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vishalg said:
you can show any account where minimum required funds are parked. Here is an example
Account 1- current balance above LICO ( considering 13k single applicant)
Month 1 - 5k
Month 2 - 8k ( increase of 3k, need to show where the funds came from)
Month 3- 9k
Month 4 - 9k
Month 5 - 9k
Month 6 - 13k ( increase of 4k, need to show where the funds came from)
Suppose the funds came from account 2 ( your salary account) then you need to get a letter for this account if from a different bank (else it should have been mentioned on the letter for account 1) if letter doesn't mention 6 month avg. then you need to show statements that the funds were already there and you moved them to account 1. But account 2 letter will mention all loans taken.
So no need to provide history of Any money received before 6 months but for funds received within 6 months you need to provide the audit trail.
Hope this gives clarity.

Are you saying any monthly increases of 3000can or more have to be supported by additional evidence? What is the basis for this? Is it in the rules and regulations?

If the 6 month average is given - let's say the average is a single figure of 20k CAN with the final amount being 40k CAN, does this need to be given a special explanation? Or average of 5k, final figure 15k. Why would this be considered suspicious and where in the regulations does it say you need to do any more than provide the normal bank letter?
 
What are requirement for bank statement ? Will they ask for BS from the day (6 months statement from that particular date) i file EE or the day i rec IAT (6 months bank from that particular date)?

If one dont have enough funds but he or she has agriculture inherited property on his or her name, will that count ?
if we try to proof funds by showing we sold property on our name than what are the supporting documents to prof? will simple sale deed work ?

Below month ends balances are enough to satisfy visa officer ?

Month End Bal CAD Increase
1 576,947 7,211.84
2 691,595 8,644.94 1,433.10
3 921,595 11,519.94 2,875.00
4 926,595 11,582.44 62.50
5 971,595 12,144.94 562.50
6 1,021,595 12,769.94 625.00

for last year i was rec my salary in cash so instead of depositing in bank i bought prize bonds(can be bought anywhere no document required but bonds are issued by central bank) in first three month rapid increase was due to i sold my bonds in open market gradually and deposited in bank to show POF and from 2nd month i started depositing my sal in my bank. is it ok ? i have photo copies of all bonds in bought but due to its nature it can be bought and sold anywhere no docs required.

Any advice ?
 
Hi all,

Just a simple question. My common-law and I are applying soon. I am the applicant (as I have a masters degree), and she is the accompanying person.
Is it ok to provide bank statements in my partner's name instead of mine?. Or will that be a problem??
Thank you!!
 
Hey Guys,

My Funds:-
- I have 17,300 CAD in my checking account currently in USA.
- I also have an account in India with around 5000 CAD
- My wife has an account in India with around 7500 CAD.

My Credit Card Debts, Loans
- I have many credit cards from many banks (with 0 debt, i pay them off every month)
- I have a car loan of around 20,000 CAD

I have 2 people for which I have to show funds for (me and my wife).
I don't know how hard it would be to get Letters from banks in India (since I am living in USA now)

My questions are:
1. Do I have to get letters from all the banks I have credit cards of with there 6 month statements?
2. Do I have to get letter from the financial institution that has issued me the Car loan with its 6 month statements?
3. Will getting a POF letter with 6 month statements from my USA checking account suffice my case or I should get POF letters from my and my wife's bank accounts in India to be on the safer side?

Thanks in advance
 
Berty3000 said:
Are you saying any monthly increases of 3000can or more have to be supported by additional evidence? What is the basis for this? Is it in the rules and regulations?
There is no rule mentioned for it[. It based on the learning of successful members of this forum and it is not based on amount I.e. CAD 3000. It is based on % increase in the funds. In the above quotes example there has been an increase of 60% in the funds. People generally say a raise of 20% and above should be supported with a proof that the funds are yours/ audit trail./color]
If the 6 month average is given - let's say the average is a single figure of 20k CAN with the final amount being 40k CAN, does this need to be given a special explanation? Or average of 5k, final figure 15k. Why would this be considered suspicious and where in the regulations does it say you need to do any more than provide the normal bank letter?
of there is a significant difference between a single figure (avg) and final figure then CIC would want to know the source of that additional funds/sudden spike. The reason these guys ask for average is to understand whether the applicant has taken any loan for POF. Any significant increase in your POF is bound to make them grow suspicious. Hence a supporting document would come in handy to thwart that suspicion.
Hope this helps.

 
Hassanawan1985 said:
What are requirement for bank statement ? Will they ask for BS from the day (6 months statement from that pzarticular date) i file EE or the day i rec IAT (6 months bank from that particular date)?
Bank statements are only required if the letter from the bank misses few important details like average balances or if you want to highlight certain transactions and proving that the funds are yours.
If you are planning to include bank statements, get it for last 6 months from the date you get them issued.

If one dont have enough funds but he or she has agriculture inherited property on his or her name, will that count ?
Assets such as house, land and cars are not considered valid POF unless sold and cash deposited in your account along with a valid 'sale deed' for such transaction.
if we try to proof funds by showing we sold property on our name than what are the supporting documents to prof? will simple sale deed work ?
'sale deed' and same amount being transferred to your account through statement or cheque/ internet banking receipt
Below month ends balances are enough to satisfy visa officer ?

Month End Bal CAD Increase
1 576,947 7,211.84
2 691,595 8,644.94 1,433.10
3 921,595 11,519.94 2,875.00 I would suggest you to upload proof of this transaction
4 926,595 11,582.44 62.50
5 971,595 12,144.94 562.50
6 1,021,595 12,769.94 625.00

for last year i was rec my salary in cash so instead of depositing in bank i bought prize bonds(can be bought anywhere no document required but bonds are issued by central bank) in first three month rapid increase was due to i sold my bonds in open market gradually and deposited in bank to show POF and from 2nd month i started depositing my sal in my bank. is it ok ? i have photo copies of all bonds in bought but due to its nature it can be bought and sold anywhere no docs required.
As long as you can prove the money belongs to you, you are good to go.
Any advice ?
 
tusharc said:
Hey Guys,

My Funds:-
- I have 17,300 CAD in my checking account currently in USA.
- I also have an account in India with around 5000 CAD
- My wife has an account in India with around 7500 CAD.

My Credit Card Debts, Loans
- I have many credit cards from many banks (with 0 debt, i pay them off every month)
- I have a car loan of around 20,000 CAD

I have 2 people for which I have to show funds for (me and my wife).
I don't know how hard it would be to get Letters from banks in India (since I am living in USA now)

My questions are:
1. Do I have to get letters from all the banks I have credit cards of with there 6 month statements?
Not required. Just upload letter from your US bank account along with details of loans and credit cards ( if any)
2. Do I have to get letter from the financial institution that has issued me the Car loan with its 6 month statements?
Not required
3. Will getting a POF letter with 6 month statements from my USA checking account suffice my case or I should get POF letters from my and my wife's bank accounts in India to be on the safer side?
Since your US account covers the LICO, you can show this account only. CIC is concerned only about LICO and that you shouldn't have borrowed that sum. Home loan and car loan doesn't impact your POF
Thanks in advance
 
Inland.
Open work permit.

Already settled, good accomodation, vehicle, licence and employed.

How do I go about POF for express entry eAPR? Will I have to get the full amount in Canadian bank account?
 
pedestal-man said:
Inland.
Open work permit.

Already settled, good accomodation, vehicle, licence and employed.

How do I go about POF for express entry eAPR? Will I have to get the full amount in Canadian bank account?
if you are not CEC then you have to show funds as per your family size.
You can show funds through bank accounts spread across any part of the world.
 
kaushalyap said:
Can I show my EPF (which is maintained by central bank) as POF? I can withdraw the same if I'm migrating.
yes, you can show EPF
 
Hi guys,
I received OINP NOI on 12 April,
I have a big problem with POF and seek your help and advice here,
I have had 12300 CAD in my bank account for a month now ( 15 Mar till now ) , As it was a big deposit I found that I needed to show the source of these funds, this money was given by my mother in the form of cash, how can I prove this now?
I am from a country where you cannot buy currency freely, and so I cannot use gift deed as the authorities will not sign the gift and ask "where did you get the amount in dollars as you could not buy it? "
Has anyone encountered such dilemma? Is anyone here from a country with blocked currency exchange ?

Thank you beforehand
 
dear seniors

would like to seek your advice:

i have a joint account with my mom with a balance of about 50k cad. about one week ago, i transferred 15k to a newly opened bank account with my name only. the joint account that we have is all my money.

i am planning to:
1) ask for bank balance for both accounts as at xx apr 17
2) explain that the funds are fully mine and how i transferred the 15k over to under my name only
3) provide last 6 months transaction history that is printed from online banking (it costs $20/month to get the bank to print statement!) to show that bank balance is high -> prob started with about 45k 6 months ago. and to also show salary deposited directly over the 6 months.

do you think this is reasonable and sufficient enough? thank you.