Proof of Funds (Express Entry)

[nbt11]

Actually I withdrew it 7 months ago so it won't reflect in my bank statement. Its just that a very small amount is being deducted each month from my salary. My question is if I should show the statement of provident fund account also or is that unnecessary.

In that case, no problem at all. You don't have to show the PF statement.
Cheers..

 

[omarkhan]

In that case, no problem at all. You don't have to show the PF statement.
Cheers..

Great. Thanks a lot. . And should I explain that very small amount being deducted each month in Loe?

 

[nbt11]

Great. Thanks a lot. . And should I explain that very small amount being deducted each month in Loe?

Not necessary. It's a small amount and it doesn't make a significant difference to the main balance.

 

[omarkhan]

Not necessary. It's a small amount and it doesn't make a significant difference to the main balance.

Thank you very much.

 

[nbt11]

Thank you very much.

All the best

 

[omarkhan]

All the best

You too.

 

[allthewaytoCanada]

Will the exchange rate affect the POF? I mean on the day I got my bank certificate the exchange rate was low and now its increasing and by the time the visa officer checks my bank certificate the funds I have shown will be lesser because of the changes in the exchange rate.

 

[danishsaeed]

Guys,

I need your help with respect to POF. I only have one bank account which is a salary account. All my savings are in Gold and I have done a freelance project for a friend worth US 10,000 dollars. Now, I have sold some of the gold and I have receipts to prove that. I also have a legal contract with my friend that explains the services I've provided and the money I have charged.

Now suddenly, my account will go from 1500 USD to around 15,000 USD. Will that be an issue or showing the contract and the sold gold receipts as proof will be enough? Please help as I only have 20 days to go before my ITA expires. Thanks.

Guys, please help with the above query.

 

[omarkhan]

Hi Guys, I am so worried about my application right now. Due to the large inflow of funds into my account from my family, my bank is investigating me for money laundering. It is quite laughable but a serious issue. I have given them all evidence of the purpose of the funds. I like preparing for worst case scenarios, so if this bank decide to close my account and release my funds (they've done this to a friend before), how do I continue to satisfy the POF requirements with a new bank account? I received AOR today.

How big was the amount? Didnt you have any source of funds to show them, such as a gift deed or receipts of sale of stuff etc?

 

[omarkhan]

Dear all:

I have a personal loan against me from the same bank in which i have the settlement funds in my account. I wonder if I should first repay the loan (about CAD 2000) and then get a letter from the bank. And if so, would it be a problem if my statement shows a debit of 2000 dollars just a week before i should my pof? Please help.

 

[omarkhan]

Will the exchange rate affect the POF? I mean on the day I got my bank certificate the exchange rate was low and now its increasing and by the time the visa officer checks my bank certificate the funds I have shown will be lesser because of the changes in the exchange rate.

Guys, anyone please?

 

[omarkhan]

All the best

Hi again. I have a personal loan against me from the same bank in which i have the settlement funds in my account. I wonder if I should first repay the loan (about CAD 2000) and then get a letter from the bank. And if so, would it be a problem if my statement shows a debit of 2000 dollars just a week before i should my pof? What would you suggest?

 

[omarkhan]

Are you saying that you withdrew your provident fund and it is in your account?
If yes, show your bank balance and the source of income proof would be your Provident fund statement.

It's okay if some money is being from there as long as it meets the minimum requirement. Just make sure there is no significant outflow, it raises a question from CIC
Cheers.

Just wondering what do you mean by "significant outflows"? You mean if I repay a loan of about 2000 CAD that would raise a question from CIC? Isnt it alright as long as I dont go below the minimum requirement?

 

[Lordnath]

How big was the amount? Didnt you have any source of funds to show them, such as a gift deed or receipts of sale of stuff etc?

It was £8,000. I showed them the gift deed but they are asking how the donor got the funds.

 

[nbt11]

Just wondering what do you mean by "significant outflows"? You mean if I repay a loan of about 2000 CAD that would raise a question from CIC? Isnt it alright as long as I dont go below the minimum requirement?

I guess it won't be a problem if it doesn't go below the minimum requirement.

Hi again. I have a personal loan against me from the same bank in which i have the settlement funds in my account. I wonder if I should first repay the loan (about CAD 2000) and then get a letter from the bank. And if so, would it be a problem if my statement shows a debit of 2000 dollars just a week before i should my pof? What would you suggest?

If you close the loans it's actually a positive thing, because you can explain that you don't owe anything now. You can put that particular transaction in your LOE stating that this 2000 CAD is to close my loan etc. It's not required though because you don't go below the minimum requirement. You are fine here.