Proof of Funds (Express Entry)

[RPS92]

Hi all,

Need some advice here! In my bank account I had more than sufficient funds but in one month I transferred a huge amount to my dads account for investment which he returned the next month. How do I explain this in my POF case? Should I get an affidavit or a gift deed? The money was earned by my salary savings for

 

[nishant872]

Hello, I have a query with respect to proof of funds.
My wife being primary applicant and me being secondary applicant. Now, requisite funds are in Husbands bank account. What are the possible ways of complying with norms of proof of funds to the satisfaction of canada government.

please help.

 

[bimale4bipeople]

Hello, I have a query with respect to proof of funds.
My wife being primary applicant and me being secondary applicant. Now, requisite funds are in Husbands bank account. What are the possible ways of complying with norms of proof of funds to the satisfaction of canada government.

please help.

bank letter confirming the amount and you need to additionally provide a letter saying that you have no objection for your wife to have complete access to your funds ...

 

[nishant872]

bank letter confirming the amount and you need to additionally provide a letter saying that you have no objection for your wife to have complete access to your funds ...

NOC letter should be on plain paper signed by me? what if i open new bank account in joint names and transfer funds from my individual accnt would that be ok?

 

[bimale4bipeople]

NOC letter should be on plain paper signed by me? what if i open new bank account in joint names and transfer funds from my individual accnt would that be ok?

yeah you can open the jt. account but they may enquire about the source of funds since the account is new, so you should provide a letter explaining that you moved the money from your individual account to this new jt account

 

[atxvm08]

I have a question with respect to the POF. My bank account does not have an average of 12475 CAD over the last 6 months, but for the last 2 months out of 6 months, the average is above 12475 CAD. Is that sufficient proof of funds for a single applicant ?

Alternatively, I can add gift deed from my parents to my current balance satisfy this requirement, but by adding in gift deed, will it satisfy the requirement for average balance of 6 months to be above 12475 CAD?

 

[Mayukh Athmaram]

Hi,

"IRCC stipulates that the funds cannot be borrowed from another person and the applicant will be asked to explain any large, lump sum transfers into an account."

Is 680 CAD a large, lump sum transfer???

Is there any one where the CIC reviewer reject/refuse the application seeing that a small amount (680CAD in my case) was coming from a 'friend'?

What is the MINIMUM amount that the CIC reviewer will look at?? In my case, I have 21000 CAD in my account, (which is more than the amount stated by CIC for a couple = 15600 CAD)... but unfortunately my friend transferred 680 CAD last month --- What do i do?? should I explain this transaction in my LOE saying that my friend gave it to me

as a gift OR shall i not explain it at all?? It was actually the return of a house

rental agreement deposit for which i have no contract as proof

Any response/help is much appreciated!

 

[DelPiero07]

Hi,

"IRCC stipulates that the funds cannot be borrowed from another person and the applicant will be asked to explain any large, lump sum transfers into an account."

Is 680 CAD a large, lump sum transfer???

Is there any one where the CIC reviewer reject/refuse the application seeing that a small amount (680CAD in my case) was coming from a 'friend'?

What is the MINIMUM amount that the CIC reviewer will look at?? In my case, I have 21000 CAD in my account, (which is more than the amount stated by CIC for a couple = 15600 CAD)... but unfortunately my friend transferred 680 CAD last month --- What do i do?? should I explain this transaction in my LOE saying that my friend gave it to me

as a gift OR shall i not explain it at all?? It was actually the return of a house

rental agreement deposit for which i have no contract as proof

Any response/help is much appreciated!

That amount is irrelevant as you didn't even need it in the first place to meet the required minimum funds.

 

[Mayukh Athmaram]

That amount is irrelevant as you didn't even need it in the first place to meet the required minimum funds.

Hi DelPiero07,

As per you, I do not need to explain this amount in my LOE either?

 

[DelPiero07]

Correct, I personally wouldn't bother explaining anything.

 

[viki1805]

Hi DelPiero07,

As per you, I do not need to explain this amount in my LOE either?

That amount is irrelevant as you didn't even need it in the first place to meet the required minimum funds.

that's what that sentence means !

 

[Mayukh Athmaram]

that's what that sentence means !

Thank you very much --- So, I will not explain this amount in the LOE and hope for the best.
But, it will be the ONLY single transfer-in I do not explain in my LOE as I am explaining the other only 7 transactions into my account (5 salary entries of 850 CAD each and 2 from father as gift deeds). Is that ok?

 

[viki1805]

Thank you very much --- So, I will not explain this amount in the LOE and hope for the best.
But, it will be the ONLY single transfer-in I do not explain in my LOE as I am explaining the other only 7 transactions into my account (5 salary entries of 850 CAD each and 2 from father as gift deeds). Is that ok?

you're fine.

 

[RPS92]

Hi all,

Need some advice here! In my bank account I had more than sufficient funds but in one month I transferred a huge amount to my dads account for investment which he returned the next month. How do I explain this in my POF case? Should I get an affidavit or a gift deed? The money was earned by my salary savings

Hi Any leads?

 

[Nishita0107]

Hi Any leads?

In my case, I have only submitted the proof of funds letter stating my current balance. Nowhere in the letter have I mentioned about my transactions. The letter specified only the timeline since when I was holding an account with the bank and that it was a savings account.