Proof of Funds (Express Entry)

[pbhanot]

Thats a relief. Thanks for your help!

Chances are that you will not be asked anything. Even if you are asked, they will look at the money you have at that point when you are landing. You should only be concerned if your case officer again send you a request to provide recent POF before PPR though chances are less.

 

[sim_11]

Hello,

Really need help asap.
My parents have deposited the cash(in lumpsum amounts) in my account as I am the primary applicant. So, I was thinking if I can ask my parents to transfer the amount in my husband's account by 2 cheques as the gift deed since he is dependent on me. But the consultant is reluctant and advising that since he is the secondary candidate, I can't show pof in his accounts. But I have read around various forums that it is fine if he is an accompanying partner and he is willing to give NOC for the same.

 

[deeps1987]

Hello,

Really need help asap.
My parents have deposited the cash(in lumpsum amounts) in my account as I am the primary applicant. So, I was thinking if I can ask my parents to transfer the amount in my husband's account by 2 cheques as the gift deed since he is dependent on me. But the consultant is reluctant and advising that since he is the secondary candidate, I can't show pof in his accounts. But I have read around various forums that it is fine if he is an accompanying partner and he is willing to give NOC for the same.

What's the problem if you get the money deposited in your account, and get the gift deed from your parents in your name?

 

[sim_11]

What's the problem if you get the money deposited in your account, and get the gift deed from your parents in your name?

Actually cash was deposited in my account, so, I am worried about that

 

[dr.josemrod]

Actually cash was deposited in my account, so, I am worried about that

Show the evidence in the deposits.

 

[Successbayo]

I am using about 4 different accounts including RSA for my POF. Do I need to insert a summary page on my POF Upload documents?

 

[yeshi2019]

Hi Guys ,

Need your suggestion. I was not aware that we need to maintain 15,722 CAD even if your spouse is not included in PR application. However I have maintained the required amount for the past 6 months, but in between the 6 months for about 8 days my account balance went behind by 10000 RS (200 CAD). Will this cause an issue while submitting my bank statement after getting ITA ?

 

[deeps1987]

Hi Guys ,

Need your suggestion. I was not aware that we need to maintain 15,722 CAD even if your spouse is not included in PR application. However I have maintained the required amount for the past 6 months, but in between the 6 months for about 8 days my account balance went behind by 10000 RS (200 CAD). Will this cause an issue while submitting my bank statement after getting ITA ?

Only current balance matters when you are submitting the documents. So if there was a drop in balance in last 6 months, they won't question unless there have been significant deposits of higher value to meet the balance. If you have just made 200 cad deposit in last 6 months, it is not significant.

However, i would recommend you to add more money in your account to have balance closer to 16K . Because exchange rate fluctuates, and if it drops little bit below the required amount, your appy would be in risk.

 

[deeps1987]

I am using about 4 different accounts including RSA for my POF. Do I need to insert a summary page on my POF Upload documents?

Not required in POF documents. I summarised in letter of explanation as i had several deposits in my account.

 

[yeshi2019]

Only current balance matters when you are submitting the documents. So if there was a drop in balance in last 6 months, they won't question unless there have been significant deposits of higher value to meet the balance. If you have just made 200 cad deposit in last 6 months, it is not significant.

However, i would recommend you to add more money in your account to have balance closer to 16K . Because exchange rate fluctuates, and if it drops little bit below the required amount, your appy would be in risk.

Thanks for the clarification. Yes I am maintaining 16000 CAD pertaining to fluctuating currency.

 

[Nurustent]

I have a question regarding proof of funds. I received ITA on the 27.11.2019 and will be getting a gift of my entire settlement funds from my mum next week into a bank account I recently opened. I also will be immediately investing the funds in a fixed deposit. Is the age of the account a problem? Is it okay if I upload the following documents?
1. Notarised letter of gift deed signed by my mum and myself
2. Affidavit of gift deed
3. Fixed deposit certificate
4. Bank reference letter showing details of the investment
5. Statement from date of opening showing the funds from my mum and the corresponding debit by the bank for the investment.

 

[canadaball]

I'm showing POF from both my savings account and FD (50% contribution each). I first placed money into FD in August 2018 and it matured in November 2019. It automatically rolled over into a new FD (also 15-month maturity) but I withdrew it and place it into a new FD in December 2019 due to better interest rate. I will be showing the statement for the current FD but since it's less than 6 months old, I will be attached FD statements for the first (matured) and second (cancelled) FD. Would these documentations be sufficient to show that the money has been around for more than 6 months?

Additionally, my bank is strict with the reference letter format and they refuse to state that my FD can be withdrawn at any time. However, it is common practice in my country that all FDs can be withdrawn before maturity. How do I go about tackling this? Is including it in LOE enough?

 

[Mr_fabrizio]

I have a question regarding proof of funds. I received ITA on the 27.11.2019 and will be getting a gift of my entire settlement funds from my mum next week into a bank account I recently opened. I also will be immediately investing the funds in a fixed deposit. Is the age of the account a problem? Is it okay if I upload the following documents?
1. Notarised letter of gift deed signed by my mum and myself
2. Affidavit of gift deed
3. Fixed deposit certificate
4. Bank reference letter showing details of the investment
5. Statement from date of opening showing the funds from my mum and the corresponding debit by the bank for the investment.

Perfect...pls Add your 6months statement of account,and an LOE explaining the source of your funds from your mother

 

[Xtensio]

Quick question: CIC Website is stating 6 month of statements for all accounts. Does this apply to loan accounts, too?
I'm not able to get the requested Letter from that bank, so all I have are statements.

 

[dr.josemrod]

Quick question: CIC Website is stating 6 month of statements for all accounts. Does this apply to loan accounts, too?
I'm not able to get the requested Letter from that bank, so all I have are statements.

If you get the full letter you dont need statements