Hi, I am receiving gift deed from my mom. But it is impossible for her to send the full amount from Nigeria due to financial restrictions in the country directly to my account here in Canada. So the money is sent to a friend's account in UK and then sent in installment to my account here in Canada. How should the gift deed by formatted. Does she have to only state that she is the primary donor? Thanks.
Gift deed multiple transactions
- Thread starter daygamer
- Start date
Gift deed should state the total amount and name of donor, but then I would explain in your cover letter why it appears as multiple transactions from a third party like you mentioned.
If I transferred all the money from my current (which as all the multiple transactions from third party) account to my savings account, I don't need to explain why there are multiple transactions from a third party as it will not appears in the saving bank statement, I only need to show the gift deed as an explanation of the funds in my savings.
You'll still have to provide the 6 month bank balances for your current account, as long as the multiple transactions are not large enough to make a big difference, it should be okay.