Proof of funds (Bank Certificates)

[EzzaRamy]

I have received an ITA and about to present the proof of funds. the thing is that I have a big chunk of my funds as a bank certificate. The bank certificate date started October 2019, and was renewed at October 2020, and will end at October 2021. The statement states that I have X amount of funds and that they are held by the bank. Is that a problem to submit as proof of funds? what I fear is that since they are held by the bank, IRCC might not consider that as a readily available funds. Would that cause a problem or is it fine as the certificate is in my name and the funds exist.
Please help me because I am running out of time and I have to submit my application before it expires.
would it be ok to submit my bank statement and the certificate? If I submitted both, they will cover the funds needed.

 

[WarHammer]

I have received an ITA and about to present the proof of funds. the thing is that I have a big chunk of my funds as a bank certificate. The bank certificate date started October 2019, and was renewed at October 2020, and will end at October 2021. The statement states that I have X amount of funds and that they are held by the bank. Is that a problem to submit as proof of funds? what I fear is that since they are held by the bank, IRCC might not consider that as a readily available funds. Would that cause a problem or is it fine as the certificate is in my name and the funds exist.
Please help me because I am running out of time and I have to submit my application before it expires.
would it be ok to submit my bank statement and the certificate? If I submitted both, they will cover the funds needed.

The certificate would most definitely be a problem as it would be rejected by IRCC. The requirements are stated clearly the the funds need to be liquid cash equivalent .. I.e. readily available.

 

[EzzaRamy]

Even if it is stated that the money will be released to me at October 2021? This means that the money is there, but I can't use it before October 2021.

 

[MapleSyrupPoutine]

You need to prove you can access the funds immediately and that they are available to you now. If they are locked away until October 2021 then you won’t be able to use them towards your proof of funds.