Prove of Funds???

[JimRaynor]

Hi there
I need some clarification...I do have enough funds to apply for Study Permit, but I have just put my money in the bank,so my question is do i need to wait for 4 months before applying or can I apply right now?.If I am able to apply can this(not having the funds for 4 months ) be a reason for rejection?
Please give me some advice about this issue.
Thank you

 

[EVIL007]

Do u have the proof of source of money in ur bank account.

 

[JimRaynor]

I have kept all of my US paychecks (I have worked in the US for 1,5 year - that's how I got my savings) can I use them and my US visas as a origin.Also I have kept all my US tax refunds statements

 

[JimRaynor]

Do u have the proof of source of money in ur bank account.

I have kept all of my US paychecks (I have worked in the US for 1,5 year - that's how I got my savings) can I use them and my US visas as a origin.Also I have kept all my US tax refunds statements

 

[Floje]

I have kept all of my US paychecks (I have worked in the US for 1,5 year - that's how I got my savings) can I use them and my US visas as a origin.Also I have kept all my US tax refunds statements

I think it's a good idea to include them in your application as proof of funds.

 

[JimRaynor]

I think it's a good idea to include them in your application as proof of funds.

Do you think that can be used instead of the 4 months bank statements ?

 

[Floje]

If they can justify the source of all the funds in your bank account then you're good to go. But that's just me. Maybe some people who have the same experience as yours could give us a word here.

 

[doobie.doobie]

No need to show justification of your funds.
If you are in Canada and extending your stay as a student, just get it printed and stamped from your bank.
pay at least 1 sem fees and you are golden.
make sure you show at least $3500 CAD.
if it's your initial study permit then follow the cic guidelines of paying the 1st year fee in full and $10,000 CAD in GIC.

 

[Floje]

No need to show justification of your funds.
If you are in Canada and extending your stay as a student, just get it printed and stamped from your bank.
pay at least 1 sem fees and you are golden.
make sure you show at least $3500 CAD.
if it's your initial study permit then follow the cic guidelines of paying the 1st year fee in full and $10,000 CAD in GIC.

Hi doobie.doobie! Thanks for the input.

So CIC wouldn't mind about where we got the funds? I am going to apply soon for a study permit and I have these funds in the bank that has been there for more than 10 years already and are a little more than enough to cover the tuition and living expenses. So there is no need to provide information of its source?

 

[EVIL007]

CIC only asks for proof when there is suspicious transactions like depositing 5 or 6 lakhs in one go.
If your funds are old, they won't ask for any proof.

 

[Floje]

CIC only asks for proof when there is suspicious transactions like depositing 5 or 6 lakhs in one go.
If your funds are old, they won't ask for any proof.

Great! Thank you very much EVIL007! You're not that evil at all!

 

[nivin]

Great! Thank you very much EVIL007! You're not that evil at all!

Hi guys,

I am availing a student loan to fund my studies in Canada. Who should the bank manager address the letter which shows that the loan has been sanctioned?

Thanks.

 

[doobie.doobie]

Dear Floje,
I assume that you are applying an initial study permit.
If you want to be very sure of your visa application, just pay the fees and find a scotiabank partnered bank in your home country.
Furnish a GIC of $10,000 CAD and you are all set.
Feel free to ask questions or inbox if you'd like.
good luck

 

[Floje]

Dear Floje,
I assume that you are applying an initial study permit.
If you want to be very sure of your visa application, just pay the fees and find a scotiabank partnered bank in your home country.
Furnish a GIC of $10,000 CAD and you are all set.
Feel free to ask questions or inbox if you'd like.
good luck

Thanks doobie.doobie! But I don't think GIC applies to me since I am from the Philippines.

 

[doobie.doobie]

You must prove that you can support yourself and the family members who accompany you while you are in Canada. You can prove that you have sufficient funds to support yourself in Canada by showing some of the following:

•proof of a Canadian bank account in your name if money has been transferred to Canada;
•proof of a student/education loan from a financial institution;
•your bank statements for the past four months;
•a bank draft in convertible currency;
•proof of payment of tuition and accommodation fees;
•a letter from the person or institution providing you with money; and
•proof of funding paid from within Canada if you have a scholarship or are in a Canadian-funded educational program.
The following table shows the minimum amounts that you will need.
Single student Tuition plus $10,000 for a 12-month period (or $833 per month)

And yes you can get a GIC from Philipines through Scotiabank