Proof of Funds

[novsaggi]

CIO & VO will verify proof of funds

Borrowing money reflects on the statements, and leads to -ve impact on ur application
Its better to arrange ur own money in ur account before u apply.

Just be warned on ur loss too, as CIO may deduct ur application fee &
VO will scrutinize ur application in "In process" stage
As soon as application goes into in process, ur money wont be refunded if its rejected
Its not a small amount per person.

Forum is full of examples where applicants hv been rejected in "In process" stage and looking into how to get refunded, but they cannot

 

[Baloo]

Note the following from the CIC website:

It is a serious crime to misrepresent yourself by making false statements, or submitting false information or false documents when dealing with CIC.

Document fraud includes both false and altered documents, such as:

passports and travel documents
visas
diplomas, degrees and apprenticeship or trade papers
birth, marriage, final divorce, annulment, separation or death certificates
police certificates
Lying on an application or in an interview with a CIC officer is also fraud and a crime.

The Government of Canada has officers in Canada and overseas who are highly trained to detect fraud.

If you submit false documents or information, your application will be refused.
You will also face serious consequences. Depending on the situation, these may include:

No entry into Canada for at least two years
A permanent record of fraud in CIC’s database
Having your permanent resident status or Canadian citizenship revoked
Being charged with a crime or removal from Canada.


walidcanada be careful how you proceed.

 

[walidcanada]

Thanks for the wise advice, maybe I didn't explain the situation well for you guys.

I do have my own money but it will be in my account after one month, this money is not from a friend, it's a family share fund so I don't think am doing something illegal rather than I was honest when I replied to you in the previous post. No body can say that it's not my money.

Of course faking documents or doing anything not legal can be treated as a crime but I don't think that in this case I will fall on this by any mean. all of my documents are legal 100% with no doubt.

Thanks for the explanations it's much appreciated.

let me know your opinion

Thanks,
Walid

 

[Cappuccino]

if online statement contains all the info like bank phone no.,fax no.,email and contain header and footer is same as letterhead as if you are taking the print out on bank letter head then it should be fine, because my online bank statement is same as if I have taken the statement on bank letterhead.

I can go to my bank's online banking system and open the statement for my account. I "Save page as HTML", open up the HTML file in Notepad, amend my bank balance, save it and open the HTML page in an internet browser and hit "Print".

Really it is not difficult to forge printouts of online statements, which is why I would be very surprised if CIO accept them as proof of funds. The bank's own letterhead will be an authentic pre-printed paper, which will be different to printing it out yourself at home.

However this is just my opinion on the matter - for piece of mind I would suggest anyone with doubts contacts their visa office to get confirmation of what is and is not acceptable.

Wayne.

 

[haral]

A proper bank statement should have authorized signatures and bank's seal.........so online statements are a serious no no...........

I can go to my bank's online banking system and open the statement for my account. I "Save page as HTML", open up the HTML file in Notepad, amend my bank balance, save it and open the HTML page in an internet browser and hit "Print".

Really it is not difficult to forge printouts of online statements, which is why I would be very surprised if CIO accept them as proof of funds. The bank's own letterhead will be an authentic pre-printed paper, which will be different to printing it out yourself at home.

However this is just my opinion on the matter - for piece of mind I would suggest anyone with doubts contacts their visa office to get confirmation of what is and is not acceptable.

Wayne.

 

[Cappuccino]

Thanks for the wise advice, maybe I didn't explain the situation well for you guys.

I do have my own money but it will be in my account after one month, this money is not from a friend, it's a family share fund so I don't think am doing something illegal rather than I was honest when I replied to you in the previous post. No body can say that it's not my money.

Of course faking documents or doing anything not legal can be treated as a crime but I don't think that in this case I will fall on this by any mean. all of my documents are legal 100% with no doubt.

Thanks for the explanations it's much appreciated.

let me know your opinion

Thanks,
Walid

Hi, well you did say "I will be borrowing the money" so what else were we to think?

Hmm my opinion is that money in a family shared fund is not money which solely belongs to you, or your accompanying spouse, and therefore cannot be used directly as proof of funds. How can CIC tell which portion of the money is yours?

If you want to do it this way my advice would be to transfer the funds that you need to your account, supply bank statements for at least 3 months (6 months if possible) and then in order to explain the large deposit, just tell the truth that this money is from a shared family fund, and get signed letters from each of the other account holders stating that the portion of the funds you withdrew was your own.

This will then be completely transparent and honest to CIC.

If you supply only the bank certificate you are still trying to hide the source of the funds from CIC. Concealing things from CIC is generally considered a rather bad idea

Some people can and do get away with providing only a bank certificate, but what will you do if the visa office ask to see 12 months bank statements once your application reaches the visa office? How will you then explain the large deposit you failed to show or explain with your original application?

Honesty is the best policy - just tell the truth and provide as much in the way of documentation as you can to back that up.

Best of luck.
Wayne.

 

[Cappuccino]

A proper bank statement should have authorized signatures and bank's seal.........so online statements are a serious no no...........

Yes - and as I said, easily forgeable, so I completely agree with you.

Wayne.

 

[walidcanada]

Hi, well you did say "I will be borrowing the money" so what else were we to think?

Hmm my opinion is that money in a family shared fund is not money which solely belongs to you, or your accompanying spouse, and therefore cannot be used directly as proof of funds. How can CIC tell which portion of the money is yours?

If you want to do it this way my advice would be to transfer the funds that you need to your account, supply bank statements for at least 3 months (6 months if possible) and then in order to explain the large deposit, just tell the truth that this money is from a shared family fund, and get signed letters from each of the other account holders stating that the portion of the funds you withdrew was your own.

This will then be completely transparent and honest to CIC.

If you supply only the bank certificate you are still trying to hide the source of the funds from CIC. Concealing things from CIC is generally considered a rather bad idea

Some people can and do get away with providing only a bank certificate, but what will you do if the visa office ask to see 12 months bank statements once your application reaches the visa office? How will you then explain the large deposit you failed to show or explain with your original application?

Honesty is the best policy - just tell the truth and provide as much in the way of documentation as you can to back that up.

Best of luck.
Wayne.

I got your point, I will do my best to get all documents proves that this is my own money.
Thanks brother.

 

[Baloo]

I got your point, I will do my best to get all documents proves that this is my own money.
Thanks brother.

I would agree 100% that being open and honest is the only way with CIC. The onus is on the applicant to follow the rules.
Clearly a VO who "finds" something is going to be more suspicious than a VO who has had full disclosure.

I wish you well on your journey

 

[shaafqatz]

Hi Wayne,

Good to see you back,

What I have done in my case is, taken all the money out of my account and fixed deposited it for a period of one year and I have sent a bank statement on a bank letter head as well as notarized copy of fixed deposit draft along with the application. Is that ok?

AFR

 

[Cappuccino]

Hi Wayne,

Good to see you back,

What I have done in my case is, taken all the money out of my account and fixed deposited it for a period of one year and I have sent a bank statement on a bank letter head as well as notarized copy of fixed deposit draft along with the application. Is that ok?

AFR

Fixed term deposits are accepted as proof of funds I believe. How long ago did you transfer the money? If it was a recent transfer I think you should probably include statements from the source account for 6 months, since it's the history of the funds they will be interested in.

CIC will be asking themselves "Does this money genuinely belong to the applicant, and will it be readily available and unencumbered by debt when they come to settle in Canada?" As long as they can satisfy themselves of this, it will be fine.

Best of luck,
Wayne.

 

[shaafqatz]

I did that back in Feb'11 and the term deposit period is one year. If I don't withdraw the amount after an year, it will continue to be part of fixed term deposit for the extended period of time until I break it, to transfer the amount or use it for any other purpose.

 

[flyus2canada]

Kindly reply to the comment below.

We sent a mix of statements. One (Major one approx 13,000+CAD) was a Bank Statement for the past 5 months. And other one was Online Print out for the remaining CADs. We attached the Bank/Branch contact details and its location etc printed from the website of the same Banks. It was accepted.

I will not recommend a Bank letter that only shows total amount, and no transactions or savings over the year. Reason being they want to know that the money is YOURS. And if you are avoiding Bank Statement, they might think you are hiding something, like borrowed money and large amount at one time. Off course if you had some assets that you disposed off, then you can attach statement with proof, as to where u got the funds from.

Remember all the advices are personal experience, some will work others wont. And sometimes you will get through with something else. All comes down to each individual case. I am so confused! This is the reason for the delay of my application. Are you saying its better to get a bank statement that covers a 6 months transaction with the bank plus a bank certificate indicating full amount? Thank you, hoping for your reply.

 

[flyus2canada]

Kindly reply to the comment below.

 

[devilhimselff]

A proper bank statement should have authorized signatures and bank's seal.........so online statements are a serious no no...........

NO online statements are accepted. I sent one statement on Letter head and the other Print out.
I also provided details of the Bank, Branch and its contact number etc (in case they want to contact and verify your account) etc.
Many other (as posted here on the forum) have sent online statements and are accepted. I guess it might also vary from Bank/Country etc. But I guess, if you provide enough clear details (for verification) it should be ok.