Proof of funds. When should I have it available?

[mjsantos]

Hi. I will need $ 16,225.00. I do have the money already. I have it with me and not in the bank since that the way the economy is in here, I am afraid of losing it. I have just applied in Brazil since the processing time there is about 14 months. when do u guys think I should have the money in the bank? Do they usually ask for a bank statement for a certain period of time?

Thank you.

 

[Leon]

I heard of in one case they asked for bank statements 3 months back to make sure the person didn't just borrow the money. That was a PNP sponsorship case. I have never heard of FSW doing that.

 

[CV User]

Hi. I will need $ 16,225.00. I do have the money already. I have it with me and not in the bank since that the way the economy is in here, I am afraid of losing it. I have just applied in Brazil since the processing time there is about 14 months. when do u guys think I should have the money in the bank? Do they usually ask for a bank statement for a certain period of time?

Thank you.

FDIC covers you up to $250,000 even if the Banks goes Bankrupt so you have nothing to worry about and with that much money, I would be investing that somwhere.

 

[NewYorker]

He is not in US, I guess he is in Brazil. No FDIC there...

 

[mjsantos]

yes, I am in the US. I am applying in Brazil because that is my country of origin and the processing time there is a lot faster than here.

 

[NewYorker]

If that is the case then you rather keep your money in the bank, I will be more afraid if someone take/steal my lifelong saving in one second from my home or where ever you are keeping it. If you are that much worried, just take a locker in the bank and put it there.

If you do that then when CIC will ask you for the bank statement, you will not be able to provide them a steady account statement. CV user is right, keep the money in the US bank, it is FDIC insured, that way you will have a bank statement.

 

[Sisifo]

my request for proof FSW asked for bank statements just 1 month back. however , i gave the whole years statement to show that i had always had the money. i figured it can't hurt my case

 

[mjsantos]

Sisifo, when did you send your application?

 

[martha marita]

I read somewhere about passport HSBC. If there is a local hsbc you could open an account with then for canada hsbc. They will provide with paperwork which will be sent to canada hsbc headquarter for you to open an account in canada from a foreign country with it.
. Wow that money is quite alot and would be sad if someone gets away

 

[NewYorker]

Well the link is right here on this page for HSBC. I will try them also, once I used to have a credit card from them and them I closed the account. Good idea...

 

[todiefor]

Hi. I will need $ 16,225.00. I do have the money already. I have it with me and not in the bank since that the way the economy is in here, I am afraid of losing it. I have just applied in Brazil since the processing time there is about 14 months. when do u guys think I should have the money in the bank? Do they usually ask for a bank statement for a certain period of time?

Thank you.

put the money in CD or money market. the interest rate is guaranteed and you will not loose any dime of it.

 

[ghiaskhan]

You can open an account with HSBC Bank Canada when you are in another country in which HSBC operates. Choose which Canadian branch you want your account to reside with and which type of account you would like to open and your local HSBC office will work with HSBC Bank Canada to set up the requested account. Once HSBC Bank Canada has received the appropriate documentation we will advise your local HSBC of the status of the application


HSBC Passport is designed to help you with your banking in Canada. You will get a chequing account to facilitate all your financial transactions, a MasterCard® with no annual fee, Discounted International Wire Transfers and much more.

Learn more at hsbc.ca




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[cchabert]

I have an account with ING Direct and have the money on CD for 6 months at 3.50%, the savings account with them is 2.75%, from there I'll transfer the money to RBC Centura

 

[ghiaskhan]

Do thats good for you.

 

[CV User]

Try Bankrate.com. Pick the best one. I personally have an E-Loan account, they are pretty competitive on rates throughout the year.