Proof of Funds (Express Entry)

[rehanacca]

Please confirm whether the below documents will be enough for POF.

* Notarized gift deed from father

* Scanned copy of cheque received

* Explanation in LOE for gift deed

* Six months bank statement printed on bank's letterhead but with no sign or stamp. Bank told that they don't stamp account statements printed on letterheads. They can either provide signed and stamped statement on plain A4 or unsigned and unstamped on letterhead. I got both. Which one should i submit?

* Balance confirmation letter from bank signed by two managers of the branch mentioning my account number, account opening date, my name and current balance. But no stamps as the letter was printed on letterhead.

Please confirm. I need to submit tomorrow.

 

[DelPiero07]

Please confirm whether the below documents will be enough for POF.

* Notarized gift deed from father

* Scanned copy of cheque received

* Explanation in LOE for gift deed

* Six months bank statement printed on bank's letterhead but with no sign or stamp. Bank told that they don't stamp account statements printed on letterheads. They can either provide signed and stamped statement on plain A4 or unsigned and unstamped on letterhead. I got both. Which one should i submit?

* Balance confirmation letter from bank signed by two managers of the branch mentioning my account number, account opening date, my name and current balance. But no stamps as the letter was printed on letterhead.

Please confirm. I need to submit tomorrow.

Oui.

 

[birshah]

About Proof of funds, I have enough amount in Mutual funds - some are ELSS with lock-in period but most are open. Also, I have got good amount of Provident Fund. While applying for express entry, can I keep proof of funds as high or highest possible? Does it help anyway? Also, I may not be bringing all these funds with me on immediate basis when I relocate to Canada but may transfer in few months through bank transfer or so. So, is it find to show as proof of funds or is it wrong info?

 

[Hasan Raza Awan]

Please confirm whether the below documents will be enough for POF.

* Notarized gift deed from father

* Scanned copy of cheque received

* Explanation in LOE for gift deed

* Six months bank statement printed on bank's letterhead but with no sign or stamp. Bank told that they don't stamp account statements printed on letterheads. They can either provide signed and stamped statement on plain A4 or unsigned and unstamped on letterhead. I got both. Which one should i submit?

* Balance confirmation letter from bank signed by two managers of the branch mentioning my account number, account opening date, my name and current balance. But no stamps as the letter was printed on letterhead.

Please confirm. I need to submit tomorrow.

1,2,3) All are fine
4) The last page of bank statement is always signed by Bank Officer. (If you ask them they don't refuse).
5) Account maintenance certificate is printed on bank's letter head and signed by the concerned officer with his/her name mentioned. Stamp is not compulsory because if its printed on letter head they don't sign. CIC won't ask the concerned branch for account verification. Banks have created a separate desk for Embassies for verification. They are directly linked with head offices of the banks.

Regards

 

[Hasan Raza Awan]

Correct, they updated the funds this year.

Thank you

 

[santhkum90]

Please confirm whether the below documents will be enough for POF.

* Notarized gift deed from father

* Scanned copy of cheque received

* Explanation in LOE for gift deed

* Six months bank statement printed on bank's letterhead but with no sign or stamp. Bank told that they don't stamp account statements printed on letterheads. They can either provide signed and stamped statement on plain A4 or unsigned and unstamped on letterhead. I got both. Which one should i submit?

* Balance confirmation letter from bank signed by two managers of the branch mentioning my account number, account opening date, my name and current balance. But no stamps as the letter was printed on letterhead.

Please confirm. I need to submit tomorrow.

Hi rehanacca,

The documents you have mentioned are all fine. Bank statements that are generally printed on letterhead do not need any signatures (For my case I submitted only the e-statements from my bank). Only the Financial Standing statement/Balance confirmation letter has to be in a letter head (should contain all the information, as mentioned in the CIC website) and signed by the concerned bank manager.

Regards,
Santhosh

 

[pedro2121]

You must have the funds when submitting your e-APR after receiving your ITA.

That being said, if you are going to deposit the funds in a lump sum amount you better have proof of where that money came from.

Hi,

I guess my question might be repetitive and I'm sorry for that, but I'd be grateful if you could help me with following issue:

A couple of days ago I met an immigration consultant and he told me that I need to have the minimum amount of money specified by IRCC in my bank account at least six months before submitting my application. If it's true then we have to deposit that amount of money a few months before receiving ITA. Considering the fact that my CRS score is not that high and it's not predictable whether I get an ITA or not, it's quite impossible for me to put that money from now.

Could you please enlighten me about this matter.

I really appreciate your help in advance

 

[DelPiero07]

Hi,

I guess my question might be repetitive and I'm sorry for that, but I'd be grateful if you could help me with following issue:

A couple of days ago I met an immigration consultant and he told me that I need to have the minimum amount of money specified by IRCC in my bank account at least six months before submitting my application. If it's true then we have to deposit that amount of money a few months before receiving ITA. Considering the fact that my CRS score is not that high and it's not predictable whether I get an ITA or not, it's quite impossible for me to put that money from now.

Could you please enlighten me about this matter.

I really appreciate your help in advance

There is simply no such rule, that consultant is ignorant and if I were in your position I wouldn't work with him.

It doesn't matter if you have the money for 6 months or a single day, as long as you can prove where it came from (gift deed, sale of assets, savings from salary, etc) you won't face any issues. Not only did I do this with my own application but I also advised couple dozens of others applicants to do so and they are PR now.

 

[akila868]

I have a fixed deposit in one Bank (Bank A). If I transfer it to another bank (Bank B) to a Fixed Deposit, will the following be sufficient to prove the 6 months balance maintenance;

1. Color copies of FD certificates issued by Bank A (from July'17).
2. If the funds have been credit to a savings account in Bank A and then a draft is issued, color copies of the statement along with color copy of the Bank Draft to Bank B.
3. Color copy of the FD certificate from Bank B.
4. Explain in LOE.

 

[pedro2121]

There is simply no such rule, that consultant is ignorant and if I were in your position I wouldn't work with him.

It doesn't matter if you have the money for 6 months or a single day, as long as you can prove where it came from (gift deed, sale of assets, savings from salary, etc) you won't face any issues. Not only did I do this with my own application but I also advised couple dozens of others applicants to do so and they are PR now.

Thank you so much for your helpful tips. I really appreciate it.

Could you please clarify how I should prove where the money came from. For example, if I sale something, do I need to include any further documents in addition to the bank letter?

Many thanks for your guidance

 

[DelPiero07]

Thank you so much for your helpful tips. I really appreciate it.

Could you please clarify how I should prove where the money came from. For example, if I sale something, do I need to include any further documents in addition to the bank letter?

Many thanks for your guidance

Yes, if you sell let's say a car/property/land there should be an official document stating such transaction. Include that document + bank letter + bank statement (to prove that the money was deposited in your account at XYZ date) + a LOE regarding the situation.

 

[pedro2121]

Yes, if you sell let's say a car/property/land there should be an official document stating such transaction. Include that document + bank letter + bank statement (to prove that the money was deposited in your account at XYZ date) + a LOE regarding the situation.

Sorry for asking many questions. Please bare with me.

What if I borrow a little amount of money from my parents, let's say 20% of the minimum fund required? will they reject the application?

Thank you

 

[DelPiero07]

Sorry for asking many questions. Please bare with me.

What if I borrow a little amount of money from my parents, let's say 20% of the minimum fund required? will they reject the application?

Thank you

You cannot borrow money to meet the required funds. If they are willing to gift you the money then that's another story, you can get a gift deed and it will be fine.

 

[pedro2121]

You cannot borrow money to meet the required funds. If they are willing to gift you the money then that's another story, you can get a gift deed and it will be fine.

Many thanks. I've learnt a lot from you

 

[im.ran]

Hi Guys,

I have got letter from bank for proof of fund requirement but that letter does not show my current balance and also not average balance over past six months.

The letter states that account have been open from XX date with my name, passport number, account number and been conducted satisfactorily.

In addition to this, I am submitting past six months bank statement. (This bank statement is not continuous i.e. in actual they are 02 tri-month bank statements).

For source of funds, I will be submitting my salary slips and one email from tax refund authority (as it was a big amount for tax refund).

Appreciate, if senior members can advise whether the above submission will be sufficient?

Thanks in advance.

Regards,