Proof of Funds (Express Entry)

[Prt0721]

Hi all,

My savings account does not suffice for the amount required to show as proof of fund. Can I also show my PF slips as a proof of fund? Can someone explain the procedure in detail and documents required for showing PF as proof of fund? We have an FD of 1 lakh but it's in my mother's name. Is there any way I can use it as a proof of fund?
Thanks in advance

 

[vishalg]

Hi all,

My savings account does not suffice for the amount required to show as proof of fund. Can I also show my PF slips as a proof of fund? Can someone explain the procedure in detail and documents required for showing PF as proof of fund? We have an FD of 1 lakh but it's in my mother's name. Is there any way I can use it as a proof of fund?
Thanks in advance

If you're talking about EPF then yes it can be shown as POF. Visit your EPF office and get stamped and signed ledger from assistant commissioner and along with it upload UAN card.
Some people have used the online EPF statement along with their payslips/letter from office stating that their EPF amount shall be released upon their resignation.
Joint FD with parents/siblings is not accepted. It should either be in your name or it can be joint with your spouse.

 

[vishalg]

Dear all,
i got the ITA last week and now figuring out the POF. I'm currently having no bank saving account which is 6 months old.
Don't you have a salary account as you would have proved minimum work experience of 1 year.
I only have bank statement which states my monthly salary whose balance is not enough.

• For the minimum required amount for 1 family member ($12,300), I intended to ask my father give $12,300 as a gift to me, then I will prove it as gift deed. Or the 2nd option, I will ask my father to transfer the ownership of the house to me, then I'll liquidate house and deposit the money into my account. For the 2 options, I'm just afraid of the "6 months old" concern.CIC specifically asks for 6 month average, so less than 6 months could be a challenge. However, I believe if you could provide the trail of funds and proof of ownership of those funds then it might work. But I am not sure, if account for lesser duration shall work or not as I have not seen any one doing this.

• The last option is to ask my father to transfer the ownership of his bank savings to me which is already more than 6 months, but the amount of money is much more than $12,300.this option seems more feasible. Check if the ownership can be transferred to your name only and if you can get the letter from the bank along with original account opening date which will be beyond 6 months.

Senior member please help to advice!!! Thank you.

 

[vishalg]

Thank you my friend! Your help is much appreciated.
I'll address that issue in my covering letter for sure.
Thanks again

Along with LOE do upload the deposit slip.

 

[pino1130]

Thank you. Yes I have an account for my 1.5 years working salary but the balance is way too below the minimum requirement.

 

[vishalg]

Thank you. Yes I have an account for my 1.5 years working salary but the balance is way too below the minimum requirement.

Show that account, get a gift from your father. Low averages are okay, if your current balance is above Minimum requirements. Upload the gift deed and proof of transfer (cheque/internet transfer receipt) and as an added safety measure you can show your father's bank account statement ( 6 months).
Hope this helps.

 

[Toma1993]

You do not have to show that you have these funds if:

you have a valid offer of arranged employment in Canada AND
you are currently working or authorized to work in Canada.


Hi,

I had knowledge that , you can skip showing funds only if you are CEC applicant.

From the above statement, If I am FSW applicant, and I have a full time job in Canada, do I need to show funds?

what should you write for proof of funds when u fill up ur express entry?

note i am in Canada working and i was qualified under Canadian experience class

 

[DelPiero07]

what should you write for proof of funds when u fill up ur express entry?

note i am in Canada working and i was qualified under Canadian experience class

If you're a CEC applicant you can put "0"

 

[Toma1993]

If you're a CEC applicant you can put "0"

does it matter if i write my balance bank account for example $5000 ?

 

[DelPiero07]

No, it doesn't matter.

 

[zaidisyed]

Dear,
I need assistant on one point, I have combined account with my mother in Pakistan in which I am sending all my savings from Saudi Arabia. can I show this as proof of fund?

 

[Abhisun15]

Hi,
If anyone can please confirm if FD certificate from a cooperative bank (India) would be eleigible as POF ?

Thanks !

 

[pino1130]

Dear all,
In the eligible test and also when i opened my EE profile, I filled in the amount of money that I'd bring to Canada was 28,000. However, now I got the ITA, can i change the amount to a lower one (13K)? I'm single and family number accordingly is 1.

Please help to clarify !!!
Thank you.

 

[DelPiero07]

Dear all,
In the eligible test and also when i opened my EE profile, I filled in the amount of money that I'd bring to Canada was 28,000. However, now I got the ITA, can i change the amount to a lower one (13K)? I'm single and family number accordingly is 1.

Please help to clarify !!!
Thank you.

Yes, that's fine.

 

[DelPiero07]

Dear,
I need assistant on one point, I have combined account with my mother in Pakistan in which I am sending all my savings from Saudi Arabia. can I show this as proof of fund?

No, the money cannot be in a joint account (only exception is having the money in a joint account with an accompanying spouse).