Proof of Funds (Express Entry)

[jahmedir]

thank you
jickson and
DelPiero07.

Yes, my ITA is under CEC. So, does it mean that when I will submit my PR application, the list of documents, CIC will generate, will not include the POF bank statement.

 

[DelPiero07]

thank you
jickson and
DelPiero07.

Yes, my ITA is under CEC. So, does it mean that when I will submit my PR application, the list of documents, CIC will generate, will not include the POF bank statement.

There will be a slot for POF if you've stated that you'll bring any amount other than "$0" if that's the case you can upload a letter saying you're applying under CEC and you're not required POF.

 

[jickson]

Sent by someone else? As a gift, Yes. You'll have to prove it was a gift.

[quote author=jickson]
Yes, sent by me (PR here) to my brother (applicant). Is a letter acceptable or is it suspicious?
[/quote]
Any thoughts?

 

[Asivad Anac]

Yes, sent by me (PR here) to my brother (applicant). Is a letter acceptable or is it suspicious?

Your brother will need to prove that it was a gift which does not need to be returned to you.

 

[jickson]

Your brother will need to prove that it was a gift which does not need to be returned to you.

Is that proof more than a letter signed by me stating so? Would it be better if I buy something (car, etc) from him in exchange?

 

[Asivad Anac]

Is that proof more than a letter signed by me stating so? Would it be better if I buy something (car, etc) from him in exchange?

A letter signed by you would suffice. Make sure that the letter has all information about this transaction. Additionally, your brother will have to provide proof of actual fund transfer.

 

[jickson]

A letter signed by you would suffice. Make sure that the letter has all information about this transaction. Additionally, your brother will have to provide proof of actual fund transfer.

Does this mean that the money order needs to be deposited into his account? Because in our home country, banks cannot deposit Canadian money orders, so I was hoping this could be avoided. Can't he just show the money order in his name as proof of funds?

 

[Asivad Anac]

Does this mean that the money order needs to be deposited into his account? Because in our home country, banks cannot deposit Canadian money orders, so I was hoping this could be avoided. Can't he just show the money order in his name as proof of funds?

Tricky. It is indeed liquid-able so that works in favor. But it isn't exclusively with your brother. Money orders can expire or can be cancelled. IRCC will probably not accept that as valid POF.

 

[jickson]

Tricky. It is indeed liquid-able so that works in favor. But it isn't exclusively with your brother. Money orders can expire or can be cancelled. IRCC will probably not accept that as valid POF.

Thanks Asivad. Tricky indeed!

Is it possible to open a canadian bank account from abroad (and of course be able to use it before coming)?

 

[Asivad Anac]

Thanks Asivad. Tricky indeed!

Is it possible to open a canadian bank account from abroad (and of course be able to use it before coming)?

I imagine not. Banks typically ask for proof of status in Canada before activating the account.

 

[Stanlee]

Thanks Asivad. Tricky indeed!

Is it possible to open a canadian bank account from abroad (and of course be able to use it before coming)?

Nova Scotia Bank is offering a simple banking package for new immigrants called the " Startright Program." This is to facilitate the arrival and settlement of new immigrants to Canada before they move there.

This programme assists you in opening a bank account in Canada and remit funds ahead of arriving in Canada.

This helps you to:

1. Demonstrate to Immigration Canada that you have funds available in Canada (while not burdening themselves with carrying cash, drafts etc., with them); and,
2. Obtain a Bank Statement on arrival, to be used in applying for a Health Card etc., without delay; and
3. Have a credit card available upon arrival, which is most useful for starting to build a credit history in Canada.

There is more information available on Scotiabank's Startright Program on the web site that has been created specially to assist new immigrants.

However, as Asivad mentioned, I think you need to have a legal status in Canada (PR etc). Also, I heard that they have a requirement to transfer CAD 5,000 and you will not be able to access those funds till you land in Canada.

 

[mira_johnson]

Hello again,

I need some final advice on what to do to prove my 6 months account balance.
My bank cannot provide me the 6 months balance in English, therefore, I need to translate it. The account will have hundreds of inputs/outputs obviously, so I am thinking to only ask the translator to translate the information that says This is my account and months etc., basically, the facts to convey that this is my 6 months account balance. HOWEVER, I am thinking to hide my accounts information to the translator, because I do not trust a translator with this information. I don't believe it is safe, and I will not gamble my financial security/safety or identity safety on this. I am then thinking to include the original document (before translation) where my account information will show, and explain this in my Letter of Explanation.

Is this an acceptable approach? (likely/unlikely) Many thanks!

 

[Asivad Anac]

Hello again,

I need some final advice on what to do to prove my 6 months account balance.
My bank cannot provide me the 6 months balance in English, therefore, I need to translate it. The account will have hundreds of inputs/outputs obviously, so I am thinking to only ask the translator to translate the information that says This is my account and months etc., basically, the facts to convey that this is my 6 months account balance. HOWEVER, I am thinking to hide my accounts information to the translator, because I do not trust a translator with this information. I don't believe it is safe, and I will not gamble my financial security/safety or identity safety on this. I am then thinking to include the original document (before translation) where my account information will show, and explain this in my Letter of Explanation.

Is this an acceptable approach? (likely/unlikely) Many thanks!

Tricky.

Can your bank give you opening/closing balances for each of the last 6 months? That would do.

 

[mira_johnson]

Tricky.

Can your bank give you opening/closing balances for each of the last 6 months? That would do.

Hi Asivad,
No they cannot.
Don't ask me why. Policy's.

 

[jickson]

About POF, if funds are transferred (gifted) by my father-in-law only a few days before getting bank statements, is that acceptable or not? if gift deed is included.