Proof of funds in TFSA

[Jazz127]

I have been working around 1.5 years so far and I managed to save around 12k.
I put them in my Tax Free Saving Account and It's under my name. (Did't leave them in my regular bank account because of the interest).

Can I use that as my proof of Funds?

 

[f1ahmed]

I have been working around 1.5 years so far and I managed to save around 12k.
I put them in my Tax Free Saving Account and It's under my name. (Did't leave them in my regular bank account because of the interest).

Can I use that as my proof of Funds?

You can for sure use that as POF. TFSA is nothing but a regular account to save tax and you can use that money at any moment you wish. You can transfer it, cash it. So, there should not be any issues at all.

 

[doobie.doobie]

I have been working around 1.5 years so far and I managed to save around 12k.
I put them in my Tax Free Saving Account and It's under my name. (Did't leave them in my regular bank account because of the interest).

Can I use that as my proof of Funds?

I must say that you did a good job.
Make sure the money is not in a Mutual fund. If not, then there is no problem in using it as a proof. You don't even have to transfer into your chequing account. The statement from the bank shoud be enough.
If the money is in a mutual fund, some times you cannot redeem it before 90 days. Check with your financial institution and make sure you redeem it to your chequing account in advance.
Good luck.

 

[Jazz127]

Thank you for the advice. Good luck to you too!