Financial Documents - 6 month requirement

[albak]

Quick question on the 6-month financial statement requirement. I know this is very likely to have been discussed before but all the threads I found were very old, so just reasking this to be sure.

1. Should the required funds have been maintained in our bank account for at least 6 months? CIC website doesn't say anything like that but those with experience, please confirm.

2. On a related note, we are saving every paycheck for our move and are likely to have gathered the required funds on the last month or the month before. So the statements will show a steady increase. Will we still need an affidavit explaining that since it's not one large deposit rather a steady saving over a period of 3-4 months?

3. Do we need to submit our credit card information along with the financial statement? My banking institution (checking, savings account) is different from my credit card institution. Should I get a letter from the credit card institution as well saying that there is no pending balance?

Any help is appreciated!

 

[superspecial90]

1. No, it doesn't necessarily have to be maintained for 6 months. As long as the fund 'belongs' to you, it will be fine. For example, if you deposit the sum in your savings account and submit a statement, it will suffice.

2. No, you do not need to send an affidavit. Simply submit a statement.

3. No, you do not need to submit a statement for your credit cards. Just one statement with the funds.

Also, by the time CIC goes through your financial statement, it will be a few months already. So, do not worry about the maturity of the fund.

Hope this helps.

 

[Rayyy]

Quick question on the 6-month financial statement requirement. I know this is very likely to have been discussed before but all the threads I found were very old, so just reasking this to be sure.

1. Should the required funds have been maintained in our bank account for at least 6 months? CIC website doesn't say anything like that but those with experience, please confirm.

The real reason why they wanna see at least 6 months of bank statements is to confirm that you've always had the money in your bank account and its not something overnight (to guarantee the money is yours and not borrowed for immigration purposes). Yes.

2. On a related note, we are saving every paycheck for our move and are likely to have gathered the required funds on the last month or the month before. So the statements will show a steady increase. Will we still need an affidavit explaining that since it's not one large deposit rather a steady saving over a period of 3-4 months?

Not really needed, as I mentioned above, the government wants to confirm that your money is not borrowed. So, for example, if you can show them that your income is steady and maintains in the range required you are fine. Affidavit is needed if your father gives you a sum of money to deposit, therefore you need him to write and sign a letter.

3. Do we need to submit our credit card information along with the financial statement? My banking institution (checking, savings account) is different from my credit card institution. Should I get a letter from the credit card institution as well saying that there is no pending balance?

Yes, if you can provide that its better. Its better to play safe in my opinion, so do provide that you do not OWE money. From my understanding, the government wants to make sure you have the money available to you once you land in Canada.


Any help is appreciated!