Proof of Funds (Express Entry)

[Rk Gunner]

HI EVERYONE... JUST ONE DOUBT.. I HAVE 680GMS OF GOLD IN MY BANK ACCOUNT. EACH GRAM IS OF 51CAD AS PER TODAYS MARKET. AND THE TOTAL AMOUNT CAN BE 34,800 CAD. cAN I SHOW THIS AS PROOF OF FUND?

As far as I know, I don't think you can show that as POF. Assets are not considered as POF as long as you can sell them and have the balance available.

 

[Rk Gunner]

Hey Guys,

Can I open an online bank account today back in Nepal and ask my parents to transfer money on that account and use it to show POF?

As per the posts I have read here, I believe bank account does not necessarily have to be 6 months old. Is that right? And I am also planning to show the statements of my current bank account although it does not have enough funds.

Please some insights is appreciated.

Thank you

 

[moh2017]

Hi All,

My question is regarding proof of funds.
I am in the US and my bank which is PNC bank only provides letter with the current balance. They are not ready to provide the average balance for last 6 months.
What are my options in this case?

Thanks

 

[DelPiero07]

Hi All,

My question is regarding proof of funds.
I am in the US and my bank which is PNC bank only provides letter with the current balance. They are not ready to provide the average balance for last 6 months.
What are my options in this case?

Thanks

Bank statements of the past 6 months.

 

[moh2017]

Bank statements of the past 6 months.

Thanks @DelPiero07 for your reply. Do the bank statements have to be attested or just the normal online bank statements will do?

 

[moh2017]

Thanks @DelPiero07 for your reply. Do the bank statements have to be attested or just the normal online bank statements will do?

Also I have couple of credit cards, do I need to a letter from each credit card company or just the online statement will do?

 

[DelPiero07]

Thanks @DelPiero07 for your reply. Do the bank statements have to be attested or just the normal online bank statements will do?

Just get them stamped by your bank.

No need for credit card information from those companies.

 

[blackbear88]

Hi guys,

Great thread! I am currently filling out my e-APR as I received ITA about a week ago. For Proof of Funds I will be filling in 16,700 CAD in total for myself and my common law partner (min required for 2 = 15,312 CAD)
When filling out my EE profile prior to receiving ITA, I had indicated that my funds were higher.
I still do have those funds (2 different banks in 2 different countries) but I would need to get translations done from the bank in my country. Hence why I changed to 16,700. Is this change okay and should I mention it on the LOE?

Thanks

 

[DelPiero07]

Hi guys,

Great thread! I am currently filling out my e-APR as I received ITA about a week ago. For Proof of Funds I will be filling in 16,700 CAD in total for myself and my common law partner (min required for 2 = 15,312 CAD)
When filling out my EE profile prior to receiving ITA, I had indicated that my funds were higher.
I still do have those funds (2 different banks in 2 different countries) but I would need to get translations done from the bank in my country. Hence why I changed to 16,700. Is this change okay and should I mention it on the LOE?

Thanks

Any amount stated is fine as long as you meet the minimum required funds.

 

[sorelconsty]

People would you help me about the template of "gift deed certificate"? For POF, I have come to this conclusion that It is safer to get the required money from my dad as a gift.
I want to write a letter and give him to sign. In addition, he will provide me with a document provided by the bank that shows the money transfer from his account. Do I need something more? Does it suffice?
What do you think of the following template?
To whom it may concern,

I am writing this letter to express that on.... I transferred 20K Dollars of Canada from my bank account with the number of ..... to my son account in ....bank with the account number of ...... The serial of this money transfer is ......

I have given this amount of money to my son as a gift to help him start his life in Canada and he will not need to pay it back to me in the future.
In case you need more explanations please contact me on +1234566677.

signature

Thanks everybody for your contributions.
please I am in the same situation. I want to sell my land for providing POF.
I need testimony for person who used this case or used a family gifts for POF and don't have no problem in the

 

[sorelconsty]

People would you help me about the template of "gift deed certificate"? For POF, I have come to this conclusion that It is safer to get the required money from my dad as a gift.
I want to write a letter and give him to sign. In addition, he will provide me with a document provided by the bank that shows the money transfer from his account. Do I need something more? Does it suffice?
What do you think of the following template?
To whom it may concern,

I am writing this letter to express that on.... I transferred 20K Dollars of Canada from my bank account with the number of ..... to my son account in ....bank with the account number of ...... The serial of this money transfer is ......

I have given this amount of money to my son as a gift to help him start his life in Canada and he will not need to pay it back to me in the future.
In case you need more explanations please contact me on +1234566677.

signature

Thanks everybody for your contributions.
please I am in the same situation. I want to sell my land for providing POF.
I need testimony for person who used this case or used a family gifts for POF and don't have no problem in the

 

[sorelconsty]

Hi guys! I am showing a gift deed from my father as proof of funds. I want to know, do I have to still show 6 month bank statement because I haven't maintained the required balance? Also, do I need to show my father's bank statement also?

Thanks everybody for your contributions.
please I am in the same situation. I want to sell my land for providing POF.
I need testimony for person who used this case or used a family gifts for POF and don't have no problem in the process.
Please forgive my English I am a french speaker.

 

[Babu2002]

Guys.....please reach out....very urgent....
My doubt is if my father is giving me the required fund say 6 lakhs....& if I deposit that amount as my FD , will I have to show the gift deed or is the gift deed only applicable ,if my father transfers that amount to my savings account???

Please help.....Eagerly waiting for seniors reply...

 

[sundar17feb99]

Guys.....please reach out....very urgent....
My doubt is if my father is giving me the required fund say 6 lakhs....& if I deposit that amount as my FD , will I have to show the gift deed or is the gift deed only applicable ,if my father transfers that amount to my savings account???

Please help.....Eagerly waiting for seniors reply...

If you deposit that amount as a FD, then there is no need for you to make a gift deed as the funds won't be reflected in your bank statement.
If you are taking a path of FD, scanning the FD certificate would suffice.

Gift deed is suggested, if you had chosen to deposit the money in your account as it will reflect in your bank statement.

 

[Babu2002]

If you deposit that amount as a FD, then there is no need for you to make a gift deed as the funds won't be reflected in your bank statement.
If you are taking a path of FD, scanning the FD certificate would suffice.

Gift deed is suggested, if you had chosen to deposit the money in your account as it will reflect in your bank statement.

Thanks a lot my dear friend.....actually I am planning to apply for the next intake of sinp expressentry.(may be in the next month)... So, is it necessary that FD should be 3 months old.....