Financial statement

[EFK]

I guess we will wait and watch.. we have seen a fair amount of changes already this year, from the beginning of EE, to validity of Police certificates, an increase in minimum funds required if I remember correctly earlier in the year, removal of "Continuous" for CEC applications and increase of citizenship requirements to 4 years...(did I miss any other changes so far in 2015?)
so we can be ready for anything... you never know...though I hope they don't implement this anytime soon if they genuinely want to target that group...

Just a quick question...if the bank will be providing me with the certificate of balance stating that "Balance on specific date is XXX", I am requesting them to convert the final sum into CAD as well..and also asking if they can atleast put 2-3 different random dates spread over the past 6 months, but not sure if they will do it...especially not multiple dates..
So with regards to date, should I just put it as per the date I apply for it? Logically I'm not sure what else to put.. So suppose I apply the day I get ITA, can I just say give me the certificate as per this date?

thanks

 

[EFK]

Can I have your point of view on the above? Thanks

That sounds perfect... if you got ITA on 17th July... you have shown funds Jan to June and Jan to end July.. not sure what other time period you can use??

 

[Asivad Anac]

Can I have your point of view on the above? Thanks

The checklist applies as on the date you submit your documents post ITA. Count back 6 months from that date and you are on track.

 

[EFK]

^^ So based on the above, his Jan to July should be valid for sure (depending on exact date of submission)

 

[gur1122]

That's the the only reasonable option I have.

Hi Se7en,

I have question regarding the financial statements and wonder if you can help in this regard. One of my Banks gave me a bank letter as per CIC requirements, however they did not mention about my Credit Card information on the letter (it just includes my checking/savings account etc. info). However, in addition to letter, they did provide me separate sheet of my account which does have the credit card information, that sheet is being provided same day and stamped. Do you think I need to get new letter with Credit Card information included, or I can get away with by just providing both the letter and the profile sheet (which clearly states my Credit card info and the balance)?? thanks so much!

 

[Sunnyvaswani]

Sorry to interrupt guys !!

i am little confused on landing funds that is around 12000 CAD and average bank balance of last six months, ?? do we have to prove average balance of last six months as 12000 CAD ??

 

[Asivad Anac]

Sorry to interrupt guys !!

i am little confused on landing funds that is around 12000 CAD and average bank balance of last six months, ?? do we have to prove average balance of last six months as 12000 CAD ??

Yes. At least 11,931 CAD for a single applicant.

 

[hossamo33]

Sorry to interrupt guys !!

i am little confused on landing funds that is around 12000 CAD and average bank balance of last six months, ?? do we have to prove average balance of last six months as 12000 CAD ??

No, your average balance does not have to be 12000 CAD. Your current balance that will be used for your POF has to be 12000 CAD. The average balance should be around that figure, just to show that you have not borrowed any funds. If you have any mysterious large deposits, then you will have to explain the source of this deposit.

 

[Salseiro]

Just remember you need to show the same amount when you land in Canada after PPR.

Is this so? Where does it say that? Wouldn't it be more logical if you showed the amount that you had vowed to bring to Canada when filling out the forms and not the exact sum quoted in your bank statements? Or, what sounds even more reasonable, you should only be obligated to bring in the minimum requisite amount prescribed by CIC. And how are immigration officers expected to check how many funds one has when entering Canada? Are you supposed to print out your current balance account? Could you advise please?

 

[rajkamalmohanram]

Is this so? Where does it say that? Wouldn't it be more logical if you showed the amount that you had vowed to bring to Canada when filling out the forms and not the exact sum quoted in your bank statements? Or, what sounds even more reasonable, you should only be obligated to bring in the minimum requisite amount prescribed by CIC. And how are immigration officers expected to check how many funds one has when entering Canada? Are you supposed to print out your current balance account? Could you advise please?

You can bring more if you want to. All money that you bring in when you are landing for the first time is exempt from tax but if you bring more than $10,000, you must declare that.

Having said that, when you land, you must have funds that are greater than OR equal to the minimum required funds ; Exact sum painfully ridiculous.

 

[Salseiro]

Having said that, when you land, you must have funds that are greater than OR equal to the minimum required funds ; Exact sum sounds funny.

That's the way I think too. You should either bring in the minimum requested amount or the sum that you said you would take with you to Canada when filling out your application (to be honest, I no longer remember whether this question was part of the actual application or preliminary evaluation).

 

[rajkamalmohanram]

That's the way I think too. You should either bring in the minimum requested amount or the sum that you said you would take with you to Canada when filling out your application (to be honest, I no longer remember whether this question was part of the actual application or preliminary evaluation).

You will be asked this during preliminary evaluation. "How much funds are you planning to bring to Canada?".

 

[Salseiro]

You will be asked this during preliminary evaluation. "How much funds are you planning to bring to Canada?".

Yeah, that's what I thought. So, basically, you are only required to bring as much money as set under the minimum requirements for whatever number of people coming with you.

 

[sraj07]

This POF will be main cause for us failing in medicals due to High BP .

 

[sraj07]

Here is the summary of my pof . My family size is 3 and hence my minimum pof is approx 18300 cad for CIC

My 6 month average is 18000 cad and my bank balance is 22500 cad.

This is because of the following reason

1)I had my lowest balance in Apr (which is the 1 st month of the last 6 month time frame) - 12700 cad
2) Sudden shoot up in bank balance in June - because of my bonus of 2250 cad . (i can show the proof of this , have the bonus letter from my company)

My questions are :-
-----------------------
1)The numbers above clearly show that I donot have the minimum funds maintained completely for last 6 months - I have the required funds built from my savings in last 6 months . is this a risk leading to rejection ?

2)I have transferred - 4 times money to India from my USA acct in this last 6 months - each time 1320 cad .Will CIC ask why I transferred the money to India ? I have my housing loan running there . But the loan is from my India account and not through my USA acct (The one which I am going to show to CIC). It will just show a foreign money exchange transaction in my USA acct bank statement .

3)Every month of course like others I have my CC being paid from this account ..But CC is for daily living expenses . I get my salary , I spend through my CC , and at end of billing cycle , I pay the CC balance . Will CIC question that ? .

Conclusion :
-----------------
So basically all my POF is in my salary account(One big account) . The funds for CIC is built over months only through my salary and NOT THRU gift or loan . - Credit transactions are only my salary and bonus and I can show proof of every single credit transactions.

My Only fear is

a) will they ask Why I transferred money to India 4 times ?
b) POF is not maintained for all 6months ... It is built over 6 months .