I think there is no exact way of demonstrating these funds. But I always think the more evidence you show the better your chances get
Do I need to declare ALL bank accounts for Proof of funds?
- Thread starter sameermaira
- Start date
My husband has the same case. He has personal loan and auto loan in one bank account and the other one is where we have accumulated the funds. Is it okay to declare only one bank account wherein we have our funds or both the accounts?
thanks in advance
thanks in advance
I declared both my loans. I explained in the Letter of Explanation that I'll be selling my car before moving to Canada. I also explained my plan for paying off the personal loan. In my case, the amount wasn't too high. Besides, the payment for those loans were happening from my salary bank account where the funds were. I dint want them to question where was I making these payments. Hence, I declared it voluntarily. It worked for me and I did get my PR this March.
have a bank account in Dubai Islamic Bank UAE. I have a fixed deposit with them,now requested for a fixed deposit certificate, however,they refused and issue me a FD investment e- advice and printed it on a plan sheet of paper with the bank stamp and no signature because UAE bank do no sign on such documents. Can I submit thos same document as my POF .pls I need your advice.
Yes you can do that and also give LOE as you already have the Bank stamped on that paper and why they dont sign it. If possible collect a statement of you bank which shows last 6 months balance you have in your account on a monthly basis along with the average amount. Thag will work
Hello Folks,
Need some urgent help with POF.I received ITA recently.
I have 3 bank accounts.following are thedetails :
1)Citibank Salary account maintaining a balance of 1.80 lakh BUT A fraud dispute on credit card of 49000 Rs.
2)State Bank of India Savings account maintaing a balance of 66000 Rs. + 2 lakh Fixed Deposit (recently opened-not 6 months old).
3) Canara Bank Savings account maintaining 60000 Rs. + 1 Lakh Fixed deposit amount.
Also, I am showing 4.5 lakhs of PF amount by getting a PF certificate.
I need to show 7.5 lakhs in total as POF as per CIC website.
Following are my questions :
1) Do I need to declare all my bank accounts.
1.1) If yes, that would be a hectic task during this covid since I am away from the City where I have my Salaried account.
1.2) If I declare my salaried account,that would display the 49000 fraud dispute which is in "inprogress" status. Although I can pay it in full,but that would be a waste of 49000 since It's a fraud transaction done and bank is still looking into it.
2)If answer to 1 is No , Is it fine If I just showcase money in savings bank accounts(SBI and Canara) plus 4.5 lakhs of PF amount.
I can even add more/full amount to these two accounts and get a Deed affidavit letter from parents (if that works)..
Need to Submit the application asap.
Genuine Replies would be appreciated .
Thanks in advance.
Need some urgent help with POF.I received ITA recently.
I have 3 bank accounts.following are thedetails :
1)Citibank Salary account maintaining a balance of 1.80 lakh BUT A fraud dispute on credit card of 49000 Rs.
2)State Bank of India Savings account maintaing a balance of 66000 Rs. + 2 lakh Fixed Deposit (recently opened-not 6 months old).
3) Canara Bank Savings account maintaining 60000 Rs. + 1 Lakh Fixed deposit amount.
Also, I am showing 4.5 lakhs of PF amount by getting a PF certificate.
I need to show 7.5 lakhs in total as POF as per CIC website.
Following are my questions :
1) Do I need to declare all my bank accounts.
1.1) If yes, that would be a hectic task during this covid since I am away from the City where I have my Salaried account.
1.2) If I declare my salaried account,that would display the 49000 fraud dispute which is in "inprogress" status. Although I can pay it in full,but that would be a waste of 49000 since It's a fraud transaction done and bank is still looking into it.
2)If answer to 1 is No , Is it fine If I just showcase money in savings bank accounts(SBI and Canara) plus 4.5 lakhs of PF amount.
I can even add more/full amount to these two accounts and get a Deed affidavit letter from parents (if that works)..
Need to Submit the application asap.
Genuine Replies would be appreciated .
Thanks in advance.
I cannot specifically tell you what you should do but I will tell you what worked for me. Me and my wife had a total of 5 bank accounts. We transferred all the money to one of my bank accounts (not salary account) and then got 6 months statement along with a letter from the bank that said what was the approximate CAD value and "The money is free for use by the customer" from the bank.(HDFC)
I was maintaining most my balance in HDFC already and the additional amount was transferred from my wife's account. We added a letter stating the date of the transfer and that the money was intended for our settlement in Canada to our application POF documents.
CONGRATULATIONS!! You are one step closer 
Here is what I did in 2018. It's been a while but may still be relevant.
1. I had savings and salaried accounts with ICICI and a couple of fixed deposits. I moved money around and created more fixed deposits. Then, I got a letter from ICICI summarizing the balances and fixed deposit accounts (attached below)
2. I had some money in a US account so I downloaded a single page summary from their site and submitted it
3. I also had an old SBI account, but I did not show that (because I was showing enough funds with the other documents)
4. I had a home loan running in the same ICICI bank account, but I did not think it was necessary to mention that in the letter.
5. I submitted LIC surrender value quotation for my policies.
6. I did not submit any bank statements
Letter from ICICI - https://drive.google.com/file/d/1E0ikfNZKnyWyccmGnReKz7Z1kamCsc71/view?usp=sharing
My recommendation would be to try and get a letter similar to the above from your salaried account. I know you are not in the city but maybe you can call them and ask them to mail you the letter or give a scan copy over email. I felt it helped that I gave them a draft of the letter format in word document so they didn't have to prepare it. Also, they don't need to mention that there is a fraudulent transaction.
I understand times are tough but POF is a critical aspect of your application so if i was in your place, I would try my best to get the letters in appropriate format from the banks.
Here is what I did in 2018. It's been a while but may still be relevant.
1. I had savings and salaried accounts with ICICI and a couple of fixed deposits. I moved money around and created more fixed deposits. Then, I got a letter from ICICI summarizing the balances and fixed deposit accounts (attached below)
2. I had some money in a US account so I downloaded a single page summary from their site and submitted it
3. I also had an old SBI account, but I did not show that (because I was showing enough funds with the other documents)
4. I had a home loan running in the same ICICI bank account, but I did not think it was necessary to mention that in the letter.
5. I submitted LIC surrender value quotation for my policies.
6. I did not submit any bank statements
Letter from ICICI - https://drive.google.com/file/d/1E0ikfNZKnyWyccmGnReKz7Z1kamCsc71/view?usp=sharing
My recommendation would be to try and get a letter similar to the above from your salaried account. I know you are not in the city but maybe you can call them and ask them to mail you the letter or give a scan copy over email. I felt it helped that I gave them a draft of the letter format in word document so they didn't have to prepare it. Also, they don't need to mention that there is a fraudulent transaction.
I understand times are tough but POF is a critical aspect of your application so if i was in your place, I would try my best to get the letters in appropriate format from the banks.
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@Mr_Chang @sameermaira I appreciate. Thanks for the quick Responses.
If I get 4.5 lakh PF certificate and for the rest , I transfer money in one of my savings bank account (SBI or Canara Bank) and and get an gift affidavit from my parents. Would that work? (I understand it's better to get a letter from Citi Bank SALARIED account too but the covid time has made the process hectic and I am in no mood to delay the process since I have uploaded all the other documents except POF)
@sameermaira Thanks for the format of the letter.
Would you advise me getting the same letter from savings bank accounts (obviously after transferring the required money in account).
P.S. I am mentioning savings account again n again since it's in my hometown city only .
Again a big thanks fir the response.
If I get 4.5 lakh PF certificate and for the rest , I transfer money in one of my savings bank account (SBI or Canara Bank) and and get an gift affidavit from my parents. Would that work? (I understand it's better to get a letter from Citi Bank SALARIED account too but the covid time has made the process hectic and I am in no mood to delay the process since I have uploaded all the other documents except POF)
@sameermaira Thanks for the format of the letter.
Would you advise me getting the same letter from savings bank accounts (obviously after transferring the required money in account).
P.S. I am mentioning savings account again n again since it's in my hometown city only .
Again a big thanks fir the response.
I honestly don't know if a gift affidavit woks so I can't comment on it.
Please refer to the section that says "What we accept as proof" on this link - https://www.canada.ca/en/immigration-refugees-citizenship/services/immigrate-canada/express-entry/documents/proof-funds.html. It clearly states that money that is borrowed will not work and that they need a bank letter on letterhead from institutions. I don't know if "gift" falls under this category or not.
Yes I would advise that you get a letter from the bank institutions as stated in the link above. I went purely by this. I have heard and read that some people have given bank statements but I just don't know if they are accepted.
Maybe you should call IRCC Canada and clarify.
Please refer to the section that says "What we accept as proof" on this link - https://www.canada.ca/en/immigration-refugees-citizenship/services/immigrate-canada/express-entry/documents/proof-funds.html. It clearly states that money that is borrowed will not work and that they need a bank letter on letterhead from institutions. I don't know if "gift" falls under this category or not.
Yes I would advise that you get a letter from the bank institutions as stated in the link above. I went purely by this. I have heard and read that some people have given bank statements but I just don't know if they are accepted.
Maybe you should call IRCC Canada and clarify.
Hi, I did not disclose my salary account to IRCC. They are asking for my salary account's bank statement to verify if my employer paid me. Now from that salary account, I send EMI of my home loan and credit card debt which I also did not disclose earlier. Now what should I do? Should I disclose the bank statement and provide a letter of explanation?
Sorry to bring this up again. What did you end up doing? Did you declare all your accounts?
And what is your current stage at this moment?
And what is your current stage at this moment?
Hi, I declared my salary bank A/C statements. I also provided an LoE explaining everything. And I got the PR at last.
Pls I need help, I applied for study permit but got refused due to funds, I understand because the fluctuation of naira was terrible when I applied, I want to change my funds to dollars due to the fluctuation rate, of I am considered for reconsideration and they ask for my updated bank acct, can I show them my dorm acct, note I didn't use the dorm acct as proof of funds initially