Proof of Funds (Express Entry)

[Promax]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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?