Proof of funds

[sahanik0412]

Guys I have a quick question on POF, I had mutual fund savings and redeemed it to show POF. The amt was transferred to my Citi bank account and later I transferred it to my State Bank account.

Now, I have shown only my SBI account details for POF. Should I also have shown my Citi bank account details? I had a tough time getting letter from Citibank hence decided to show only SBI.

Since I have attached account statement of my SBI account, I am afraid if immigration officer will raise doubts about multiple accounts.

PS, our AOR was 3rd Aug, 23rd MEP completion. I am applying as dependent and wife is primary applicant. We have also created No objection certificate for using the funds in my account.

Need inputs if I have to raise a web form and explain about Citibank account.

 

[dhruv_delhi]

No need. As long as you have the minimum amount required for both of you, in SBI account.

 

[dotslash227]

You need to show 6 months statement of the account you are using as POF, but, the problem is your SBI account just recently got a huge chunk of money and it certainly raises questions on from where you had got the $$$. Questions like are the funds legal? Are the funds borrowed? Did you borrow it from someone for POF and will repay it to them later? Questions like that.

You should write an LOE detailing that you redeemed your mutual fund savings and received it in your Citibank account, however that Citibank was not ready to provide you a bank letter, so you transferred it to your bank account with SBI. And, then, submit statements of Citibank and SBI along with it, to show a trace of your funds.

 

[uppperkut]

If your SBI account shows the source of the money (that is Citibank's full account number), then all you need to show is any proof that the Citibank account is yours. Then it becomes a matter of you moving money between your accounts which is perfectly fine.

In addition to that, the mutual fund savings has to have been sitting in SBI for a while before moving it to Citibank, as this is also essential to show it's yours and not borrowed.