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Proof of Funds (Express Entry)

BA_LEE

Full Member
Apr 1, 2019
43
2
Dear Experts,

While completing express entry profile there is a question regarding how much money will I bring to Canada. I have below queries regarding this question. Please help.

1. Should I mention the minimum required amount according to no. of persons here or I can mention other amount above the minimum level as well?
2. If I mention any amount above minimum level and I get ITA then I need to show POF for the amount mentioned in profile or the minimum required amount? e.g. For 4 person family, minimum fund required is 22856 CAD and I mention 23500 CAD in express entry profile. Will I be asked for POF of 22856 CAD or 23500 CAD?
3. What if the exchange rate changes and my foreign currency amount falls below 22856 CAD in impact. What will happen in this case?
4. Once I am granted PR, do i need to carry all the amount mentioned in express entry profile or minimum required amount or 10000 CAD while traveling to Canada for the first time?
Hi, just wanted to know What did you do? I'm in the same situation?
 

MWH007

Full Member
Aug 9, 2014
21
0
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?
Hi nisant,

I’m in the exact same situation. I’m in Ksa and the banks here doesn’t provide any such letters NOC so if I move to a JT account and enclose a letter with it that I moved the funds from KSA, would that work? Or I still need to provide any letters from my banks .

Plz help
 

synora1314

Member
Aug 14, 2019
13
1
Hello everyone,
I am the primary applicant and my husband is secondary. Both of us are currently in the US and my husband's bank account is in our home country Nepal. We cannot convert his account into joint account since we are out of the country. My father in-law is going to deposit the gift deed into my husband's account. Will he have to mention my name on the gift deed letter? Can my husband write an affidavit stating that I have access to his accounts(both US and Nepal) and get it notarized from a US notary? Thank you
 

Aady07

Hero Member
Jul 16, 2019
313
57
Hello everyone,
I am the primary applicant and my husband is secondary. Both of us are currently in the US and my husband's bank account is in our home country Nepal. We cannot convert his account into joint account since we are out of the country. My father in-law is going to deposit the gift deed into my husband's account. Will he have to mention my name on the gift deed letter? Can my husband write an affidavit stating that I have access to his accounts(both US and Nepal) and get it notarized from a US notary? Thank you
1. No, your name is not required.
2. Yes, he may make an affidavit for the US account but for the Nepal account, the notary should bear stamp from Nepal.
 
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Sudeshna14

Member
Aug 9, 2019
17
10
AOR Received.
23-09-2019
IELTS Request
19-07-2019
Hi Everyone,

I have received my ITA last month. Have few queries regarding POF as follows:

  • My FD is a month's old and I need to submit my profile by September. Will it create any issue as it's not 6 months old. Please let me know what all documents do I need to share along with the FD receipts.
  • Do I need to show 6 months savings bank statement apart from FD receipts?
  • Entire FD is on my spouse's account. Thus will a NOC from him suffice?

Thanks..
 

medkarim

Full Member
Jun 22, 2019
32
1
Canada
Category........
FSW
Visa Office......
ottawa
NOC Code......
2133
AOR Received.
22-05-2019
VISA ISSUED...
26-11-2019
LANDED..........
19-01-2020
hello guys , i have submited my POF in locan currencey ( algerian dinar) , my POF was combined with gift deed and some money that was already in my account , today i have find out that my Pof is less than the amount which is requested by IRCC, so i'm planing to get another pof , but how i can do it ? get another gift deed with superiour amount or just keep the old gift deed intact and increase litlle bit in my settelement account with some money that i didn't have during past 6 months ?? please help
 

cansha

VIP Member
Aug 1, 2018
6,676
5,855
hello guys , i have submited my POF in locan currencey ( algerian dinar) , my POF was combined with gift deed and some money that was already in my account , today i have find out that my Pof is less than the amount which is requested by IRCC, so i'm planing to get another pof , but how i can do it ? get another gift deed with superiour amount or just keep the old gift deed intact and increase litlle bit in my settelement account with some money that i didn't have during past 6 months ?? please help
You can just add money if you have your own money. No need of a new gift deed.
 
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Aady07

Hero Member
Jul 16, 2019
313
57
Hi Everyone,

I have received my ITA last month. Have few queries regarding POF as follows:

  • My FD is a month's old and I need to submit my profile by September. Will it create any issue as it's not 6 months old. Please let me know what all documents do I need to share along with the FD receipts.
  • Do I need to show 6 months savings bank statement apart from FD receipts?
  • Entire FD is on my spouse's account. Thus will a NOC from him suffice?

Thanks..
1.FD can be as old as 24hrs which is acceptable. FD certificate is enough.

2. Six months average balance has to be mentioned on the bank reference letter.

3. Yes, a LOI from your suppose to you suffices.
 
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uppperkut

Hero Member
Jan 28, 2017
942
236
Somewhere in ON
Yes, it's a Fixed Deposit. It can be made anytime. It has no criteria for being six months old. It's a liquid asset which can be cashed out instantly.
It's not just having liquid cash. You MUST show that the money was not borrowed. That's the whole point of a 6 month average balance or bank statement. The only exception is a gift deed.

There are several threads explaining the same thing. Here's one: https://www.canadavisa.com/canada-immigration-discussion-board/threads/fixed-deposit-as-proof-of-funds.394087/