Proof of Funds (Express Entry)

[jguan0530]

How old do these bank letter need to be at the time of AOR? If their issue date is before ITA, are they acceptable?
I haven't been drawn yet but my score is relatively high. I pretty much have all of the supporting documents in hand already.

 

[keeratsingh]

hey guys! i mentioned in my profile that i have 16000 cad in my account. in fact i have got just a 1000. i plan to sell a couple of my things which would easily pay me upward of the sum that i mentioned in my profile. however, the question is, can this potentially turn against me as a case of fraud. if so, i need to immediately withdraw my application. any help would be highly appreciated. good luck to all.

P.S. reason i didnt kept the funds is that i dont want to sell my belongings without solid grounds

No this won’t be a fraud. In any case once you receive ITA you will have to show funds in your accounts for PR application. It is at that time that you will have to worry about funds. This is just a general declaration as part of minimum requisites so you’ll be fine.

 

[MalenaTee]

1). Bank issues two kinds of letter. one is called account maintenance certificate(Which you got) other is balance certificate in which current balance is mentioned. Ask your bank for this letter.
2). If its two tri-month statement than last date of first statement and starting date of second should be in sequence.
3). If you have money in bank from the past six months than you don't need to show your salary slips but if you upload it it will be OK.

Regards

Dear Hasan, maybe you can help me as well My bank only issues statements every 3 months. So I have the last ones until 30 of March, but I am applying now (in May) and my bank letter is for May date. Do you know if the difference will be the problem? Or can I just send the last available balances? How should I got about that?

 

[blackh0le]

Need urgent help. Im married but spouse is non accompanying. Almost 50% of my pof is coming from my father in law.

What's my best course of action to show show the money from father in law as pof?
1. Direct gift deed to me?
2. Gift deed to wife in a joint account and a letter from her that i can use that money?

Experts, could you please advise?

 

[fmk8890]

Experts, could you please advise?

I would suggest the direct gift deed route. The amount should be transferred to your account (direct transfer or cheque, whichever is applicable in your case).

 

[blackh0le]

Yes, but the important question is, Is a gift deed from Father in law is OK ?? or it should be from your Parents only ??

 

[aanwar11]

Hello
I got my invitation to apply today for permanent residency today. I have to important concerns:
1: I got my bank statement issued on 3 March 2018. Can I still use that bank statement or I have to get a new one? I don't think my bank will give me a statement again.
2: I am currently working in Canada and my work permit is going to expire on July 7 2018. The process time of Canadain experience class profile is 57 days as of now. Can I stay legally in Canada to wait for express entry decision? or I have to go back to my country?

 

[Apex_Sid]

Any successful cases of PPR with Stocks and Mutual funds as part of Proof of funds. Kindly help as I don't wish to liquidate my holdings.
Are they accepted as proof of funds?

Thanks!

 

[krugger2009]

Guys, I requested Wells Fargo and all they provided me was a letter with their contact details, my home address, account number, the date on which account was opened, and current balance with a sign and name of a banker.

They did not provide me an average balance. I have already submitted my application with only this as my POF proof.

Will this be an issue? Do anyone know previous applicants who had this situation and PR was granted without any problems?

It will be much appreciated if someone can kindly help me with this.......

Hi Aang,
Were you able to get a solution for this. One bank is giving only a 12 month average and other only the current balance.
Thanks,

 

[keeratsingh]

Any successful cases of PPR with Stocks and Mutual funds as part of Proof of funds. Kindly help as I don't wish to liquidate my holdings.
Are they accepted as proof of funds?

Thanks!

Stocks not acceptable for sure. Mutual funds are acceptable. I am also going ahead with them without liquidating.

 

[nanak111]

Hi
I just submitted and paid for my EE application without the letter from my bank. I totally forgot. Is there a way I can call and submit. What should I do? I'm scared

 

[sam.devilz19]

No, it will not raise any eyebrow since the money is way pass 6 months in your account. The requirement is to show a bank statement for the pass 6 months.
So the money can be used as your POF.

I'm a prospective applicant for Express Entry - 2018 as I still haven't made a profile yet. Recently got my ECA done by WES and got positive assessment. Now I am moving towards collecting various documents needed for the process and one of which is Proof of Funds.


Doubts:


- Does CIC ever ask the applicant to provided bank statements older than 6 months? If so, then how old? A year?


- I've heard that CIC also accepts gift deeds from siblings/parents. What if the money has been transferred and have stayed in the primary applicant's account for more than 6 months. Do we still require gift deed?


- Can a personal loan taken about 6 - 8 months prior to the day we generate bank statements be shown as proof of funds?


- What if a person has been saving money from his personal business say, 4-5 lakh as cash and now he wants to show it as funds? How can he show such money as his PoF?


- I believe CIC can also accept Fixed Deposits as proof of funds. What if such cash amount or the loan amount be put in fixed deposit and made it stay there for more than 6 months? Could it be shown as PoF?

 

[Hasan Raza Awan]

Dear Hasan, maybe you can help me as well My bank only issues statements every 3 months. So I have the last ones until 30 of March, but I am applying now (in May) and my bank letter is for May date. Do you know if the difference will be the problem? Or can I just send the last available balances? How should I got about that?

1) If you have money in your account for the last six months, than ask your bank you mention average balance for the last six months on that letter. In this case you don't need to upload bank statement.

2) If your bank refuses to give you average six months balance on your letter than upload the statements for the past six months i.e till March 30 and explain it in LOE. And better to get a letter from bank that they only provide statements after three months.

Regards

 

[okmateus]

Hi guys!
I am gathering all docs to finalize my application asap, since I got ITA on April 25.
Regarding proof of funds, I have 200,000 reais in my bank account, which is more than enough considering EE requirements.
Do I need to provide this information in CAD or BRL? In other words, which currency should I use?
Thanks in advance.

 

[mhk16]

Hi all,

Regarding the lump sum amount: in 2015, I had saved around 2 lac rs (from my previous job) and loaned that amount to a friend. Now the accounts in which this transaction took place are both closed (I cant retrieve any transaction proof if i want to).
And my friend has returned the amount in one go (2500 CAD), in the same account which i will be using for Proof of funds.

I might get an ITA in any of the next 2 draws. I dint know that any lumpsum added in the last 6 months might result in Fraud case as never thought of it that way.

But now um really scared for January and May, as my monthly closing balance comes out to be:

Before January: 4000 CAD
January: 6300 CAD (2300 CAD added from last year's savings+Bonus)
February: 7400 CAD
March: 8000 CAD
April: 8300 CAD
May: 10800 CAD (2500 CAD already added)
Was Planning to add, so it could be in June: 12600 CAD

-Has someone else been in the same situation?
-I cant show a gift deed as this transaction was done by a friend or can I?
-Can someone please help me and suggest any kind of explanation that can go through, as this money was initially mine hard earned money only, but there is no proof of it now!
P.S. No transaction is more than 25% of the minimum funds required(12k CAD) Can this fact rather help me in this situation.

Really freaking out as this is the only account i can show. TIA.