Proof of Funds (Express Entry)

[modupetemi]

if you can't prove it then CIC will believe the funds are borrowed. You have to show a legal document against the credit of the funds. Ask any of your relatives to give you a gift and get this money directly transferred to their account.

Oh well understood. Thank you..

 

[vickyr019]

I have a FD and a bank account which gives me approx. 18000 CAD.
I can get a letter from BANK as PROOF of FUNDS as well.
DO CIC check in details about the 6 months bank statement?
I have some big transactions during last 6 days and don't want to get into any scrutiny ...
DO CIC enquire about the source of funds transfer?

 

[faraz2512]

What exactly is GIFT DEED? can anybody explain plz.. I plan on transferring the money from my Dad's account. He is currently working and is able to support himself. what all do I require to confirm that it is a GIFT DEED?

 

[hawk1301]

Guys I am really confused. My salary account and account in which I have made my savings are different from different banks. The savings account is a joint account between me and my mom and has around 17k cad savings. What should I do? Do I need to transfer money from this to an individual account?

 

[hassaan_anwar]

What exactly is GIFT DEED? can anybody explain plz.. I plan on transferring the money from my Dad's account. He is currently working and is able to support himself. what all do I require to confirm that it is a GIFT DEED?

from what i understand, its basically a letter that says that you have been gifted XXX amount of money from XXX and that the person will not be needing it back..i suggest you google the template. However from what ive read, the letter should be signed by both parties along with witness signature.

 

[vishalg]

I have a FD and a bank account which gives me approx. 18000 CAD.
I can get a letter from BANK as PROOF of FUNDS as well.
DO CIC check in details about the 6 months bank statement?
I have some big transactions during last 6 days and don't want to get into any scrutiny ...
DO CIC enquire about the source of funds transfer?

people have submitted only FD certificates and received PPR. If your FD is less than 6 months old you need to provide the source of the funds for FD.

 

[vishalg]

What exactly is GIFT DEED? can anybody explain plz.. I plan on transferring the money from my Dad's account. He is currently working and is able to support himself. what all do I require to confirm that it is a GIFT DEED?

Gift Deed is a legal document stating that donor has given a gift ( monetary in this case) to Donee and it has been accepted by the Donee. It will mention all the details like
1. Relation between donor and donee
2. Amount gifted
3. Mode of gift ( cheque/ internet transfer)
4. Acceptance by donor that donee can do whatever with the money and he DOESN'T NEED TO PAY BACK the sum

 

[vishalg]

Guys I am really confused. My salary account and account in which I have made my savings are different from different banks. The savings account is a joint account between me and my mom and has around 17k cad savings. What should I do? Do I need to transfer money from this to an individual account?

check with the bank if they agree to give you a letter on your name only. If not, then try getting your mother's name removed from the account. Else transfer the sum to your salary account and get a gift deed from your mother.

 

[vickyr019]

people have submitted only FD certificates and received PPR. If your FD is less than 6 months old you need to provide the source of the funds for FD.

Thanks for the reply..
My FD is more than 2 years old..
My Bank accounts has bigger transactions in past 3 months; DO CIC enquire for source of funds in Detailed monthly statement?

 

[vishalg]

Thanks for the reply..
My FD is more than 2 years old..
My Bank accounts has bigger transactions in past 3 months; DO CIC enquire for source of funds in Detailed monthly statement?

letter is important and it should have all requested details including average of 6 months. If the averages is above minimum required amount then there is no problem. But if there is significant credit in your account which impacts the minimum funds then you have to prove the funds are yours and that may trigger the need for detailed statement

 

[faraz2512]

Gift Deed is a legal document stating that donor has given a gift ( monetary in this case) to Donee and it has been accepted by the Donee. It will mention all the details like
1. Relation between donor and donee
2. Amount gifted
3. Mode of gift ( cheque/ internet transfer)
4. Acceptance by donor that donee can do whatever with the money and he DOESN'T NEED TO PAY BACK the sum

Thanks for the info.. is there format for the letter that I shall follow? and what other docs do I require??

 

[vishalg]

Thanks for the info.. is there format for the letter that I shall follow? and what other docs do I require??

I don't have it handy but you can check a thread started by 'anujgupta84'. He has given the format, format is also available with the notary or on Google search.

 

[Bull Dog]

Hello friends;
I received my ITA on April 5th and I am residing in USA for last 4 years. I am planning to show POF from my bank account in India which has 7 lakh INR (14000 CAN$). Also I have 4000 USD (6000 CAN$) in my salary account in USA.

The money in my indian bank account was deposited by my mother and brother in March which won't have 6 months maturity when I take my statement (I am planning to take the statement in June as my EAPR deadline is July 5). But this money deposited (7 lakh) was all earned by me and was transferred to my mother and brother's bank accounts during past 2 years through an online money transaction agency (Xoom, Paypal) from USA and I have the transaction details. Basically 7 lakh of my money was with my mother and brother. In March they deposited this money to my bank account in India (which was inactive until March). But due to demonetization effects they couldn't deposit all the money together (and I was not having PAN card). So the money was deposited through 11 transactions (they went to my bank and deposited). All this transactions happened in March 2017. How can I convince CIC about this situation? Any advice?

 

[gpsingh12]

That was a great help, THANKS Vishalg

 

[Navprateek]

Hi,
I am submitting the file for my sister in law, she got the ITA, I am little confused with the funds section as you have to provide the statement for last 6 months. She has a joint account in India, I got the affidavit from the person she shares account with, saying he doesn't have any issues with her using the funds. Now she didn't had enough funds in October and November. But then a large amount was deposited by the person she shares account with in Dec.

Now we are little worried how to proceed next. Her current balance is more than enough as per the requirement of cic. Shall we just submit the applications with the details we have based on above scenario?

Please advice