Proof of Funds (Express Entry)

[DelPiero07]

Hullo friends! I've received the express entry ITA on 2nd of August.

I have a very specific query about getting the proof of funds part of the eAPR application correct.

In a nutshell, my wife is the primary applicant and her father submitted the equivalent of CAD 15k to her account just one day before the ITA. We've got the gift deed prepared and also ready to show the agreement of sale of her father's house through which he got the money. But my fear is that this might not be sufficient as we've not held that money for six months. I'm also ready to show another CAD 15K in my account (I'm accompanying spouse) that my mother transferred to me about 2.5 months back for which also I have the gift deed.

I don't want to go wrong with the POF and screw up my application. We have 479 CRS points.


Thanks and regards,

Gaurav

You do not have to have the money for 6 months in your account. As long as you execute the gift deeds properly you'll be fine.

 

[Rk Gunner]

Have you considered making a fixed deposit? In that case, the amount of time a bank can hold the amount varies with each banks, so go with the bank where you have maintain the amount not more than 6 months.
On the other hand, even if your parents send you the money, bank statements will show a bulk transaction since the transaction happened within six month which you need to be explain in your LOE. Gift deed is acceptable within your family circle (Mom,dad,sis,bro) anything other than that would cause confusion.

I found this for you through google, believe it would be of help

• Go to the nearest NBL or any other bank remitting agent (agent also include the branch of the bank), (make sure that bank recognized by Nepal Rastriya Bank), you can also choose SBI etc..
• Ask for 'Send Request Form'
• Fill the personal information and the beneficiary information as requested.
• Fill the amount for remittance.
• If cash transfer you are provided the secrete key else not.
• Convey the secrete key to the beneficiary securely and guide him/her to receive the remitted amount from specific branch/agent of NBl remit product.

Thank you Sundar17feb99 for your response and for your research you did on the topic.

I have not considered making fixed deposit because I need money from them first.

And secondly, my parents have been to several banks but all of them said that they won't be able to transfer me the money(which I found obviously weird). And if I happen to get the money transferred somehow, I was planning to get a gift deed from my parents and writing a LOE to Canadian immigration.
But since, it seems quite difficult to get the funds transferred, my only viable option would be to prepare two gift deeds. As you said its not recommended to do so.

Honestly, I dont know what to do next.

 

[Rk Gunner]

Hey Guys,

Can I show the bank information under my name back in Nepal as POF? I know its not same as having funds in my US bank but still I can access it right.

Is it a possibility?

Thank you again. You guys have been awesome.

 

[Nc31]

Hi guys I have an outstanding loan with my bank that they deduct monthly from my salary.
I took the loan last year for an investment, though I have enough money to show as proof of fund but am worried if that will affect my application.
The loan is a bit more than what I have in my accoun currently.
Will that affect my application?
TIA

 

[Tara]

Hi,

Anyone taken a letter signed and stamped from State Bank India regarding their accounts there? We were told that they dont sign and stamp anymore, and everything will be system generated. This is what we submitted with application. Just wanted to check if someone else has done the same and whether it's been accepted.

 

[DelPiero07]

Hey Guys,

Can I show the bank information under my name back in Nepal as POF? I know its not same as having funds in my US bank but still I can access it right.

Is it a possibility?

Thank you again. You guys have been awesome.

Of course.

 

[Mjkab]

Of course.

Hi DelPiero07,

my pgwp expiring on 15 Aug.
I applied for CAQ but still waiting for that. in the mean time can I extend my permit as a visitor. then I will apply again for study permit.

 

[DelPiero07]

Hi DelPiero07,

my pgwp expiring on 15 Aug.
I applied for CAQ but still waiting for that. in the mean time can I extend my permit as a visitor. then I will apply again for study permit.

You can apply for a visitor permit, but really do your research when going from visitor to study permit.

Didn't you submit your eAPR already? Why don't you apply for a BOWP?

 

[Mjkab]

You can apply for a visitor permit, but really do your research when going from visitor to study permit.

Didn't you submit your eAPR already? Why don't you apply for a BOWP?

I did not receive my CSQ yet. without CSQ I cannot apply for BOWP.

 

[Rk Gunner]

Of course.

Thanks DelPiero.

And the fact that all the funds will be in that particular account in Nepal,not here with me,wont be an issue either right?

Sorry, just trying to be 100% sure because those funds wont be instantly accessible. I hope its something CIC wont scrutinize it.

 

[DelPiero07]

Thanks DelPiero.

And the fact that all the funds will be in that particular account in Nepal,not here with me,wont be an issue either right?

Sorry, just trying to be 100% sure because those funds wont be instantly accessible. I hope its something CIC wont scrutinize it.

No, just execute the gift deed properly and you'll be fine. I've seen people use bank accounts from up to 3 different countries to meet the required funds.

 

[Rk Gunner]

No, just execute the gift deed properly and you'll be fine. I've seen people use bank accounts from up to 3 different countries to meet the required funds.

Hmm... Will do..

Thank you DelPiero007. Means a lot.

 

[DinaAE]

Hi Everyone,
Which bank should the funds be in? I mean does it have to have office in Canada, or just major Russian bank will be enough? And another question: do I need to have the money in Canadian dollars or USD will work (my bank doesn't have accounts in CAD, but I am banking with them for almost 10 years, should I change the bank?).

 

[DelPiero07]

Hi Everyone,
Which bank should the funds be in? I mean does it have to have office in Canada, or just major Russian bank will be enough? And another question: do I need to have the money in Canadian dollars or USD will work (my bank doesn't have accounts in CAD, but I am banking with them for almost 10 years, should I change the bank?).

Any bank, any currency.

 

[issac1990]

HI EVERYONE... JUST ONE DOUBT.. I HAVE 680GMS OF GOLD IN MY BANK ACCOUNT. EACH GRAM IS OF 51CAD AS PER TODAYS MARKET. AND THE TOTAL AMOUNT CAN BE 34,800 CAD. cAN I SHOW THIS AS PROOF OF FUND?