Proof of Funds (Express Entry)
- Thread starter ThisIsHoof
- Start date
Investment in stocks or mutual funds is not considered for proof of funds. If you read the proof of fund guidelines on ITC website they have stated this clearly. Only money which is readily available can be used as proof of fund
Friends i have a doubt in pof. I was staggering the required amount in an over draft account [my housing loan account for interest benefits]. Now i have transferred all the amount to my salary account. is it required to show the 6 months transaction in my over draft amount? or is it enough to explain the fund transfer in letter of explanation.
Please advise
Please advise
Good day,
My crs score is currently at 425, I am expecting to receive an ITA by December because my work experience would sum up to 3 years. My question is, Is it ok to reach the required proof of funds days before you receive an ITA because I am getting my funds on my salary and I am depositing a certain amount monthly or do I need to explain it? Another question would be if it is ok to get the processing and permanent resident fees on my proof of funds?
Thank you in advance.
My crs score is currently at 425, I am expecting to receive an ITA by December because my work experience would sum up to 3 years. My question is, Is it ok to reach the required proof of funds days before you receive an ITA because I am getting my funds on my salary and I am depositing a certain amount monthly or do I need to explain it? Another question would be if it is ok to get the processing and permanent resident fees on my proof of funds?
Thank you in advance.
1. It is ok to reach the required proof of funds days before you receive an ITA. You only have to explain the source of the income in your LOE. When you get your invite, simply take screenshots from your 6 month bank statement of all the lump sum fund influx and explain each transaction.
2. Even i want to know --- is it ok to get the processing and permanent resident fees on my proof of funds?
Hi all,
Please I need some advice urgently here! In my bank account I had more than sufficient funds as stated for settling by CIC but in one month I transferred a huge amount to my father's account for investment which he returned to me 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 which I have payslips and tax returns. Should I also submit an LOE for this?
Please I need some advice urgently here! In my bank account I had more than sufficient funds as stated for settling by CIC but in one month I transferred a huge amount to my father's account for investment which he returned to me 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 which I have payslips and tax returns. Should I also submit an LOE for this?
I had a query about joint FDs. Is a joint FD (not a joint account , but a joint FD ) held with father , with both our names on the FD certificate acceptable as POF ? If not , would a signed self declaration by him that the amount is free for my use make it valid ?
Question re POF.
Is it okay to have the POF after ITA? I mean, it will be thru gift deed. My mother intends to deposit some money to my account after I receive an ITA. Thanks.
Is it okay to have the POF after ITA? I mean, it will be thru gift deed. My mother intends to deposit some money to my account after I receive an ITA. Thanks.
If you have sufficient funds for period of 6months that would suffice. You can provide bank letter and 6 months statements