Proof of Funds (Express Entry)

[helloscientist23]

Please help me understand this - I claimed to bring $25,000 CAD to Canada in my express entry application.

But the minimum required for 2 people is $16,135 - so which amount is IRCC going to look at?

In other words, should my proof of funds show $25k or at least $16k?

 

[Mr_Chang]

Show the proof for what you have claimed in your application. If you show proof for less it becomes a very subjecting decision for the VO checking your application.

They may
A.Simply put a note saying POF does not match but is higher than requirement and the application continues
B. Create a Request for clarification and your application gets delayed.

Your application should not really be rejected due to this but again like I said, this creates a situation where the VO needs to take a subjective decision

 

[lampbreaker]

Please help me understand this - I claimed to bring $25,000 CAD to Canada in my express entry application.

But the minimum required for 2 people is $16,135 - so which amount is IRCC going to look at?

In other words, should my proof of funds show $25k or at least $16k?

Did you put 25k in the application or EE profile? You can certainly make changes to the application before it is submitted.

 

[helloscientist23]

Did you put 25k in the application or EE profile? You can certainly make changes to the application before it is submitted.

My EE profile stated $25,000. I think it'll be very touch and go, maybe it'll be like $24,500 by the time I need to request my financial letters and statements.

Won't it look bad if I make the change from $25,000 to $23,000 for example?

 

[lampbreaker]

My EE profile stated $25,000. I think it'll be very touch and go, maybe it'll be like $24,500 by the time I need to request my financial letters and statements.

Won't it look bad if I make the change from $25,000 to $23,000 for example?

No, it will not matter.

 

[Pal12]

You can show funds which are in the co-applicant or spouse's name provided the spouse is accompanying. You do not have to necessarily transfer the funds to the primary applicant's account. However, please note that the spouse should give a signed self declaration stating that you are a co-applicant in your husband's PR application and the funds held in your bank account(s) are to be used for migration purposes and you do no have any objection for the same. You will need to get all the same bank related documents that would apply for the primary applicant as well. In the LOE show a table with the funds totaled from both your bank accounts.

Hi, I am primary applicant and not currently working thus no bank account. So how can i show that i have access to my husband’s bank account? And would this be acceptable? My husband has enough funds for this purpose. Your input would be much appreciated.

 

[claudedunk]

Can anyone help me with this:

1. I printed bank statement of latst 6 months with only incomes (which includes balances after each inflow transaction) , is it okay? I use my bank account to pay everything, therefore if I include all inflows and outflows in my bank statement, it will be over 50 pages.

2. My bank cannot provide a stamped letter to show when my account was opened. Is it Okay to submit bank statement with no opening date of my account( other information like my name and account number is available)

Thanks in advance.

 

[Ginu5254]

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?

Hi,

I am going through the same issue. Did you manage to get a letter from Comm Bank Australia? If yes, how did you go about it?

 

[maradona007]

Hey everyone, I am stuck at a point where I am not able to decide which way to go? For POF I am planning to declare 3 bank accounts, 2 belongs to me and 1 belongs to my wife. Now the problem is I have multiple bank accounts and funds were scattered around various bank accounts and Mutual Fund, I started consolidating funds more than 4-5 months back but still last 6 month bank statement will show huge amounts being credited apart from salary. In this case, do I need to declare all other bank accounts as well? Or a simple explanation in LOE about why such huge amounts were credited and from where is okay? Any guidance in this regard is appreciated.

 

[HARMAN08]

Hello all,

I am PA. I have LMIA and a nomination from Alberta. Based upon that I've recently received an invitation to apply for PR through EE.

My question is about proof of funds as well. My wife is director and a partner of a preschool and after the nomination from Alberta, we were sure that we will be invited with the next draw, she decided to take her share of profit / bonus from the school and then she transferred the funds to my bank account. If I hadn't received the invitation, she would have used these funds to maintain the school.

The funds were transferred during two weeks due to transfer limits. Now what do I need to submit as POF? Would this be sufficient:

1. A verifiable letter from my bank advising my name, ID, date of opening etc
2. 6 months verifiable bank statements for all my accounts
3. A verifiable letter from my wife's bank advising her name, ID, date of opening etc
4. A proof that she is the director / partner of xxx preschool
5. A gift deed from my wife

Do I need to show her bank statements and schools bank statements as trail or that would be too much paperwork?

I thank you in advance.

 

[smash1984]

Hello all,

I am PA. I have LMIA and a nomination from Alberta. Based upon that I've recently received an invitation to apply for PR through EE.

My question is about proof of funds as well. My wife is director and a partner of a preschool and after the nomination from Alberta, we were sure that we will be invited with the next draw, she decided to take her share of profit / bonus from the school and then she transferred the funds to my bank account. If I hadn't received the invitation, she would have used these funds to maintain the school.

The funds were transferred during two weeks due to transfer limits. Now what do I need to submit as POF? Would this be sufficient:

1. A verifiable letter from my bank advising my name, ID, date of opening etc
2. 6 months verifiable bank statements for all my accounts
3. A verifiable letter from my wife's bank advising her name, ID, date of opening etc
4. A proof that she is the director / partner of xxx preschool
5. A gift deed from my wife

Do I need to show her bank statements and schools bank statements as trail or that would be too much paperwork?

I thank you in advance.

This should be fine, but if both of you are part of the application then adding her bank statements for last 6 months should be a good addition to this list.

 

[HARMAN08]

This should be fine, but if both of you are part of the application then adding her bank statements for last 6 months should be a good addition to this list.

Hello Smash1984, I thank you for kind advice. Yes she is accompanying me.

My concern is that her bank account is also not so busy. In other words, She took her profit share just before she transferred that money to my account. The transaction references, from preschool’s account to her account do say ‘profit 2019-21’ though. I suppose we will have to get schools bank statements as well in this case and explain the whole thing on LOE?

Much appreciated

 

[smash1984]

Hello Smash1984, I thank you for kind advice. Yes she is accompanying me.

My concern is that her bank account is also not so busy. In other words, She took her profit share just before she transferred that money to my account. The transaction references, from preschool’s account to her account do say ‘profit 2019-21’ though. I suppose we will have to get schools bank statements as well in this case and explain the whole thing on LOE?

Much appreciated

Yes, you will have to use the LOE, but this is exactly the kind of situation where the LOE is useful. Your case is very strong except the timing of money exchange is not ideal, which is what the LOE will explain.

 

[HARMAN08]

Yes, you will have to use the LOE, but this is exactly the kind of situation where the LOE is useful. Your case is very strong except the timing of money exchange is not ideal, which is what the LOE will explain.

Yes that would be the right thing to do.
I thank you.

 

[smash1984]

Yes that would be the right thing to do.
I thank you.

On a separate note, I am watching England vs South Africa right now and rooting for South Africa