Proof of Funds (Express Entry)

[Jommie]

Good day,

I have a question regarding proof of funds. I currently have 11k CAD on my savings account and 1.5K CAD on my payroll account. I am planning to use both accounts for proof of funds. The thing is i will be using my payroll account to fund my medical and processing fees right after i asked for a bank statement.
Is it ok that i will deduct money on my proof of funds after giving cic the required bank statement?

Thank you

 

[dukkibanna]

Hi All..... Can Someone please advice me regarding the POF
I got my ITA..and have gathered all the required docs except the Proof of Funds and targeting to 15th dec…

I have a joint account with my Wife in which I had deposited 8 lakh (received from someone owed me) just 15 days before I received the ITA before that it was just 10K in account
I was planning to show my and my wife’s salary account as the rest of the POF (remaining 5 lakh).
In joint account I don’t have the balance maintained for 6 month… So my questions is which of the below option I should opt:

a) Transfer the joint account money to my fathers account and get it in my salary account as gift deed and not show the joint account…. or..
b) Give the statement of the joint account as it will be 2 month old the day I submit the my application


the Problem with the first approved is that the gift deed will be approx 70 of Total POF....

 

[shariqkhan]

Hi - if someone can help me with proof of funds for express entry -

i m a student studying in australia - and applying for express entry from australia - can my dad gives me money to show as a proof of fund - if yes -

should the amount be in Australia or it can be in my home country account - which is on my name in Pakistani bank - ( as due to money laundry crack down - its hard to transfer money from Pak to Aus )

and if i transfer for instance 15000 cad into my account from my dads account - do i have to wait 6 months in order to apply as a express entry applicant ?

please let me know guys -

thanks -

 

[Choosen]

Hi guys,
For POF, is it okay to show just the letter of my savings account?
I work in the bank where my current account is and it could be very difficult to get the letter.
Thanks for your advice !

 

[Stephenmoka5]

I have problems with the funds part, the money I got are earned online and legitimate. They are much like $1200-$2000 per day, the sources are weird i.e YouTube + Sport bet at least $1000 a day from sport bet(pro bets). I have the receipt of payment and funds are 100% mine and available. Is this allowed.

 

[luckydentist1982]

hello experts. i have one question about POF. i have my bank statement with last 4 months that covers the minimum amount of requirement of cic. However , the first two months showed 3000 CD less than required. is it ok or i need to sell some golds and add its value with all supporting documents to compensate the shortage in the first two months of the statement

 

[sam3218]

hello experts. i have one question about POF. i have my bank statement with last 4 months that covers the minimum amount of requirement of cic. However , the first two months showed 3000 CD less than required. is it ok or i need to sell some golds and add its value with all supporting documents to compensate the shortage in the first two months of the statement

That's fine.

 

[Captmario]

Hello,

For proof of funds, my bank only issued a bank maintenance letter and 6 monthly bank statements. They refused to provide any sort of written refusal for other documents.

Issue is that the bank maintenance letter only contains my account number, opening date, account title, branch name, national identification number (not passport no.) sign and stamp. However it does not have bank contact details or closing balance or any other information.
Furthermore they only issued bank statements on blank paper instead of letterhead, they did sign and stamp the first and last page but white paper is not a reliable way of things.

Can anyone guide how i can proceed from here in shortest possible time so i don't go past submission deadline?

 

[dhruvinho]

Hi,
I have received an ITA, and have an account with an Indian bank that is linked with Auto Sweep. That is, the excess cash above a limit gets converted to a term deposit (FD).

Thus, my last 6 months balance shows very little money on a regular basis, as most of the amount has gone into creating these FDs automatically. I have got the certificates for all these FDs from the bank, and the bank letter mentions the available closing balance as well (including FDs).

Will the Canadian authorities have any doubt about this? Should I break the FDs?

Thanks!

 

[Zayynah]

Hello friends
I have had PKR in my joint account as POF for over 6 months. Account hasnt been used for anything else. However we feel that for later, hopefully incase of PR/travelling, it will be easy to transfer funds in USD.

No PR received yet....can we open a foreign currency account and transfer this money into it, ensuring the minimum requirement for our family is still maintained?

Will we need to raise CSE in this case and provide details/documentation?

 

[hitesh0414]

Hi,
I have received an ITA, and have an account with an Indian bank that is linked with Auto Sweep. That is, the excess cash above a limit gets converted to a term deposit (FD).

Thus, my last 6 months balance shows very little money on a regular basis, as most of the amount has gone into creating these FDs automatically. I have got the certificates for all these FDs from the bank, and the bank letter mentions the available closing balance as well (including FDs).

Will the Canadian authorities have any doubt about this? Should I break the FDs?

Thanks!

FD's are happily accepted by IRCC. Just get the bank letter for FDs with all details as required by IRCC. If you wish you can explain in Letter of Explanation about the source of money for FD's.

 

[Jommie]

Good day,

I am currently uploading requirements on my CIC account. I requested both bank certificate and bank statement on my two accounts. I want to ask where should I upload the bank statements? Should i upload it together with the bank certificate or is it better to upload it as opptional documents?

Thank you.

 

[Captmario]

Good day,

I am currently uploading requirements on my CIC account. I requested both bank certificate and bank statement on my two accounts. I want to ask where should I upload the bank statements? Should i upload it together with the bank certificate or is it better to upload it as opptional documents?

Thank you.

Just put it under POF section as a single document, Certificate followed by bank statements (Normally statements are provided only if certificate lacks certain information)

 

[SeniorStakes]

Hi,

I am from India and I have a question regarding proof of funds. CIC wants financial institution to list the average monthly balance across six months. Thus, is it okay if I keep three times the required money, but only for two months? For example, I am going to get annual bonus from my organization of around 30,000 CAD in late Jan, in addition to monthly salary of 6000 CAD. Is it okay if I keep this money in my account for just couple of months and meet the six month average balance reqyiremere? I keep moving funds around and typically keep only 500 CAD in my salary account.

I can do an FD too and should my income as proof of funds. Please advise the correct approach.

 

[Ronak Ram]

Same query. Has this question been answered here? Please help.