Financial statement

[Anya654]

yes I did that. That's why I said I'm waiting to find out if it is acceptable so that I can warn other people to make alternative arrangements if CIC rejects it.

If you're providing e statements you better have them stamped by your bank. Someone on this forum provided e statements that weren't stamped and was rejected.

 

[Kellakella]

I have an issue with my proof of fund.

Currently I have enough money to cover the minimum but that's BEFORE paying the application fee.
Should I have enough money to cover the minimum + application fee in the account for the proof of fund?

I have a cheque saved for the application fee but not sure if I should deposit it now so it will show on the bank letter.
Since I don't want CIC to question why I have money transferred to my account just before submitting the file.

Also, Would using a bank letter from Mid June and bank statements from Jan-June be okay?
Or it has to be for August?

Please help!

 

[Kellakella]

There is no clear rule regarding this. I imagine you should be fine if you show your funds before paying the application fee, as long as it covers the minimum. Just remember you need to show the same amount when you land in Canada after PPR.

In any case, your financial profile must outline the six months prior to getting your ITA, so Jan - Jun would not qualify. You need to count backwards from August.

Thanks for your reply!
Would it be okay to put in the LOE that my dad will be paying for the fee or how I have extra money saved up for the fee?
Or is that just too much and unnecessary?

 

[Kellakella]

I haven't come across a case such as yours where the funds available only narrowly meet the requirement. But I have followed the rejections thread very closely, and as far as I know nobody was rejected for a case such as yours. That doesn't mean it can't happen, but I think it's rather unlikely.

It all depends on what you are most comfortable with. I probably wouldn't draw unnecessary attention to whoever is paying the fee by mentioning it in the LoE, but maybe you could get your dad to pay the fee anyways so that your funds will remain untouched? If CIC then have any questions while processing your application, you can show them you still have the same amount of money as before.

Lastly, you probably know this already, but you only need to pay the processing fee. The "right of permanent residence fee" can be paid once your application is approved.

I have saved a cheque for the processing fee.
Just not sure if I should deposit it to my account since I don't want extra money to be showing and then have them question where this is from.
The cheque is actually just my last cheque from my work (i was previously working in Canada with a post graduate work permit but it expired)
So I am scared that if i deposit the cheque, they will think i am still working there even though my permit has expired.
Hence I saved the cheque and was thinking of asking my boyfriend to pay for it then I pay him back by cashing the cheque.

 

[se7en]

dan_and, can you please advise in my situation?

Firstly, I am not sure If I should provide POF or not as my ITA is under PNP and before ITA I was eligible only for CEC.
Now, If I should provide POF then should it be a problem if I cumulatively show my POF by combing my joint account (with my spouse) having $10k and my spouse's separate account having $5k with an explanation letter that this is all we have as a family.
Our accounts are in the same bank. We both are in Canada on work permit (my spouse holds spousal work permit) and I am the principal applicant for PR.
Some other folks suggested to transfer the money from her personal account to the joint one to make it one $15k but to me it seems very artificial. It will make the visa officer think that the transfer is purely made for the bank statement.
Any thoughts?

 

[se7en]

I have saved a cheque for the processing fee.
Just not sure if I should deposit it to my account since I don't want extra money to be showing and then have them question where this is from.
The cheque is actually just my last cheque from my work (i was previously working in Canada with a post graduate work permit but it expired)
So I am scared that if i deposit the cheque, they will think i am still working there even though my permit has expired.
Hence I saved the cheque and was thinking of asking my boyfriend to pay for it then I pay him back by cashing the cheque.

If the cheque is for big monies say $2k or more then they can ask but I believe 1k or less shouldn't be a problem. You are overthinking.
You should keep a copy of your cheque and pay stub for your record and CIC just incase they ask you then you should provide this copy and pay stub and you can explain that it was the last cheque from your job.

 

[Kellakella]

If the cheque is for big monies say $2k or more then they can ask but I believe 1k or less shouldn't be a problem. You are overthinking.
You should keep a copy of your cheque and pay stub for your record and CIC just incase they ask you then you should provide this copy and pay stub and you can explain that it was the last cheque from your job.

The pay cheque is much less than 2K.
However, my dad just transferred money to me (a little less than 2k) - should I get him a write a letter to state this was a gift?
That's why I'm not sure if I should also deposit the cheque as well since then it'll look like i randomly got almost 3k before my application.

 

[se7en]

How much it would be total in your account If you deposit the cheque?

Assuming it would be $15k after you deposit the cheque and assuming you are a single applicant for which the required amount is $little less than $12k.

You can explain that one transaction is from your dad to pay for your application fee while the other one is from your old job cheque.
With this you should get a letter from your dad giving the same reason that this money I gave to my son/daughter for is his/her application.
To support your pay cheque you should attach your pay stub and copy of the cheque to prove it is coming from your work.

 

[se7en]

Caveat: I'm a single applicant and I didn't look into this in detail.

It seems reasonable to me that you would qualify with both accounts separately without actually transferring the money. I haven't seen a case of rejection so far where this was the cause, and I think it would be a very common occurrence because I'm sure many couples have done what you suggest.

The situation with PNP and PoF is intransparent to me. I used to think that the requirements for the individual PNP program would prevail. The way I read the PoF website, however, seems to suggest that everyone except CEC (or working in Canada with an LMIA) needs to have the funds.

Since you have the funds, I would just include the proof. Safest bet.

That's the the only reasonable option I have.

 

[Kellakella]

How much it would be total in your account If you deposit the cheque?

Assuming it would be $15k after you deposit the cheque and assuming you are a single applicant for which the required amount is $little less than $12k.

You can explain that one transaction is from your dad to pay for your application fee while the other one is from your old job cheque.
With this you should get a letter from your dad giving the same reason that this money I gave to my son/daughter for is his/her application.
To support your pay cheque you should attach your pay stub and copy of the cheque to prove it is coming from your work.

I can definitely get a letter from my dad stating that as the reason.
Will I have to show the exact same amount in my account (that was shown in the POF) once I receive my PPR or just more than the minimum for a single applicant?
I won't be touching the account but it will be 1k less since I have to pay for the application fee. (but still above minimum)

 

[se7en]

I can definitely get a letter from my dad stating that as the reason.
Will I have to show the exact same amount in my account (that was shown in the POF) once I receive my PPR or just more than the minimum for a single applicant?
I won't be touching the account but it will be 1k less since I have to pay for the application fee. (but still above minimum)

For single applicant this amount needs not to be less than $11,931.
Not sure if it will be ok with 1k less after you submit but I guess you should be ok.

 

[Kellakella]

For single applicant this amount needs not to be less than $11,931.
Not sure if it will be ok with 1k less after you submit but I guess you should be ok.

It won't be less than $11,931.
But if my POF says 15000 now, I might only have 14000 on arrival.
That's what i'm worried about.

 

[gupti]

Hi Guys just followed the thread progress with interest. it goes back to earlier points of concern that if you give them bank 6 months of statements then they effectively will se payments to credit cards etc which means you show your debt side without an opportunity to showcase physical assets.

So I guess my question is if you have the required cleared funds that they ask for but also have some credit card debt does that in their eyes leaves you net negative of the 15000 CAD and therfore reject you?

When they originally say have 15000 CAD it does not say that you have to be net 15000 CAD, which I would think most people in life would not be as they would have mortgages, student loans, credit cards, loans etc.

The other question is that as it says you need a letter from your bank, if you have a credit card from outside of your bank should you get a letter from them also?

I guess the ambiguity there is worrying me a bit so any clarity would be great.

 

[Asivad Anac]

Hi Guys just followed the thread progress with interest. it goes back to earlier points of concern that if you give them bank 6 months of statements then they effectively will se payments to credit cards etc which means you show your debt side without an opportunity to showcase physical assets.

So I guess my question is if you have the required cleared funds that they ask for but also have some credit card debt does that in their eyes leaves you net negative of the 15000 CAD and therfore reject you?

When they originally say have 15000 CAD it does not say that you have to be net 15000 CAD, which I would think most people in life would not be as they would have mortgages, student loans, credit cards, loans etc.

The other question is that as it says you need a letter from your bank, if you have a credit card from outside of your bank should you get a letter from them also?

I guess the ambiguity there is worrying me a bit so any clarity would be great.

Which is precisely why you need to find a way to showcase to CIC that you have the required funds and that they are not borrowed WITHOUT getting into the trouble of trying to explain every other liability that you may carry because you're not allowed to showcase the corresponding asset side of things.

POF is arguably the least important criteria under FSW and CEC but it is still an eligibility criteria. It deserves all the attention it gets on the forum - do not attempt to take it lightly. The onus is on you to conclusively prove to CIC that you have unfettered access to those funds and that they are not encumbered. Avoid complicating the situation by volunteering more information - you will then be required to provide more explanations not less.

 

[gupti]

Thanks. I have read their requirement over and over again and the only thing it really states is that the cleared funds cannot be from a loan or credit card. My funds are completely independent of debt and can prove that so that should be ok.

I think that if they gave a damn about anyone who carried some debt with them on the side then they wouldnt have that many people who would be eligible.

Its always good to spread the questions here and really like this site. Its a place to retreat to when you are stuck for the questions in the grey areas.

Thanks and will let you know how it goes.

Gup