Confusion about settlement funds for OOPNP

[Stanlee]

Hi Stanlee,

For your question, I have the bank accounts in my name including saving and checking accounts where I have roughly CAD 2,000. On the other note, the mentioned bank account which is recently opened is also under my name.

Could you kindly explain further on what you mean by Gift Deed? And also since the money was given in cash, showing my bank statement would not prove any large transactions during this time. Hence would it be necessary for my bank statement to be submitted?

Thanks Stanlee.
Gina

If the savings account and checking account you are referring to does not have enough balance, then there is no need to mention it. In fact, it would have been better if the amount was transferred to the existing saving account.

For Gift Deed, you can refer to this link http://www.canadavisa.com/canada-immigration-discussion-board/gift-money-declaration-from-father-to-son-outline-t347593.0.html

 

[Smile24x7]

Regarding to what you mentioned about existing saving and checking accounts, my bank issued the bank letter where it clearly states the existing amount and opened date for each account. By what you mean, if I combine the saving account together then there would not be a need to explain the source?

I'd like to confirm the following:

1) for Gift deed: I'll make a gift deed between me and my Mom showing her consent in giving me the funds. Do I need to also prove anything else besides that? like my Mom's bank statement?

2) for Letter of Explanation: which is to explain the underlying reason for the large amount I received from my Mom by cash?

Thanks very much Stanlee Smiley

Gina

 

[Stanlee]

Thanks Stanlee.

Regarding to what you mentioned about existing saving and checking accounts, my bank issued the bank letter where it clearly states the existing amount and opened date for each account. By what you mean, if I combine the saving account together then there would not be a need to explain the source? - What I meant was, there was no need to open a new savings account for the large deposit that you received, you could have got it in your existing savings account.

I'd like to confirm the following:

1) for Gift deed: I'll make a gift deed between me and my Mom showing her consent in giving me the funds. Do I need to also prove anything else besides that? like my Mom's bank statement? - You can mention her bank account number, date of transfer, amount and transaction reference number. Also, you can show her bank statements which shows the transfer on the said date to your account.

2) for Letter of Explanation: which is to explain the underlying reason for the large amount I received from my Mom by cash? - Yes

Thanks very much Stanlee

Gina

 

[Smile24x7]

Hi Stanlee,

I think we are having a little miscommunication here. The point is my Mom gave me CAD 15,000 in cash so there would not be any evidence showing the transfer from her account.

The only thing I have now is the bank letter issued from my bank listing all my available accounts including checking and saving accounts and its opened date.

So which is your approach toward this case if it has been you situation ?

Thanks very much.
Gina

 

[Stanlee]

Hi Stanlee,

I think we are having a little miscommunication here. The point is my Mom gave me CAD 15,000 in cash so there would not be any evidence showing the transfer from her account.

The only thing I have now is the bank letter issued from my bank listing all my available accounts including checking and saving accounts and its opened date.

So which is your approach toward this case if it has been you situation ?

Thanks very much.
Gina

Oh ok, got it

Cash in hand is OK, but it should be backed by documentary evidence, so that the case officer is convinced that you have liquid cash that is readily transferable. The case officer will not go by word of mouth, it has to be certified by a third party that you have cash. The best way to have evidence for the same is to deposit in your account and get the bank statement. But when you deposit in your account, you will have to explain the inflow of large sum of money so that it does not like loan/borrowed funds. Either way, you will need the Gift Deed from your mom, where she states that she has gifted the money to you (cash) and the same has been credited to your account.

 

[Smile24x7]

Thanks very much Stanlee.