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Proof of Funds (Express Entry)

grapehair

Hero Member
Jan 14, 2017
538
170
Hey guys, respectfully I'd like to ask about credit card debt. I have 9 credit cards from 7 different banks. 3 of them with an active balance totalling about $950 USD. The rest of them doesn't have any balance. I'm already showing more than enough on my PoF letter, more than I actually declared that I'll bring to Canada.( $13000 declared compared to $18000 that are showed in the bank statements).

Do I have to give bank letter from all the credit card banks or just the ones with credit card loans??
 

kryt0n

VIP Member
Sep 30, 2014
5,422
274
NOC Code......
2172
AOR Received.
16-03-2017
Passport Req..
11-07-2017
grapehair said:
Hey guys, respectfully I'd like to ask about credit card debt. I have 9 credit cards from 7 different banks. 3 of them with an active balance totalling about $950 USD. The rest of them doesn't have any balance. I'm already showing more than enough on my PoF letter, more than I actually declared that I'll bring to Canada.( $13000 declared compared to $18000 that are showed in the bank statements).

Do I have to give bank letter from all the credit card banks or just the ones with credit card loans??
Technically, yes. Can't you just close them if you aren't using them?
 

tahminaml

Hero Member
Oct 19, 2015
315
11
Dhaka
Category........
FSW
Visa Office......
Singapore
NOC Code......
1223
App. Filed.......
28-03-2017
AOR Received.
28-03-2017
IELTS Request
Upfront 11.02.17
Med's Request
Upfront
Med's Done....
18-03-2017
Passport Req..
10-07-2017
VISA ISSUED...
19-09-2017
LANDED..........
03-03-2018
My bank mentioned current balance but didn't mention the average balance of the past six months.. Rather gave me the bank statement.. Is tht a problem?
 

Realme

Star Member
Feb 22, 2017
132
100
nigeria
Category........
FSW
App. Filed.......
16-05-2017
AOR Received.
16-05-2017
IELTS Request
upfront
File Transfer...
IP1-29-06-2017
tahminaml said:
My bank mentioned current balance but didn't mention the average balance of the past six months.. Rather gave me the bank statement.. Is tht a problem?
I don't think that's a problem to the best of my knowledge
 

rasholm

Star Member
Apr 16, 2016
56
7
NOC Code......
2174
App. Filed.......
24-03-2017
AOR Received.
24-03-2017
Med's Done....
25-05-2017
Passport Req..
19-06-2017
hi all, does the letter from the bank showing proof of funds for express entry need to be less than 1 week old as is the case when applying through IEC?
 

johnjkjk

Champion Member
Mar 29, 2016
1,059
426
Hi. I submitted fixed (term) deposit certificate and bank letter for proof of funds. Now whilst waiting for PR, some of these deposits have matured (i.e. interest reached the end of term). They have been renewed with the same account numbers and values and I created a new deposit also from the interest gained. Do I need to submit new certificates and bank letter? My only worry is that the bank letter and certificates state a maturity date. However if I submit these new statements then the opening date will be today so I don't want to a dig a hole for myself.

All I have so far is medicals passed- no other changes, so I don't know whether this aspect of my application has been reviewed yet (GCMS notes on the way).
 

kryt0n

VIP Member
Sep 30, 2014
5,422
274
NOC Code......
2172
AOR Received.
16-03-2017
Passport Req..
11-07-2017
rasholm said:
hi all, does the letter from the bank showing proof of funds for express entry need to be less than 1 week old as is the case when applying through IEC?
The newer the better, but there is no set time. Less than 2 weeks should be acceptable.
 

deepakf1

Member
Mar 21, 2017
10
1
Hi all,

Have been following the posts on this however have received different versions on different places hence requesting again for clarity -

iI am the primary applicant on the EE Profile however the POF are in the name of my spouse only (who is the co-applicant) in the form of Fixed deposits which were booked in Nov 2016. Would this be sufficient or do i need to show the funds only in my name ?

Kindly assist.

Regards
 

Didona84

Star Member
Nov 3, 2015
96
17
tahminaml said:
do we need to include credit card statements?? what if there is outstanding bills?
It doesn't say anywhere to include these. To my understanding, the VO only wants to know whether you have the money to survive after the landing and that the money you have is not borrowed. They are not interested in your net worth.
 

Amaljohan

Star Member
Jun 6, 2015
161
3
I gotta add something.
My wife was the main applicant when we are applying for PR and funds was under my name and it was only 2 weeks old (Fixed Deposit). We didnt had any problems with that. And according to GCMS my POF got cleared withing the first 45 days.
So dont worry about the funds if your spouse contributed to CRS. Its all about the way you present your file, just make sure to ease your visa officer's life without making it complicated. As someone said they only wanted to know about your financial situation after you became a Canadian PR. Cheers.
 

reason1228

Member
Mar 24, 2017
16
0
hey guys, just simple questions. POF of EE, does it HAS TO be a letter from bank? Or just use monthly bank statement and combine them is ok? The statement has most of the required information but no date of the account was opened.
 

hrk777

Full Member
Mar 1, 2017
45
0
Job Offer........
Pre-Assessed..
i had received ita on 24th at present i had low balance in my account.since my brother will give the required amount to show in my account.so it is ok or i have to mention this LOE.
 

anishtrip

Full Member
Jan 16, 2017
27
10
Hello guys,

Request help/feedback

I have major investments in Mutual Funds and stocks in in Indian stock market. Can these holdings be shown as proof of funds?

Also I have multiple accounts in my country of origin and in my country of residence. Can I show applicable funds across more than one account or can I show just one account to the CIC authorities?

thanks
 

kryt0n

VIP Member
Sep 30, 2014
5,422
274
NOC Code......
2172
AOR Received.
16-03-2017
Passport Req..
11-07-2017
reason1228 said:
hey guys, just simple questions. POF of EE, does it HAS TO be a letter from bank? Or just use monthly bank statement and combine them is ok? The statement has most of the required information but no date of the account was opened.
Try to get a letter as per IRCC requirements, however they have accepted statements with no issues.