Proof of Funds (Express Entry)

[kryt0n]

My bank won't provide any kind of letter! They even claim not to have any letter head paper anymore! Crazy!

So it's 6 months of statements for me and whatever I can print from online and ask them to stamp.

What kind of huge, international bank doesn't issue letters??

 

[Dedicated]

Has the money been in your account for at least 6 months ? If not, you will need to demonstrate where those two deposits came from.

It has not. I'm submitting a solid LOE. Apart from that, is everything okay?

 

[rtir]

I have a question on PoF. I am applying from canada and on a job here but I have been asked to show PoF anyways for 2 applicants. I have some Fixed deposits back home in india in my name for around $14000CAD. Is it enough if I attach copies of FD receipts duly stamped by the bank or should I also get a letter from them. I am in Canada and I have little access to the bank to request for a letter(have access only to internet banking). How should I go about this?
Also, is it fine if I show the balance $2000CAD in my Canadian account so that I can meet the minimum PoF requirement as asked? Any suggestions?? TIA.

 

[vj23]

Hi friends, need your advice on below query.

My brother gifted CAD 10,000 to me and we have notarized gift deed for that. I have remaining CAD 8,000 with my savings. I need POF as a single applicant. Bcos of this transfer my average and closing balance has huge variation. Do you this CIC will accept this ? My brother has gifted this money for my settlement in Canada if i am acccepted.

 

[Alexand]

Hi friends, need your advice on below query.

My brother gifted CAD 10,000 to me and we have notarized gift deed for that. I have remaining CAD 8,000 with my savings. I need POF as a single applicant. Bcos of this transfer my average and closing balance has huge variation. Do you this CIC will accept this ? My brother has gifted this money for my settlement in Canada if i am acccepted.

Hello

You have a very generous brother!

Make sure you have the full amount when you land in Canada. If its a gift from your brother I believe it is ok as long as you do not lie
this is the link with more info http://www.cic.gc.ca/english/immigrate/skilled/funds.asp

Also, you can ask these kind of questions to the experts at NextStopCanada.ca (it is a CIC funded program for immigrants who are in the process of coming to Canada)
They speak different languages also.

Let us know how everything goes! ;D

ALex

 

[g_singh76]

Ok, First, They actually ask about the funds when you make an express entry profile. Second, if you have a permanent full-time job offer from a Canadian employer, you won't need to show the funds. This is the link http://www.cic.gc.ca/english/immigrate/skilled/funds.asp

>>> If you are living in Canada and have a job offer, all you need is a letter of explanation. My friend did this, and they accepted it.
>>> If you are not in Canada and do not have a job offer, you need the funds.

This is my understanding--if you have a job offer and have no funds to show, I think it will still make a problem because how in the world you are gonna afford if you are completely new in Canada. This is just my assumption. You can call CIC at +1 613 944 4000 (for an agent: options 1,2,1,2,1 ... then 0 to skip the message).

 

[fahadsheikh]

Hi All,

Can anyone please clarify for me, do we need to have minimum required amount in our possession before applying for EE or OINP? It's CAD 12164 for one person I guess. Do we need to have this much amount and only then we can apply or submit EE profile?
If not, at which point exactly do we have to show that we have enough money?

 

[Kimberly007]

Good day every one please am asking this question on behalf of my brother.

We all contibuted money and opened an account in september soely for canada immigration for him. He has however recieved and ITA and the bank has agreed to provide the letter in the manner CIC wants it. How ever we are scared that the account opening date and average account balances for 6 months is actually less than six months (just 2 months old), and the funds is in Fixed deposit.

Please advise me on how we can go about this situation.


thanks

 

[johnjkjk]

Hi do we need to show our entire financial portfolio? The wording of the requirements has me worried:

Express Entry - Permanent Residents
If you are applying for permanent residence in Canada, you must provide an official letter issued by your financial institution indicating your financial profile. This must:
• list of all your bank (chequing and savings) and investment accounts, the account numbers, dates each account was opened and the balance of each account over the past six months,
• list all outstanding debts, such as credit cards and loans,
• be printed on the letterhead of the financial institution, and include your name and the contact information of the financial institution (address, telephone number and e-mail address).

I want to show fixed deposit certificates and have a bank letter in the appropriate format. I don't want to show other bank accounts or accounts in other countries, but I'm worried that they want a complete "financial profile".

Should I mention in LoE that I have other accounts but it's not possible to get documents in the required format?

 

[nekeol]

Hi do we need to show our entire financial portfolio? The wording of the requirements has me worried:

I want to show fixed deposit certificates and have a bank letter in the appropriate format. I don't want to show other bank accounts or accounts in other countries, but I'm worried that they want a complete "financial profile".

Should I mention in LoE that I have other accounts but it's not possible to get documents in the required format?

if u show funds enough for your requirments then no need to show more bank accounts

 

[RAH242]

Quick question guys, what's the minimum amount that someone can give me without me having to provide a notarized gift deed? My mother owes me $591 CAD do I need to get a deed to say that she is returning this to me? It seems like an immaterial amount to me but it may not be immaterial to the CIC so I just want to make sure. Thanks!

 

[kryt0n]

Quick question guys, what's the minimum amount that someone can give me without me having to provide a notarized gift deed? My mother owes me $591 CAD do I need to get a deed to say that she is returning this to me? It seems like an immaterial amount to me but it may not be immaterial to the CIC so I just want to make sure. Thanks!

Could she not give you that in cash and you put it into your account in a few amounts? You can claim it was cash in your house you put into your account.

 

[RAH242]

Could she not give you that in cash and you put it into your account in a few amounts? You can claim it was cash in your house you put into your account.

I can and that's what I'd prefer to do I just want to make sure it would be okay. What's the minimum amount you think they would need a deed for?

 

[kryt0n]

I can and that's what I'd prefer to do I just want to make sure it would be okay. What's the minimum amount you think they would need a deed for?

No idea, but I would say anything over $1000 would raise questions, or adding lumps of $200 several times a week in cash the might ask where it came from. Just don't make it look suspicious.

As I get paid in one account but move £800+ a pay cheque into my joint account, I'll likely produce bank statements from my joint PoF account and my "pay" account to show where the £800+ a month comes from.

 

[vj23]

My bank provided me proof of funds as a letter on its letter head that has address of banking center (bank branch) but do not have contact details like telephone or email ID. Will this be accepted ?