Funds on the spouse's bank account

[valsanail]

Guys please advise me on the following issue.

I have received a letter of interest from Ontario and plan to apply for the nomination. I went through the application guide and came across the requirement concerning the funds, which states that funds should be on the main applicants bank account. My husband and I have been saving the funds on his account, which has been created over six months ago. So, initially I thought of converting the existing account into a joint account because some forum members had proposed it as a solution however, the bank refused to do it and in return advised my husband to authorize me in written form via them (bank) so I can have a full control over his bank account. Which in it's turn means that I will be able to submit that authorization letter to the province.

Guys do you think this will do? I don't want to create a new account in my name then transfer the money from my husbands account because it has been there for over 7 months and will cost some money, paperwork, and time! Some people also say that it won't be enough 'cause I will additionally need to draw it up as a money gift and then get it verified by a notary service.

Has any of you encountered this kind of situation? Please kindly share your experience or solutions.
Thank you.

 

[One_Topsy]

Guys please advise me on the following issue.

I have received a letter of interest from Ontario and plan to apply for the nomination. I went through the application guide and came across the requirement concerning the funds, which states that funds should be on the main applicants bank account. My husband and I have been saving the funds on his account, which has been created over six months ago. So, initially I thought of converting the existing account into a joint account because some forum members had proposed it as a solution however, the bank refused to do it and in return advised my husband to authorize me in written form via them (bank) so I can have a full control over his bank account. Which in it's turn means that I will be able to submit that authorization letter to the province.

Guys do you think this will do? I don't want to create a new account in my name then transfer the money from my husbands account because it has been there for over 7 months and will cost some money, paperwork, and time! Some people also say that it won't be enough 'cause I will additionally need to draw it up as a money gift and then get it verified by a notary service.

Has any of you encountered this kind of situation? Please kindly share your experience or solutions.
Thank you.

All along I thought a bank account in an accompanying spouse's name is sufficient for POF.
I also checked the OINP application guide and it doesn't specifically say that it has to be in PA name.
A joint account would have been ideal, however, I believe what you have in your case will suffice. Submit the authorization letter along with the bank statements.

 

[valsanail]

All along I thought a bank account in an accompanying spouse's name is sufficient for POF.
I also checked the OINP application guide and it doesn't specifically say that it has to be in PA name.
A joint account would have been ideal, however, I believe what you have in your case will suffice. Submit the authorization letter along with the bank statements.

One_Topsy thank you very much for your response.

You are right the guide does not specifically contain 'principal applicant' expression. However it says the following:

Bank account outside of Canada
If you do not have a personal bank account in Canada, you must provide six months of original up-to-date bank statements from a recognized financial institution. The bank statements must:
- Demonstrate a personal account standing / final balance that meets or exceeds the LICO; AND
- Include the following details:
o Your name;
o Account number;
o Transit and institution number;
o Account balance; and
o Currency.

As you can see, there are expressions like 'personal account standing' or 'Your name' so, logically the guide is designated for the applicant not for those who accompany. My statement was based on this.
Do you know anybody who had applied in the way you described or it's a guess?

Thank you!

 

[One_Topsy]

One_Topsy thank you very much for your response.

You are right the guide does not specifically contain 'principal applicant' expression. However it says the following:

Bank account outside of Canada
If you do not have a personal bank account in Canada, you must provide six months of original up-to-date bank statements from a recognized financial institution. The bank statements must:
- Demonstrate a personal account standing / final balance that meets or exceeds the LICO; AND
- Include the following details:
o Your name;
o Account number;
o Transit and institution number;
o Account balance; and
o Currency.

As you can see, there are expressions like 'personal account standing' or 'Your name' so, logically the guide is designated for the applicant not for those who accompany. My statement was based on this.
Do you know anybody who had applied in the way you described or it's a guess?

Thank you!

No, I don't.
However, I would be surprised if Ontario would not accept your solution since your spouse is accompanying you (especially with your authorization letter)

 

[valsanail]

No, I don't.
However, I would be surprised if Ontario would not accept your solution since your spouse is accompanying you (especially with your authorization letter)

OK clear!
I also think that will suffice.

Thank you.

 

[jt_jason]

Be aware that,at CIC stage you need to provide the amount under your own account.
Do some more research on this.

 

[One_Topsy]

Be aware that,at CIC stage you need to provide the amount under your own account.
Do some more research on this.

Very true! So based on that I would suggest you see if the account can be joint going forward.

 

[valsanail]

Really,? I thought the CIC will even be more tolerant in this regard and will allow proving the funds by the spouse's account. Is there a way to approach them for a clarification or it is already stipulated in some guide?

I am afraid I have to repeat myself but withdrawing money from spouse's account or transferring it will result to the creation of a brand new bank account without no financial history behind. In this case how will the CIC perceive it? Do you think I should do it at this stage prior applying to OINP or afterwards? I am also suspicious about this authorization letter will they consider it as an alternative to the joint account?

Thanks.