OINP - Proof of funds

[aish89]

Hi All,

I have just received PT from Ontario. I have a question about proof of funds.

I don't have 12000 in my bank account to demonstrate prove of funds. I just started my job in Ontario last month and I have very good annual pay. So can I prove my funds only through my income in ontario or I have to show my bank account also which doesn't have enough money

Please reply asap

 

[JoacRy]

Hi All,

I have just received PT from Ontario. I have a question about proof of funds.

I don't have 12000 in my bank account to demonstrate prove of funds. I just started my job in Ontario last month and I have very good annual pay. So can I prove my funds only through my income in ontario or I have to show my bank account also which doesn't have enough money

Please reply asap

Unfortunately, you would be ideally required to show the following:

1) Letter from the bank confirming that you have title to the bank account(s), the date the accounts were opened, confirmation of the balance in the accounts (must be on letterhead and signed by the bank manager)

2) Statements showing balance in the accounts.

they will not accept a letter stating that overtime you could potentially accumulate the $12,000 CAD

 

[aish89]

thnx but if you read their guide they have given following options

Bank account in Canada
If you have a personal bank account in Canada, provide copies of bank statements for the six months prior to the submission of the application to OINP. The bank statements must:
 Demonstrate a personal account standing/final balance that meets or exceeds the LICO; AND
 Include your name.

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.

Income in Ontario
If you demonstrate ongoing employment income to satisfy the settlement funds requirement, submit supporting documents as evidence of ongoing employment in Ontario or a valid job offer in Ontario (note that you must be able to legally work in Ontario). See Section 3.1 for required documents.

 

[JoacRy]

thnx but if you read their guide they have given following options

Bank account in Canada
If you have a personal bank account in Canada, provide copies of bank statements for the six months prior to the submission of the application to OINP. The bank statements must:
 Demonstrate a personal account standing/final balance that meets or exceeds the LICO; AND
 Include your name.

Income in Ontario
If you demonstrate ongoing employment income to satisfy the settlement funds requirement, submit supporting documents as evidence of ongoing employment in Ontario or a valid job offer in Ontario (note that you must be able to legally work in Ontario). See Section 3.1 for required documents.

Here are my thoughts from what you have written:

1) The balance must meet or exceed the LICO (from what you have said it does not meet or exceed the LICO)

2) You may be able to use your employment contract as evidence that you can satisfy the 'settlement funds requirement' due to your job in Ontario. On this point you may be able to build a convincing case for POF for your OINP application.

 

[nthuynh]

Hello everyone
Speaking of funds problem, I have 2 accounts, and I declared in my EE profile that my total funds are about 20 000$ for a family of 1 person (only myself)
However, when sending my application for OINP, for some reason I have difficulty in getting the original bank statements of 1 account. The other one is okay.
Thus the total funds of 1 account decrease to 13 000$-14 000$. It is still superior than the funds required for 1 person (12 164$) but will it be any negative effect on my application?

I wonder if now I can change the amount in my EE profile.
Or I will send them the bank statements of 2 accounts just to show the total amount, to prove that I didn't tell a lie, and write an explanation letter telling them to consider only 1 account of which the bank statements are original.
I need your precious opinion, please!