Proof of Funds (Express Entry)

[iamteja]

Hi All,

I applied to Express Entry program based on my previous work experience in India and masters degree in canada. I recently got ITA and I am currently in the process of collecting all the documentation.

However, regarding the proof of funds I have a doubt. I do not have any job yet, hence my father arranged me for the amount required for proof of funds. It was transferred to my account in India which I transferred to travel card , withdrew and deposited in my bank account here.

My doubt now is how am I supposed to explain this whole transactions in the LOE and also I have seen other posts in the forum which say I have to get a gift deed. My question is that should that gift deed be notarized or a letter signed by my father would suffice.

Kindly request you to help with what to do and how to proceed.

Thanks in advance

 

[Cynicalmonk]

Hi All,

I applied to Express Entry program based on my previous work experience in India and masters degree in canada. I recently got ITA and I am currently in the process of collecting all the documentation.

However, regarding the proof of funds I have a doubt. I do not have any job yet, hence my father arranged me for the amount required for proof of funds. It was transferred to my account in India which I transferred to travel card , withdrew and deposited in my bank account here.

My doubt now is how am I supposed to explain this whole transactions in the LOE and also I have seen other posts in the forum which say I have to get a gift deed. My question is that should that gift deed be notarized or a letter signed by my father would suffice.

Kindly request you to help with what to do and how to proceed.

Thanks in advance

Get a FD. Fixed deposit certificate is sufficient. No need to show bank statements unless until cic asks.

 

[iamteja]

Get a FD. Fixed deposit certificate is sufficient. No need to show bank statements unless until cic asks.

Hi Cynicalmonk,

Thanks for the quick reply.
The thing is as I am said I am in Canada so I transferred the amount from my Indian bank account to my travel card, withdrew the cash and deposited in the Canadian bank account I have on my name.
As I have to anyway give the 6 month bank statement in which this amount would be shown, so now should I get an FD from the canadian bank?
Also as this money was given to me by my father should I get the gift deed from my father and should it be notarized or a simple signed letter would be enough.

Thanks in advance

 

[luv2read90]

Hi Cynicalmonk,

Thanks for the quick reply.
The thing is as I am said I am in Canada so I transferred the amount from my Indian bank account to my travel card, withdrew the cash and deposited in the Canadian bank account I have on my name.
As I have to anyway give the 6 month bank statement in which this amount would be shown, so now should I get an FD from the canadian bank?
Also as this money was given to me by my father should I get the gift deed from my father and should it be notarized or a simple signed letter would be enough.

Thanks in advance

A simple signed letter will do (No notarization required) .You should also submit proof of the transfer from your fathers account to your account and your further deposit to your Canadian Account.

Good Luck!

 

[iamteja]

A simple signed letter will do (No notarization required) .You should also submit proof of the transfer from your fathers account to your account and your further deposit to your Canadian Account.

Good Luck!

Hi luv2read90,

Thanks a lot for the clarification. So for the transactions should I show the bank statements of my fathers bank account , my bank account in India, travel card reload statement, travel card withdrawal statement and deposit statement ? or should I just explain it in the letter of explanation.

Thanks in advance

 

[iamteja]

Hi All,

Thanks a lot for the previous responses.
I have gone through posts in the forum regarding credit card statements that have to be provided along with bank statement. I am still confused if I should provide only the credit card linked with my bank account which I am showing for proof of funds or the statements of all the credit cards I have.

Your suggestions would be really helpful.

Thanks in advance.

 

[iamteja]

Hi All,

In addition to my query regarding the gift deed, I have another question. If bot my parents mother and father gave me the money should I mention it in single gift deed document or should it be separate for both.

Your quick response is highly appreciated.

Thanks in advance