Proof of Funds (Express Entry)

[hemanthsamayam]

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?

If you have sufficient funds for period of 6months that would suffice. You can provide bank letter and 6 months statements

 

[hemanthsamayam]

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.

As long as it is through proper gift deed and affidavit and genuine you can do it anytime.

 

[RPS92]

If you have sufficient funds for period of 6months that would suffice. You can provide bank letter and 6 months statements

I don’t. For fifteen days I had lower than 12475 CAD. However I recovered this money back within 15 days and hence submitting the affidavit. Hope it works!!

 

[visaapplicant]

Is bank statement required for POF? Or just bank certificate?

 

[hemanthsamayam]

Is bank statement required for POF? Or just bank certificate?

In instructions Bank certificate alone is mentioned but sometimes they ask bank statements too in ADR

 

[hemanthsamayam]

I don’t. For fifteen days I had lower than 12475 CAD. However I recovered this money back within 15 days and hence submitting the affidavit. Hope it works!!

I don't think that would be a problem bud

 

[Krishna008]

Hi,

I have funds in Bank of America USA. They have given me a letter stating the balance. But they refused to include balance of 2 credit cards which I have from the same bank. Can I provide credit card statements for six months instead.

Thank you,
Krishna.

 

[cansha]

Hi,

I have funds in Bank of America USA. They have given me a letter stating the balance. But they refused to include balance of 2 credit cards which I have from the same bank. Can I provide credit card statements for six months instead.

Thank you,
Krishna.

Yes. However you don't need to show last 6 months credit card statement. Current month statement will show your outstanding balance.

 

[gauravmlal]

Respected Members,
I have a query regarding the role of witness in the gift deed. Who can be a witness in a gift deed ? Can a family member other than the donor fill the role or he/she has to be anyone outside the family?
Thanks!

 

[Kdhindsa95]

It is clearly mentioned that the funds should be your own, free to use and should not be taken on loan. If the funds are from a loan, you are expected to repay it; and this is not something the CIC looks for.

I would suggest taking the funds from your parents/siblings and get a gift deed mentioning that the funds are for your use and they are not expecting them back.

If my make gift deed from parents. Does these still need to be 6 months old . Or that doesn’t matter if i jss take it. Make a fixed deposit to my bank and use statement for cic??

 

[Mehrdad2275]

Hi friends
I have a problem regarding the proof of funds letter.
My bank is refusing to put equivalency in CAD nor they are willing to mention the average balance for the last 6 months.
They suggest that they can print me official statements for each of the past 6 months and attach to a letter mentioning the details of my account including the opening date of the account and the current amount inside.
Then i was advised by a friend to write a LOE mentioning the CAD equivalency and the average balance for the past 6 months and attach to the bank letter (totaling to 8 pages).
Any one had a similar problem? Any suggestions? Thanks
Bank letter and statement example is attached:

https://ibb.co/ekA9dK

 

[Gaurigauurav86]

I have the same problem. I parked a lot of money in OD account. I have now transferred that to a normal account. But will it suffice ? What's your experience ?

Did you get the answer, about this overdraft account? I also have the same problem. Please let me if you know the answer. Thx

 

[DelPiero07]

Hi friends
I have a problem regarding the proof of funds letter.
My bank is refusing to put equivalency in CAD nor they are willing to mention the average balance for the last 6 months.
They suggest that they can print me official statements for each of the past 6 months and attach to a letter mentioning the details of my account including the opening date of the account and the current amount inside.
Then i was advised by a friend to write a LOE mentioning the CAD equivalency and the average balance for the past 6 months and attach to the bank letter (totaling to 8 pages).
Any one had a similar problem? Any suggestions? Thanks
Bank letter and statement example is attached:

https://ibb.co/ekA9dK

You dont have to get the equivalency, no idea why you think you are required to get it.

 

[LTheanine]

my bank only provides a year to date statement of account. Is that alright (it covers more than 6 months and yes this post might sound stupid but i am jusy paranoid about this, as they may ask why am I submitting more than 6 months if all they are asking for is 6 months)

 

[cansha]

my bank only provides a year to date statement of account. Is that alright (it covers more than 6 months and yes this post might sound stupid but i am jusy paranoid about this, as they may ask why am I submitting more than 6 months if all they are asking for is 6 months)

It doesn’t matter. Go ahead and submit what you have.