CIBC Proof of Funds Letter - Asivad and Seniors please suggest

[nshakelly]

I am a single applicant and for FSW category, if I am not wrong the requirement of funds is $12,500. The Proof of Funds is the final document which I have been awaiting for since last 4 days from CIBC.

Today I get a call from CIBC and they mention that they cannot include any investment accounts on the letter, which include TFSA as well. Unfortunately, 60% of my funds which I had declared in my EE application are deposited in TFSA. I have the following questions -


1) Can I show the Proof of funds which shows my Savings, Chequing and Visa balances with the account open date and additional requirements (6 months statements) as per CIC.
2) Additionally, for the funds in TFSA, can I show the monthly or quarterly statements?

Please provide me your suggestions and alternate ways to file my documents for this section.

 

[JK_CAD]

Did they gave you any reason on why they can't provide it? If you can download the last 6 months TFSA statements and get stamped from CIBC. It should work.
I got to my bank and asked them to provide me last 6 months detailed statements from each account including TFSA and got stamped. I didn't got query on that.

 

[Kumarp]

I am a single applicant and for FSW category, if I am not wrong the requirement of funds is $12,500. The Proof of Funds is the final document which I have been awaiting for since last 4 days from CIBC.

Today I get a call from CIBC and they mention that they cannot include any investment accounts on the letter, which include TFSA as well. Unfortunately, 60% of my funds which I had declared in my EE application are deposited in TFSA. I have the following questions -


1) Can I show the Proof of funds which shows my Savings, Chequing and Visa balances with the account open date and additional requirements (6 months statements) as per CIC.
2) Additionally, for the funds in TFSA, can I show the monthly or quarterly statements?

Please provide me your suggestions and alternate ways to file my documents for this section.

If you have the TFSA account with CIBC, then they should not have any problem in providing them on a paper. I'd suggest you go into a CIBC bank in person and talk to a manager and let them know that you require this for Immigration and it's important. I was able to get the same from TD Canada trust bank with no issues. All I had to do is go in person and ask the front desk, they had a letter format especially made for immigration purposes.

If not, like other person said, just get a print out of last 6 months statement online and you should be able to use that.

 

[wildemam]

Go in person. Ask for a manager. If still says it's not their responsibility (as they usually have a sub-company for investments), ask him to call them himself and find a way to provide a stamped proof that you have money in their bank.

It is your legal right to get a proof that you stored money in their bank, in any form. TD usually have online statement download option that you can print and bring for them to check and stamp. CIBC must have similar options.

 

[nshakelly]

I did go in person 3 times, explained the situation and also printed off a screenshot from CIC website. Apparently, there is a separate team (Back office) which processes these letters and they have a standard letter termed as Immigration Letter.

"They are not ready to input any kind of Investment accounts on this letter" - This is the explanation given by one of the customer representative. However, I am going to meet the bank manager tomorrow.

Also, I was wondering if I include the statements specifically for TFSA along with the other accounts. Would it suffice? I am just worried what if the visa officer does not notice the other statements and just relies on the consolidated letter in which the TFSA balance is not mentioned.

 

[jemdill]

I did go in person 3 times, explained the situation and also printed off a screenshot from CIC website. Apparently, there is a separate team (Back office) which processes these letters and they have a standard letter termed as Immigration Letter.

"They are not ready to input any kind of Investment accounts on this letter" - This is the explanation given by one of the customer representative. However, I am going to meet the bank manager tomorrow.

Also, I was wondering if I include the statements specifically for TFSA along with the other accounts. Would it suffice? I am just worried what if the visa officer does not notice the other statements and just relies on the consolidated letter in which the TFSA balance is not mentioned.

Yeah CIBC sucks..
I had to show just $1500 for my study permit extension and had to get a Certificate from bank; They wanted me to pay $20 for that and had to wait for 5 days to get it.

I started account with RBC after that- and I have to tell u.. Such a nice Customer care and service.. They printed off everything on the notepad right away for my PR process- with my Credit card, Chequing, and saving with all info (account number, start date and amount) and did not include Line of Credit as I told them..

 

[Nightrocker]

I did go in person 3 times, explained the situation and also printed off a screenshot from CIC website. Apparently, there is a separate team (Back office) which processes these letters and they have a standard letter termed as Immigration Letter.

"They are not ready to input any kind of Investment accounts on this letter" - This is the explanation given by one of the customer representative. However, I am going to meet the bank manager tomorrow.

Also, I was wondering if I include the statements specifically for TFSA along with the other accounts. Would it suffice? I am just worried what if the visa officer does not notice the other statements and just relies on the consolidated letter in which the TFSA balance is not mentioned.

As I was reading your posts above it came in to my mind "why don't you include TFSA statements" and here you are, you got the answer. If bank is not willing to include the TFSA accounts in the letter, I think it shouldn't be an issue if you were to include your TFSA, RRSP, etc statements. Also, ask them to mention something like this in the letter at the very least: "nshakelly has a checking account with CIBC holding $$. Additionally nshakelly has a TFSA account with CIBC as well".

This is my opinion, lets see what other senior members say.

 

[nshakelly]

As I was reading your posts above it came in to my mind "why don't you include TFSA statements" and here you are, you got the answer. If bank is not willing to include the TFSA accounts in the letter, I think it shouldn't be an issue if you were to include your TFSA, RRSP, etc statements. Also, ask them to mention something like this in the letter at the very least: "nshakelly has a checking account with CIBC holding $$. Additionally nshakelly has a TFSA account with CIBC as well".

This is my opinion, lets see what other senior members say.

The bank does not modify its so called "Standard Letter" with any additional words. This amount in TFSA is not small for me to just neglect. I have been saving up since 2 years just for my immigration. Now they say it cannot be included in consolidated letter.

Being Optimistic is only way to hold my nerves. A serious consideration to start banking with the competitors.

 

[Nightrocker]

A serious consideration to start banking with the competitors.

Agree.

 

[ozlis]

Agree.

Had a similar nightmare with RBC - I'll be looking elsewhere once this is all finally finished!

 

[JoacRy]

Had a similar nightmare with RBC - I'll be looking elsewhere once this is all finally finished!

Wow, I guess it depends on the bank manager and how willing they are to accommodate you. My RBC manager initially said that she could not deviate from the Standard Template, but because she was an immigrant herself who came in under the old paper-based FSW program in 2007 she was more accommodating.

As I sat in her office I logged into my online profile and went to the indicator near the 'POF' in the Upload section and showed her exactly what I needed. As a result the letter wasn't 100% perfect but at least it had 90% of what I asked for.

 

[varinder1717]

I got the letter from CIBC stating my balance funds in Chequing and Savings account -- they had a special letter for Immigration which addressed to 'Canadian Immigration'.

I dint attach any 6 months statements to my file. I sent my file already to CIC but the upload file said they need bank letter with all the details with an average of 6 months balance.

IS it fine if I havent attached the 6 months statement??

 

[JoacRy]

I got the letter from CIBC stating my balance funds in Chequing and Savings account -- they had a special letter for Immigration which addressed to 'Canadian Immigration'.

I dint attach any 6 months statements to my file. I sent my file already to CIC but the upload file said they need bank letter with all the details with an average of 6 months balance.

IS it fine if I havent attached the 6 months statement??

Generally the 6 month statements should be attached (if the correct details are not covered in the letter). If you say that you covered everything you needed to cover in the letter then it should be ok.

 

[nshakelly]

Bumping this one to get seniors opinion / suggestions

 

[ntwkengg]

Bumping this one to get seniors opinion / suggestions

yes go to another cibc branch and explain them your situation.

this is your right to get statements showing all accounts and holdings.

if not then tell them you are switching to another bank in 1 week period.