Proof of Funds (Express Entry)
- Thread starter ThisIsHoof
- Start date
thanks @khalidr & @KiranK for your immediate response. Could you share the link where CIC says it does not accept funds from loan please.
in that case i need to figure out something because the amount i have is from personal loan. i need to close the loan account and arrange amount from somewhere else.
in that case i need to figure out something because the amount i have is from personal loan. i need to close the loan account and arrange amount from somewhere else.
Could you share the link where CIC says it does not accept funds from loan please.
Would really appreciate your advice. I recently sold my car for the proof of funds, but received the payment in cash. I do have a notarized sale of car transaction signed by myself and the buyer, mentioning to details of car as well as the amount the car was sold for. Will the absence of cheque number cause problem? Similarly half of the amount for the pof may come from my mother's savings that she kept at home as she doesnt have a bank account. If she makes a gift deed and deposits it in my account, would that be fine? (against no cheques involved)
Hi
I have two accounts with two different banks. One account has loan associated with it while in another account I have sufficient POF.
Is it enough if I get bank statement from the bank where I have sufficient amount to show as proof of funds or Do I need to take bank statement from all banks where I have an account?
Please clarify this point as I am worried that having a loan may affect my application. The bank account with the loan is my salary account while the account with another bank with enough POF is my saving account.
Thanks
I have two accounts with two different banks. One account has loan associated with it while in another account I have sufficient POF.
Is it enough if I get bank statement from the bank where I have sufficient amount to show as proof of funds or Do I need to take bank statement from all banks where I have an account?
Please clarify this point as I am worried that having a loan may affect my application. The bank account with the loan is my salary account while the account with another bank with enough POF is my saving account.
Thanks
@KiranK Thank you very much for the detail.
I would like to tell the exact situation I am in so that I can get the right suggestion.
I am going to get the money for the proof of funds from a friend of mine in liquid cash. I am planning to deposit that money into my bank account and then take the statement from the bank. Is that okay?
If yes, what would be the right way to explain the immigration people about how I got it because I cannot definitely tell it is from a friend and that is the very reason I am not going for an online transfer of funds.
I also see people talking about something called a "Gift Deed". Do I have to get something like that too?
Please help me out with the procedure to better explain the Proof of funds as I am most concerned with it right now.
Also please let me know if there is a way that I can show the Proof of Funds. Any suggestion is deeply valued. Thank you in advance.
I would like to tell the exact situation I am in so that I can get the right suggestion.
I am going to get the money for the proof of funds from a friend of mine in liquid cash. I am planning to deposit that money into my bank account and then take the statement from the bank. Is that okay?
If yes, what would be the right way to explain the immigration people about how I got it because I cannot definitely tell it is from a friend and that is the very reason I am not going for an online transfer of funds.
I also see people talking about something called a "Gift Deed". Do I have to get something like that too?
Please help me out with the procedure to better explain the Proof of funds as I am most concerned with it right now.
Also please let me know if there is a way that I can show the Proof of Funds. Any suggestion is deeply valued. Thank you in advance.
Hi everyone,
The only issue with me to show POF is that most of the money I have is in cash which I withdrew from my accounts and give it to family and friends and now I have got that money back. So lets say If I deposit all the money in one account, do you think that my salary slips or statement will be enough to prove that. To clarify, total I need for three family members is around 19000 Cad dollars, And I worked 4 years part time in the UK and for last one year in the UAE and total of my all salaries are equal to more than 30 thousand Canadian dollars which I can prove with bank statements.
Or shall I deposit all my money into my fathers account and later transfer it to my account and prepare a gift deed from my father.
I hope you I clearly mentioned my point.
Please advise which one should I choose for POF.
The only issue with me to show POF is that most of the money I have is in cash which I withdrew from my accounts and give it to family and friends and now I have got that money back. So lets say If I deposit all the money in one account, do you think that my salary slips or statement will be enough to prove that. To clarify, total I need for three family members is around 19000 Cad dollars, And I worked 4 years part time in the UK and for last one year in the UAE and total of my all salaries are equal to more than 30 thousand Canadian dollars which I can prove with bank statements.
Or shall I deposit all my money into my fathers account and later transfer it to my account and prepare a gift deed from my father.
I hope you I clearly mentioned my point.
Please advise which one should I choose for POF.
Hi all,
For PoF, Do we need to have 12300$ for all 6 months in the account ? What I mean is , If I get to 12300$ in June, I need to apply in Dec, so that 12300 is in my account for 6 months? OR,
I can show it gradually increasing ? Like if i have 7000$ in June, 9000$ July, 12000$ in August .....Is this accepted ? source can be showed as pay stubs !
For PoF, Do we need to have 12300$ for all 6 months in the account ? What I mean is , If I get to 12300$ in June, I need to apply in Dec, so that 12300 is in my account for 6 months? OR,
I can show it gradually increasing ? Like if i have 7000$ in June, 9000$ July, 12000$ in August .....Is this accepted ? source can be showed as pay stubs !
You can show a gradual increase but yes, provide pay stubs to show the source of such funds.