Proof of Funds

[ryan1990]

Hey guys,

I recently got a gift from my uncle (USD $12,000) for POF, got a gift deed made and had it notarized.

Since I'm not financially great, my 6 month average balance is $145. Would this be a problem? Should I wait a couple of days until my average balance gets higher by this deposit? Or should I go ahead and upload the Bank letter and LoE.

 

[Mr_fabrizio]

Hey guys,

I recently got a gift from my uncle (USD $12,000) for POF, got a gift deed made and had it notarized.

Since I'm not financially great, my 6 month average balance is $145. Would this be a problem? Should I wait a couple of days until my average balance gets higher by this deposit? Or should I go ahead and upload the Bank letter and LoE.

I would prefer you use fixed deposit and transfer the said funds into a FD account,and get a letter for the FD stating that those funds are unencumbered and accessible to you at anytime

 

[vivosvoco]

Hey guys,

I recently got a gift from my uncle (USD $12,000) for POF, got a gift deed made and had it notarized.

Since I'm not financially great, my 6 month average balance is $145. Would this be a problem? Should I wait a couple of days until my average balance gets higher by this deposit? Or should I go ahead and upload the Bank letter and LoE.

There was a member who waited almost 1 year and got rejected recently because the VO was not convinced by the gift deed from his uncle.

 

[ryan1990]

There was a member who waited almost 1 year and got rejected recently because the VO was not convinced by the gift deed from his uncle.

With the gift deed, I also have the check image where the memo clearly mentions "Gift". Would it still be problematic?

 

[Kayne]

With the gift deed, I also have the check image where the memo clearly mentions "Gift". Would it still be problematic?

Don't let the above responders frighten you. The gift deed is perfectly okay. Many have used it and gotten PPR with it. Just write a letter of explanation about where the gift deed came from and scan the check showing that it's a gift from your father. Don't forget the bank letter as well. A 6 months statement is helpful if its also your salary account.

 

[ryan1990]

Don't let the above responders frighten you. The gift deed is perfectly okay. Many have used it and gotten PPR with it. Just write a letter of explanation about where the gift deed came from and scan the check showing that it's a gift from your father. Don't forget the bank letter as well. A 6 months statement is helpful if its also your salary account.

That's what I've been reading too! Thanks for the confirmation, appreciate it.