proof of funds co-applicant

[happydays108]

hi pmm,

kindly advise if funds of co applicant (my wife) will be considered, and could added to my sum an as pof ?

regards

 

[DelPiero07]

Yes.

 

[IndianCanadian16]

hi pmm,

kindly advise if funds of co applicant (my wife) will be considered, and could added to my sum an as pof ?

regards

Yes. To be on a safe side, just write an additional letter to the visa officer, stating that your spouse has this certain amount of money in her account and from where it came.

If it is a GIC, you wont be asked for any other document except for her bank statement.

But it is some sudden money transfer, show it as a gift deed from your parents, and get an affidavit for it.

For more queries, you can PM me.

 

[md_uddin]

Yes. To be on a safe side, just write an additional letter to the visa officer, stating that your spouse has this certain amount of money in her account and from where it came.

If it is a GIC, you wont be asked for any other document except for her bank statement.

But it is some sudden money transfer, show it as a gift deed from your parents, and get an affidavit for it.

For more queries, you can PM me.

In this case, do i have to transfer the amount from her account & get satutory declaration from her OR provide her bank statement & statutory declaration, no need to transfer to my account? Btw, What does GIC?

 

[happydays108]

Does having less money (ie 2000 cd) in savings account make a difference than having maybe 10000 cd.

I have 2000 CD in bank account and rest pof' s i intent to show in fixed deposits or mutual funds.


Is it ok like this or better to have more in bank account

 

[ladanow]

According to the official website, there is nothing proves that Wife's fund could be accepted as POF for the main applicant.

I also called the CIC three times (Just to get the options from different customer service agent), and all of them said:
If the account is Joint, and I can proof that main applicant has access to the fund, it will be accepted.

I asked one of them If i have a delegation on the account, could you accept that, she said if the bank can provide you a letter shouwing your delegation and proves full access of the fund, the officer might accept it.


According to CIC website, there is important part in the POF letter requirements which is "include your name".
So if you just send the wife's bank account, there is high probability it could be rejected.


Letter(s) must:

• be printed on the financial institution’s letterhead
• include their contact information (address, telephone number and email address)
• include your name
• list outstanding debts such as credit card debts and loans
• include, for each current bank and investment account:
  • account numbers
  • the date each account was opened
  • the current balance of each account
  • the average balance for the past six months

• http://www.cic.gc.ca/english/immigrate/skilled/funds.asp

 

[md_uddin]

According to the official website, there is nothing proves that Wife's fund could be accepted as POF for the main applicant.

I also called the CIC three times (Just to get the options from different customer service agent), and all of them said:
If the account is Joint, and I can proof that main applicant has access to the fund, it will be accepted.

I asked one of them If i have a delegation on the account, could you accept that, she said if the bank can provide you a letter shouwing your delegation and proves full access of the fund, the officer might accept it.


According to CIC website, there is important part in the POF letter requirements which is "include your name".
So if you just send the wife's bank account, there is high probability it could be rejected.


Letter(s) must:

• be printed on the financial institution’s letterhead
• include their contact information (address, telephone number and email address)
• include your name
• list outstanding debts such as credit card debts and loans
• include, for each current bank and investment account:
  • account numbers
  • the date each account was opened
  • the current balance of each account
  • the average balance for the past six months

• http://www.cic.gc.ca/english/immigrate/skilled/funds.asp

You are right. In order to prove wife's money is fully accessible, the main applicant have 2 ways to do it:
1. if its a joint account, the bank letter will have both the account holders name, balance, details etc. In this case, wife has to write a statutory declaration or LOE explaining that the main applicant has the full access of her part of the fund, as joint account fund by law means half & half share.

2. If the fund is in the wife's account, transfer the fund in the main applicant's account and then get wife's statutory declaration stating that the money solely belongs to the main applicant to be used for any purpose and the main applicant in this case have to write a LOE explaining from where the sudden lump sum came into the account along with wife's bank statement.

Hope this serves everyone well.

 

[happydays108]

You are right. In order to prove wife's money is fully accessible, the main applicant have 2 ways to do it:
1. if its a joint account, the bank letter will have both the account holders name, balance, details etc. In this case, wife has to write a statutory declaration or LOE explaining that the main applicant has the full access of her part of the fund, as joint account fund by law means half & half share.

2. If the fund is in the wife's account, transfer the fund in the main applicant's account and then get wife's statutory declaration stating that the money solely belongs to the main applicant to be used for any purpose and the main applicant in this case have to write a LOE explaining from where the sudden lump sum came into the account along with wife's bank statement.

Hope this serves everyone well.

Hi

Thanks for sharing your experience. How to state 6 months average balance ( ie average for each month or average of six months) on financial institution's letter head.

 

[md_uddin]

Hi

Thanks for sharing your experience. How to state 6 months average balance ( ie average for each month or average of six months) on financial institution's letter head.

In few countries, esp asian countries, on request, the bank mentions average monthly balance. But countries like Australia, it is hard to get it. I am in australia, I am finding it hard to get the bank to write this for me on bank letter as the bank letter is auto generated and only provide the account holder name, date opened, balance, addresses, and available balance on bank letter head. I am trying to find a solution as well.

if anyone have a solution, please share

 

[ladanow]

Regarding the 6 months POF.

Let me share some experience (But you shouldn't depend on that)

I am following the EE application with many people, some of them just deposit the fund in their account two month only before submission and paying the fees. and they got approved !

Although that I don't know anyone who got rejected from Federal stage because of POF less than 6 months, but you should do your best to achieve every condition.

 

[DelPiero07]

Regarding the 6 months POF.

Let me share some experience (But you shouldn't depend on that)

I am following the EE application with many people, some of them just deposit the fund in their account two month only before submission and paying the fees. and they got approved !

Although that I don't know anyone who got rejected from Federal stage because of POF less than 6 months, but you should do your best to achieve every condition.

There is simply no rule that states that the funds must be in the account for 6 months. The average balance of the past 6 months is required to evaluate whether there are any suspicious lump sum amounts deposited to meet the required funds.

As long as the applicant can state and prove the source of the funds (salary, gift deed, sale of assets, liquidation of stocks, etc) the applicant won't have any issues.

 

[md_uddin]

Regarding the 6 months POF.

Let me share some experience (But you shouldn't depend on that)

I am following the EE application with many people, some of them just deposit the fund in their account two month only before submission and paying the fees. and they got approved !

Although that I don't know anyone who got rejected from Federal stage because of POF less than 6 months, but you should do your best to achieve every condition.

There is simply no rule that states that the funds must be in the account for 6 months. The average balance of the past 6 months is required to evaluate whether there are any suspicious lump sum amounts deposited to meet the required funds.

As long as the applicant can state and prove the source of the funds (salary, gift deed, sale of assets, liquidation of stocks, etc) the applicant won't have any issues.

You both are right. There are no hard rules for POF to be for 6 months. Its just if the applicant can prove that the source of POF and the money belongs solely to the applicant.