Proof of Funds (Express Entry)

[Canadian_Iam]

A letter from your spouse stating that she is a part of the EE application and is accompanying you and has no issue towards utilizing this fund for POF will benefit though may not be compulsory

Thanks, mate

 

[abcvita2012]

How recent the proof of funds should be? Can I get it before ITA? or should I wait after ITA?

 

[sundar17feb99]

How recent the proof of funds should be? Can I get it before ITA? or should I wait after ITA?

The documents pertaining to "proof of funds" can be collected very easily. CIC would require the most recent bank statements and certificates.
I interpret from their suggestions that , garnering documents after ITA would suffice.

 

[Umidjon90]

Hi all,
Do I have to include information about when the bank account was opened and whether I have debt or not? It appears my bank has a specific template for certificates which does not include the above mentioned info.
Appreciate your opinion and answer.
Thank you!

 

[sundar17feb99]

Hi all,
Do I have to include information about when the bank account was opened and whether I have debt or not? It appears my bank has a specific template for certificates which does not include the above mentioned info.
Appreciate your opinion and answer.
Thank you!

Request manager to include, date of opening the account in the certificate. Hope they will comply to your request.

 

[Wandering Mind]

Thanks dear. Yes, my spouse will accompany me and I've put a note in LoE that we both contribute to this joint account & source is savings from our salary. I'll also attach our individual bank statement to support the transfers or for cross-matching.

Do I still need to provide any authorization letter from my spouse?

Great! I don't think you need an authorisation letter if you're including all the documents you mentioned.

Good luck to you and your wife.

 

[abcvita2012]

@Asivad Anac
My bank is refusing to provide any customised letters. They are willing to give letters in standard format only as following:

- Letter with name,account number, date of opening, & current balance.
- Car loan statement
- Credit card statement
- 6 months bank statement

So is this combination sufficient?

As for their address, they are not willing to provide anything other than the info written on their letters (which might not include an email address) is that fine?

 

[sundar17feb99]

@Asivad Anac
My bank is refusing to provide any customised letters. They are willing to give letters in standard format only as following:

- Letter with name,account number, date of opening, & current balance.
- Car loan statement
- Credit card statement
- 6 months bank statement

So is this combination sufficient?

As for their address, they are not willing to provide anything other than the info written on their letters (which might not include an email address) is that fine?

I believe asivad anac isn't active anymore in this forum.

As an answer, yes that would be fine.
Your certificate will be inscribed in the company sealed letter head which is enough to prove it's authenticity.
Furthermore, If they etch a seal in your certificate, it would carry bank's branch name and address as a default.

 

[Tusharthakkar]

Funds should be either in your name or your accompanying spouse only. Liquid are always welcome and FD's are also accepted. If most of the funds are in your spouse name, take a letter from her stating that she is part of the EE application and will accompany you to canada and she has no p[problem what so ever utilizing these funds for immigration

Can I make an affidavit for d same or it has to be on bank letter?

Some FD's which r big and those r in d name of my wife and her father ,, is there a way I can use this ? Without using it I will fall short .

 

[Tusharthakkar]

Can I make an affidavit for d same or it has to be on bank letter?

Some FD's which r big and those r in d name of my wife and her father ,, is there a way I can use this ? Without using it I will fall short .

For the savings bank account statement ,, do I must get it from bank or I can use the online one which contains same details as the one bank will provide?

 

[sundar17feb99]

For the savings bank account statement ,, do I must get it from bank or I can use the online one which contains same details as the one bank will provide?

Either way can be a followed. If you get from online, just to be on the safer side, get a branch seal by visiting the respective bank.

 

[jackdawn]

Can I make an affidavit for d same or it has to be on bank letter?

Some FD's which r big and those r in d name of my wife and her father ,, is there a way I can use this ? Without using it I will fall short .

A simple letter would do.

Check with the bank if they would transfer the same in your wife's name and make it a single FD

All these things you can explain in detail in an LOE

Good luck

 

[mycroft]

Hello Seniors,

I got a message in my account this morning asking me to send pay slips from my current employer with corresponding bank accounts. However, I get paid in Cash, how can I best present this without disqualifying my application? Thanks in advance.

 

[crescent_jam]

investment in equity is not covered under POF since they are volatile. You will have to sell them and show

Hey Guys,
I keep seeing persons in this forum post that investments tied to the market (e.g. stocks, bonds, unit trusts, etc.) are too 'volatile' and therefore cannot be used as POF, but I cannot find any documented evidence from CIC or IRCC that suggests this...

This 'rule' seems odd to me because, with the sums of money that IRCC is asking for as proof of funds, they must surely expect that very few persons would have that much money just sitting around in bank accounts or guaranteed investments garnering little to no interest. Persons actively involved in managing their finances and building wealth are going to have some or even most of their money placed in some of these types of so-called 'volatile' investments, along with real estate (which is apparently also inadmissible, but at least I can find evidence of this). So not allowing these types of funds, even if they can be easily liquidated, seems a little shortsighted...

I also find it odd that CIC/IRCC would expect persons to liquidate these investments before receiving PR approval. If their applications get rejected, and they've gone and liquidated (performing) investments, that's losing out twice. That's asking a lot of persons when they have no guarantee of the outcome of their application...

Would anyone be able to direct me to a website or online document from authorized sources, specifically stating that these kinds of investments cannot be used as POF? I would really appreciate it...

 

[dora115]

Hi All,

My question is regarding proof of funds.
I am in the US and my bank which is PNC bank only provides letter with the current balance. They are not ready to provide the average balance for last 6 months.
What are my options in this case?

Thanks

Hi were you able to get the letter from PNC, I also have account there.