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Proof of Funds (Express Entry)

Promax

Star Member
May 17, 2016
50
2
Job Offer........
Pre-Assessed..
gaurang.parmar said:
Axis bank is not ready to give balance certificate on letter head. They had given me on plain paper with their stamps. I have shown them other banks are already giving still they refused to give on their letter head.

So will it be ok to upload in cic site ?
FYI - I have got the balance certificate on axis bank letter head (sealed) + 6 months acct stmt (sealed)

Not sure why they are not ready to issue the same to you..may be depends branch + ppl wrkng there..
 

Heathcliff77

Hero Member
May 2, 2016
459
63
Category........
FSW
Visa Office......
Ottawa VO
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13-01-2017
AOR Received.
07-11-2016
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28-06-2017
johnjkjk said:
I had the same dilemma; I was't sure whether to go for the minimum or maximum. Also I was worried that if I entered a low figure, this may not "look good" as opposed to a larger sum. Given that need to demonstrate everything that has been claimed on EE, in your PR application, I'm taking the view that it's better to stick with what I can easily and readily prove without having to faff about getting bank letters etc so I selected a reasonable value above the minimum and got a deposit certificate that exceeds this value. Why take a chance if they turn around and say, but you claimed to have a 100 grand?
No the 100K was just hypothetical, I claimed to have 20k but right now I have access to about 13k, If I received ITA and had to submit my proof of funds before getting the rest of the money, will that be a problem?

please anybody who knows for sure answer
 

johnjkjk

Champion Member
Mar 29, 2016
1,059
426
Heathcliff77 said:
No the 100K was just hypothetical, I claimed to have 20k but right now I have access to about 13k, If I received ITA and had to submit my proof of funds before getting the rest of the money, will that be a problem?

please anybody who knows for sure answer
It may be for the reasons already highlighted. It's probably best to enter a figure which is safely about the minimum, taking into account currency fluctuations and rises in the minimum levels (some people enter the exact amount and get stuck when the minimum increases). If you have 13k and its in Canadian funds and sitting separately without the prospect of dipping into it, then you may be safe to enter 13k or a bit more. That's just my personal view. In my case I have a fixed deposit which is safely above the minimum and although in another currency, should still be safely above the minimum even if the CAD rises in value.
 

ipman1122

Full Member
Jun 6, 2016
20
1
Rehan123 said:
Guys, if anyone borrowed money from A bank and transferred to B bank for personal reason. if the loan of A bank is cleared before submitting the eAPR, shall he can show the fund of Bank B?

Another question: is it mandatory to show 6 months statements. Don't they count 4 months statement??

most times they do request for 6 months statement
 

oldenuf

Hero Member
Mar 29, 2016
217
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guys,

There were a post on how to get EPF statment signed by the EPF office in india.. forgot to book mark it.. anybody has the link?
 

Heathcliff77

Hero Member
May 2, 2016
459
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johnjkjk said:
It may be for the reasons already highlighted. It's probably best to enter a figure which is safely about the minimum, taking into account currency fluctuations and rises in the minimum levels (some people enter the exact amount and get stuck when the minimum increases). If you have 13k and its in Canadian funds and sitting separately without the prospect of dipping into it, then you may be safe to enter 13k or a bit more. That's just my personal view. In my case I have a fixed deposit which is safely above the minimum and although in another currency, should still be safely above the minimum even if the CAD rises in value.
Thanks:)
 

gaurang.parmar

Star Member
Jan 27, 2016
118
44
Visa Office......
NDVO
NOC Code......
2174
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PNP: 4-Jan-2016 eAPR: 30-Jul-2016
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Promax said:
FYI - I have got the balance certificate on axis bank letter head (sealed) + 6 months acct stmt (sealed)

Not sure why they are not ready to issue the same to you..may be depends branch + ppl wrkng there..
after complaining in main branch, main branch has issued me balance certificate. They also agree sub branch should not say No :)
 

DreamB0yDani

Full Member
Jul 11, 2016
43
9
Dear All,

I have a question regarding POF. I just started developing my profile. I don't have required funds in my account. I have been depositing my salary to my mother's account.

So, my mother has gradually withdrawing money from her account so that I can deposit into mine. I believe I'll be able to deposit 13k CAD before the end of this month. That is beside my salary which I will start depositing.

My question is that will I have enougt time for me to develop 6 month bank statement? I have yet to send my document for IQAS which I believe will take about 2 months because I have given my passport for renewal and I won't get until after 1.5 month at least.

Any advice or suggestion is welcome.
 

Stanlee

VIP Member
Jan 29, 2016
4,100
595
oldenuf said:
guys,

There were a post on how to get EPF statment signed by the EPF office in india.. forgot to book mark it.. anybody has the link?
Here it is http://www.canadavisa.com/canada-immigration-discussion-board/procedure-to-get-pf-balance-certificate-and-ac-statement-from-pf-office-india-t412640.0.html
 

Stanlee

VIP Member
Jan 29, 2016
4,100
595
DreamB0yDani said:
Dear All,

I have a question regarding POF. I just started developing my profile. I don't have required funds in my account. I have been depositing my salary to my mother's account.

So, my mother has gradually withdrawing money from her account so that I can deposit into mine. I believe I'll be able to deposit 13k CAD before the end of this month. That is beside my salary which I will start depositing.

My question is that will I have enougt time for me to develop 6 month bank statement? I have yet to send my document for IQAS which I believe will take about 2 months because I have given my passport for renewal and I won't get until after 1.5 month at least.

Any advice or suggestion is welcome.
The reason why 6 months statements is asked is to establish that the POF so claimed is not borrowed funds or loan. As long as you can prove that the amount of funds so claimed by you is not a loan, you are good to go.
 

LokiJr01

Hero Member
Apr 13, 2016
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I suppose for POF, a letter of explanation is important to narrate where the funds will come from.
Of course, if the money can be kept in one account for six months - that kinda solves everything hehe.
 

Stanlee

VIP Member
Jan 29, 2016
4,100
595
LokiJr01 said:
I suppose for POF, a letter of explanation is important to narrate where the funds will come from.
Of course, if the money can be kept in one account for six months - that kinda solves everything hehe.
If it is a salary account in which the funds have been maintained, you may not submit a Letter of Explanation as the regular entries in the account would show the source of funds, but if the account has been created in the last 6-8 months and large sums are getting credited into the account, then, it would be better to support the POF with a Letter of Explanation to show that the funds rightfully belong to.you and it did not originate from loan or borrowed money. If the LOE is not submitted, and if the case officer needs some clarification he will anyway ask for additional information or documents, so it would be advisable to submit an LOE upfront.
 

SmartG

Newbie
Jul 14, 2016
6
1
Category........
FSW
Visa Office......
LONDON
NOC Code......
4112
App. Filed.......
15-08-2016
Nomination.....
21-03-2017
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15-04-2017
Hello Friends,

My dad is selling property in Pakistan and giving me money as a gift to show prove of fund. That amount will belongs to me. I am not in Pakistan. How can I establish that This amount is really a gift? I have only 30 days time to apply
 

Stanlee

VIP Member
Jan 29, 2016
4,100
595
SmartG said:
Hello Friends,

My dad is selling property in Pakistan and giving me money as a gift to show prove of fund. That amount will belongs to me. I am not in Pakistan. How can I establish that This amount is really a gift? I have only 30 days time to apply
You will have to get a Gift Deed executed for the amount of funds that your father is going to gift you. Transfer the funds to your account, get your bank statement showing the transfer and mention the details of the transfer in the Gift Deed and get it notarized.

Check these threads to know more

http://www.canadavisa.com/canada-immigration-discussion-board/sep-18-draw-17-itas-candidates-connect/-t349224.0.html

http://www.canadavisa.com/canada-immigration-discussion-board/proof-of-funds-fsw-still-unclear-about-gift-deed-t230490.0.html

http://www.canadavisa.com/canada-immigration-discussion-board/gift-deed-question-t349874.0.html
 

Col

Member
Jan 8, 2016
12
0
Guys can anybody could tell me about the proof of fund to be maintained for Newbrunswick? the time for which it should be maintained and likewise?