Proof of Funds (Express Entry)

[Aady07]

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/

Please go through section 15 and IMM5612E.
You must be able to use this money to pay the costs of living for your family.....so FD suffices not to be a six month old constraint.

 

[uppperkut]

Please go through section 15 and IMM5612E.
You must be able to use this money to pay the costs of living for your family.....so FD suffices not to be a six month old constraint.

You can make a FD with borrowed money. Liquid cash is one thing, showing the money is yours and not borrowed is another. I'm afraid you're giving wrong advice here.

 

[Aady07]

You can make a FD with borrowed money. Liquid cash is one thing, showing the money is yours and not borrowed is another. I'm afraid you're giving wrong advice here.

Mate, you've taken this discussion to a different tangent altogether. Look at the question asked and answers given.

And people who advice, definitely they have gone through the similar situation. Unless, it's been experienced, nobody will advice. So I guess, you need to use the right set of word before dissecting the answers.

Thanks.

 

[Mkhan22]

Question regarding proof of funds
My mother gave me the amount through cross cheques and a gift deed is made. Now my bank statement is showing only the cheque number but not her account number. Do I have to provide cheque copies in this case ? I already have deposited the cheques and I dont have copies now. What should I do in this case
Plz help.

 

[uppperkut]

Mate, you've taken this discussion to a different tangent altogether. Look at the question asked and answers given.

And people who advice, definitely they have gone through the similar situation. Unless, it's been experienced, nobody will advice. So I guess, you need to use the right set of word before dissecting the answers.

Thanks.

No reason to be offended. I have shown you a post (there are many others) where other experienced members of this forum have advised that an FD that is not 6 month old need a supporting document to show where the money came from. I don't see the reasoning behind your advice - hence why I disagree.

 

[Aady07]

No reason to be offended. I have shown you a post (there are many others) where other experienced members of this forum have advised that an FD that is not 6 month old need a supporting document to show where the money came from. I don't see the reasoning behind your advice - hence why I disagree.

Mate, I do not require to see a post. See my earlier post. I've mentioned, one advices out of experience. As in, if the person has gone through similar situation, then only they can comment. I do not comment unless I've gone through the similar situation.

Offence is meant, when somebody gets judgemental. Let's not take it further.

 

[Aady07]

I don't see the reasoning behind your advice - hence why I disagree

I don't understand, why would someone convert his/her cash in account into FD for this POF purpose whereas the bank balance is enough. The reason people go for FD and Gift deed coz, they manage the funds from somewhere and get it converted into these negotiable instruments. These instruments get made, not over the period of six months but at the verge of filing tge application after ITA. IFSS is bothered about your own liquid funds and FD, once cashed out, it's your own money.

 

[Aady07]

Question regarding proof of funds
My mother gave me the amount through cross cheques and a gift deed is made. Now my bank statement is showing only the cheque number but not her account number. Do I have to provide cheque copies in this case ? I already have deposited the cheques and I dont have copies now. What should I do in this case
Plz help.

Please attach your mother's bank statement. It will match with your bank statement.

 

[uppperkut]

I don't understand, why would someone convert his/her cash in account into FD for this POF purpose whereas the bank balance is enough.

I don't know either, but there's nothing preventing someone from borrowing money and converting it to an FD to show POF. They can pay that money back when they get their PR.

The same can be said about a gift deed, but the gift deed is supported by an affidavit while an FD made of borrowed money is not.

 

[uppperkut]

I do not comment unless I've gone through the similar situation.

This is not usually the case when we give advice here. We didn't go through every single case ourselves, but we've seen others giving advice based on their own situation. Being part of this forum for a long time makes it easier for us to give advice having read lots of posts.

P.S. I wasn't being judgemental of you as a person. I don't think you have any bad intention. I'm just saying that the advice you're giving is not inline with any of the other advices I've seen on this forum.

 

[JayashreeGowda]

I just received my ITA.
Please if you can help me with below queries:
1> My IELTS expires on 11th July? Will I be safe if I submit by eAPR by 25th June? Will I not need to give IELTS again?
2> What if I show provident fund and FD's only for POF. Are Employer contribution and employee contribution both considered for POF? AreFD's from co-operative bank in India valid?
3> I have 10+ years of experience and with the same company. There is no way my company will provide reference letter. I do have all my offer letter, promotion letters, form 16 and a bona fide letter indicating my designation and joining date. I also have a reference letter from 2009 which I had used for Australia PR.
Will this be sufficient to show my experience?

Hi did you submit the PoF from the cooperative bank ? And was it accepted??? I am planning to do the same too.

 

[Yacin_0107]

Hi everybody, Can you help me please. Should I present my bank statements even if I'm not the primary applicant, knowing that my wife's account is sufficiant as PoF.
Thank you

 

[synora1314]

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.

Thank you so much!

 

[Aady07]

Thank you so much!

Good luck

 

[m1988z]

Hi

Anyone here has applied for Canadian PR through express-entry from Australia? If yes, how did you manage to get an official bank statement considering the fact that Australian banks don’t issue customized statement and one can only get statement via their bank’s website!

P.s. how old a bank statement can be when we submit our application?