Key takeaways
- You must report CAD 10,000 or more in total, in any mix of currencies and monetary instruments
- Bank drafts, cheques, travellers’ cheques, money orders, stocks and bonds count
- Enter foreign money with the Bank of Canada rate for the day you travel
- If your family together is near the limit, tell the officer about the full amount
The rule this helper checks
When you enter or leave Canada, you must report to the Canada Border Services Agency (CBSA) if you carry currency or monetary instruments worth CAD 10,000 or more in total. It is not a limit on what you can bring. It is a reporting rule. If you do not report, CBSA can seize the money and charge a penalty of 5% (up to CAD 2,500) to 50% of the amount.
Full details, including the forms and the review process, are in how to declare money at the Canadian border.
How the helper counts your money
- Canadian cash counts at face value.
- Foreign cash is divided by the rate you enter (units per 1 Canadian dollar). CBSA uses the Bank of Canada rate in effect when you cross, so use that rate for your travel day. You can find it on the Bank of Canada daily exchange rates page.
- Monetary instruments count at their value in Canadian dollars. Enter bank drafts, cheques, travellers’ cheques, money orders, and stocks or bonds you can hand over. Instruments with a restrictive endorsement such as “for deposit only”, or a clearing stamp, do not count.
- The helper adds everything and compares your total with CAD 10,000.
If you add the amount others in your group carry, the helper also shows the group total. The rules do not clearly say how families combine amounts, so if the group reaches CAD 10,000, the helper tells you to mention the full amount to the officer.
Worked example
Priya is moving from India. She carries CAD 2,000 in cash, ₹300,000 in rupee notes and a bank draft for CAD 8,000.
- Rupees in Canadian dollars: 300,000 ÷ 67.7 = about CAD 4,431
- Total: 2,000 + 4,431 + 8,000 = CAD 14,431
Her total is over CAD 10,000, so she must declare it when she lands. Without the bank draft, her total would be about CAD 6,431 and she would not need to report.
Also check your home country’s rules on carrying cash out. India, for example, has its own limits on how many rupee notes a traveller can take out of the country. See bringing money from India.
What to do next
- If you must declare: answer “yes” to the currency question at the kiosk or on your Advance Declaration, then fill in the CBSA form for individuals with the officer. Keep proof of where the money came from in your hand luggage.
- If you are close to the limit: declare anyway. There is no penalty for declaring.
- If you carry a lot of cash: think about sending most of it by wire or transfer service instead. It is safer and often cheaper. Compare options in the best way to bring money to Canada.
Planning your whole move? Start with how to bring money to Canada and the landing checklist.