Black Market Exchange Rate for Proof of Funds?

[hamgha]

I can't begin to thank you enough. Finally, you're someone who understands what's going on. I'll be providing proof with 25million LBP. I was smart enough to save 10k USD at home, so I can use those in case I got my PR.

Again thank you greatly.

One last question, do you think a gift deed is necessary or can I just have my parents sign self-declarations between me and them about the LBP the will gift me. Since my account will be new.

Yeah better do it. If you already have an account just have them transfer to it. Legally they can't stop you from taking your own money. Once you get your PPR anyways you'll have time to figure out how to take your money. You can go to ketib 3adel i think and press charges then you can transfer. In other cases, if there's a "convincing" reason, they're allowing transfers. For example parents in Lebanon with kids abroad are able to send them wire transfers without issue. So you might get away with that but let's hope it won't get there.
Good luck!

 

[theshred]

Yeah better do it. If you already have an account just have them transfer to it. Legally they can't stop you from taking your own money. Once you get your PPR anyways you'll have time to figure out how to take your money. You can go to ketib 3adel i think and press charges then you can transfer. In other cases, if there's a "convincing" reason, they're allowing transfers. For example parents in Lebanon with kids abroad are able to send them wire transfers without issue. So you might get away with that but let's hope it won't get there.
Good luck!

Most banks have implemented a "new system" which they call "fresh funds". By this system, any USD cash that gets deposited can be wired.

I still don't trust them by one bit, which is why I won't deposit my USD and will be using the LBP account instead.

Thank you so much for your replies, you have been very helpful.

 

[hamgha]

Most banks have implemented a "new system" which they call "fresh funds". By this system, any USD cash that gets deposited can be wired.

I still don't trust them by one bit, which is why I won't deposit my USD and will be using the LBP account instead.

Thank you so much for your replies, you have been very helpful.

yes i transferred money from here to close my credit card (long fight with audi bank) and found out they opened a separate bank account called external because i sent money from abroad. not sure what they're messing up but there is a lack of trust.if you have enough lbp to cover proof of funds and have extra USD in cash to live when you're here, you will be fine

 

[Ykh]

yes i transferred money from here to close my credit card (long fight with audi bank) and found out they opened a separate bank account called external because i sent money from abroad. not sure what they're messing up but there is a lack of trust.if you have enough lbp to cover proof of funds and have extra USD in cash to live when you're here, you will be fine

Hello, I am also from Lebanon, received my ITA recently, I got my proof of funds showing that I have 10k$ in the account but as you know I cannot withdraw the whole amount. So, the bank suggested that I begin withdrawing money within the monthly limit since I already have my POF, but I am worried that they would double-check and discover that the required amount is not there anymore. However, the bank assured me that they do no double-check and it will be safe, I am still hesitant. What do you suggest? should I start withdrawing money?

Thank you

 

[hamgha]

Hello, I am also from Lebanon, received my ITA recently, I got my proof of funds showing that I have 10k$ in the account but as you know I cannot withdraw the whole amount. So, the bank suggested that I begin withdrawing money within the monthly limit since I already have my POF, but I am worried that they would double-check and discover that the required amount is not there anymore. However, the bank assured me that they do no double-check and it will be safe, I am still hesitant. What do you suggest? should I start withdrawing money?

Thank you

Well they won't go into your account for sure but now with the currency potentially being devaluated officially that much, they might request a second proof of funds or a more updated one. What's your monthly limit at the stage now anyways? Are you a single person? Do you have a support system in Canada? Or alternative funds? I know the situation is complicated these days.

 

[Ykh]

Well they won't go into your account for sure but now with the currency potentially being devaluated officially that much, they might request a second proof of funds or a more updated one. What's your monthly limit at the stage now anyways? Are you a single person? Do you have a support system in Canada? Or alternative funds? I know the situation is complicated these days.

My monthly limit is 600$ (so far), I think I'm gonna start withdrawing $ and replace it with LBP (i get paid in $ and LBP these days) to keep the amount above the requirement. In the case of the exchange rate changing, then I will add the difference to the account, I cannot think of any other solution since I do not have another financial source. I must mention that I have an amount in LBP that can be withdrawn immediately no matter how big it is and can be converted into $ but not with the official exchange rate, meaning I will lose a percentage of its value depending on the rate then. I know the situation is complicated and I trying to find a solution. What do you think about withdrawing the $ and replacing it?

 

[hamgha]

My monthly limit is 600$ (so far), I think I'm gonna start withdrawing $ and replace it with LBP (i get paid in $ and LBP these days) to keep the amount above the requirement. In the case of the exchange rate changing, then I will add the difference to the account, I cannot think of any other solution since I do not have another financial source. I must mention that I have an amount in LBP that can be withdrawn immediately no matter how big it is and can be converted into $ but not with the official exchange rate, meaning I will lose a percentage of its value depending on the rate then. I know the situation is complicated and I trying to find a solution. What do you think about withdrawing the $ and replacing it?

you could do that, just wanted to mention that if you already have the pof in lbp, regardless of your usd account, and the amount is enough for pof, then you only have to show that. you're not required to show them all of the money you have in all of your accounts. All immigration really cares about is that when you come here you will have enough money to live and that you didn't borrow it just to fake that you own it and then move here and have nothing.

 

[kareemg]

Hey guys, my scenario is much worse. I got my ITA 16 days ago, I've managed to complete all the required documents except the proof of funds. My problem is that I had withdrawn all my money from my bank account back in November when the crisis started, so I can't get a bank statement showing the required balance. I have the funds in cash. What do you propose I do?

 

[Daher-Leb]

care to share infos about reliable consultants you worked with from lebanon ?

 

[linlin]

My monthly limit is 600$ (so far), I think I'm gonna start withdrawing $ and replace it with LBP (i get paid in $ and LBP these days) to keep the amount above the requirement. In the case of the exchange rate changing, then I will add the difference to the account, I cannot think of any other solution since I do not have another financial source. I must mention that I have an amount in LBP that can be withdrawn immediately no matter how big it is and can be converted into $ but not with the official exchange rate, meaning I will lose a percentage of its value depending on the rate then. I know the situation is complicated and I trying to find a solution. What do you think about withdrawing the $ and replacing it?

Hi, did this work out for you? Have they accepted your POF and did they ask for more information?
We are dealing with this right now, my partner got the ITA but when he tried getting the bank letter today, they said they don't give this out anymore because of the situation. The bank said that countries abroad now know we can't take out the money from the bank anyway!
They still can give us a bank statement of accounts... Would that be enough? Is there any way to prove we have enough in cash without putting it in a Lebanese bank?

 

[Ykh]

Hi, did this work out for you? Have they accepted your POF and did they ask for more information?
We are dealing with this right now, my partner got the ITA but when he tried getting the bank letter today, they said they don't give this out anymore because of the situation. The bank said that countries abroad now know we can't take out the money from the bank anyway!
They still can give us a bank statement of accounts... Would that be enough? Is there any way to prove we have enough in cash without putting it in a Lebanese bank?

I sent you a private message to help you more.

 

[Jenniferch]

I sent you a private message to help you more.

Hi please im facing a similar situation can you please help me ?? Thank u

 

[AnnaJ4990]

Hi, did this work out for you? Have they accepted your POF and did they ask for more information?
We are dealing with this right now, my partner got the ITA but when he tried getting the bank letter today, they said they don't give this out anymore because of the situation. The bank said that countries abroad now know we can't take out the money from the bank anyway!
They still can give us a bank statement of accounts... Would that be enough? Is there any way to prove we have enough in cash without putting it in a Lebanese bank?

Hello there, I'm also Lebanese facing similar issue with proof of funds. I have USD in bank account that I cannot withdraw and now bank is telling they can only give me statement of account. I have USD cash saved up from salary but don't want to deposit in external account. Please let me know if you were able to find a solution?

 

[AnnaJ4990]

I sent you a private message to help you more.

Can you please advise on solution. I'm facing similar issue with proof of funds. Appreciate any feedback if you have a solution for this!

 

[linlin]

Hello there, I'm also Lebanese facing similar issue with proof of funds. I have USD in bank account that I cannot withdraw and now bank is telling they can only give me statement of account. I have USD cash saved up from salary but don't want to deposit in external account. Please let me know if you were able to find a solution?

Hi, what we ended up doing (after a lot of research and talking to others who are also applying / have applied from lebanon) is that we kept the USD in the bank, we added the missing amounts in LBP and got a bank statement for the past 6 months. Turns out most Lebanese banks don't give bank letters in the first place, they only give statements of accounts. Official rate is still 1,515 so you should be fine for POF if you have a mix of USD and LBP at the bank that add up to the funds required by IRCC. We are also saving up money at home in cash which we will actually take with us to Canada, because right now we can't be sure that we can transfer anything we have in our Lebanese banks or when.. This is what everyone is doing so let's all hope for the best.