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Proof of Funds (Express Entry)

tichupichu

Star Member
Jun 6, 2017
118
29
Hi .. is it okay if I show half funds in my account and half in my spouse account ?

yes you can. Here's the official statement:
"If your spouse is coming with you, you can count money you have together in a joint account. You may be able to count money in an account under their name only, but you must prove you have access to the money."

http://www.cic.gc.ca/english/immigrate/skilled/funds.asp
And for the purpose you get an NOC signed by your spouse for the usage of funds.
 

tichupichu

Star Member
Jun 6, 2017
118
29
Hello guys. I need an expert view on my situation. I have a fixed deposit of 10 000 USD (will be able to provide last 6 months history/average) which is not enough for two applicants. Thus i am planning to open a new account in which i will have apprx. 4 000 USD (since it is new will not be able to show 6 month average). In the end, together it is more than enough for 2 persons.

1. However can it be a problem to not be able to provide 6 months average for second bank account?
2. If yes, what do you recommend? should i document it as a gift from parents? Do they ask for 6 month average in this case also?
You have to prove six months balance for the minimum required amount for 2 persons. If there is anyshortfall, Get a gift deed by your preferably by your immediate relative.

A sudden credit should always be appropriately supported
 

tichupichu

Star Member
Jun 6, 2017
118
29
Hi - i am providing proofs for two banks, but both have their set of issues

bank A - I have a bank letter which is almost two months old i.e. Issued in September? I can add bank statements for the past six months but they would have been online downloads, would not have any sign or anything. Also these are savings/fixed accounts so there is not a lot of movement in these accounts
Would these cause any issues?

Bank B - they have agreed to give me a standing letter with my current balance on my savings account. but they are refusing to furnish any details of my outstanding personal loan (expiring 2019). is this a mandatory detail? what else can i give as proof for loan?

also neither of my two bank letters are mentioning average balance

Bank A: You need a latest bank letter with all the required details. Bank Statements should be signed and stamped by the bank. Online bank statement is generally not acceptable for visa purposes. even if there is no or less movement, bank letter should be recent.

Bank B: you need to disclose the loan amount. Ask your bank to provide you a liability letter stating the outstanding amount. No Bank should refuse it.


Banks dont give Average balance for six months normally, six months bank statement would be enough.
 

kanu

Hero Member
Feb 26, 2015
366
263
Category........
FSW
NOC Code......
2281
So guys what if I dont have the money in my savings accounts but parked in FD's and Mutual Funds?
Are Mutual Funds statements accepted? I saw this as an acceptable POF in ONIP document. Also If I show in FD's that I have enough POF along with a bank letter showing my accounts in the bank with date of opening and balances. Do I still need to show my bank statement for my savings accounts for 6 months, as there are not many major transactions in that account?
Please suggest
 

tichupichu

Star Member
Jun 6, 2017
118
29
So guys what if I dont have the money in my savings accounts but parked in FD's and Mutual Funds?
Are Mutual Funds statements accepted? I saw this as an acceptable POF in ONIP document. Also If I show in FD's that I have enough POF along with a bank letter showing my accounts in the bank with date of opening and balances. Do I still need to show my bank statement for my savings accounts for 6 months, as there are not many major transactions in that account?
Please suggest
FD is acceptable and if you can prove the six months through FD start date / bank letter than six months bank statement is not required.
I think if mutual fund's principal amount is not fluctuating (as the case with some types) then that can also be accepted.

But you need to disclose you liabilities anyways.
 
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kanu

Hero Member
Feb 26, 2015
366
263
Category........
FSW
NOC Code......
2281
FD is acceptable and if you can prove the six months through FD start date / bank letter than six months bank statement is not required.
I think if mutual fund's principal amount is not fluctuating (as the case with some types) then that can also be accepted.

But you need to disclose you liabilities anyways.
Great, My FDs are more than 1 year old so the bank letter will state that and I can download the deposit slip and get it stamped from the bank.

MF are tax saving so the are not much fluctuating but they have appreciated by around 20 % approx since inception and I am doing SIP so its increasing monthly. So should I consider the invested amount as the POF or the current balance with all the profits.
Also just online statements will work as I am not sure if I can get them signed and stamped from anywhere.
 

tichupichu

Star Member
Jun 6, 2017
118
29
Great, My FDs are more than 1 year old so the bank letter will state that and I can download the deposit slip and get it stamped from the bank.

MF are tax saving so the are not much fluctuating but they have appreciated by around 20 % approx since inception and I am doing SIP so its increasing monthly. So should I consider the invested amount as the POF or the current balance with all the profits.
Also just online statements will work as I am not sure if I can get them signed and stamped from anywhere.
If you can prove that the amount will not deteriorate (showing the nature of MF) than I think you can claim that but Stamped statement will be required. your Fund Manager should be able to stamp the statement for you.
 

rao_hamza

Full Member
Mar 5, 2017
45
8
yes you can. Here's the official statement:
"If your spouse is coming with you, you can count money you have together in a joint account. You may be able to count money in an account under their name only, but you must prove you have access to the money."

http://www.cic.gc.ca/english/immigrate/skilled/funds.asp
In context of the statement:
You may be able to count money in an account under their name only, but you must prove you have access to the money.

Will notarized affidavit from spouse, suffice? Stating that you can access to the money.
 

kanu

Hero Member
Feb 26, 2015
366
263
Category........
FSW
NOC Code......
2281
If you can prove that the amount will not deteriorate (showing the nature of MF) than I think you can claim that but Stamped statement will be required. your Fund Manager should be able to stamp the statement for you.
Hmm. Not sure how can I get in touch with the find manager. I will ask the banks from whom I have taken the SIPs to see if they can help me in this.
 

tichupichu

Star Member
Jun 6, 2017
118
29
In context of the statement:
You may be able to count money in an account under their name only, but you must prove you have access to the money.

Will notarized affidavit from spouse, suffice? Stating that you can access to the money.
For accompanying Spouse, Only a simple NOC signed by her would be sufficient. No need to Notarize it.
 

Vishu14

Member
Nov 8, 2017
14
1
Hi. I have an issue regarding proof of funds. My mother gifted me the amount in september and right now she is visiting my brother in Canada. She does not plan to return soon. Can i get the gift deed made from canada. It needs to have both my mother's and mine signature. Can i upload it without it and explain in the LOE? And what is the difference between Gift deed and affidavit. Do i need to have both?
 

Hasan Raza Awan

Star Member
Jul 10, 2017
96
14
Hi. I have an issue regarding proof of funds. My mother gifted me the amount in september and right now she is visiting my brother in Canada. She does not plan to return soon. Can i get the gift deed made from canada. It needs to have both my mother's and mine signature. Can i upload it without it and explain in the LOE? And what is the difference between Gift deed and affidavit. Do i need to have both?
You can have gift deed from your mother right now before her departure, if you intend to apply now.
 

nsbhullar

Hero Member
Nov 26, 2014
205
57
INDIA
Category........
Friends, I have sold the property, so in my account 3 to 4 transactions of big deposit are their, of around 19 lac. SO how should I explain this to IRCC and what proof I need to submit.