Proof of Funds (Express Entry)

[DelPiero07]

Ok thank you. Perhaps I made a mistake elsewhere in my application then?

Perhaps but there's definitely something odd going on, as you've said you've been working for your employer for a year and yet you are trying to apply via FSW program and not CEC.

 

[Iampositive]

Hi Members,

I have a INR 1000 auto debit in my account (which goes into my sons account) every month i.e. CAD 20 per month. I am showing this account for my POF, will this be an issue?

 

[omarkhan]

Dear all:

I originally intended to sell my car and to show a gift from my father as the remaining amount for pof. Now, I do have a receipt of the car when I bought it on a notarized paper, but I still dont have it properly registered in my name, and to register it in my name it can take time long enough for my ITA to expire. I can however, sell it through notarized car transfer deed. Some one advised me that to keep the paper work to the minimum, I can deposit the amount of money from the sale of car into my father's account, and let him gift the complete amount of the proof of funds. Please advise me if this okay? I mean, if they ask for my father's bank statements as well in addition to the gift deed, then I would have to justify where the amount of money from car's sale came from. Please advise.

 

[jackdawn]

Hi Members,

I have a INR 1000 auto debit in my account (which goes into my sons account) every month i.e. CAD 20 per month. I am showing this account for my POF, will this be an issue?

No

 

[jackdawn]

Hello Guys,

I got my ITA two months ago and I am putting together my documents and have a question.

I want to use treasury bills as my proof of funds, do I still need to include my bank statement?

Treasury bills like shares are volatile and might not be accepted as POF, u need to liquidate them and show it in ur account and can use the sale receipt as proof against that deposit

 

[CanadaI'mcoming]

Hey Vishalg,

I have successfully done IELTS and WES to prepare myself for Express Entry.

Now i am working out for my Proof of funds.

I have successfully managed ~14k CAD$ in last 3 months to show up in my bank statement, but i have one on going Vehicle Loan which is auto-deducted every month from my account from last 2 years and is scheduled to be deducted for next 3 years ( total 5 years vehicle installments).

How does this affect my case, because i need to keep this car until fully paid to bank so my (non-dependent) family members can use it in future and it shall be taken care of even after i go to Canada.

Any suggestions, how it will affect my case.

I am a Pakistani National applying from Dubai.

Hi,
I am in the same situation right now. I have my WES, IELTS in place and I have half the money required in my bank account. I will be able to manage and save the rest in another 4 months through my salary. Should I wait before I create a profile for express entry or it is okay to go ahead,borrow and pay back later.

 

[CanadaI'mcoming]

Excuse me, guys!

Have anyone here submited a bank statement / certificate showing Only the current balance ?

Like there is no mention of the last six months transactions .... Just the current balance

For last 6 months, you have to provide the bank statements.

 

[StevieFray]

Guys,
Just a quick question.

I've got 3 letters from the bank.

All required info:
- Name
- Date account open
- Account No
- National ID
- Passport No
- Investment Amount
- Immediate Refund Amount

2 letters verify my investment accounts and the amount in home currency and Canadian dollar which is above the amount required for PoF

The 3rd letter confirms my savings account and the average monthly balance savings I have plus a line that I don't have any loans w bank.
I also got the bank to verify due to policy they won't provide a letter for my credit card.

I then have also attached 2 months credit card statements - April and May 2017.
25k credit limit.
Owing for May: 453.89 which I paid but only reflected in June statement.

Am I still required to show 6 months bank statements? Some say yes, others say no?

Thanks all!

I just gave them what they wanted, 6 months bank statement. So if the VO asked for 6 months, give them that. By you providing all of the other info is good but it doesn't address what they may be looking for such as your banking activity etc.

 

[Kazem]

Hi, my friend is preparing his documents and he has a joint account with his mother which has more than enough funds to show for EE.

Now can he show that bank account as is, or does he need a gift-deed from his mother?

 

[DelPiero07]

Hi, my friend is preparing his documents and he has a joint account with his mother which has more than enough funds to show for EE.

Now can he show that bank account as is, or does he need a gift-deed from his mother?

No, a joint account can only be shown if the money is with the accompanying spouse (or if the non-accompanying spouse writes a NOC).

 

[Kazem]

No, a joint account can only be shown if the money is with the accompanying spouse (or if the non-accompanying spouse writes a NOC).

So does he need to make a separate account and transfer the money in that? Won't a normal gift-deed work in this case as it does in others?

 

[DelPiero07]

So does he need to make a separate account and transfer the money in that? Won't a normal gift-deed work in this case as it does in others?

No because his mother would still have access to such funds and would still be a joint account holder.

The funds must belong to him and to him only. Have your friend inquire if it is possible to convert his joint account to a regular one.

 

[Live life]

Hi, POF requires bank letter with all relationships stated-+ 6 months bank statements?

 

[girish979]

Hi, POF requires bank letter with all relationships stated-+ 6 months bank statements?

ideally Yes

 

[Live life]

ideally Yes

Thanks. For OINP we submitted 6 months bank statements and FD advice .

Can documents submitted with PR application be different from the one submitted for OINP?

Thanks