Proof of funds requested. Help!!!

[MarceloS]

Hi. On the Canada Immigration Website, it states that I must have $ 16,255.00 for a family of three.
A. Is this amount in Canadian dollar?
B. When they request me to show proof of funds and since I have $ 13,000.00 in US dollar in my checking account, Do I show them that $ 13,000.00 in US dollar and they will know that this amount changing to Canadian dollar is about $ 16,400.00 or should I request my bank to issue a letter expressing that amount in Canadian dollar?

Thanks in advance.

 

[Leon]

A. Yes, it is in Canadian dollars

B. It might be enough with a bank statement but it is safer to get a bank letter if possible.

 

[MarceloS]

But with the bank letter, Do I ask them to write the amount in Canadian dollar or in US dollar?

Thanks.

 

[ghiaskhan]

Your bank could do that, but do keep in mind currency rates keep changing.Your money in Canadian dollers may increase or decrease depending upon the rates.

 

[gjp]

MarceloS,
I gave my letter from the bank with the amount in US Dollars and I did not have any problem.

 

[CV User]

Investments accounts should be good right?

 

[cchabert]

According to CIC:

Disclosure of funds
You will have to tell a Canadian official if you carry more than $10,000 Canadian in cash funds upon your
entry to Canada. This could be in the form of:
• money (coins or bank notes)
• securities in bearer form (stocks, bonds, debentures, treasury bills etc.)
• negotiable instruments in bearer form (bankers’ drafts, cheques, travellers' cheques,
money orders etc.)
Failure to disclose can result in fines and imprisonment.

 

[CV User]

According to CIC:

Disclosure of funds
You will have to tell a Canadian official if you carry more than $10,000 Canadian in cash funds upon your
entry to Canada. This could be in the form of:
• money (coins or bank notes)
• securities in bearer form (stocks, bonds, debentures, treasury bills etc.)
• negotiable instruments in bearer form (bankers' drafts, cheques, travellers' cheques,
money orders etc.)
Failure to disclose can result in fines and imprisonment.

You mean the amount in the application has to match when you enter? Investments accounts flucutate day by day!

 

[mjsantos]

gjp,

When you gave the bank letter in US dollar, did it show the amount they required in US dollar or it showed less since US is overvalued over Canadian dollar? Example: I need $ 16,000.00 in Canadian Dollar. However, I only have $ 13,000.00 in US dollar in which if you convert it to Canadian dollar I will get the $ 16,000.00. The question is if my bank letter show $ 13,000.00 in Us dollar, will I have any problem?

Thanks.

 

[CV User]

gjp,

When you gave the bank letter in US dollar, did it show the amount they required in US dollar or it showed less since US is overvalued over Canadian dollar? Example: I need $ 16,000.00 in Canadian Dollar. However, I only have $ 13,000.00 in US dollar in which if you convert it to Canadian dollar I will get the $ 16,000.00. The question is if my bank letter show $ 13,000.00 in Us dollar, will I have any problem?

Thanks.

You have to get a letter from your financial institution?

 

[gjp]

My letter from the bank clearly mentioned 'US$' and not just '$'. As long as you show the equivalent of CN$16000, you should be fine.

 

[CV User]

My letter from the bank clearly mentioned 'US$' and not just '$'. As long as you show the equivalent of CN$16000, you should be fine.

Internet statements are ok? Live snapshot?

 

[todiefor]

My letter from the bank clearly mentioned 'US$' and not just '$'. As long as you show the equivalent of CN$16000, you should be fine.

Internet statements are ok? Live snapshot?

internet statements is acceptable, that's what i submitted as my proof of funds.

 

[CV User]

My letter from the bank clearly mentioned 'US$' and not just '$'. As long as you show the equivalent of CN$16000, you should be fine.

Internet statements are ok? Live snapshot?

internet statements is acceptable, that's what i submitted as my proof of funds.

The amount on the application has to be match the exact amount on the statement overall?

 

[cchabert]

The more money you got the better, my brother in law for example, they are 2 persons only and he save around $30,000 they don't said anything (CIC), your goal is what the rules said, that's your minimum, after that is sweet candy.