PROOF OF FUNDS

[HAILMANU]

Hi Guys,

For express entry I don't have sufficient funds (think its around $11,000) I've got like $7000. If I get someone in my family to temporarily transfer money into my a/c to make up the shortfall so I could then show and acceptable balance would that work. I've about read about the 6 month average balance online however while that ask for the average I believe the average doesnt have to equal the minimum amount, once you can show a balance exceeding the minimum your good. Is that correct?

 

[Asivad Anac]

1. If you're applying as single applicant, it has to be at least 11,931 CAD.

2. Yes, you can get it from a blood relative/close family member. Just make sure you also get them to give you a document in writing that this is NOT a loan but a gift extended to you hence it doesn't need to be paid back. In this case, you might also have to worry about any gift taxes, as might be applicable, in that country. Also, submit that letter along with the bank's letter in your post-ITA document list.

3. 6 months average balance will be deduced and indicated by your bank in the letter that they will provide to you on request. This doesn't have any link with POF. Your actual balance as on date of that letter from your bank should be at least 11,931 CAD (or equivalent in local currency as per prevailing exchange rates) if you're a single applicant.

Hope that helps. All the best!