Is it safe to carry $10000? [closed]
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I am immigrating to Canada and need to carry $12500 with me. Is it safe to carry such amount in cash with me?. What is the limit for amount of cash we can carry in a single flight? (Government of Canada request single immigrants to bring 12500$ as initial settlement fund)
Best Answer
Is it safe? If your personal security is good (i.e. nobody knows you have it) then it's as safe as carrying any other sum, but you have a lot to lose if you're unlucky and some malicious individual picks you as their target.
However, you will need to declare the money whenever you cross a border. Specifically, on your arrival in Canada you'll need to declare any amount greater than C$10,000 at Canadian customs and fill in a CBSA declaration card (Source). Since these requirements relate to money laundering you'll need a watertight explanation for why you need that much cash and where you got it. Note that this also applies to Traveller's Cheques, banker's drafts and other 'monetary instruments'
There is no limit on the amount you can carry, but the larger the sum, the more likely you will be to have a long conversation with a border guard.
Unless you really, really have no choice, you're much better using a bank to transfer the money.
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Is it safe to carry a lot of cash?
Try dividing up your cash, and leaving some of it in a safe, secure location. If you're with others, consider asking them to carry a little bit of your cash, in case of an emergency. However, any cash that you give to others should be equally well-concealed in order to ensure your collective safety and prevent theft.What happens if you carry more than 10000?
If you bring more than $10,000 USD you have to notify customs and fill out a Report of International Transportation of Currency and Monetary Instruments (FinCEN 105). It's very important to know that this means any form of cash that equals $10,000 USD.How much cash can I keep at home in Canada?
As stated above, there's no such thing as bringing \u201ctoo much cash\u201d to Canada \u2014 the country has no limit on how much cash you can bring in. But if you have C$10,000 or more and you fail to declare it at customs, the Canadian Border Services Agency (CBSA) has the authority to seize all of your cash.How do you carry large amounts of money?
With that in mind, here are 10 tips for carrying money safely and elegantly when you travel.What's in my $10,000 Tech Bag 2022 (ex-Google)
Sources: Stack Exchange - This article follows the attribution requirements of Stack Exchange and is licensed under CC BY-SA 3.0.
Images: Laura James, Tim Douglas, Karolina Grabowska, Karolina Grabowska