Proof of Funds (Express Entry)

[DelPiero07]

Yes the bank account is in my name, I will provide a bank letter but IRCC guidelines states that bank has to mention account balance and 6 months average right?

Thanks for your reply..

Correct, if the bank fails to provide this information (which is common) then you have to provide bank statements of the past 6 months.

 

[cec_21]

Correct, if the bank fails to provide this information (which is common) then you have to provide bank statements of the past 6 months.

Yo Homie giving you + 1 haha

If I ask my cousin/friend to transfer the money from his account, do i need his 6 months or 1 months statement or just that one day statement highlighting the transfer and attaching it along with LOE.. Or cheque option is better? Thank you

 

[UnleashedFX]

Guys I have some good news and more confusion... Please help!!!

So today I managed to secure employment with a company and I will be able to meet the minimum criteria by the end of the month (Month 1 of 3) prior to my application. Alternatively I can ask the employer to pay me the incentives for the project in advance and cover the minimum amount needed in my account fairly soon.

The person I hired to help me advised me to ask my parents to deposit the check as soon as tomorrow as the amount being in the account for a long time is more important than who provided you the money (he says no explanation is required since I have a job).

Now I am confused. Should I ask my parents to deposit the money to my account without explanation or wait a week and let my new company deposit the amount. Which is more important the duration the money is in the account or who provides you the money?

Thank you in advance!

 

[DelPiero07]

Yo Homie giving you + 1 haha

If I ask my cousin/friend to transfer the money from his account, do i need his 6 months or 1 months statement or just that one day statement highlighting the transfer and attaching it along with LOE.. Or cheque option is better? Thank you

Cheque or bank statement of the last month are sufficient.

Plus a letter stating that the money is a gift not a loan, obviously.

 

[DelPiero07]

Guys I have some good news and more confusion... Please help!!!

So today I managed to secure employment with a company and I will be able to meet the minimum criteria by the end of the month (Month 1 of 3) prior to my application. Alternatively I can ask the employer to pay me the incentives for the project in advance and cover the minimum amount needed in my account fairly soon.

The person I hired to help me advised me to ask my parents to deposit the check as soon as tomorrow as the amount being in the account for a long time is more important than who provided you the money (he says no explanation is required since I have a job).

Now I am confused. Should I ask my parents to deposit the money to my account without explanation or wait a week and let my new company deposit the amount. Which is more important the duration the money is in the account or who provides you the money?

Thank you in advance!

Either get a gift deed from or parents or cover the minimum required funds with your salary

Getting the money from your parents without explanation will raise red flags.

 

[UnleashedFX]

Either get a gift deed from or parents or cover the minimum required funds with your salary

Getting the money from your parents without explanation will raise red flags.

Thank you DelPiero07 +1 (whenever I am able to give you a +1 again due to the waiting period).

 

[One_Topsy]

Thank you DelPiero07 +1 (whenever I am able to give you a +1 again due to the waiting period).

Lol, i gave +1 on your behalf

 

[pankaj.chhabra]

I have 2 questions, let me tell the scenario first,

My wife's original name is 'Mani' (she did not put a last name in official documents).. We got married in 2013 when she changed her name to 'Mani Chhabra' in all official documents.. In 2014, she created a Fixed Deposit with her name as only 'Mani' on the FD document..

1st question: Can I use this FD as a proof of fund (considering FD has her first name only)?? If yes, do I need to attach any additional document to it??

2nd question: Do I need to prove that where did this money came from as it has been more than 2.5 years now?? Also, this FD is due to mature in 6 months time..

I would really appreciate if someone can help me with this.. Also, it would be great if you can share some link where some official detail of POF is given which I can relate to my concern..

Thanks!!!

 

[One_Topsy]

I have 2 questions, let me tell the scenario first,

My wife's original name is 'Mani' (she did not put a last name in official documents).. We got married in 2013 when she changed her name to 'Mani Chhabra' in all official documents.. In 2014, she created a Fixed Deposit with her name as only 'Mani' on the FD document..

1st question: Can I use this FD as a proof of fund (considering FD has her first name only)?? If yes, do I need to attach any additional document to it??

2nd question: Do I need to prove that where did this money came from as it has been more than 2.5 years now?? Also, this FD is due to mature in 6 months time..

I would really appreciate if someone can help me with this.. Also, it would be great if you can share some link where some official detail of POF is given which I can relate to my concern..

Thanks!!!

1. Hey, there could be lots of Mani's out there. Why not cash the FD and put a new one in her current name?

2. You have to give proof of how you guys got the money. How will they know the money isn't a loan that was put in FD? People do that

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

 

[PeachesAndMaples]

My bank do not provide for average monthly balance. I have attached bank statements for the last six months. Would it be okay?

 

[UnleashedFX]

Is it okay to ask a friend I did work for to give me a company check and for me to deposit it?

I will scan the check before depositing it and obtain a letter stating that I did the project from date x to date y and I got paid for it.

Would that be sufficient?

Thank you!

 

[JordanaF]

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

Thank you'

 

[push1988]

Hi All,
I had a question: I have 4 fixed deposits in my account- created in June last year- that have enough funds required.
They were created online only.
Now to show PoF, i am taking statement for these 4 stamped/signed from bank.
Do I still need bank statement for last 6 months?

 

[UnleashedFX]

Is it okay to ask a friend I did work for to give me a company check and for me to deposit it?

I will scan the check before depositing it and obtain a letter stating that I did the project from date x to date y and I got paid for it.

Would that be sufficient?

Thank you!

Sorry guys, but it is quite urgent. Anybody who can help me?

Much appreciated!

 

[KRahman]

Hi, i needed to have 12,300 CAD as a single applicant but i couldn't maintain it for months. So i transferred around $8000 cad from my sister yesterday.

1. What are documents will i be needing for POF ?

Are this documents okay ?
- 1. My Bank Certificate mentioning opening and closing date and amount of money present.
- 2. Gift Deed and Bank Statement of My sister for that particular month. ( or should i add source of that fund from her ?)

2. Can i apply straight away or should i keep the fund for a month and then apply ? I still have around 68 days to submit my Eapr.