Proof of Funds (Express Entry)

[miladi]

Hi.
I'm an EE CEC applicant (in Canada). I received my ITA about 2 months ago. I got the bank statements and a letter from my bank last month (funds are above what CIC needs) and I'm about to submit my EAPR. Apart from the accounts and credit cards with my current bank I've taken a car loan within the last month from a different bank. Do I have to declare my car loan as well?

Thanks,
M

 

[DelPiero07]

Hi.
I'm an EE CEC applicant (in Canada). I received my ITA about 2 months ago. I got the bank statements and a letter from my bank last month (funds are above what CIC needs) and I'm about to submit my EAPR. Apart from the accounts and credit cards with my current bank I've taken a car loan within the last month from a different bank. Do I have to declare my car loan as well?

Thanks,
M

You're a CEC applicant, you do not have to show proof of funds.

 

[miladi]

You're a CEC applicant, you do not have to show proof of funds.

But my Express Entry profile clearly asks for proof of funds!
Any ideas?
M

 

[DelPiero07]

But my Express Entry profile clearly asks for proof of funds!
Any ideas?
M

That's because you stated an amount other than $0 in the question regarding how much funds you'll bring to Canada.

Upload a letter stating that you're a CEC applicant and thus, no POF are required, that's all you need.

 

[miladi]

That's because you stated an amount other than $0 in the question regarding how much funds you'll bring to Canada.

Upload a letter stating that you're a CEC applicant and thus, no POF are required, that's all you need.

Wow! I can't believe this is the first time I'm hearing that Express Entry Canadian Experience Class doesn't require Proof of Funds! Thank yoU!
Do you by any chance have a source for this to share with me as well?

BTW, Del Piero's my legend too!
Thank you
Milad

 

[miladi]

Wow! I can't believe this is the first time I'm hearing that Express Entry Canadian Experience Class doesn't require Proof of Funds! Thank yoU!
Do you by any chance have a source for this to share with me as well?

BTW, Del Piero's my legend too!
Thank you
Milad

Actually found it myself:
http://www.cic.gc.ca/english/helpcentre/answer.asp?qnum=1145&top=29

Thanks a million

 

[sanjsin9]

Guys one question in regards to POF - im showing my Savings account for POF , if i transfer small amounts from my salary account(which i took loan to show POF) and do transactions in my savings account to show some transactions , will they ask my salary account details or do i need a LOE for it ?

 

[Rise and shine]

Really helpful forum, I will come back with my queries.

 

[sidpune]

If I open a Fixed deposit after I receive my ITA will that be an issue if I show it as POF ?

 

[vishalg]

Guys one question in regards to POF - im showing my Savings account for POF , if i transfer small amounts from my salary account(which i took loan to show POF) and do transactions in my savings account to show some transactions , will they ask my salary account details or do i need a LOE for it ?

if you are showing only savings account and it has sufficient funds for last 6 months then it is fine. But if there have been credits in saving account then you would have to provide of those funds and if they are coming from your salary account then you might have to showcase from where these funds came from. Complete audit trail for last 6 months.

 

[vishalg]

If I open a Fixed deposit after I receive my ITA will that be an issue if I show it as POF ?

Not an issue as long as you can prove that the funds are yours and not borrowed

 

[10leanne86]

Please can someone help me in regards to proof of funds...
I have all the proof of funds for a family of four in one savings account therefore do I need to include bank statements from my everyday current account or not? The reason I ask is I got the bank to print them for me yesterday and it was 80 pages!! Is this necessary or not if I'm already showing money in my other savings account?
Thank you

 

[sidpune]

Not an issue as long as you can prove that the funds are yours and not borrowed

The FD is in my name, is there any other proof I need to provide...

 

[vishalg]

Please can someone help me in regards to proof of funds...
I have all the proof of funds for a family of four in one savings account therefore do I need to include bank statements from my everyday current account or not? The reason I ask is I got the bank to print them for me yesterday and it was 80 pages!! Is this necessary or not if I'm already showing money in my other savings account?
Thank you

get the letter from that savings account which you want to use for POF. No need for statements if all required details are mentioned on the letter and you don't need to highlight any significant credits in your account within last 6 months.

 

[vishalg]

The FD is in my name, is there any other proof I need to provide...

the source of the money is crucial I.e. where is this money coming from, your other account ( then details of that account is also required), if coming from father's account then a gift deed will be required. At the end you need to prove the money is yours.