossible to know what may happen in the future - why was $1k on a second year policy if you don't know what's going to happen? You might come home after 3 months because you hate it or start bitching about the winters, etc


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## Liam(at)Large (Sep 2, 2012)

aaronman said:


> I
> I had all my documentation ready to present...and guess what? They didn't ask for one thing. Not proof of insurance, nor proof of funds. Nothing. I have a mate who came over here 4 years ago and same thing - didn't ask for anything.


It's at the discretion of the agent at POE. They may ask to see some, all or none of the documentation required. It would be irresponsible to not have everything prepared (unless you are willing to be turned around or only granted a visitor visa).


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## GRETZKY427 (Jan 5, 2013)

aaronman said:


> Little bit of research will give you all the answers you need. When you are due to enter, get a bank statement not more than 7 days old from your arrival date in Canada. I just ordered one through BankWest online banking and printed it out. It only needs to show $2500 equivalent available funds per person! This could also be a credit card.


This is from your bank statement back home but how will you then be transferring your money to a Canadian bank account after?

Im with ANZ and they can not help me with transferring money over, they have branches in the USA but not Canada.

How about if all our funds where on a travel cash card, would they accept this with its printed out statement ? but this will show 1 lump sum though.


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## GRETZKY427 (Jan 5, 2013)

aaronman said:


> On the health insurance side, here's what you do. Get a one year block from whoever you like (I chose Travel Insurance Direct - $894). Not one travel insurance company will allow you to purchase 2 years - Period!!! So stop wasting time researching this. What you can do is purchase a future block, with Travel Insurance Direct anyway. So these companies have a 7 or 14 day cooling off period. Purchase the second/future 12 month block a few days before you are due to arrive. Print out the policy, then cancel it - with TID you can do this online. They will refund provided the policy hasn't started and the purchase date was within the 7/14 day period.


TID can insurance both myself and my wife for $1744 for 12mths which is cheaper then other quotes we have got. Even if we purchase the 2nd 12mth block and before this 2nd 12mth block kicks in later on in the year we cancel 2wks before hand if we are not intending to stay in Canada in our 2nd year due to no work found, or not enough work, etc.


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## Liam(at)Large (Sep 2, 2012)

GRETZKY427 said:


> This is from your bank statement back home but how will you then be transferring your money to a Canadian bank account after?
> 
> Im with ANZ and they can not help me with transferring money over, they have branches in the USA but not Canada.
> 
> How about if all our funds where on a travel cash card, would they accept this with its printed out statement ? but this will show 1 lump sum though.


Bank statement from "home" is fine. This is how most people do it. Most people don't arrive with a Canadian bank account all setup and loaded with funds! (If you did, what would you have to do in your first few weeks!)

Take a look at Forex for transferring your money to Canada... Better rates than the banks anyway.


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## GRETZKY427 (Jan 5, 2013)

Liam(at)Large said:


> Bank statement from "home" is fine. This is how most people do it. Most people don't arrive with a Canadian bank account all setup and loaded with funds! (If you did, what would you have to do in your first few


What would i have to do in my first few week, what do you mean by this? I would be looking for work as soon as we land and actually start applying for jobs before we leave for Toronto.


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## aaronman (May 4, 2012)

GRETZKY427 said:


> What would i have to do in my first few week, what do you mean by this? I would be looking for work as soon as we land and actually start applying for jobs before we leave for Toronto.


Gretzky first week I landed I got the SIN and opened an account with RBC in that order. I couldn't believe how easy this all was and let me assure you will be blown away by the service that RBC gives you compared to aussie banks. I can't recommend them enough.

RE funds transfer here is what I did. Brought in couple of hundred aussie $ that I could change at the airport - crap rate but it pays for the cab and first day or so. I organised an OzForex months before I left (Prepaid Travel Money Card - OzForex Foreign Exchange). This little beauty allows you to load multiple currencies (including CAD) via BPAY from your aussie bank account. The rate is OK, only 3% over spot. Then $2.99 each time you withdraw funds from a canadian atm (any atm). I took out $400 my first day and combined with my credit card, has lasted over 2 weeks. My advice would be to use your credit card and this travel card until you get a job. You can transfer money to your RBC bank account from oz, but the rates are guranteed to be rubbish plus a $30 fee each time. Also check out airbnb.com for accommodation short term. Hotels are expensive here - where I am anyway. Also forget about getting a lease without credit checks, written references, etc. I don't have any of that but plan to offer 6 months rent up front when the time comes.

FYI I am in IT and got a few job offers in the first week - I am in software development. This is in Toronto mind you.


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## GRETZKY427 (Jan 5, 2013)

HSBC have branches in Australia as well as Canada, so the other thing is i suppose i could open up an account here in Australia and be ready to roll as soon as i land in Toronto...bank account already setup prior-go into any branch and start withdrawing straight away.

Im in IT as well as a SOE Engineer/Desktop Support...Toronto is one of the best cities for IT out of Canada overall.

Yes a travel card, travelex do this and so does flight centre, if i got $CAD loaded onto a card then as you said with draw and open up an bank account this way...some different options for the wife and i to think about.


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