Ray of Hope - 120th Draw

[Punitsingh]

Hi Punit ,

Not that i understand that the joint account I hold with my mother cannot be used for proof of funds, this will eventually mean that i need to open up a fresh bank account.

Assuming that I have done that today , and I transfer gift deeds in the form of cash and prove the sufficent funds ....will i still be in a state of risk since my bank account will be just 3 months old while i send my application for the EE.....

I heard that the avg time to assess the bank acc details must be atleast 6months .

Can you throw some light on that pls.
Thanks

Hi,
1. Don’t deposit cash, otherwise you need to prove where the cash came from
2. Transfer from your mother’s account via cheque or online, you need to mentioned cheque no. Or txn no in gift deed
3. Transfer must be from ur parents accounts only
4. Open savings account if don’t have already,
5. Transfer through cheques
6. Now open fd account on basis of ur saving account
7. If you are showing funds in savings account then 6 months statement is required but in case of fd account 10 days old find would work, pls also verify from others also, however you don’t have any other option than going for fd account
8. I have also heard that gift deed is also not required in case of fd, still exploring it

 

[WantToImmigrate]

Joint accounts can be used. The only condition is that the joint account holder be your spouse. For an unmarried individual, a sole account is mandatory.

Hey is this on canada.ca ?

 

[Punitsingh]

Hey is this on canada.ca ?

Joint account can only be used with spouse only that too when spouse is accompanying, yes this statement is on official cic website

 

[AB17]

Welcome to the WES haters club.
I am the self proclaimed President of this group.

Would you like to enroll for membership?

Haha Gladly...I feel like leaving Bazooka over them once i am in Canada... they give dumb annoying automatic replies

 

[WantToImmigrate]

Hi,
1. Don’t deposit cash, otherwise you need to prove where the cash came from
2. Transfer from your mother’s account via cheque or online, you need to mentioned cheque no. Or txn no in gift deed
3. Transfer must be from ur parents accounts only
4. Open savings account if don’t have already,
5. Transfer through cheques
6. Now open fd account on basis of ur saving account
7. If you are showing funds in savings account then 6 months statement is required but in case of fd account 10 days old find would work, pls also verify from others also, however you don’t have any other option than going for fd account
8. I have also heard that gift deed is also not required in case of fd, still exploring it

So this is my case.. I have a joint account X with my mother(I am the first account holder for X).. She has a joint account Y with me(She is the first account holder).. She has never deposited any funds into my account and I never into her accounts.. X has its fixed deposits.. Y has its..

Should I take her name off my accounts? What should I do?

Would an affidavit from my mother suffice? She could state that all the money is mine and we have kept accounts this way for ease of operation

 

[WantToImmigrate]

Joint account can only be used with spouse only that too when spouse is accompanying, yes this statement is on official cic website

URL?

 

[Punitsingh]

URL?

I read it couple of months ago, don’t remember

 

[Punitsingh]

So this is my case.. I have a joint account X with my mother(I am the first account holder for X).. She has a joint account Y with me(She is the first account holder).. She has never deposited any funds into my account and I never into her accounts.. X has its fixed deposits.. Y has its..

Should I take her name off my accounts? What should I do?

Would an affidavit from my mother suffice? She could state that all the money is mine and we have kept accounts this way for ease of operation

Joint account with mother won’t work in any case
It may be good idea to remove mother from joint account, but u need to explore further situations like her name or any track should not appear in 6 months history

 

[Punitsingh]

Joint account with mother won’t work in any case
It may be good idea to remove mother from joint account, but u need to explore further situations like her name or any track should not appear in 6 months history

My first statement is firm
Second statement is just an idea, don’t rely on it

 

[WantToImmigrate]

Joint account with mother won’t work in any case
It may be good idea to remove mother from joint account, but u need to explore further situations like her name or any track should not appear in 6 months history

It will show up for sure.. I can take her name off the accounts but then I would have to break all fixed deposit accounts.. then I would need to show where the funds came from..

 

[Punitsingh]

It will show up for sure.. I can take her name off the accounts but then I would have to break all fixed deposit accounts.. then I would need to show where the funds came from..

Can’t comment on this situation

 

[WantToImmigrate]

Can’t comment on this situation

Even if I remove the name.. the account history won't be impacted.. It'll always show that the account was held by someone else too

 

[Punitsingh]

Even if I remove the name.. the account history won't be impacted.. It'll always show that the account was held by someone else too

No worries, just follow the process of opening FD account as I mentioned in earlier post, and ur case is gud to go

 

[EnthuChap]

Agreed and if someone is showing joint account with spouse then spouse must accompany

Again, not necessary. If the funds are solely in spouse's account, then she can simply give a letter of consent and funds will be acceptable.

She may or may not accompany you and that won't have any bearing on the validity of the PoF. Recall that you do apply as if your spouse is accompanying even if it's a non-accompanying spouse. Spouse remains an integral part of the application.

 

[rajapanesar]

URL?

https://www.canada.ca/en/immigration-refugees-citizenship/services/immigrate-canada/express-entry/documents/proof-funds.html
Read it to the fullest. You'll find your answers.