Proof of Funds (Express Entry)

[JordanaF]

Travel Money, travelers cheques can be cashed..so yes

You must however be able to show relevant info, such as purchase and balance etc.

Even if all my money is there?
I mean, they won't think it's weird?
Thank you!

 

[One_Topsy]

Even if all my money is there?
I mean, they won't think it's weird?
Thank you!

You need to show the source. Was it Salary? Show them proof.
If it is a gift, provide the evidence of transfer and a gift deed from the person that gave you.

They need to see that you did not borrow the money and it is readily available to you to bring to Canada.

Travel Money shows them the second part.

But you still need to show the money is yours and you did not borrow it

 

[barusahib2013]

Hello Vishalg,
Gratuity is accepted by CIC?
If Gratuity statement taken on Letterhead and stamp on it, will it be accepted?
Kindly suggest.
Thanks in advance.
[/quote
hi i wanted to know that have work experience of 5 years from 2010-2012 and thn from 2013-till date. this work is not in continuation . kindly suggest what to do. i should include my previous work or not

 

[vishalg]

Hello Vishalg,
Gratuity is accepted by CIC?
If Gratuity statement taken on Letterhead and stamp on it, will it be accepted?
Kindly suggest.
Thanks in advance.
[/quote
hi i wanted to know that have work experience of 5 years from 2010-2012 and thn from 2013-till date. this work is not in continuation . kindly suggest what to do. i should include my previous work or not

you can include it but make sure you have reference letters from the employers mentioning the required details.

 

[UnleashedFX]

Guys i need help please!!

I have had a savings account for years and I had the minimum requirement for a long time. But 5 months ago I left my old job and I used some of my savings. The amount dipped below the minimum required level over the course of the 5 months.

Is it possible for the difference to be gifted to me from my parents and to show a gift deed after I have been invited to apply? (the difference is CAD 3896)

Thank you for you help in advance!

 

[vishalg]

Guys i need help please!!

I have had a savings account for years and I had the minimum requirement for a long time. But 5 months ago I left my old job and I used some of my savings. The amount dipped below the minimum required level over the course of the 5 months.

Is it possible for the difference to be gifted to me from my parents and to show a gift deed after I have been invited to apply? (the difference is CAD 3896)

Thank you for you help in advance!

No problems with that

 

[UnleashedFX]

No problems with that

Thank you for the quick reply!

My lawyer says that it might be a problem if the amount is gifted after you have been invited to apply and that you must have the minimum amount in the account for the last 6 months. Is that true?

 

[vishalg]

Thank you for the quick reply!

My lawyer says that it might be a problem if the amount is gifted after you have been invited to apply and I got really scared!...

Minimum funds should be available at the time of submission and one should provide the source of funds for any significant credit in account. As long as you can prove the funds are yours and not borrowed there is no problem

 

[DelPiero07]

Thank you for the quick reply!

My lawyer says that it might be a problem if the amount is gifted after you have been invited to apply and that you must have the minimum amount in the account for the last 6 months. Is that true?

Your lawyer is useless - it is perfectly fine to get money gifted even after receiving an ITA.

 

[Didona84]

I am in a similar situation. I have been maintaining the LICO amount for over a year, and recently (two months ago) had to use some of the funds. Now I have around 5000 dollars lacking that I can replace, but don't know ıf ıt wıll be an issue for the process. I got NOI yesterday and am freaking out about what to do. If, for example, I sell my car and put the money ın the account, do I need to provide where the money came from? In this case, is it better to go with a gift deed (my family would probably gift me that money anyway)?

 

[DelPiero07]

I am in a similar situation. I have been maintaining the LICO amount for over a year, and recently (two months ago) had to use some of the funds. Now I have around 5000 dollars lacking that I can replace, but don't know ıf ıt wıll be an issue for the process. I got NOI yesterday and am freaking out about what to do. If, for example, I sell my car and put the money ın the account, do I need to provide where the money came from? In this case, is it better to go with a gift deed (my family would probably gift me that money anyway)?

Yes, you would have to provide proof as to where that money is coming from (if selling your car).

 

[UnleashedFX]

Your lawyer is useless - it is perfectly fine to get money gifted even after receiving an ITA.

Thank you DelPiero07! and vishalg! +1 to both of you.

You have no idea how calm that made me feel. I was about to have a nervous breakdown...

To sum up, I can be given the amount of CAD 3900 as a gift (after receiving an ITA) and show a gift deed when submitting my application.

Thank you guys, I really appreciate it!

 

[kryt0n]

can anyone confirm when the proof of funds is checked? Is it checked at the initial eligibility stage (usually within a month?)

 

[vishalg]

can anyone confirm when the proof of funds is checked? Is it checked at the initial eligibility stage (usually within a month?)

no one has confirmed it yet but initially the document completion is checked then I guess they move on to verification of various documents including POF. Putting a timeline to it would not be easy as it is different for each individual.
Someone who has ordered GCMS can give an idea here.

 

[olipearce1987]

what I want to know is, if I only declare my savings accounts with all the funds and not my other bank accounts, will this raise questions from the agent, e.g. where does his salary go etc?