+1(514) 937-9445 or Toll-free (Canada & US) +1 (888) 947-9445
Client Portal

Lower funds due to currency fluctuation

S

savio1

Full Member
May 12, 2018
43
0
Hi guys,

I have got my ITA and now I need to show the proof of funds from the bank. Now I had mentioned that I would bring $13600 to canada as funds, but now due to the INR currency increase, when I convert my balance from INR to CAD it comes upto 13400 or so.

Is this ok submit? showing little lesser than I stated?. My salary will come at the end of the month so the balance will go higher. But I have to submit my ITA before that as per the deadline

Please advice
 
savio1 said:
Hi guys,

I have got my ITA and now I need to show the proof of funds from the bank. Now I had mentioned that I would bring $13600 to canada as funds, but now due to the INR currency increase, when I convert my balance from INR to CAD it comes upto 13400 or so.

Is this ok submit? showing little lesser than I stated?. My salary will come at the end of the month so the balance will go higher. But I have to submit my ITA before that as per the deadline

Please advice
Click to expand...
Hi
it should be okay, but make sure it meets the fund limit based on your family size.
 
savio1 said:
Hi guys,

I have got my ITA and now I need to show the proof of funds from the bank. Now I had mentioned that I would bring $13600 to canada as funds, but now due to the INR currency increase, when I convert my balance from INR to CAD it comes upto 13400 or so.

Is this ok submit? showing little lesser than I stated?. My salary will come at the end of the month so the balance will go higher. But I have to submit my ITA before that as per the deadline

Please advice
Click to expand...
Do not do that.
If you have an ITA, then better wait for your salary and then get a Bank Certificate and then file your PR.

else, get money from someone and apply now.
 
mr.preetsingh said:
Do not do that.
If you have an ITA, then better wait for your salary and then get a Bank Certificate and then file your PR.

else, get money from someone and apply now.
Click to expand...

Actually, as long as you meet the required minimum funds, you are fine to go ahead and submit your application. All CIC cares about is that you meet the minimum required amount in valid methods.

Getting money from someone else without a gift dead would be considered a loan and can cause problems from you if CIC suspects the funds you claimed are not your own.
 
savio1 said:
Hi guys,

I have got my ITA and now I need to show the proof of funds from the bank. Now I had mentioned that I would bring $13600 to canada as funds, but now due to the INR currency increase, when I convert my balance from INR to CAD it comes upto 13400 or so.

Is this ok submit? showing little lesser than I stated?. My salary will come at the end of the month so the balance will go higher. But I have to submit my ITA before that as per the deadline

Please advice
Click to expand...
If you are a single applicant, go ahead with this. As long as your have the minimum required funds in your bank account, it does not matter how much money you said you will bring and how much you show. Just satisfy the minimum amount required criteria.
 
  • Like
Reactions: maitredufoot
Maverick28 said:
So why ask them to borrow the money if they already have more than enough funds?
Click to expand...
He has enough, but he had a doubt on having money lesser than he had mentioned in EE.

Tell me one thing, What's wrong in borrowing 200 CAD?
 
Maverick28 said:
If you are a single applicant, go ahead with this. As long as your have the minimum required funds in your bank account, it does not matter how much money you said you will bring and how much you show. Just satisfy the minimum amount required criteria.
Click to expand...

ok, do you know anyone who has faced a similar situation? because the difference keeps fluctuating between 200-250CAD due to currency rates. I don't want to jeopardize my application because of a small amount.
 
savio1 said:
ok, do you know anyone who has faced a similar situation? because the difference keeps fluctuating between 200-250CAD due to currency rates. I don't want to jeopardize my application because of a small amount.
Click to expand...
I repeat, as long as your funds are more than the required funds as per the family size, it does not matter.
 
savio1 said:
ok, do you know anyone who has faced a similar situation? because the difference keeps fluctuating between 200-250CAD due to currency rates. I don't want to jeopardize my application because of a small amount.
Click to expand...
Please add more funds. I know someone who got rejected after his POF was slightly lesser due to currency value fluctuation.
 
mejaz said:
Please add more funds. I know someone who got rejected after his POF was slightly lesser due to currency value fluctuation.
Click to expand...
Ok - here in my case the POF is above the Min required for 1 person, but LOWER that what I had mentioned I would bring (13500). Is it still advisable to wait?
 
Last edited:
savio1 said:
Ok - here in my case the POF is above the Min required for 1 person, but LOWER that what I had mentioned I would bring (13500). Is it still advisable to wait?
Click to expand...
It does not matter what you mentioned in your application. All you need is 12,475 CAD. Exchange rate will keep fluctuating.( You just can't keep on adding funds).
 
vaishnavi said:
It does not matter what you mentioned in your application. All you need is 12,475 CAD. Exchange rate will keep fluctuating.( You just can't keep on adding funds).
Click to expand...
Thats a pretty stupid thing to say. Wouldn't you rather add money and be on the safe side? Plus they are not gonna let you in if you don't have the minimum fund required in CAD.
 
You must log in or register to reply here.