Proof of Funds (Express Entry)

[sundar17feb99]

Hey Guys,

Can I open an online bank account today back in Nepal and ask my parents to transfer money on that account and use it to show POF?

As per the posts I have read here, I believe bank account does not necessarily have to be 6 months old. Is that right? And I am also planning to show the statements of my current bank account although it does not have enough funds.

Please some insights is appreciated.

Thank you

Can I open an online bank account today back in Nepal and ask my parents to transfer money on that account and use it to show POF?

That's a viable option, open online account, ask your parents to deposit money in your account and show that as a proof along with a standard LOE.

As per the posts I have read here, I believe bank account does not necessarily have to be 6 months old. Is that right? And I am also planning to show the statements of my current bank account although it does not have enough funds.

6 month bank statement is required for proving your settlement funds , else, garner a bank balance certificate with a format mentioned in CIC website.

Please some insights is appreciated.

 

[sundar17feb99]

Thanks a lot my dear friend.....actually I am planning to apply for the next intake of sinp expressentry.(may be in the next month)... So, is it necessary that FD should be 3 months old.....

As far as CIC is concerned, the amount should be liquefied at any given time and the amount cannot be based on loans.
That's the pre-requisite to show your settlement finds.
The history of the FD is not a concern.

 

[Rayyy]

I've asked my bank to provide me a letter stating the amount of money i have and the average of 6 months, just like what the system asks.

Unfortunately, TD BANK can only issue standardized letters. Where it won't state how much money I have, instead will check mark, for example, medium 6 figures. And the date of opening the account, it checks mark over 3 years.

For those who know what I'm talking about, is this standardized letter suitable for "proof of funds"? If not, what can be done?

Thanks in advance,
Rayyyyyyy

 

[DelPiero07]

I've asked my bank to provide me a letter stating the amount of money i have and the average of 6 months, just like what the system asks.

Unfortunately, TD BANK can only issue standardized letters. Where it won't state how much money I have, instead will check mark, for example, medium 6 figures. And the date of opening the account, it checks mark over 3 years.

For those who know what I'm talking about, is this standardized letter suitable for "proof of funds"? If not, what can be done?

Thanks in advance,
Rayyyyyyy

Provide such letter and bank statements of the past 6 months and you're good to go.

 

[Babu2002]

Th

As far as CIC is concerned, the amount should be liquefied at any given time and the amount cannot be based on loans.
That's the pre-requisite to show your settlement finds.
The history of the FD is not a concern.[/QUOTE
Many many thanks again....but left with a small doubt.... the FD which I already have in my name.....does contain a bank statement at the time of its reopening.... Any problem.....that way???.....thanks in advance....

 

[Babu2002]

As far as CIC is concerned, the amount should be liquefied at any given time and the amount cannot be based on loans.
That's the pre-requisite to show your settlement finds.
The history of the FD is not a concern.

Many ....many thanks ....but left with one doubt ....the FD which I already have in my name....does have a bank statement also...which shows the date of its opening 3 months before....so again one more FD......will it create any question from the authorities . ..as to its source?

 

[sundar17feb99]

Many ....many thanks ....but left with one doubt ....the FD which I already have in my name....does have a bank statement also...which shows the date of its opening 3 months before....so again one more FD......will it create any question from the authorities . ..as to its source?

If you find yourself in the confusion then it is safe to have a LOE, explaining your source of funds.
It's a way to clarify the visa officer for any confusion which may arise from your profile.

 

[Babu2002]

Sorry to bother you ....again & again....I am planning to sell the car brought in my wife's name & meet the other half of ...proof of funds.....if I deposit that amount in her account as FD .....will that be sufficient to show as pof....or will I need a separate gift deed from my wife .....my wife will be accompanying me

 

[sundar17feb99]

Sorry to bother you ....again & again....I am planning to sell the car brought in my wife's name & meet the other half of ...proof of funds.....if I deposit that amount in her account as FD .....will that be sufficient to show as pof....or will I need a separate gift deed from my wife .....my wife will be accompanying me

that's not a problem. My suggestion would be not to deposit that amount in FD.
I instead will deposit the amount in my account and mentioned the reason for the surge in the balance amount in LOE.
In order to substantiate my claim, I will furnish the bill to the Visa officer which states that the transaction detail reflects in the sale bill.

 

[sorelconsty]

that's not a problem. My suggestion would be not to deposit that amount in FD.
I instead will deposit the amount in my account and mentioned the reason for the surge in the balance amount in LOE.
In order to substantiate my claim, I will furnish the bill to the Visa officer which states that the transaction detail reflects in the sale bill.

What means FD please

 

[Babu2002]

that's not a problem. My suggestion would be not to deposit that amount in FD.
I instead will deposit the amount in my account and mentioned the reason for the surge in the balance amount in LOE.
In order to substantiate my claim, I will furnish the bill to the Visa officer which states that the transaction detail reflects in the sale bill.

Thanks.... Friend.... that was a better option, even I feel....it will work better...one..small doubts (u must be thinking...I am Mr.doubt...)....If I put the car sold amount as FD in my name...

Q1.Will I have to meet the criteria of FD being at least 3 months old?
Q2.If I present as FD in my account...should I need to prove its source...ie even for FD should we need to show... Car sale deed?

Thanks in advance....God bless....

 

[Babu2002]

FD means fixed deposit

 

[andyding13]

Hi All,

Can I use funds from my accompanying spouse's account as PoF (not joint account)? What affidavit would need to provide? Anyone has a template?

Thanks!

 

[DelPiero07]

Hi All,

Can I use funds from my accompanying spouse's account as PoF (not joint account)? What affidavit would need to provide? Anyone has a template?

Thanks!

No affidavit needed. Yes, you can use those funds.

 

[andyding13]

No affidavit needed. Yes, you can use those funds.

Thanks! Do I need to mention this in LOE? Or not at all?