Is Currency conversion required to show Proof of FUND?

[mrkcse]

Hi All,
Currency of one of my Bank accounts is BDT and the other is Euro. So Bank statement will show amount in these currencies. Is it necessry to convert in equivalent Canadian Dollars to show as POF ? If required, how I can do that?

Any advise please ?

 

[saki]

Hi All,
Currency of one of my Bank accounts is BDT and the other is Euro. So Bank statement will show amount in these currencies. Is it necessry to convert in equivalent Canadian Dollars to show as POF ? If required, how I can do that?

Any advise please ?

Hi,

You can show funds in any currency and dont have to convert it to Canadian Dollars, all you need to do is check the current exchange rates and see how many canadians dollars you can for it and if its enough then its fine. CHC will check in the same way they will use the current exchange rate to get how many CAD you have. So to be on safe side have some more funds then the current exchange rates tell you as rates can go up and down.

CHeers
Saki

 

[mrkcse]

Hi,

You can show funds in any currency and dont have to convert it to Canadian Dollars, all you need to do is check the current exchange rates and see how many canadians dollars you can for it and if its enough then its fine. CHC will check in the same way they will use the current exchange rate to get how many CAD you have. So to be on safe side have some more funds then the current exchange rates tell you as rates can go up and down.

CHeers
Saki

Thanks Saki for the clarification..

 

[Inexperienced]

Hi Saki,

May I ask the following follow-up questions:

Do these funds need to be in the account for a period of time say 3 months, or just funds as of a particular day would be fine?
1)If we need to show that these funds need to be there for about 3 months, then we will need to submit proofs accordingly? I read in the forum that we should have the funds for 3 months
2) Since most of my savings are in fixed deposits, a bank statement may not be enough. I would need to get a statement from the bank. There kindly suggest a format for this letter that we can get from the bank.

Thank you,.\
regards,

 

[saki]

Hi Saki,

May I ask the following follow-up questions:

Do these funds need to be in the account for a period of time say 3 months, or just funds as of a particular day would be fine?
1)If we need to show that these funds need to be there for about 3 months, then we will need to submit proofs accordingly? I read in the forum that we should have the funds for 3 months
2) Since most of my savings are in fixed deposits, a bank statement may not be enough. I would need to get a statement from the bank. There kindly suggest a format for this letter that we can get from the bank.

Thank you,.\
regards,

Hi,


CHC has never mentioned that they need 3 months or 1 month bank statement but its is always recommended to show 3 months statement if you had funds for this time but if you have borrowed it or got it from sellling some of your assets then you can show only current balance statement from the bank which shows your name account number and account balance as of on that day and it will not show the transactions so people show that and CHC has accepted it BUT if visa officer has any doubts he might ask you again at the time of medicals to show the 3 months statement and if you didnt have that money for 3 months then you will need to give explanation that where you got these funds from like by selling car etc ( give proof of selling ) you will need to make visa officer assure that its your own money.

As you have fixed deposit you can show a letter from a bank stating that your money is in this FD account from this date and you wil be getting this much interest on it and then show the other account statement where your funds were before putting it into the fixed deposits so that visa officer know that this is actually your money and you have not just borrowed it and put it into the FD.

Cheers
Saki

 

[Inexperienced]

Thanks saki