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Proof of funds - exchange rate drop after application

W

WowOmgSuchVisa

Full Member
Dec 12, 2016
26
2
Hi all,

I have a question about proof of funds. I submitted my bank accounts in foreign currency. But due to fluctuations, the exchange rate into CAD may rise so much that my funds in CAD might drop under what's required by the CIC. What happens in this case?

I received most of the funds required as gift from my mother ( with gift deed ) and she's well off so she can give me more but Im not sure if I could (or should) change my proof of funds documents after AOR.

Im at the medical passed stage. Thanks for replies.
 
It is recommended to show more money than the money required for POF as this will save you from any such currency exchange rate fluctuations. Better to deposit some more money in your account now.
 
Thanks for the replies. Question is can I change the bank statement I submitted after I have already submitted application and received AOR?
 
WowOmgSuchVisa said:
Thanks for the replies. Question is can I change the bank statement I submitted after I have already submitted application and received AOR?
Click to expand...
I think you can raise a CSE and send your new bank statements to IRCC.
 
I had the same problem, but on the province nomination.....they asked me to show proof of funds again.....however, I don't reccomend you to risk and wait for them to send you request to confirm the proof of funds, because if the sum of money is less than required it means you don't meet the program requrements....as an option maybe it would be better to create a new account in more stable currency and notify them about that change(by raising a CSE)....or....You can also write an explanation letter about why the sum has become less than it is requred (if it is drop under the required level) and collect money, put them on your account and take another bank statement to show them that you have sufficient amount of money. Any way to send them something you should wait until this problem raises....until that you are in safe.
 
WowOmgSuchVisa said:
Hi all,

I have a question about proof of funds. I submitted my bank accounts in foreign currency. But due to fluctuations, the exchange rate into CAD may rise so much that my funds in CAD might drop under what's required by the CIC. What happens in this case?

I received most of the funds required as gift from my mother ( with gift deed ) and she's well off so she can give me more but Im not sure if I could (or should) change my proof of funds documents after AOR.

Im at the medical passed stage. Thanks for replies.
Click to expand...


Hi ,

Did you get PPR and also did they ask any ADR regarding the POF.
 
WowOmgSuchVisa said:
Hi all,

I have a question about proof of funds. I submitted my bank accounts in foreign currency. But due to fluctuations, the exchange rate into CAD may rise so much that my funds in CAD might drop under what's required by the CIC. What happens in this case?

I received most of the funds required as gift from my mother ( with gift deed ) and she's well off so she can give me more but Im not sure if I could (or should) change my proof of funds documents after AOR.

Im at the medical passed stage. Thanks for replies.
Click to expand...
Were you asked to submit updated POF? You got the PR?
 
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