PROOF OF FUNDS QUERY

[Shreyas90h]

Hello All,

I had a query regarding the proof of funds. I have got ITA in 54th draw.
Total funds requried for an individual are 12300

As of date, I currently have only 11546 CAD in my savings BANK A account and this account which i have has a lot of fluctutations as in i keep shopping from some sites and some items are returned. Hence the funds sometimes rise to 11725 CAD if i return the things as the money gets refunded and again come down to 11546 when i shop again.
Now again if i return the things then it comes to 11650 CAD or something (this amount is approximate amount). For the last 4 months the account has been fluctuating between
10500 CAD to 11921 CAD that is a correct amount range.

Also my balance is not so much infact i reached 11500 CAD mark in month of Novemeber 2016 so if you see i have a lot of complications here as in how am i going to show the
required amount.

The account in this above BANK A is on my name only. However my salary is also not so much that in one salary i get a lot of money. Just recently from Jan 2017 an emi has
started so 190 CAD gets deducted from BANK A account. Now i have stopped the same from march 2017 onwards and it will get deducted from BANK B

Since i left my previous job on 23rd nov 2016. The new job's salary gets credited in BANK B and hence i am now thinking to transfer the salary from BANK B to BANK A because nothing gets credited now in BANK A account

1..My query above here is that how am i going to show my proof of funds ? :'(
2...And if i add some amount to(11546 CAD is current amount and adding 1000CAD) to make the amount eligible to 12500 CAD then will CIC question me from where did you brought this money ? what answer should i give here.
3..Also what more needs to be done from your end. Please guide. I might be missing some parts here. :'(

Thank you in advance.
Regards,

 

[kryt0n]

$1000 addition shouldn't raise that many eyebrows. Where are you planning on getting it from?

 

[gseran]

Shreyas,
IMO you're in a good place. There are many in this forum who arrange for funds after the ITA. I for one have done so. And I'm still marginally short. Like Kryton says 1000$ not properly accounted for may not be that big a deal. You can get a gift deed from a parent and explain your circumstances in the LOE.

Goodluck!

 

[Shreyas90h]

$1000 addition shouldn't raise that many eyebrows. Where are you planning on getting it from?

I am planning to get it from my BANK B account or my mom or dad account. Is that okay ?
Also my question is the amount in the account has fluctuations. So will that be fine ?

I mean what if they question me on that ?If they ask or reject my ITA then ?

 

[vishalg]

I am planning to get it from my BANK B account or my mom or dad account. Is that okay ?
Also my question is the amount in the account has fluctuations. So will that be fine ?

I mean what if they question me on that ?If they ask or reject my ITA then ?

as Kryt0n said, it is not a big difference in the amount held in your account. It would be better if you transfer that amount from your other account. As you can prove it is your money without any gift deed and affidavits

 

[ashwani.m]

Hello All,

I had a query regarding the proof of funds. I have got ITA in 54th draw.
Total funds requried for an individual are 12300

As of date, I currently have only 11546 CAD in my savings BANK A account and this account which i have has a lot of fluctutations as in i keep shopping from some sites and some items are returned. Hence the funds sometimes rise to 11725 CAD if i return the things as the money gets refunded and again come down to 11546 when i shop again.
Now again if i return the things then it comes to 11650 CAD or something (this amount is approximate amount). For the last 4 months the account has been fluctuating between
10500 CAD to 11921 CAD that is a correct amount range.

Also my balance is not so much infact i reached 11500 CAD mark in month of Novemeber 2016 so if you see i have a lot of complications here as in how am i going to show the
required amount.

The account in this above BANK A is on my name only. However my salary is also not so much that in one salary i get a lot of money. Just recently from Jan 2017 an emi has
started so 190 CAD gets deducted from BANK A account. Now i have stopped the same from march 2017 onwards and it will get deducted from BANK B

Since i left my previous job on 23rd nov 2016. The new job's salary gets credited in BANK B and hence i am now thinking to transfer the salary from BANK B to BANK A because nothing gets credited now in BANK A account

1..My query above here is that how am i going to show my proof of funds ? :'(
2...And if i add some amount to(11546 CAD is current amount and adding 1000CAD) to make the amount eligible to 12500 CAD then will CIC question me from where did you brought this money ? what answer should i give here.
3..Also what more needs to be done from your end. Please guide. I might be missing some parts here. :'(

Thank you in advance.
Regards,

In POF, you can combine amount available in more than 1 bank but all accounts should be in your name only. So upload bank statement and letter from both banks and there will be no need to play transfer-transfer between these 2 accounts.

 

[Shreyas90h]

Shreyas,
IMO you're in a good place. There are many in this forum who arrange for funds after the ITA. I for one have done so. And I'm still marginally short. Like Kryton says 1000$ not properly accounted for may not be that big a deal. You can get a gift deed from a parent and explain your circumstances in the LOE.

Goodluck!

Hello Thanks for the solution.
1..Can you please elaborate your solution and tell me?
2..How to get a gift deed done ?
3...How much time it takes for a gift deed to complete?
4..Also after the gift deed is complete, then do i need to attach a photocopy of the gift deed while submitting my application
5...What circumstances are needed to explain here? Is there any limit for LOE i mean how many documents or pages to be included?
I think the less the pages it will be good.

 

[gseran]

Hello Thanks for the solution.
1..Can you please elaborate your solution and tell me?
2..How to get a gift deed done ?
3...How much time it takes for a gift deed to complete?
4..Also after the gift deed is complete, then do i need to attach a photocopy of the gift deed while submitting my application
5...What circumstances are needed to explain here? Is there any limit for LOE i mean how many documents or pages to be included?
I think the less the pages it will be good.

A gift deed is a letter, usually printed on a stamp paper, serving as proof that the money you acquired wasn't borrowed. It's typically a letter explaining the above that's been notarized. You may use this template

GIFT DEED
I, _________________ (name of donor), S/o _________________ (father’s name), R/o
_____________________ (address), do hereby on dated __________ make a gift-deed
for a gift made on dated of ___________, Rs. ______/- (Rupees in word) out of love and
affection to my ____________ (mention the relationship & name of receiver), S/o or
W/o _______________, R/o _________________________.
I confirm that I am a resident Indian. I, further confirm that this gift is being made out of
my own funds standing to the credit of my A/c No.- __________ in
____________(mention the Bank name & address).
I, further confirm that the consideration for this gift is the love and affection for my
____________________ (mention the relationship & name of receiver) and no other
consideration.
I am an Income Tax assessee having PAN/GIR # A-984 / N and assessed with Income
Tax ward 1, Noida and this gift is made out of my past savings from profession in India.
Strictly Confidential 2 P A R Y & Co.
I further confirm that the gift has been made by Cheque No ___________ dated _______
drawn on ___________________________ (mention the Bank name & address). This
gift is irrevocable and I have no claim left whatsoever on the said gifted amount and
he/she is free to utilise it in any manner.
PLACE:
DATED: _______________________
(Donor name)

Witness:
The gift as stated above is accepted
______________________
(Name of receiver)

It only takes as long as you take to get it done.

Yes, you need to attach a scanned copy of the deed in the section where you upload your Proof of Funds. LOE is usually one letter explaining any deviations from what's expected, there's no given format. You just need to explain your situation in your own words. Be honest and there's no need to worry as you're not trying to deceive.

I found this link very useful as this was the steps followed by someone who got his PR eventually.

http://www.canadavisa.com/canada-immigration-discussion-board/sep-18-draw-17-itas-candidates-connect/-t349224.0.html

Good luck!