Proof of 'Landing Funds" >>>

[drgladiator]

dear Qorax...i applied post-26 June to CIO...They have started charging CREDIT CARDS as was posted by3-4 guys today...
will it take more time for CIO for encashment of bank draft issued on HSBC bank in Toronto?Approx. hows many days will it take for encashment in Toronto?
thanks

 

[qorax]

dear qorax if there is a Bank draft as a POF then who will be Payee? my name should be as Payee or what and how can i en-cash ? and do we need all in Bank draft or some cash also.
thanks

Payee: Yourself
Cash-Vs-Draft: 20% & 80%

 

[qorax]

dear Qorax...i applied post-26 June to CIO...They have started charging CREDIT CARDS as was posted by3-4 guys today...
will it take more time for CIO for encashment of bank draft issued on HSBC bank in Toronto?Approx. hows many days will it take for encashment in Toronto?
thanks

Give it some more time & u'll have your AOR. A set timeframe cannot be forecasted for the draft's encashment. However, usually by 3-5 months it should be done & the AOR sent. Currently all AORs r a bit delayed - given the overload.

Qorax

 

[drgladiator]

thanks dear Qorax...but my Q was approx. how many days will it take for encashment if CIO sends my bank draft to a HSBC bank branch in Toronto.
For example CIO sent bank draft to Toronto based branch on 7th sept, then approx. by which date i can check encashment of my bank draft(CIO Fee)?
thanks

 

[qorax]

thanks dear Qorax...but my Q was approx. how many days will it take for encashment if CIO sends my bank draft to a HSBC bank branch in Toronto.
For example CIO sent bank draft to Toronto based branch on 7th sept, then approx. by which date i can check encashment of my bank draft(CIO Fee)?
thanks

Drafts of Intl Banks could be encashed within 48 hrs.

Qorax

 

[drgladiator]

thanks dear Qorax..then i can check encashment today

 

[POSITIVE]

daer Qorax,

is it ok to use spouse FDs account for showing POF? i have sent POF as my savings bank a/c plus FDs in my name...now i have withdrwan the amount in savings a/c...
Now is it OK if i show them My spouse's FD as POF(which was NOT mentioned when i sent the bank certificates as POF to CIO this June)?
thanks

 

[qorax]

daer Qorax,

is it ok to use spouse FDs account for showing POF? i have sent POF as my savings bank a/c plus FDs in my name...now i have withdrwan the amount in savings a/c...
Now is it OK if i show them My spouse's FD as POF(which was NOT mentioned when i sent the bank certificates as POF to CIO this June)?
thanks

If I remember right - I've replied to u on this very query somewhere else too.
Yes, accompanying dependent's a/cs r also a valid POF. -Your spouse's will do. Relax!

Qorax

 

[qorax]

hi qorax!

I just would to ask a question to you regarding POF. Honestly, my declared POF in my application is not really my own, I borrowed it from my aunt. I understand that we are required to bring the money and present it at the POE. My question is that, can I bring a bank draft as POF and then days after cancel the draft here in my country? So I dont have to bring them along with me in canada and leave my aunt worrying if I would still return her money or not...

At first, I thought of bringing with me cash then send it back to my aunt when I get there in canada. But it is way too expensive to send via Western Union, so I am really trying to research on other options! I've seen this in CIC website. I just want to confirm from you!

Thank you for your help!

Yes, u can. Once landed - your Aunt can declare the draft as lost & ask her bankers to cancel it. There'd be a Minor Fee though.

BTW, w/out the money how'd u survive in Canada? It's quite expensive here & for 2-4 months u might not be employed. Even if u do get a job - that'd hardly cover your daily expenses. Remember: That CIC guideline for funds is only Ok for 4-6 months survival, max.

ADVISE:
Bring as much money as u can, else u'll be in deep sh*t. Besides, morally down - which'll reflect in your job search as well. And in fact, in everything that u do here. Ppl, plz beware! Landing Funds r as important as the PR. Lack of it - & your days here might just not be worth it!

Qorax

 

[POSITIVE]

dear Qorax,
How many days (approx.)will it take for regular mail frrom Sydney, NS to reach Markham,Ontario?
I hope CIO will send bank draft(fee for FSW1) via regular mail for encashment.
pls clarify.
-POSITIVE

 

[qorax]

dear Qorax,
How many days (approx.)will it take for regular mail frrom Sydney, NS to reach Markham,Ontario?
I hope CIO will send bank draft(fee for FSW1) via regular mail for encashment.
pls clarify.
-POSITIVE

Why? What happened?

 

[POSITIVE]

I am still awaiting encashment of my FSW1 fee which i paid via bank draft (from HDFC to HSBC, ON).
Many persons' CC encashed on 7-9 th sept...so i wanna guess when will my bank draft reach HSBC,ON from CIO,Sydney,NS for encashment ?
i searched Canada Post times(days for delivery)...They vary b/w 1-7 days...
what r ur view Qorax?
thanks

Why? What happened?

 

[qorax]

I am still awaiting encashment of my FSW1 fee which i paid via bank draft (from HDFC to HSBC, ON).
Many persons' CC encashed on 7-9 th sept...so i wanna guess when will my bank draft reach HSBC,ON from CIO,Sydney,NS for encashment ?
i searched Canada Post times(days for delivery)...They vary b/w 1-7 days...
what r ur view Qorax?
thanks

I guess we r discussing about the Processing Fees. It's deposited by the CIO's accounts cell into their bank a/c. And then it'd take 48 hrs to be credited.

When they do that (deposit that draft) is a contention here I believe. As I understand - they'd do so when they "provisionally accept" your case file. Now when that'd occur - depends on the volume & it's inherent queue@CIO.

Qorax

 

[hiabhay]

Hi, I am landing in Toronto on 25th October, 2010. I checked with my bank in Mumbai and I found their rates for CAD is bit expensive whereas the USD is competitive. If I carry some 20% of amount in CAD cash and balance 80% in USD Drafts, will it be accpetable?

Do you think the banks in Canada will offer better exchange rate for USD than in India?

 

[nj123]

Qorax,

Awesome and useful thread!

I'm planning to land in Jan 2010 from South Africa (SA). My wife is canadian(living with me in SA) and we've been regularly transferring money from my SA bank account to her Canadian bank account. Do I still need to show POF? If so, would proof of the transfers suffice?

Thanks