Question on proof of funds for express entry

[samata]

Hey folks,

Wanted to discuss a personal situation and ask for suggestions.

I’m currently working in the US, and am looking to apply for express entry soon. Already took Celpip and just waiting for scores and I imagine I will reach my target score.

Note: All this is assuming I get invited soon (next round or the round after that).

My funds story: all the money I earn, I usually send home (another country) to my parents’ accounts. I usually keep the bare minimum in the my US account (~ 1k USD). I will be able to reach the required amount for EE (14k CAD/11k USD) in the next few weeks through my salary. I checked my bank statements and the average monthly balance through the last 6 months is well above what’s required, but the closing balance has been usually low. I do have around 2k USD in stocks as well, so I could sell those and provide transaction history.

Am I in trouble with POF? I could ask my parents to send the money back and sign a gift deed, but I wanted to avoid it if I could. Would the LOE help? Any other suggestions?

Appreciate the help. Thanks!

 

[pw0032239]

you should have about 12k usd in your bank account when you apply and when you land in canada. i dont think past 6 month statement matters. the amount can be more based on your family size.

 

[iSaidGoodDay]

Hey folks,

Wanted to discuss a personal situation and ask for suggestions.

I’m currently working in the US, and am looking to apply for express entry soon. Already took Celpip and just waiting for scores and I imagine I will reach my target score.

Note: All this is assuming I get invited soon (next round or the round after that).

My funds story: all the money I earn, I usually send home (another country) to my parents’ accounts. I usually keep the bare minimum in the my US account (~ 1k USD). I will be able to reach the required amount for EE (14k CAD/11k USD) in the next few weeks through my salary. I checked my bank statements and the average monthly balance through the last 6 months is well above what’s required, but the closing balance has been usually low. I do have around 2k USD in stocks as well, so I could sell those and provide transaction history.

Am I in trouble with POF? I could ask my parents to send the money back and sign a gift deed, but I wanted to avoid it if I could. Would the LOE help? Any other suggestions?

Appreciate the help. Thanks!

Ask your parents to send the money and sign a gift deed. Anything else would only complicate the situation as you don't have the average monthly balance in your account (I don't know how average would be sufficient to show POF if your balance at the end of the month is always $1K).

 

[iSaidGoodDay]

you should have about 12k usd in your bank account when you apply and when you land in canada. i dont think past 6 month statement matters. the amount can be more based on your family size.

They do mention average balance for past 6 months in the documentation: https://www.canada.ca/en/immigration-refugees-citizenship/services/immigrate-canada/express-entry/documents/proof-funds.html

• these details for each current banking and investment account you have with them
  • account numbers
  • date each account was opened
  • current account balances
  • average balance for the past 6 months

Some banks don't provide the past 6 month average balance on POF letter, so we attach a 6 month statement summary. Some people do get away with attaching a 3 month statement too. But, I'd stick with the documentation for the sake of simplicity of the application

 

[navinball]

You should be fine as long as it's your money and it's not a one time deposit.

 

[iSaidGoodDay]

You should be fine as long as it's your money and it's not a one time deposit.

How would someone prove the POF in this case? Would they show the parent's bank balance? Also, would it need a LOE too?

 

[samata]

Hey folks,

Wanted to discuss a personal situation and ask for suggestions.

I’m currently working in the US, and am looking to apply for express entry soon. Already took Celpip and just waiting for scores and I imagine I will reach my target score omegle xender .

Note: All this is assuming I get invited soon (next round or the round after that) [ .

My funds story: all the money I earn, I usually send home (another country) to my parents’ accounts. I usually keep the bare minimum in the my US account (~ 1k USD). I will be able to reach the required amount for EE (14k CAD/11k USD) in the next few weeks through my salary. I checked my bank statements and the average monthly balance through the last 6 months is well above what’s required, but the closing balance has been usually low. I do have around 2k USD in stocks as well, so I could sell those and provide transaction history.

Am I in trouble with POF? I could ask my parents to send the money back and sign a gift deed, but I wanted to avoid it if I could. Would the LOE help? Any other suggestions?

Appreciate the help. Thanks!

i got this....