Letter from the bank , Proof of funds

[Funkdakarma]

Great question, and thanks to all for the information.

Is just this letter necessary as a proof of funds, or have some people also included bank statements? If so, for what duration?

Is the letter considered sufficient proof? Do the amounts have to be converted to CAD in the letter, or kept in local currency?

Thanks!

 

[Marty_]

Great question, and thanks to all for the information.

Is just this letter necessary as a proof of funds, or have some people also included bank statements? If so, for what duration?

Is the letter considered sufficient proof? Do the amounts have to be converted to CAD in the letter, or kept in local currency?

Thanks!

Some banks don't provide the CAD value. That is ok. You can mention the summary of funds held, local currency value and CAD value (prevailing exchange rate as on date of bank letter) in your LOE.

 

[Funkdakarma]

Some banks don't provide the CAD value. That is ok. You can mention the summary of funds held, local currency value and CAD value (prevailing exchange rate as on date of bank letter) in your LOE.

Thanks a lot! Would you also include the bank statements in the proof of funds section?

 

[vnykvjyn]

Hi.
In my case I received an ITA on the 13th April 2017 and my dad gfted my INR 6,00,000 in my account. I intend to show htis as a gift deed.
Whats the procedure in acquiring a gift deed. Alternatively, will a attested (from a gazetted notary) letter from my dad do good in this case, along with my LOE

 

[manali_pandit]

Hi All

This forum has helped a lot in answering most of my doubts!!
I have a query.
I have a joint account of me and my mother (me as the first applicant). I want to transfer the funds from this account to me and my husband's joint account (with husband as the first applicant) to show the total amount of $15,143 for both of us. Both the accounts are in the same bank. Do I need to provide gift deed or any other supporting document for this transfer?

Note: I am the principal applicant.
Thanks!!

 

[Marty_]

Hi All

This forum has helped a lot in answering most of my doubts!!
I have a query.
I have a joint account of me and my mother (me as the first applicant). I want to transfer the funds from this account to me and my husband's joint account (with husband as the first applicant) to show the total amount of $15,143 for both of us. Both the accounts are in the same bank. Do I need to provide gift deed or any other supporting document for this transfer?

Note: I am the principal applicant.
Thanks!!

I feel a gift deed would make things easier. Because if you transfer these funds then you will need to show the proof of source of these funds (bank statements, FD en-cashed, investments redeemed,etc)
On the other hand, since you are the primary account holder and if the funds are older than 6 months, then you can get a bank letter (as per format) stating the amount held in this account and that it belongs to you.