Proof of Funds (Express Entry)

[istari]

Hello guys!

I just need an advice on what to do with regard to my situation. I applied under FSW (Express Entry) last July 2016, sitting at 469 points. I am a nurse working here in Qatar, but I am a Filipino.

I have the following accounts with their respective amounts in CAD.

Employment Bank Account in Qatar- 0 (transferred all my savings from this bank to my savings bank account; opened last June 2014)

Savings Bank Account in Qatar- 9,000 CAD (25,000 QAR in local currency; opened last June 2016)

Bank Account in Philippines- 2,728 CAD (100,000 Php in local currency; opened last January 2015, but the amount was just deposited last September 2016- my friend has a debt and the full amount was sent in my account through cheque clearing)

Philippine Stock Account- 10,300 CAD (Around 380,000 Php in local currency; opened last January 2015, putting around 500 CAD monthly since account opening).

What should I do? I am quite confused with my situation. Please help me! It will be a big help! Thank you in advance!

Your funds can be spread over multiple accounts; that's not a problem.

I'm not sure what a "stock account" is, but I'm fairly sure that stocks (in the stock market) are not acceptable POF for IRCC.

 

[Starluck]

Guys I have one question...my mom is gonna gift funds for immigration process...my husband is the primary applicant..so how do we go about it...should my mom transfer money in my account and she gives me a gift deed and thn I give a noc to my husband saying I don't mind he using the funds or is there other way ? We both are going together ? My husband has shown funds but that's a joint account with his aunt so am sure they will ask to show funds on his name so I wanna be ready with all the documents...we don't have joint account...have just applied for it will take 2-3 days for the process

 

[istari]

Guys I have one question...my mom is gonna gift funds for immigration process...my husband is the primary applicant..so how do we go about it...should my mom transfer money in my account and she gives me a gift deed and thn I give a noc to my husband saying I don't mind he using the funds or is there other way ? We both are going together ? My husband has shown funds but that's a joint account with his aunt so am sure they will ask to show funds on his name so I wanna be ready with all the documents...we don't have joint account...have just applied for it will take 2-3 days for the process

Have your mother transfer the money to your husband's account.

 

[Starluck]

Have your mother transfer the money to your husband's account.

Not yet..will be doing it tomorrow or on Monday...am planning to transfer it in my account and I'll give noc to my husband..will that do ?

 

[istari]

Not yet..will be doing it tomorrow or on Monday...am planning to transfer it in my account and I'll give noc to my husband..will that do ?

NOC ? What do you mean ? NOC stands for National Occupational Classification.

If your husband is the primary applicant his name really ought to be on the account you're using to show POF.

 

[kamy]

NOC ? What do you mean ? NOC stands for National Occupational Classification.

If your husband is the primary applicant his name really ought to be on the account you're using to show POF.

i think she means no objection certificate

 

[kamy]

Not yet..will be doing it tomorrow or on Monday...am planning to transfer it in my account and I'll give noc to my husband..will that do ?

Money can remain in your account, CIC accepts the spouse's account as POF if she/he is coming along with Applicant.
If your mother transfers it to your/spouse's account, you need to show it as gift through gift deed format for which was shared on this forum earlier. You should get it notorized.

 

[riasat.abir]

Guys I have one question...my mom is gonna gift funds for immigration process...my husband is the primary applicant..so how do we go about it...should my mom transfer money in my account and she gives me a gift deed and thn I give a noc to my husband saying I don't mind he using the funds or is there other way ? We both are going together ? My husband has shown funds but that's a joint account with his aunt so am sure they will ask to show funds on his name so I wanna be ready with all the documents...we don't have joint account...have just applied for it will take 2-3 days for the process

it's ok if it's on your name as long as you are co applicant.
But you are supposed to maintain the cut off income bank balance for past 6 months.

 

[istari]

it's ok if it's on your name as long as you are co applicant.
But you are supposed to maintain the cut off income bank balance for past 6 months.

Maintaining the balance is only a requirement if you can't prove the origin of the money. The purpose of the gift deed is to bypass this requirement.

 

[Stanlee]

Guys I have one question...my mom is gonna gift funds for immigration process...my husband is the primary applicant..so how do we go about it...should my mom transfer money in my account and she gives me a gift deed and thn I give a noc to my husband saying I don't mind he using the funds or is there other way ? We both are going together ? My husband has shown funds but that's a joint account with his aunt so am sure they will ask to show funds on his name so I wanna be ready with all the documents...we don't have joint account...have just applied for it will take 2-3 days for the process

You can ask your mother to transfer funds either to your account or your husband's.

If it is transferred to your account, you need to give a signed Self Declaration stating that you are a co-applicant in your husband's PR application and you have no objection for the funds held in your account to be used for migration purposes.

On the other hand, if the funds are transferred to your husband's account, then you need to get Gift Deed executed and submit it along with proof of transfer. You can find a sample template of a Gift Deed here http://www.canadavisa.com/canada-immigration-discussion-board/gift-deed-letter-t384602.0.html

 

[hsinxh]

Can I show Government Savings Bond as a proof of funds for express entry?
I am asking about National Savings Certificate form India Post. If any experienced Indian member can comment on this, that will be highly appreciable.

https://en.wikipedia.org/wiki/National_Savings_Certificates_(India)

 

[Stanlee]

Can I show Government Savings Bond as a proof of funds for express entry?
I am asking about National Savings Certificate form India Post. If any experienced Indian member can comment on this, that will be highly appreciable.

https://en.wikipedia.org/wiki/National_Savings_Certificates_(India)

If the above funds does not have a lock-in period and is redeemable on request, you can show them as POF.

 

[jjleigh]

Hello all,

I recently submitted an e-APR. I am an Ontario provincial nominee inland applicant. I submitted e-APR 2 weeks ago and I have now realized that I was asked for the 6 month average in the proof of funds. At the time I submitted for some reason I missed that detail. I did show that I have money in my account with a document from the bank signed by them. I have about 30000 CDN which I have been saving. However it is missing the six month info. Do you think it will be an issue since I am an inland PNP applicant and I already had to prove to Ontario that I had enough funds. I have been working in Canada for the last 2 years on PGWP and so they have my job letters pay stubs and T4 documents and current employer info. I am also married to a working Canadian citizen which they can see in my profile. Plus I have no dependents. Not sure what to do here since my work permit has expired and I am counting on them to approve my application so that I can get my BOWP. I received my nomination 2 weeks before work permit expiry and ITA 3 days before expiry. So I have lots of little mistakes. Any advice?

- I am thinking of either messaging them and providing the documents or asking them to leave a note on my profile saying that I made mistake and that I can provide it later if given the chance.

 

[Stanlee]

Hello all,

I recently submitted an e-APR. I am an Ontario provincial nominee inland applicant. I submitted e-APR 2 weeks ago and I have now realized that I was asked for the 6 month average in the proof of funds. At the time I submitted for some reason I missed that detail. I did show that I have money in my account with a document from the bank signed by them. I have about 30000 CDN which I have been saving. However it is missing the six month info. Do you think it will be an issue since I am an inland PNP applicant and I already had to prove to Ontario that I had enough funds. I have been working in Canada for the last 2 years on PGWP and so they have my job letters pay stubs and T4 documents and current employer info. I am also married to a working Canadian citizen which they can see in my profile. Plus I have no dependents. Not sure what to do here since my work permit has expired and I am counting on them to approve my application so that I can get my BOWP. I received my nomination 2 weeks before work permit expiry and ITA 3 days before expiry. So I have lots of little mistakes. Any advice?

- I am thinking of either messaging them and providing the documents or asking them to leave a note on my profile saying that I made mistake and that I can provide it later if given the chance.

All banks do not give 6 months average balance, so all applicants do not submit 6 months average balance on the bank letter, instead, they submit 6 months bank statements in addition to the letter, so you need not worry.

 

[jjleigh]

All banks do not give 6 months average balance, so all applicants do not submit 6 months average balance on the bank letter, instead, they submit 6 months bank statements in addition to the letter, so you need not worry.

I didn't even give the bank statement for 6 months. Only just information with current balances for all accounts and credit card and then additional documents for each account with the open date. On bank letter head with contact info and stamped by them. So they can see that the accounts have been active for a while, but they have no info about the balance at the end of each month.