Proof of Funds (Express Entry)

[Mat_M]

My bank account balance for the 6 months before eAPR will be like $2,000, $8,000, $10,500, $19,500, $17,000, $16,500. The average for the past 6 months before eAPR will thus be around $12,250. Since I have a family of 2 I need around $15,200.

Now the question is if that will be OK if I get a letter from the bank indicating my current balance as $16,500 and the average for the 6 months as $12,250? Will the CIC ask for other documents?

 

[EdieRo]

Good evening dear fellow applicants,

I'm trying to draft a letter of explanation for my case below, and would really appreciate any tips:

Dear Immigration Officer,
I, XXX, passport number XXX, married to XXXX, resident at XXX, Canada, hereby explain the following details regarding my proof of funds documentation:
Since moving to Canada in July 2016, my accompanying spouse and I combined our savings into a single savings account under his name at XXX bank branch xxx account number xxxxx in Home country;
Because we were hesitant if the required funds under the accompanying spouse’s name would be acceptable, or need to be under the principal applicant’s name, we transferred the amount of xxxxx from my spouse’s account in xxx Bank to my account in yyyyy bank branch xxxx account xxxxx in order to meet the requirements;
To prove the source of these funds, we are also presenting the transfer document from my spouse’s account, a declaration from my spouse for the amount transferred and for the remaining balance in xxx bank, as well as his bank statements from the last 6 months showing the amounts were available for that period.
As evidence of financial resources to support the applicant and accompanying spouse, please find enclosed the following documents:
yyyy bank letter with the amount of yyy (principal applicant - minimum required)
CIBC bank letter with the amount of CAD$xxxx
xxxx bank letter with the amount of xxxx (spouse).

Would this letter be sufficient to explain the transfer we made from spouse to principal applicant?
How do I finalize this letter, asking them to believe this is the truth?
Any sugestion on what my spouse should write as declaration of non objection for the amount transferred and the remaining amount in his account?

Thank you so much in advance!!

 

[naliniparthiban]

Thanks a lot Vishal. But do I need to produce gift deed for transfer of funds from my spouse account as well or a simple declaration from him that I can use his funds for anything would do??.
I would suggest you to keep your spouse's funds in his account only and just get a declaration from him.

Also for his EPF do I need to get any letter from his employer apart from the EPF ledger???
a signed and stamped EPF ledger is enough
Thanks a lot..

Hi Vishal,

As you had suggested, I'm planning to keep my husbands funds in his account itself. few clarifications

1. I'm going to liquidate his mutual funds. So should I let it remain in his account or should I make it a FD? ( Since this is his salary account I'm afraid if I keep it as is in savings account, we might spend it off. )

2. If so, wanted to know if FD which is made fresh now from his funds is acceptable?

3. He has an already matured FD & one FD about to mature. What docs needed to show these FDs? Should I close his about to mature FD or I can let it reaming as is?

4. Do I need his 6 months statement if his bank is ready to issue the balance & FDs available in his name as on date?

5. Is gift deed a safe option or a simple fresh FD safer?

6. Should I let the gift deed funds received from my father remain in savings account or can I make it a FD as well?

Sorry for the long list of questions... Thanks in advance.

 

[vibhu1989]

My bank account balance for the 6 months before eAPR will be like $2,000, $8,000, $10,500, $19,500, $17,000, $16,500. The average for the past 6 months before eAPR will thus be around $12,250. Since I have a family of 2 I need around $15,200.

Now the question is if that will be OK if I get a letter from the bank indicating my current balance as $16,500 and the average for the 6 months as $12,250? Will the CIC ask for other documents?

Could you support increase in balance by documents such as pay slip or others. If that is the case or anything like that, it would remove any doubt.

 

[EdieRo]

Thank you vishalg!

Would you have an example of what the letter from my spouse should say?
Thank you again!

 

[uppperkut]

Hi everyone,

My bank doesn't issue a letter that has all the accounts I have opened with them. Instead, I have to request a letter for each.

Do I need to list all the accounts, even those that don't have money in them?

What I'm providing is:

Current account (doesn't have much funds, my salary is credited to it though)
- Stamped statement for last 8 months
- Reference letter showing when the account was opened, together with my name, etc.

Savings account 1 (has all funds that covers the IRCC's minimum since 1+ years)
- Stamped statement for last 8 months
- Certificate of balance
- Reference letter showing when the account was opened, together with my name, etc.

Savings account 2 (has zero funds)
- Reference letter showing when the account was opened, together with my name, etc.

Liability letter
- Shows my credit card's outstanding debt

Thanks!

 

[astralsource]

My bank account balance for the 6 months before eAPR will be like $2,000, $8,000, $10,500, $19,500, $17,000, $16,500. The average for the past 6 months before eAPR will thus be around $12,250. Since I have a family of 2 I need around $15,200.

Now the question is if that will be OK if I get a letter from the bank indicating my current balance as $16,500 and the average for the 6 months as $12,250? Will the CIC ask for other documents?

There is a big difference between your monthly amounts. How will you explain for example a rise from 10,500 to 19.500? Do you have salary income? It would be suspicious to CIC so they might ask an explanation. Point is you dont have a big difference in the amounts meaning there was no large sum of money deposited at once. And you have that. I would wait as long as I can to at least have a start month with 8,000.

 

[babilon]

Hi all,

I have a few questions:
I am the primary applicant but the money in my checking account is steadily decreasing (we had expenses lately) -started with 13K 6 months ago, now have 8K. My wife has 10K in her own account.

1. Do you think the changes in my account as the primary applicant would have a negative effect on our application?

1. From the past posts, I understand that to use my wife's account I need a statement of declaration from her. Does this statement have to be notarized?

2. My wife received 5k from her brother-in-law two months ago. It was borrowed money- he simply paid it back. Without it, we can still meet the required amount 8+5=13K (= 17K CAD). In this case, should she still get a gift deed from her brother-in-law?

Thank you

 

[vishalg]

Hi Vishal,

As you had suggested, I'm planning to keep my husbands funds in his account itself. few clarifications

1. I'm going to liquidate his mutual funds. So should I let it remain in his account or should I make it a FD? ( Since this is his salary account I'm afraid if I keep it as is in savings account, we might spend it off. )
you can do either
2. If so, wanted to know if FD which is made fresh now from his funds is acceptable?
FDs are acceptable but will need to provide the trace of these funds
3. He has an already matured FD & one FD about to mature. What docs needed to show these FDs? Should I close his about to mature FD or I can let it reaming as is?
FD certificates are issued by the bank, you can upload those as POF
4. Do I need his 6 months statement if his bank is ready to issue the balance & FDs available in his name as on date?
statement might be needed if your FD is new so as to provide the trail of funds.
5. Is gift deed a safe option or a simple fresh FD safer?
you don't need a gift deed from spouse. Let it be in his name or if you are opening a new get it done on a joint name basis.
6. Should I let the gift deed funds received from my father remain in savings account or can I make it a FD as well?
either is fine
Sorry for the long list of questions... Thanks in advance.

Gift Deed is required from father not spouse.

 

[vishalg]

Thank you vishalg!

Would you have an example of what the letter from my spouse should say?
Thank you again!

it is a no objection statement, a brief one is fine saying that she/he allows to utilize the funds available in her/his account ( mention bank and account numbers/ FD details) for immigration purpose and s/he will be accompanying you to Canada upon receiving the COPR.

 

[vishalg]

Hi all,

I have a few questions:
I am the primary applicant but the money in my checking account is steadily decreasing (we had expenses lately) -started with 13K 6 months ago, now have 8K. My wife has 10K in her own account.

1. Do you think the changes in my account as the primary applicant would have a negative effect on our application?
No impact. Show your account along with your spouse's
1. From the past posts, I understand that to use my wife's account I need a statement of declaration from her. Does this statement have to be notarized?
plain declaration is fine
2. My wife received 5k from her brother-in-law two months ago. It was borrowed money- he simply paid it back. Without it, we can still meet the required amount 8+5=13K (= 17K CAD). In this case, should she still get a gift deed from her brother-in-law?
Better to prove it through a gift deed. Makes your case simpler.
Thank you

 

[tlh_khan]

Hello,

Any body have idea about if I have PF fund 21071 CAD$ for 4 members they will accept or not or I should submit as per their requirement.

Please let me know

 

[abhishekasu]

Thanks for your response. My US Bank is WellsFargo. Please let me know the process and help me get the required document.

Also, one more question - After getting VISA approved, can I travel alone or my spouse and kids have to travel along with me immediately for the first time.

 

[Maverick28]

Thanks for your response. My US Bank is WellsFargo. Please let me know the process and help me get the required document.

Also, one more question - After getting VISA approved, can I travel alone or my spouse and kids have to travel along with me immediately for the first time.

Do you have online banking for your account? I have an account with Bank of America (BofA) and Chase. I downloaded my statements from the online banking and asked BofA for a letter. They have a standard letter for immigration purpose which mentions my balance and average balance for 6 months, which they sent at my registered mailing address. This letter along with online statements will be sufficient. You can get in touch with Wells Fargo and get the same. I am pretty sure they must be having such a letter as it is a nationalized bank.

If you are the primary applicant, you can land first without spouse and kids. But you will have to complete the landing procedure first.

 

[sagar1279]

Hello,

I got ITA on 19 April draw and currently into the process of preparing documents for submission. I have doubts on POF. Please help me clear them out.

1. For 3 people, requiring amount is less than 19k Cad. I have written 25k Cad in my profile. How much do I have to show as POF now? 25k or 19k?

2. Reason for asking point 1 is that in my savings account, I have given loan to a business firm (28k cad) since 2 years, for which I regularly receive interest. Now if I receive money back pertaining to that loan, will I also have to show when I gave money? (1.5-2 years back).

3. I have only 10k cad as balance in my account as of now, as I keep on giving loans to people & business. How do I show that this money is mine even if I get that money in my account 1 week before I get bank statements and letter.

4. I had fixed deposit of 16k cad which got matured (there are monthly interest entries too) and then I gave it to someone as loan. Can I again show that after I get given loan back.

Basically, I have more than required (19k) or mentioned (25k). However it's not with me right now. If I get that back and there will be sudden increase in balance, how do I prove it's my money? Also, can attaching government filed tax returns show proof of loans given? How to go about it?

Please help. Thanks.

Any help on this please?