Hi guys, I have a question. When I'm showing proof of funds do I need to present more than the minimum amount that they request since I have to consider the fees and other expenses of the process? Or just show proof of the minimum amount they require? I have more than what they ask for to pay for the fees and everything, but the other expenses will be covered with my income from my current job and not with the amount stated on my savings account. In the letter of explanation I will show statements of my savings, chequing from two different banks and explain that the amount on my savings is to cover the minimum required plus express entry fees for me and my husband but that the other expenses (medicals and translations of documents) will be covered with our income. If someone can enlighten me with your experience I would be more than grateful. Thank you!!
Proof Funds
- Thread starter grapehair
- Start date
Senior Members Need Help!.
Proof of Funds:
My spouse and my child (one) will be accompanying me after receiving PR. Therefore In view to that I have saved around 18,850 (Round 19,000 CAD). Amount is in my account (under my name) since more then four months. The breakup of 19,000 CAD collection is as follows:
1. Last year Bonus: 5500 $ CAD
2. Saving at home (In the form of Cash): 7000 $ CAD
3. Remaining 6500 $ CAD saved from three month salary.
Queries:
1. Do I need to give any proof (gift deed/pay slips/etc) for any of the above money.
2. Since money is there for more then four (04) months do I need to give any bank statement.
3. Am i missing something. Please advice
Regards,
Proof of Funds:
My spouse and my child (one) will be accompanying me after receiving PR. Therefore In view to that I have saved around 18,850 (Round 19,000 CAD). Amount is in my account (under my name) since more then four months. The breakup of 19,000 CAD collection is as follows:
1. Last year Bonus: 5500 $ CAD
2. Saving at home (In the form of Cash): 7000 $ CAD
3. Remaining 6500 $ CAD saved from three month salary.
Queries:
1. Do I need to give any proof (gift deed/pay slips/etc) for any of the above money.
2. Since money is there for more then four (04) months do I need to give any bank statement.
3. Am i missing something. Please advice
Regards,
Hello Guys,
I am from India. Can i produce Provident Fund balance as my one of PoF. i dont have required balance in my bank. is it valid if i show my PF account balance and meet the required amount.
Please suggest.
I am from India. Can i produce Provident Fund balance as my one of PoF. i dont have required balance in my bank. is it valid if i show my PF account balance and meet the required amount.
Please suggest.
as far as I know, official bank statement should be provided.. hope others correct me if I m wrong
Senior Members Need Help!.
Proof of Funds:
My spouse and my child (one) will be accompanying me after receiving PR. Therefore In view to that I have saved around 18,850 (Round 19,000 CAD). Amount is in my account (under my name) since more then four months. The breakup of 19,000 CAD collection is as follows:
1. This year Bonus: 5500 $ CAD (Submitted in my account April 2017)
2. Saving at home (In the form of Cash): 7000 $ CAD (Submitted in Bank Account May 2017)
3. Remaining 6500 $ CAD got from friends / uncles (In the form of Cash). (Submitted in Bank Account May 2017)
Queries:
1. For point number # 1 I can show bank statement since its a bonus from company.
2. For points no 2 & 3 I have no clue how to cater it. Can you please advice me something.
Regards,
Proof of Funds:
My spouse and my child (one) will be accompanying me after receiving PR. Therefore In view to that I have saved around 18,850 (Round 19,000 CAD). Amount is in my account (under my name) since more then four months. The breakup of 19,000 CAD collection is as follows:
1. This year Bonus: 5500 $ CAD (Submitted in my account April 2017)
2. Saving at home (In the form of Cash): 7000 $ CAD (Submitted in Bank Account May 2017)
3. Remaining 6500 $ CAD got from friends / uncles (In the form of Cash). (Submitted in Bank Account May 2017)
Queries:
1. For point number # 1 I can show bank statement since its a bonus from company.
2. For points no 2 & 3 I have no clue how to cater it. Can you please advice me something.
Regards,
This thread seems to be old, but I have a question related and will really appreciate if someone can assist on it.
To show POF, I have funds from below sources :
1. Indian Demat account for me and my wife ( are these accepted proofs , if yes, then how to show them) ?
2. Indian bank account balance (FD and cash balance) I think this can be proved with statements and a ref letter from Bank which will attest it. Right?
3. My wife has cash balance in US Bank account ? Will this be accepted or is it mandate to show balance in my account ONLY because me being the primary applicant ?
4. Can I show my Indian PF account Statement from employer which shows total balance from last 4 years ? If Yes, how ?
Thank you
To show POF, I have funds from below sources :
1. Indian Demat account for me and my wife ( are these accepted proofs , if yes, then how to show them) ?
2. Indian bank account balance (FD and cash balance) I think this can be proved with statements and a ref letter from Bank which will attest it. Right?
3. My wife has cash balance in US Bank account ? Will this be accepted or is it mandate to show balance in my account ONLY because me being the primary applicant ?
4. Can I show my Indian PF account Statement from employer which shows total balance from last 4 years ? If Yes, how ?
Thank you
Hello All,
I living in the USA and I am in the process of submitting my documents. I had questions related to proof of funds. I have all the funds required per the Canada site in one single account. However, I have other checking accounts, a few credit cards and a mortgage.
Can I get a 6 month statement from the bank account where I have the funds for immigration or am I supposed to submit a statement from every single account?
Your inputs will be highly appreciated. Thank you.
I living in the USA and I am in the process of submitting my documents. I had questions related to proof of funds. I have all the funds required per the Canada site in one single account. However, I have other checking accounts, a few credit cards and a mortgage.
Can I get a 6 month statement from the bank account where I have the funds for immigration or am I supposed to submit a statement from every single account?
Your inputs will be highly appreciated. Thank you.
You are only expected to show the minimum required amount. Its better to add a little bit of margin just to be safe in case of dollar price fluctuation ( even though officially it should freeze at AOR so any rise in dollar price is not your fault, but safe is better than sorry). You are not expected to show money for other expenses like medicals/translations/application fee/tickets etc. Good luck
Just to add in case you wondered then how do they know you are not using the money that you showed in your POF, simple, they might check again when you land and you might be asked to show the same minimum amount again, so they dont care what you use to pay expenses till then.
Just the account where you have your funds. However, please make sure that your statements are not showing loan/cc payments, because if it does show then in my own opinion its best to disclose those loans. Some might disagree. My reason is that IRCC clearly states that when you submit a bank letter as pof it should include your debts. Since you are not able to get this letter and giving them statements instead, its in your best interest to show them you are not hiding anything. Thats the way i took, so its up to you.
Thats totally fine. Just attach a letter of explanation and evidence showing the sale of your property and you are good to go.
Hi All
Just had a couple of questions
1. If I had $25000 in savings and a car loan of $10000 (which I pay from salary), would CIC count the difference between the amounts i.e $15000 as my total funds. Even though I don't use the savings to pay for the loan.
2. My bank provided a statement just containing the average balance over last 12 months and current balance, no information about loans/credit cards liabilities. Should I include loan statements, credit card statements ?
Just had a couple of questions
1. If I had $25000 in savings and a car loan of $10000 (which I pay from salary), would CIC count the difference between the amounts i.e $15000 as my total funds. Even though I don't use the savings to pay for the loan.
2. My bank provided a statement just containing the average balance over last 12 months and current balance, no information about loans/credit cards liabilities. Should I include loan statements, credit card statements ?
Thank you so much for your response.
The account that I have for my proof of funds does not have any regular transactions like loan or expenses. I only use it to save money. If I were to use this account only, would that be ok?
Thanks again for all your help.