Proof of 'Landing Funds" >>>

[fsarosh]

whats the easiest bank as a starter in canada?

TD is the best bank in Canada from every aspect and most of their branches opens from 8am to 8pm whereas the other banks close at 5 pm. Despite all this, i would suggest you to open 2 bank accounts 1 in TD (to put your money and manage your salaries, businesses etc) and 1 in RBC (without making any deposit in the account) for the credit card. The only bad thing is that TD dont gives a credit card to new commers whereas RBC has a special account for the new comers which includes a credit card as well. In Canada, nothing is possible without a good credit history and in order to start making your credit history, you have to have a credit card (which is also usually not given to new comers but only 1 or 2 banks have this provisions including RBC).

 

[rizmayo]

Hello forumites and seniors,

Please, I need clarification as regards proof of fund. I am an FSW applicant, and my visa office is CPP-O. I just received Medical Mail, and instructions to pay right of permanent residence fee for myself and spouse. But there is also an instruction as follows; Updated evidence of settlement funds (showing 6 months deposits/ withdrawals history) for yourself and your spouse, which indicates a minimum of $17,011 CAD.
My questions is as follows;
1. Is it that the deposit and withdrawal transactions history in the account should be $17,011? Just the closing balance. However you will be required to explain any large deposits in your account in the 6 month statement (to ensure the money is not borrowed or gotten through illegal means).
2. I have got a UK bank statement (I also used a UK bank statement when submitting initially) that has over six months transactions, showing deposit and withdrawal, but the transaction is not up to $17,011, however the closing balance will be $21,000. Which I want to send to CIC, can I present the bank statement? Yes this will work. But you will have to explain any large deposits. For example you consistently had £1000 closing balance in your account each month and in the 5th month you got a large deposit of £5,000. CIC will ask you to explain this as it is not consistent with your banking history. In this case it is better to preemptively send an explanation note for that deposit.

Responses from forumites will be greatly appreciated

 

[ranjit7727]

HI

I am a MPMP applicant, i was been told that POF is 10k CAD but these is no clarity on Website, its showing as 11,115 CAD but that is for Federal Skilled worker.

pls someone clarify, what is the amount required for POF for MPNP applicant under General Stream

 

[msaeed]

HI

I am a MPMP applicant, i was been told that POF is 10k CAD but these is no clarity on Website, its showing as 11,115 CAD but that is for Federal Skilled worker.

pls someone clarify, what is the amount required for POF for MPNP applicant under General Stream

Sir

Drop email to your visa office , they will clarify

Stay Blessed

 

[ranjit7727]

Sir

Drop email to your visa office , they will clarify

Stay Blessed

Do you have any idea on the same

 

[msaeed]

Do you have any idea on the same

Dear Ranjit

No idea , its better to ask the Boss
Drop email to your visa office

Stay Blessed

 

[canvis2006]

TD is the best bank in Canada from every aspect and most of their branches opens from 8am to 8pm whereas the other banks close at 5 pm. Despite all this, i would suggest you to open 2 bank accounts 1 in TD (to put your money and manage your salaries, businesses etc) and 1 in RBC (without making any deposit in the account) for the credit card. The only bad thing is that TD dont gives a credit card to new commers whereas RBC has a special account for the new comers which includes a credit card as well. In Canada, nothing is possible without a good credit history and in order to start making your credit history, you have to have a credit card (which is also usually not given to new comers but only 1 or 2 banks have this provisions including RBC).

While having credit cards is certainly helpful in many things, but remember they also have very high interest rates.
Try to build credit but be reminded that they want consumers to be in debt, so be careful when using these cards.

Credit builds over time automatically, it's not a big thing. The important thing is to be responsible so that you're not stuck with debt, which the majority of Canadians are stuck with, as they spend too much with credit cards widely available.

 

[sam439]

Hi Guys,

I am travelling in few days and my spouse and children will accompany me later after 4-5 months. I have a question regarding POF's..

My consultant told me that I can carry upto $11500 CAD as of now as I am travelling alone.
So guys plz let me know is it enough to carry $11500 CAD as of now. I read somewhere that I need to carry all the funds as we are a family of 4, I need to carry $20,599 CAD.

 

[Goingnorth]

What's the best way to show that the funds are light at POE . It's hard to take all the evidence

 

[mute_man]

Hi Guys,
I am travelling in few days and my spouse and children will accompany me later after 4-5 months. I have a question regarding POF's..
My consultant told me that I can carry upto $11500 CAD as of now as I am travelling alone.
So guys plz let me know is it enough to carry $11500 CAD as of now. I read somewhere that I need to carry all the funds as we are a family of 4, I need to carry $20,599 CAD.

at the time of landing, the principle applicant must show the proof of funds regardless of accompanying family members. once principle applicant is through, there'll be no POF required for the rest of the family members whenever they enter CANADA.

 

[mute_man]

What's the best way to show that the funds are light at POE . It's hard to take all the evidence

read the first post of this topic. qorax explained very authentically.

 

[Goingnorth]

read the first post of this topic. qorax explained very authentically.

He didn't say in his post about how to show them that the funds are ligit

 

[mute_man]

*I recommend carrying them in 1)Some Cash, 2)TCs & 3)a Bank Draft [it takes about 30+ days to encash that]. -all the 3 formats [only], No Bank Statement/s.

Note: Also to reiterate that all Immigration Consultants will tell you to carry 'only' one or more of the 3 above. They wouldn't advice you to take a bank statement, why? -Check-it out with some of them.

I hope that helped...
Qorax

Ps: This is just a personal opinion. Others may differ & offer a better advice.

 

[mute_man]

He didn't say in his post about how to show them that the funds are ligit

http://www.cic.gc.ca/english/immigrate/skilled/funds.asp

These funds could be in the form of:
cash
documents that show property or capital payable to you (such as stocks, bonds, debentures, treasury bills, etc.) or
documents that guarantee payment of a set amount of money, which are payable to you (such as bankers’ drafts, cheques, travellers’ cheques or money orders).

 

[msaeed]

http://www.cic.gc.ca/english/immigrate/skilled/funds.asp

These funds could be in the form of:
cash
documents that show property or capital payable to you (such as stocks, bonds, debentures, treasury bills, etc.) or
documents that guarantee payment of a set amount of money, which are payable to you (such as bankers' drafts, cheques, travellers' cheques or money orders).

Sirs

At the time of landing you need to show them either CASH or DD in your or in name of any depended who is travelling with you , and present at that time

Stay Blessed