POF (Express Entry)

[BLUE100THN]

Hi guys,

This question is about proof of funds. I know it has been tackled in so many threads but I need some more clarity.

I am currently working in Canada as an engineer. Must I still show I have $12,000 to support myself here in Canada or does my current income suffice?

Any information will be greatly appreciated. Thanks!

 

[DelPiero07]

If you are not a CEC applicant or if you do not have a valid job offer then you must show POF.

 

[BLUE100THN]

Thanks for your speedy response DelPiero07. So as a CEC applicant with a valid job offer, providing an official letter issued by my financial institution indicating my financial profile will suffice right? Bearing in mind I do not have 12,000 saved up.

 

[DelPiero07]

You do not require a letter from your bank, a simple letter stating that you are a CEC applicant and thus, no POF are required is sufficient.

 

[BLUE100THN]

Thanks for your help. It is a bit confusing since in the document checklist section, the instructions for POF for Express Entry - Permanent Residents indicate you must provide an official letter from your financial institution.

 

[DelPiero07]

http://www.cic.gc.ca/english/helpcentre/answer.asp?qnum=1145&top=29

"Note: You do not have to meet the funds requirement if you were invited to apply under the Canadian Experience Class.

The system currently asks all applicants to provide a proof of funds document. If you don’t need to provide proof of funds, you must upload a letter explaining either that you have been invited to apply under the Canadian Experience Class, or that you have a valid job offer."

 

[BLUE100THN]

Perfect! Thanks.... much appreciated!

 

[Sabarish]

Hi Guys, I have my complete POF as FD that was opened 7 months ago.. Can I just submit FD covering letter & FB statement or is it mandatory to submit my bank statements as well

 

[UmairS]

Hello
I am a bit afraid of the following:

I submitted my 6 months bank statement for POF, and its first and last page are signed and stamped. 1st page shows opening balance which is around 6k dollars, and last page has closing balance which is 13k dollars. In between there was a gift I received from mother of 4.5k dollars, I have attached all gift deed and relevant documents. rest of the money is all my salary transfers into my account as shown in the pages b/w the 1st and last page. Should I still get these middle pages signed and stamped? and

 

[mravi06]

http://www.cic.gc.ca/english/helpcentre/answer.asp?qnum=1145&top=29

"Note: You do not have to meet the funds requirement if you were invited to apply under the Canadian Experience Class.

The system currently asks all applicants to provide a proof of funds document. If you don’t need to provide proof of funds, you must upload a letter explaining either that you have been invited to apply under the Canadian Experience Class, or that you have a valid job offer."

hi can you answer this

Hi Guys,

I am in a dilemma regarding how to show proof of funds for my application I have auto loan and a savings account and a checking account and IRA account from the same bank and the bank is providing the monthly statement which includes the monthly summary of all my accounts individual summary is not available as far as my understanding is it best to not show the auto-loan what should I do in this case? is it advisable to open a new FD account or to show my current accounts as it is?

 

[DelPiero07]

hi can you answer this

Hi Guys,

I am in a dilemma regarding how to show proof of funds for my application I have auto loan and a savings account and a checking account and IRA account from the same bank and the bank is providing the monthly statement which includes the monthly summary of all my accounts individual summary is not available as far as my understanding is it best to not show the auto-loan what should I do in this case? is it advisable to open a new FD account or to show my current accounts as it is?

Show the account as is.

 

[mravi06]

hi can you answer this

Hi Guys,

I am in a dilemma regarding how to show proof of funds for my application I have auto loan and a savings account and a checking account and IRA account from the same bank and the bank is providing the monthly statement which includes the monthly summary of all my accounts individual summary is not available as far as my understanding is it best to not show the auto-loan what should I do in this case? is it advisable to open a new FD account or to show my current accounts as it is?

Show the account as is.

Thanks for the reply so do I need to explain in LOE regarding the loan?

 

[layDB]

Hi guys,

I need clarification on this please.
I recently received ITA and I need to submit POF from 6 months ago, but my account didn't have much until beginning of March. Is this a problem?

 

[layDB]

Hi guys,

I need clarification on this please.
I recently received ITA and I need to submit POF from 6 months ago, but my account didn't have much until beginning of March. Is this a problem?

@legalfalcon, @DelPiero07

 

[Shubhdeep1994]

Hello guys,
Can anybody clarify if Fixed Deposit/ Any kind of deposit ( NSC/KVP/RD) with Post Office is acceptable as POF.
Thanks.