Proof of Funds (Express Entry)

[Prats6]

Thanks Prats6....

The funds are mine only, but for better rate of interest for the senior citizens, put MOM as first holder....

Otherwise, if i remove her name from the FD & keep only my name as first holder will work or not......

I think better to ask the same with the bank representative's if they can do so or not....

James....

James, I completely understand the funds are yours. But according to the official documents - they are not - your Mother is the first holder. So, if you can get that changed, it is perfectly fine. Else, you might have some issues with showing it as POF.

 

[james_tvm]

James, I completely understand the funds are yours. But according to the official documents - they are not - your Mother is the first holder. So, if you can get that changed, it is perfectly fine. Else, you might have some issues with showing it as POF.

Thanks Prats6!!!.......!!! Now I got it......Will try to get the FD in my name, don't want to run in to issues later on....

 

[GrasshopperF]

Hi guys,

Just wondering for the Proof of Found, should I show my pre-approved mortgage? I asked the guy in TD Bank, and he said we are not considered having an account in TD, and personally he cannot issue the official letter to show this loan.

I am thinking, this is pre-approval only, I am not actually owing anything yet, as well as the closing date for the house is one year later, so I donot need include this in the POF?

Thanks in advance!

Best

 

[Bessem Bejaoui]

Hi everybody, I need help! I received a letter of interest from Ontario under the French speaking skilled worker stream and among the documents required, a bank statement with the equivalent of 22000 CAD. I had a bank account but I closed it. Now I have opened a new one recently in another bank with the amount needed.But in this case I don't can't have a 3 month bank statement.If I have to wait for 3 months the Ontario PNP will expire after 30 days.Please tell me what to do! !

 

[bago4c]

I just got an ITA today. I am a student in Canada and I work as a research assistant at the University with an income of $22,000/year. I also work as a student assistant in another office at the University. Can I use my official letter of employment as proof of funds for FSW? I am worried I don't have up to $12,200 in a month. Or is it possible to use the letter and any amount I have in my bank statement?

 

[DelPiero07]

I just got an ITA today. I am a student in Canada and I work as a research assistant at the University with an income of $22,000/year. I also work as a student assistant in another office at the University. Can I use my official letter of employment as proof of funds for FSW? I am worried I don't have up to $12,200 in a month. Or is it possible to use the letter and any amount I have in my bank statement?

You cannot, you must have all the required funds when you submit your eAPR.

 

[bago4c]

You cannot, you must have all the required funds when you submit your eAPR.

Thanks

 

[Rk Gunner]

Hey guys.. Are there anyone living in US or any foreign country and are trying to get funds transferred from their home country for POF?..

I just learned today that there is no such law that permits transfer of money from Nepal to USA. My parents were planning to transfer the necessary funds from Nepal. Now I am totally stuck. Everything is ready except my POF.

Is there anyone who is in similair situation?

Please help. Thank you

 

[Kazem]

Hi everyone.

Can my bank account go below the minimum threshold during my application process or is it fixed when I sent them the application?
Further, is the exchange rate counted as the prevailing rate at the time of application submission, or does it fluctuate as per actual?

I am at NA2 now since June 27th. Detailed timeline below:

AOR = 11th May
Meds = 26th June
IP1 = 27th June
NA2 = 27th June

 

[Prats6]

Hi guys,

Just wondering for the Proof of Found, should I show my pre-approved mortgage? I asked the guy in TD Bank, and he said we are not considered having an account in TD, and personally he cannot issue the official letter to show this loan.

I am thinking, this is pre-approval only, I am not actually owing anything yet, as well as the closing date for the house is one year later, so I donot need include this in the POF?

Thanks in advance!

Best

Nope, no need. You don't owe anything.

 

[Rise and shine]

Hi all, I am yet to receive ITA, still trying to figure out about the funds part. Is it okay to deposit 75% of the funds to my account at once. I already have the rest in my savings account. My mother will be depositing the rest. Does she have to show any proof for funds?
It was a FD, just matured and she is ready to deposit that. So, my doubts are do I have to show that is a gift deed now itself? Or later, after ITA, I can get letters?

 

[crescent_jam]

Hi all, I am yet to receive ITA, still trying to figure out about the funds part. Is it okay to deposit 75% of the funds to my account at once. I already have the rest in my savings account. My mother will be depositing the rest. Does she have to show any proof for funds?
It was a FD, just matured and she is ready to deposit that. So, my doubts are do I have to show that is a gift deed now itself? Or later, after ITA, I can get letters?

Hi Rise and shine,
If I'm to understand your situation correctly, your mother is depositing the funds from an FD, that was in her name, to your savings account, and this will account for 75% of your funds being shown as proof?

If that's the situation and, assuming you get an ITA soon, I believe you will need to get a Gift Deed to show that the funds from your mother are being gifted to you and will not have to be returned, so you are free and clear to use them for settlement purposes. If CIC sees that large single deposit to your account in the letters and statements that you'll need to provide as proof, they're going to want to know where it came from, and you need to provide evidence that it was gifted to you with no conditions attached. Otherwise they may be suspicious that you got a loan from someone to try to get to the threshold (some people apparently try to do that) which isn't allowed...

 

[Rise and shine]

Hi Rise and shine,
If I'm to understand your situation correctly, your mother is depositing the funds from an FD, that was in her name, to your savings account, and this will account for 75% of your funds being shown as proof?

If that's the situation and, assuming you get an ITA soon, I believe you will need to get a Gift Deed to show that the funds from your mother are being gifted to you and will not have to be returned, so you are free and clear to use them for settlement purposes. If CIC sees that large single deposit to your account in the letters and statements that you'll need to provide as proof, they're going to want to know where it came from, and you need to provide evidence that it was gifted to you with no conditions attached. Otherwise they may be suspicious that you got a loan from someone to try to get to the threshold (some people apparently try to do that) which isn't allowed...

Thank you for replying. I can also get proof from my mom's account. We both hold accounts in the same bank.
And what I understand is that, at a later stage I can get a proof of gift deed from my mom.
Also does liquid balance or FD make any difference at all as POF?
Thank you very much for kind reply.

 

[Hazel75]

Hello,

Can anyone please help me with this question. I've got the ITA and now am preparing POFs documentation. I've got the bank letter, 6 months statements stamped and everything else. However, 3 months ago, my father transferred $9,000 to me from his own account in Vietnam. At that time I wasn't aware of getting a gift deed, and now I am not able to go back to Vietnam to do it as well. Is there any way to prove that my father gifted that amount to me?
Please help, 'cause my deadline is very close. Thank you.

 

[lino82]

Gift deed is written by the one who gifts right..
so you could ask him to go to an attorney and draft a gift deed at the earliest stating he had gifted you $9000 by way of bank transfer on said date out of love and affection & he doesn't expect you to return it to him and that he has gifted it to you for you to use for any purpose that you may find suitable..(the attorney will have a standard wordings ,if not draft one on this line )...
get it notarized and ask him to post it to you....
--
certain places it is required that the recipient also sign on the gift deed... however as u can't do that ,you may write an LOE stating why u can't do..
--
So it may not be a gift deed per session and is more like an affidavit by ur father...but it should work...
also collect his bank statement showing the debit towards the transfer/withdrawal properly sealed/stamped from bank