Proof of funds requirements - Explained

[Abrockks]

Hi All

I have given my Fixed deposit copy along with letter from bank as proof of funds. However, the effective date on the FD receipt is as recent as April 2017 and I submitted my application on 17th May. Will it pose any problem as the proof of funds is not 6 months old?

 

[Abrockks]

Hi all,
Regarding proof of funds:-
1) i made some fds 10 days back from my ita and for those fds my mother transferred my money to my account
2)This account from which my mother sent me money is joint account of my grandmother and mother .
3) is there any issue in showing this as my funds as money is from joint account

I am in the same situation. My FD is just a month old. What did you do about the issue?

 

[Mohammad Wally]

Hi Experts,

I am applying for PR through express entry as a FSW applicant. Currently I am in my home country and also hold a PGWP for 3 years. To show my Proof of funds, can I use my Canadian Bank accounts statement or I have to show money in my home country's bank account?

 

[dyez]

Hi seniors!

I am feeling anxious because two of my primary bank accounts in my POF are joint "OR" (not "AND") accounts under my name and my unaccompanying common-law partner's name. And, as far as the posts I have read in this forum are concerned, the following are consistently mentioned:

Acceptable: bank accounts in your name or the name of your accompanying spouse/common-law partner
Not acceptable: bank accounts in the name of your spouse who is not accompanying you to Canada

Am I in trouble, as I have already submitted my eAPR? Or will CIC consider that for my POF?

I read in another thread (http://www.canadavisa.com/canada-immigration-discussion-board/threads/proof-of-funds-joint-account-with-non-accompanying-spouse.464140/) that "Yes, you can show it as POF. You need to get a declaration from your spouse stating that she has no objection in using this money for Canada immigration." However, again, I have already submitted all requirements online and have received my eAPR/AOR. Is there a way for me to provide an additional such declaration from my unaccompanying common-law partner, just to make sure?

I hope you can give light to my dilemma.

Thank you!

 

[Shivi Sharma]

Hi Folks. I got required score in IELTs last month and I created Express entry profile on in May end and I got ITA.
My father transferred money to my account in May itself.
My doubt is that I have 90 days to submit application. Would the funds be considered? Or I need a gift deed or FD?

 

[mht.dsm]

I created my Fixed deposit on 29th May ....I am just planning to submit bankers FD letter and Fd bank letter head certificate.

i took the money as a gift deed.. should gift deed be attached or not ??

 

[Scorpman21]

Would the funds be considered? Or I need a gift deed or FD?

Though I am no expert on this. But afaik, you need a Gift Deed.

 

[Scorpman21]

should gift deed be attached or not ??

It should be attached.

 

[DSpartners]

Hi All, i am from india and have got an ITA and all the documents are ready but little worried about showing the proof of funds. your help in this would be much appreciated and i am in urgency of immediate help in below query

is it ok if i get the money credited into my account and get the gift deed done by my friend (family & relatives are out of question here) along with the letter of explanation LOE stating that "this gift is irrevocable and I have no claim left whatsoever on the said gifted amount and he is free to utilise it in any manner." ??

also is FD an option? can i open an FD using this amount now and take a certificate from bank?

 

[mrinmoy]

Might be a silly question but how recent does the letter from the bank needs to be.

The reason why I am asking this question is that I received my ITA on 12 April 2017. I got the letter from the bank on 18 April but due to some unavoidable circumstances I was unable to obtain the other documents until recently. And now when I tried receiving a more updated letter the bank is refusing to provide me the letter stating that they changed their policy recently.

Can I use the letter that I received on 18 April 2017?

 

[harshani]

I’m a PhD student living in Canada and I have experience back in my country so that helped me to get into the express entry pool. I’m also receiving a scholarship that is more than enough for our day to day life. However when I try to apply for express entry I have to show the funds available for my stay. So I’m wondering whether I can include the scholarship letters as the proof of funds. Thank you.

 

[scylla]

No - the scholarship letter cannot be included as proof of funds. The proof of funds has to be money that you have available in your bank account.

 

[rahimpal]

can we show share stocks as POF ? is it accepted by cic?

 

[dyez]

can we show share stocks as POF ? is it accepted by cic?

As per CIC guidelines on POF, your POF can include "documents that show property or capital payable to you (such as stocks, bonds, debentures, treasury bills, etc.)".

 

[kunalthakker]

Thank you Shibuya for the information.

Chatfriend,

You have indicated in your post that you have shown stocks as POF and it was considered.

On the same note : could you confirm, if life insurance premiums are also considred as POF



shreya99
Thank you for sharig the info you received from the CHC.

-Matlal

The surrender value of LIC and Mutual funds is considered. My friend just did it before few days. You'll need to get the certificate letter with surrender value from your respective insurance or mutual fund agency.