Proof of funds - format and requirement

[wickerman]

Just a question for you guys. Here is a screenshot of the letter I got from my bank. This document from Chase seems to have all the needed details for proof of funds. Do I have to also get 6 month bank statements? Or is this enough? See screenshot below:

 

[wolfman2017]

No expert here but that looks good.

Sorry to be hijacking your thread.

Do we have to declare all our accounts in all banks or is it sufficient to just show enough funds in one bank account?
The reason I ask is I have accounts with multiple banks and have enough funds in account in one bank (Have declared this). The other account is in different bank and also has enough funds but also has credit card account even though debt is low (Not shown to IRCC). I also have car loan (Not shown to IRCC). I also have other credit card accounts that I have not declared to IRCC.

My total funds is greater than net debt and is also enough for POF but I declared only one of the accounts. Is this an issue?

 

[adrlim]

Just a question for you guys. Here is a screenshot of the letter I got from my bank. This document from Chase seems to have all the needed details for proof of funds. Do I have to also get 6 month bank statements? Or is this enough? See screenshot below:

Hi there is a set of instructions given on POF. Just send that to the bank and ask them to provide a letter with a signature.

I remember it has date of when account was opened and what the closing balances are for the last 6 months.

I guess it's a requirement from immigration

 

[adrlim]

No expert here but that looks good.

Sorry to be hijacking your thread.

Do we have to declare all our accounts in all banks or is it sufficient to just show enough funds in one bank account?
The reason I ask is I have accounts with multiple banks and have enough funds in account in one bank (Have declared this). The other account is in different bank and also has enough funds but also has credit card account even though debt is low (Not shown to IRCC). I also have car loan (Not shown to IRCC). I also have other credit card accounts that I have not declared to IRCC.

My total funds is greater than net debt and is also enough for POF but I declared only one of the accounts. Is this an issue?

I think so long your account shows sufficient funds for your case it should be fine. Ask the bank to write a letter providing all the details given in the POFs guide.

 

[wolfman2017]

I think so long your account shows sufficient funds for your case it should be fine. Ask the bank to write a letter providing all the details given in the POFs guide.

They did and have submitted letter too but have not submitted from all banks.

 

[wickerman]

Hi there is a set of instructions given on POF. Just send that to the bank and ask them to provide a letter with a signature.

I remember it has date of when account was opened and what the closing balances are for the last 6 months.

I guess it's a requirement from immigration

The document I have attached has all of the requirements as per CIC. Which is as below:

Letter(s) must:

• be printed on the financial institution’s letterhead
• include their contact information (address, telephone number and email address)
• include your name
• include, for each current bank and investment account:
  • account numbers
  • the date each account was opened
  • the current balance of each account
  • the average balance for the past six months

My question however is if I need 6 months of bank statements to go with it as well?

 

[wolfman2017]

The document I have attached has all of the requirements as per CIC. Which is as below:

Letter(s) must:

• be printed on the financial institution’s letterhead
• include their contact information (address, telephone number and email address)
• include your name
• include, for each current bank and investment account:
  • account numbers
  • the date each account was opened
  • the current balance of each account
  • the average balance for the past six months

My question however is if I need 6 months of bank statements to go with it as well?

You don't. I just submitted the letter for accounts with one of my banks. No statements.

 

[adrlim]

The document I have attached has all of the requirements as per CIC. Which is as below:

Letter(s) must:

• be printed on the financial institution’s letterhead
• include their contact information (address, telephone number and email address)
• include your name
• include, for each current bank and investment account:
  • account numbers
  • the date each account was opened
  • the current balance of each account
  • the average balance for the past six months

My question however is if I need 6 months of bank statements to go with it as well?

In my case what I did was in the letter from the bank I asked them to state the balances for the 6 months. I did not give them the 6 months statements.

So in the letter it had balances of:

Month 1
Month 2
Month 3
Month 4
Month 5
Month 6

I think the reason they ask for this is they want to ensure there is no sudden deposit of a large sum of money and how stable the account has been. That's my guess.

 

[wickerman]

In my case what I did was in the letter from the bank I asked them to state the balances for the 6 months. I did not give them the 6 months statements.

So in the letter it had balances of:

Month 1
Month 2
Month 3
Month 4
Month 5
Month 6

I think the reason they ask for this is they want to ensure there is no sudden deposit of a large sum of money and how stable the account has been. That's my guess.

Oh I got your point. That is covered by the 12 month average balance column. Which is better than the 6 month average balance

 

[wickerman]

The average balance figure is enough right, I dont think you need each month's balance? Can someone clarify?

 

[wolfman2017]

The average balance figure is enough right, I dont think you need each month's balance? Can someone clarify?

Average balance is good. I did the same from BOFA

 

[wickerman]

Average balance is good. I did the same from BOFA

Awesome! That saves me some paperwork haha.

 

[victorclarke]

I actually have my POF in an investment account in USD. Will the letter of investment issued to me suffice? and also will the USD investment be an issue since it is not in CAD

 

[aiyosami]

Just a question for you guys. Here is a screenshot of the letter I got from my bank. This document from Chase seems to have all the needed details for proof of funds. Do I have to also get 6 month bank statements? Or is this enough? See screenshot below:

Hi Wickerman, I am getting a similar letter from Chase for my Checking and Savings account. Did you have to provide any other additional documents apart from the letter you have shown here?

 

[MohanKM]

Awesome! That saves me some paperwork haha.

Hi @wickerman ,

Did you submit 6 month bank statements as part of POF? or just the letter from Chase?

Thanks,
Mohan