Proof of Funds (Express Entry)

[AnnaBG]

Thought so.
I was looking online at how this proof of funds should look like.. there are just so many different type of docs.
Which one should be the correct one? Is there a template?

And again.. is the bank statement obligatory? My account is very active as this is my salary account.. imagine how many pages would that thing be..

 

[valsanail]

Hi guys, our funds are put on my spouse's bank account, which has a transfer history for more than 6 months. Now we plan to apply for OINP and wonder if it is possible to show funds of my accompanying spouse both for province nomination and for further CIC processing, provided that she will also make an authorization letter giving me the full rights to use the funds in bank. Will this make any issue? We would rather make a joint account, I know, but our bank refuses.

 

[JoacRy]

Thought so.
I was looking online at how this proof of funds should look like.. there are just so many different type of docs.
Which one should be the correct one? Is there a template?

And again.. is the bank statement obligatory? My account is very active as this is my salary account.. imagine how many pages would that thing be..

In terms of one specific template, the answer is no. From what I have read your letter/bank notification needs to detail all your accounts, the amounts in those accounts and the account numbers. You also need to ensure that the letter is on bank letterhead and signed by the bank manager. Unfortunately you need to provide a minimum of 6 months of transaction activity for your bank account. I know you may want to save paper but it's better to over provide information than to under provide.

Hi guys, our funds are put on my spouse's bank account, which has a transfer history for more than 6 months. Now we plan to apply for OINP and wonder if it is possible to show funds of my accompanying spouse both for province nomination and for further CIC processing, provided that she will also make an authorization letter giving me the full rights to use the funds in bank. Will this make any issue? We would rather make a joint account, I know, but our bank refuses.

Ensure the account details are on letterhead and signed by the bank manager. You also need to provide a minimum of 6 months statements.

 

[snail]

When I applied in July, my check list said i just needed the letter from a bank listing all my accounts with their balances and any loans and the average balance over 6 months. If you have an average balance on your letter you don't need to send statements. It's only complicated if you had a big lump sum that makes your average several times lower than your current balance.

My bank only gave me a balance certificate (current balance and the date they opened my account, plus any loans) and told me to send 6 months worth of COMPOSITE statements ie a final balance for each of my accounts, but not necessarily a transaction history. My proof of funds was assessed and passed. They don't care about the transactions unless there is one for $12000 paid in by "loans4u".

I think people are over complicating things and causing themselves unnecessary angst.

 

[dollcie]

Hi guys, our funds are put on my spouse's bank account, which has a transfer history for more than 6 months. Now we plan to apply for OINP and wonder if it is possible to show funds of my accompanying spouse both for province nomination and for further CIC processing, provided that she will also make an authorization letter giving me the full rights to use the funds in bank. Will this make any issue? We would rather make a joint account, I know, but our bank refuses.

To my knowledge u need to have a joint account with ur spouse.. plus if she is a primary acc holder.. you need to get a NOC (no objection certificate) from your spouse granting you full access to the acc.. as you r planning to apply for PR with u as a primary applicant..

 

[AnnaBG]

Too bad there isnt a template to use for reference.

Unfortunatelly what I did with my account was deposite 10k which were my husban's money kept in his brother account for really long time and then another 7k when we sold one of our cars.
We also made a joint bank account this month because we married recently and deposited some money in it as well.

they are all in the same bank. So when we are required to send the proof of funds, we need to provide also information about the joint account, am I right?

Also at this point, the 6 months balance breakdown will be terrible .. As much as I want to receive the ITA, I think if I do now I might get rejected due to the proof of funds thing ..

 

[StAnger]

Too bad there isnt a template to use for reference.

Unfortunatelly what I did with my account was deposite 10k which were my husban's money kept in his brother account for really long time and then another 7k when we sold one of our cars.
We also made a joint bank account this month because we married recently and deposited some money in it as well.

they are all in the same bank. So when we are required to send the proof of funds, we need to provide also information about the joint account, am I right?

Also at this point, the 6 months balance breakdown will be terrible .. As much as I want to receive the ITA, I think if I do now I might get rejected due to the proof of funds thing ..

No reason to get paranoid if you can prove that the funds are not loan.

Step 1: Get a gift deed prepared from your husbands brother for 10K funds.
Step 2: Do you have the proof of the car you sold? Prepare a affidavit that 7K was the result of car that you sold and attach all proofs.
Step 3: Show the funds available in the joint account.

Again, if you carefully plan things and support with proofs, CIC will not reject you. They make decisions based on available facts and I believe they have enough experience and they must have seen much complicated cases.

Give it a go and after all is said and done, it will be worth a try!!!

 

[AnnaBG]

thanks! really, paranoid is the word that desribes me now

 

[ajm436]

I'm applying for PR under express entry. My application has been submitted and I just received a letter from immigration saying they were concerned that I don't have enough funds to support myself on arrival in Canada. However, I ALREADY live in Canada already and work in Canada on a NAFTA work permit that is LMIA exempt. Do I still need to provide proof of funds? I've already supplied them with all of my banking documents as well as all of my work documents including my work permit showing that I work here already. Or is this a misunderstanding on their part thinking that I don't live or work here already? I have been gathering more documents to send them, including another letter from my work stating that I work here and that I'm a full time permanent employee. Any help would be great! I've call CIC help lines and I've received different responses each time.

 

[mayurpatel]

Hi All,


I have only one account in which i maintained minimum balance required since last 6 months. But its a joint account with me (PA) and my spouse. Will it be ok to show settlement fund. i have last six month average balance also. And is it compulsory to write that there is no loan or debt in that account because my bank not providing custom written certificate they are providing only inbuilt template letter which is computer generated by their banking.

 

[valsanail]

Hi All,


I have only one account in which i maintained minimum balance required since last 6 months. But its a joint account with me (PA) and my spouse. Will it be ok to show settlement fund. i have last six month average balance also. And is it compulsory to write that there is no loan or debt in that account because my bank not providing custom written certificate they are providing only inbuilt template letter which is computer generated by their banking.

according to what people claim here, joint account is ok, till it is between PA and accompanying spouse.

 

[valsanail]

To my knowledge u need to have a joint account with ur spouse.. plus if she is a primary acc holder.. you need to get a NOC (no objection certificate) from your spouse granting you full access to the acc.. as you r planning to apply for PR with u as a primary applicant..

Thank you, but our bank (HSBC) tells that they have no policy of creating joints accounts in my country. They suggested us to make an authorization letter, and told that this is 'the strongest' way that assures that I can use the money with equal rights.
Please could you clarify, regarding a NOC, is this something that we can obtain from the bank, or at the notary?

 

[AM_008]

Hi guys, our funds are put on my spouse's bank account, which has a transfer history for more than 6 months. Now we plan to apply for OINP and wonder if it is possible to show funds of my accompanying spouse both for province nomination and for further CIC processing, provided that she will also make an authorization letter giving me the full rights to use the funds in bank. Will this make any issue? We would rather make a joint account, I know, but our bank refuses.

"You cannot use someone else's account for the proof of funds. The money has to be
in your own account and must indicate your name. If you share a joint account with your
spouse or any other party, the account must indicate your name."

1000000000% True!

 

[AM_008]

Thank you, but our bank (HSBC) tells that they have no policy of creating joints accounts in my country. They suggested us to make an authorization letter, and told that this is 'the strongest' way that assures that I can use the money with equal rights.
Please could you clarify, regarding a NOC, is this something that we can obtain from the bank, or at the notary?

If they have no policy of creating joints accounts, you must withdraw money from the bank account of your spouse, and deposit these money in your personal bank account.
Also, you need to provide Statements of all these bank accounts, in order to proof the fact that money were not borrowed.
Use LOE to explain everything.

 

[valsanail]

If they have no policy of creating joints accounts, you must withdraw money from the bank account of your spouse, and deposit these money in your personal bank account.
Also, you need to provide Statements of all these bank accounts, in order to proof the fact that money were not borrowed.
Use LOE to explain everything.

Is LOE letter of explanation? I had an account at the same bank, but it was closed 2 years ago, however they said that in case I decide to open a new account for transferring the money to it, they will reopen the old one and in the balance certificate they will mention the oldest date when it was first opened, however I will have no history on it. So wouldn't it be a problem to provide documents (balance cert, bank statements) for account without any history? I thought before that if the spouse is accompanying, then there would be no issue. However, I cannot find anybody on this forum with similar issues in past, to clarify my doubts.
Please could you kindly drop me the link of the quote mentioned by you, that the funds must belong only to the Principal Applicant?
Besides, my spouse is not employed, the money she has are savings put to her accounts by her parents, so in the statements they will see the source, is that OK, or some letter also should be attached concerning that matter?