Proof of Funds (Express Entry)

[kenok]

Sorry guys, I have read through many pages and though I have seen some answers, I still want to be very sure. I have called my bank and they said they do not provide such letters, I do have more than enough of what I need for the FSW and have had a steady income for almost 7 years with the same bank. Question, can I just download 6 months bank statement and get it signed/stamped by my bank? I don't have any outstanding loans or debts but I don't know how to show that. Can I also get all my credit card statements? Also how do I show them the conversion rate? My account is in Singapore dollars which is almost 1:1. Thanks for your help

 

[mvd]

Hi guys,

If the proof of funds are in the PR applicant's name, would spouse also need to upload his/her bank statement?

 

[DelPiero07]

Hi guys,

If the proof of funds are in the PR applicant's name, would spouse also need to upload his/her bank statement?

No.

 

[DelPiero07]

Sorry guys, I have read through many pages and though I have seen some answers, I still want to be very sure. I have called my bank and they said they do not provide such letters, I do have more than enough of what I need for the FSW and have had a steady income for almost 7 years with the same bank. Question, can I just download 6 months bank statement and get it signed/stamped by my bank? I don't have any outstanding loans or debts but I don't know how to show that. Can I also get all my credit card statements? Also how do I show them the conversion rate? My account is in Singapore dollars which is almost 1:1. Thanks for your help

Get whichever letter they provide and provide the bank statements and you'l be fine.

No need to convert anything.

 

[vishalg]

I have a question for Indian applicants. Has anyone showcased his/her proof of funds through ' bank of India'. If yes, do they give the letter as per CIC guidelines.
If anyone has experience in dealing with BOI, please share.

 

[grapehair]

Hey guys, a question. I'm studying in USA, father in India. I have an average 6 months balance of around $12000 CAD ( 6 month statement from US bank shows it's increasing at a small pace, like around $1000-2000/month. I am still a student and my father sends me the money . How do I prove the source of funds? What do I need to do as the bank account is under my name.

 

[motocheck]

Hi Friends, Hi Delpiero ( Famous Italian footballer )

a silly queries but its very confusing..Glad if you can help on the subject..

Suppose i have 8 lakhs INR in the bank account and get 6 month bank stmt and letter from

bank as on date 1st Jan 2017..

8 lakhs corresponds to ( CAD to INR fx rate on 1st Jan 2017 = 52 ) = 15384 CAD

this is more than the required 15143 CAD for 2 people.

Now suppost the bank stmt is uploaded. can i withdraw the funds after submitting applicatopm

after ITA. and E-APR is completed.

e-APR date is suppose 22nd Jan 2017.

Doubts
1) Do indian banks like ICICI, axis give bank letter in INR or CAD ?
2) can i withdraw funds after 22nd jan ??..since i already uploaded proof of funds.
3) If i cannot withdraw, how will CIC verify the uploaded POF letter
4) if they verify stmt on 1st April , will CAD to INR FX rate on 1st April will be considered ??
does this FX rate include mark up fees like google will show 51.14
but if u take CAD from indian bank, they charge markup fees and finally charge CAD to INR

54-55.. Do CIC uses FX rate as in google or they include fees likes banks ??

 

[DelPiero07]

Hi Friends, Hi Delpiero ( Famous Italian footballer )

a silly queries but its very confusing..Glad if you can help on the subject..

Suppose i have 8 lakhs INR in the bank account and get 6 month bank stmt and letter from

bank as on date 1st Jan 2017..

8 lakhs corresponds to ( CAD to INR fx rate on 1st Jan 2017 = 52 ) = 15384 CAD

this is more than the required 15143 CAD for 2 people.

Now suppost the bank stmt is uploaded. can i withdraw the funds after submitting applicatopm

after ITA. and E-APR is completed.

e-APR date is suppose 22nd Jan 2017.

Doubts
1) Do indian banks like ICICI, axis give bank letter in INR or CAD ?
2) can i withdraw funds after 22nd jan ??..since i already uploaded proof of funds.
3) If i cannot withdraw, how will CIC verify the uploaded POF letter
4) if they verify stmt on 1st April , will CAD to INR FX rate on 1st April will be considered ??
does this FX rate include mark up fees like google will show 51.14
but if u take CAD from indian bank, they charge markup fees and finally charge CAD to INR

54-55.. Do CIC uses FX rate as in google or they include fees likes banks ??

I'll answer your non-Indian related questions.

2 - You should be really careful with this because if you're requested updated bank statements and they show you don't have the funds anymore then you could be in big trouble.

3 - They cannot contact your bank but they can ask for updated bank statements.

 

[roomy89]

Hi Guys,

Hope you all are doing well,

I have recently received the ITA for PR under FSW program. In my response I need to give POF. I have a joint account with my father in a bank which holds ample amount to be shown, (12500 CAD) in my case. Amount in the account has been held for more than a year so 6 months statement wont be an issue. It would be great if you guys can help me with my below mentioned questions

- Can I use the joint account as a POF with the gift deed from my father clearly saying that the amount in the account is a gift to me from his side on account of me going to Canada. Would I need anything else also along with it?
- I have my own salary account also which would hold some 3000 CAD post my recent deposit of Provident Fund. Should i declare that too?
- Anything else like credit card information to be attached?

It would be great for me if I can get your valuable feedback on this

Regards,
AR

 

[Berty3000]

Hello,

If I am self-employed and have a separate business account, do I also need to provide evidence of this?

Do I need to provide the required information for all personal bank accounts I have, even if there are 5 different banks, or can I just send information about the main account?

Many thanks

 

[DelPiero07]

Hello,

If I am self-employed and have a separate business account, do I also need to provide evidence of this?

Do I need to provide the required information for all personal bank accounts I have, even if there are 5 different banks, or can I just send information about the main account?

Many thanks

If you have the required funds in such main account then that will suffice.

 

[Iamac]

Hi guys! I am showing a gift deed from my father as proof of funds. I want to know, do I have to still show 6 month bank statement because I haven't maintained the required balance? Also, do I need to show my father's bank statement also?

 

[Berty3000]

If you have the required funds in such main account then that will suffice.

But couldn't CIC argue that they need to know about all accounts to know what a person's financial status really is? This is part of the reason I ask about my business account - they might wonder if there are debts in this account.

 

[DelPiero07]

But couldn't CIC argue that they need to know about all accounts to know what a person's financial status really is? This is part of the reason I ask about my business account - they might wonder if there are debts in this account.

No, they only care about the account for which you meet the minimum required funds.

 

[kryt0n]

Ok, only got a 7 in reading so bare with me...

6 months average as in a single amount or an average for each month, so 6 averages?

If my bank won't do averages, would a letter with the closing balance each month suffice?