about proof of funds

[mitali]

My problem is same like Micuzza.................My recent, 4 months bank statements show enough cash but the first 2 statements are around $9000. So do we require to show $13000 + ..... for the last 6 months or its the latest balance that is important.

1 st month = around $9,000
2nd month = around $10,000
3rd month = 13,000 +
4th month = 15,000 +
5th month = 18,000 +
6th month = 21,000 +

With each months paycheck deposited as a proof that we didn't borrow money from anybody. Is it valid or I need to start from $13,000 from the 1st month?
Please anybody with any information help us.

Hi,

Check my response in the same thread. If your current balance is 21,000 and that is what you need (considering the # of people in your family), then you are fine. People save over the time.

Now, if you have mentioned in your initial document (that you send to CIO) that you have 21,000, then that's wrong, because initially you had only 9000. So that is fraud....in legal terms. Most of the visa office only require the latest balance and 3 months statement. I really do not know how to go around it. Buffalo office needs 6 months statement.

The most you can do is to change (obviously you will) the amount to the latest amount and mention in your cover letter that currently you have XX amount and you are sending 4 months of statement which will reflect the deposit from your pay cheque.

Beware that you might be asked for older statement in case your visa office is Buffalo. Do you have more time for submission of your Full documents, then wait for 2 months and send the docs. To be late is better than getting rejected for this. But dont miss your 120day date.

Another way to look at is - your documents will take a while to be assessed and if at all you are called in to justify, you can show the additional funds that you have been accumulating. Which will become very obvious for the VO to see that all the money is yours.

Mitali

 

[micuza2004]

As far as I can tell, I see the things in this way...even if the VO-Buffalo requires the letter and the 6 months bank statements, that doesn't mean that we should have had the money 6 months ago, that is absurd...nobody can force you to keep an XXXXX amount of money before you even get the AOR from CIO...that is how I understand. I guess they require the last 6 bank statements to see if your account is active, you make deposits and withdraws. I mean C'mon why should I have kept that money stucked in an account for XXX months if I wasn't even sure that I will get the AOR, right? All I know that is wise to not touch the money after you send the documents to the VO because they might ask you later to show the POE again.

 

[mitali]

As far as I can tell, I see the things in this way...even if the VO-Buffalo requires the letter and the 6 months bank statements, that doesn't mean that we should have had the money 6 months ago, that is absurd...nobody can force you to keep an XXXXX amount of money before you even get the AOR from CIO...that is how I understand. I guess they require the last 6 bank statements to see if your account is active, you make deposits and withdraws. I mean C'mon why should I have kept that money stucked in an account for XXX months if I wasn't even sure that I will get the AOR, right? All I know that is wise to not touch the money after you send the documents to the VO because they might ask you later to show the POE again.

Hi micuza,

I completely agree with you....why should I stack money for 6 months without knowing the outcome. And yes the purpose to check for 6 months is correctly assessed by you.

The question was - If somebody would mention the required money for eg 20,000 in his initial application to CIO, which he did not have at that point, then what happens? How would he justify the statement that he made in his initial application? Because that is one of the "Selection points" at CIO. Application would be rejected if the amount shown at the Initial assessment does meet the required amount.

Please correct me if I am wrong.

Mitali

 

[micuza2004]

I don't know what to say Mitali, but these days the guys from CIC, CIO, whatever..., follow some weird selection steps, and that is what scares me the most. besides all, we hear everyday horror scenarios about people who got refused upon "who knows" reasons...that sometimes I think that what is written on their website doesn't fit with their selection criteria...let's hope everything will be fine.

 

[cforcanada]

Hi,

Check my response in the same thread. If your current balance is 21,000 and that is what you need (considering the # of people in your family), then you are fine. People save over the time.

Now, if you have mentioned in your initial document (that you send to CIO) that you have 21,000, then that's wrong, because initially you had only 9000. So that is fraud....in legal terms. Most of the visa office only require the latest balance and 3 months statement. I really do not know how to go around it. Buffalo office needs 6 months statement.

The most you can do is to change (obviously you will) the amount to the latest amount and mention in your cover letter that currently you have XX amount and you are sending 4 months of statement which will reflect the deposit from your pay cheque.

Beware that you might be asked for older statement in case your visa office is Buffalo. Do you have more time for submission of your Full documents, then wait for 2 months and send the docs. To be late is better than getting rejected for this. But dont miss your 120day date.

Another way to look at is - your documents will take a while to be assessed and if at all you are called in to justify, you can show the additional funds that you have been accumulating. Which will become very obvious for the VO to see that all the money is yours.

Mitali

Thankx Mitali for your comment, but you are talking about old process. Now the law has changed. There is no 120 days anymore. You have to submit all the documents to CIO in Sydney. So you can't mention anything false in the initial document, as you will be sending the supporting docuements attached with it. That is why I was worried about my problem. Whether the initial fund needs to be more than $13000 for two people.
Thankx again.

 

[micuza2004]

I think I was a little off topic because I thought that we were talking about the law before June 2010 , that is my case, and that is why I said that it seems to me absurd to have had the money in the account 6 months before the whole procedure...still I don't remember because I was so busy with gathering my documents...this thing with the 6 months statements was before June 2010, too? Or it changed after June?

 

[mitali]

I think I was a little off topic because I thought that we were talking about the law before June 2010 , that is my case, and that is why I said that it seems to me absurd to have had the money in the account 6 months before the whole procedure...still I don't remember because I was so busy with gathering my documents...this thing with the 6 months statements was before June 2010, too? Or it changed after June?

Hi,
I was definitely talking with reference to old rule.

Ok, need to revise my answer cforcanada.

Mitali

 

[mitali]

Thankx Mitali for your comment, but you are talking about old process. Now the law has changed. There is no 120 days anymore. You have to submit all the documents to CIO in Sydney. So you can't mention anything false in the initial document, as you will be sending the supporting docuements attached with it. That is why I was worried about my problem. Whether the initial fund needs to be more than $13000 for two people.
Thankx again.

Hi cforcanada,

Both myself and Micuza thought you were talking about the old rule. Yes, I know the 120 day rule does not exist for new applicants.

So you are going to be applying under the new rule and you are worried that the first 2 months of your statement does not show enough money but the later (4 month period ) has. In that case you are fine... because over the months you have accumulated the funds ( as represented by your regular deposits of salary pay) and at the time of submission of your application you have more than enough for two people.

NOTHING to worry about. Sorry for not understanding your question correctly. Hope now everything is clear.

Mitali