joint account proof of funds

[Eksler]

Hello,

Can't find official information of what is considered to be acceptable proof of funds? I have a joint account with my wife where we keep our money, receive our salaries etc. Is it allowed to show such joint account?

 

[Lammawitch]

Yes. You may need to include a declaration from your wife.

 

[Eksler]

Yes. You may need to include a declaration from your wife.

How do you know that, as I can't find any information about declaration or joint accounts.

 

[Asivad Anac]

How do you know that, as I can't find any information about declaration or joint accounts.

CIC explicitly asks for POF from PA alone. If there is a joint account, it is prudent to upload a signed self-declaration from the spouse that explicitly states that they have no reservations in you utilizing those funds as POF.

 

[Lammawitch]

CIC explicitly asks for POF from PA alone. If there is a joint account, it is prudent to upload a signed self-declaration from the spouse that explicitly states that they have no reservations in you utilizing those funds as POF.

+1 and thank you.

 

[Eksler]

CIC explicitly asks for POF from PA alone. If there is a joint account, it is prudent to upload a signed self-declaration from the spouse that explicitly states that they have no reservations in you utilizing those funds as POF.

Even if spouse is accompanying principal applicant? Probably it will be easier if I transfer that amount to my sole account and upload both accounts as a proof of money source? What do you think?

 

[Asivad Anac]

Even if spouse is accompanying principal applicant? Probably it will be easier if I transfer that amount to my sole account and upload both accounts as a proof of money source? What do you think?

Yes. Probably CIC doesn't share the unshakable belief in holy matrimony. The point being that the PA has to survive in Canada and possibly support a family as well and the spouse's funds might be available today but not in a month's time.

 

[Lammawitch]

Even if spouse is accompanying principal applicant? Probably it will be easier if I transfer that amount to my sole account and upload both accounts as a proof of money source? What do you think?

The easiest solution is to provide POF using joint account & self-declaration from your spouse. Is there some reason why you think she will not provide this?

 

[Eksler]

Yes. Probably CIC doesn't share the unshakable belief in holy matrimony. The point being that the PA has to survive in Canada and possibly support a family as well and the spouse's funds might be available today but not in a month's time.

How do you think what documents would be preferable: POF from joint account together with my wife's declaration or POF from my sole account that I rarely use with the money transfer from joint account 2-3 week prior to application?
Anyway I'll enclose both statements as we have accounts in one bank, so everything could be seen.

 

[Asivad Anac]

How do you think what documents would be preferable: POF from joint account together with my wife's declaration or POF from my sole account that I rarely use with the money transfer from joint account 2-3 week prior to application?
Anyway I'll enclose both statements as we have accounts in one bank, so everything could be seen.

Provide what CIC requires - Funds available exclusively to the PA and NOT borrowed/encumbered. Period.

 

[Eksler]

The easiest solution is to provide POF using joint account & self-declaration from your spouse. Is there some reason why you think she will not provide this?

Haven't seen any information that CIC requires or accepts any kinds of declarations. Could you please post the link, if you have

 

[Eksler]

Provide what CIC requires - Funds available exclusively to the PA and NOT borrowed/encumbered. Period.

Can the money be considered to be borrowed if I transfer them from one of my accounts(that I share with wife) to another(that I neither share nor use for my everyday needs)? All the accounts are within one financial institution.

By the way, where it says Exclusively?

 

[Asivad Anac]

Haven't seen any information that CIC requires or accepts any kinds of declarations. Could you please post the link, if you have

CIC explicitly allows you to upload an LOE (Letter of Explanation). This is a valid workaround in the same vein.

 

[Asivad Anac]

Can the money be considered to be borrowed if I transfer them from one of my accounts(that I share with wife) to another(that I neither share nor use for my everyday needs)? All the accounts are within one financial institution.

That is viable because both accounts are yours. But it is prudent even in this case to get a letter from your spouse that they have no reservations against you transferring and utilizing funds from a joint account as POF.

By the way, where it says Exclusively?

Check under 'Proof of Funds' here ---> http://www.cic.gc.ca/english/resources/tools/perm/express/intake-complete.asp

 

[Eksler]

CIC explicitly allows you to upload an LOE (Letter of Explanation). This is a valid workaround in the same vein.

Declaration is a legal document while LOE is nothing more than just an average cover letter.