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Proof of Funds (Express Entry)

moak091

Member
May 25, 2018
11
0
It will be good if you show your Texas bank account statement (currrent) and also the NRE bank account statement (savings). You can prove you are receiving your payroll in one and on the other hand building up your savings on the other ones. Make sure you have enough funds available in total though :D
Not sure about the online statement(sply since your accounts are in TX and India right now). I submitted my statement that I receive by email through my Canadian bank

I didn't understand your last line? By EMAIL through CANADIAN bank?
 

sandhu2012

Star Member
Jan 18, 2016
178
160
Category........
FSW
NOC Code......
1121
I have a query...

I had more than around 19k CAD ( for 3 members), in my account at the time of ITA, and m still waiting for my PPR...
due to some emergency, I had to take out around 4k CAD.. so the money in the account is less than the required...I want to know will it affect anything?
 

FMT

Star Member
Feb 28, 2018
199
65
I have a query...

I had more than around 19k CAD ( for 3 members), in my account at the time of ITA, and m still waiting for my PPR...
due to some emergency, I had to take out around 4k CAD.. so the money in the account is less than the required...I want to know will it affect anything?
It may and it may not. It depends on if they decide to go check with your bank. Just hope they don't do that and all is well.
 

sandhu2012

Star Member
Jan 18, 2016
178
160
Category........
FSW
NOC Code......
1121
It may and it may not. It depends on if they decide to go check with your bank. Just hope they don't do that and all is well.
Oh okay.. even if they check, will they give me a chance to prove that i have sufficient funds?
 

vemuri

Member
Jan 3, 2018
19
2
Quick question to all,

Currently my personal account in India have less than 100 US dollars for the last six months. My parents agreed to transfer funds needed to my account.
After they transfer the money,
Do i need to wait for few months so that my average balance for last 6 months will increase ?
 

DelPiero07

VIP Member
Oct 2, 2016
10,388
2,614
Job Offer........
Pre-Assessed..
Quick question to all,

Currently my personal account in India have less than 100 US dollars for the last six months. My parents agreed to transfer funds needed to my account.
After they transfer the money,
Do i need to wait for few months so that my average balance for last 6 months will increase ?
No. As long as you execute the gift deed you need not wait at all.
 

vemuri

Member
Jan 3, 2018
19
2
No. As long as you execute the gift deed you need not wait at all.
Thanks DelPiero07

Bank Manager said that he will provide me copy of letter saying money was transferred from my mothers account to my personal account.
Do we need bank receipt to show that money was transferred from my mothers account to my personal account ?
 
Last edited:

Archavin89

Hero Member
Apr 8, 2018
470
148
Does anyone know if a letter from the bank stating I am one of the beneficiaries (have X percentage of the company's portfolio) of an Offshore Trust (but not the only one) would work as a proof of funds? The portfolio is consisted by cash, stocks, bonds and others investments products.

Or this is assessed as being like a ''joint account'' since there are other beneficiaries as well and, thus, cannot be used?

ps: Considering, of course, the letter also states al the other information required (Average balance for the past 6 months, account number etc).
 

bimale4bipeople

VIP Member
Apr 15, 2018
4,627
1,674
Does anyone know if a letter from the bank stating I am one of the beneficiaries (have X percentage of the company's portfolio) of an Offshore Trust (but not the only one) would work as a proof of funds? The portfolio is consisted by cash, stocks, bonds and others investments products.

Or this is assessed as being like a ''joint account'' since there are other beneficiaries as well and, thus, cannot be used?

ps: Considering, of course, the letter also states al the other information required (Average balance for the past 6 months, account number etc).
All they are looking for is cash available in your account. idea behind is that when you land here, you should have access to those funds any emergencies..
 
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Archavin89

Hero Member
Apr 8, 2018
470
148
All they are looking for is cash available in your account. idea behind is that when you land here, you should have access to those funds any emergencies..
First of all, thanks for ur response.

I understand what the main purpose of the proof of funds is.

What I am concerned about it is the fact that it is only one account (and more than one beneficiary) linked w the Offshore Trust. Thus, I do not know if they will consider that as being a ''joint account'' even if the bank states I own X percentage of the portfolio.

ps: the others beneficiaries r not moving to Canada
 
Last edited:

bimale4bipeople

VIP Member
Apr 15, 2018
4,627
1,674
First of all, thanks for ur response.

I understand what the main purpose of the proof of funds is.

What I am concerned about it is the fact that it is only one account (and more than one beneficiary) linked w the Offshore Trust. Thus, I do not know if they will consider that as being a ''joint account'' even if the bank states I own X percentage of the portfolio.
Joint account should not be a problem, Mine is a joint account(Chq & Sav) too(but its a local Canadian bank). As long as you can show cash in your account any additional info will not be required.
 

mhk16

Star Member
Jul 20, 2017
85
5
Is it mandatory to submit my father's bank statement too in case of a gift deed?

All the help is appreciated.