Question post ITA: Funds Proof

[MunSha]

Hi - I recently received ITA and in process to prepare my documents. I have following questions regarding proof of funds. Could someone please provide your thoughts?

I am currently living in USA and applying as single.

1) I have fixed deposit in HDFC that I am planning to show as POF. Fixed deposit is valid proof of fund, correct?

2) I have around CAD 100K in HDFC bank India as fixed deposit, but I also have around CAD 20K as credit card balance here in USA. So the total valid funds I have is anyways way more than what I need to show (CAD 80k). My question is, is it okay if I only show my HDFC bank documents I.e. balance certificate issued by bank, bank statements last 6 months etc. or do I also need to show my credit card balance statements from USA?

3) The balance certificate issued by bank only has address mentioned but email address and phone number was missing. The IRCC website says that the balance certificate must have bank's address, phone number and email so I requested bank and have them added phone number and email address manually. I hope that should be okay? I also got business card of branch manager that I am planning attach along with POF.

Thanks.

 

[dd23]

If you have sufficient funds in the US accounts just show those as those are easier to verify for IRCC in my opinion, less chance of rejection for US financial institution documents. Otherwise you should declare all liabilities (as required by IRCC) and in your case that should not be a problem since your total funds are ok.

 

[MunSha]

If you have sufficient funds in the US accounts just show those as those are easier to verify for IRCC in my opinion, less chance of rejection for US financial institution documents. Otherwise you should declare all liabilities (as required by IRCC) and in your case that should not be a problem since your total funds are ok.

Thank you! Unfortunately I have moved my all the savings to India so it would not be possible for me to show required funds in USA bank account. Also, fixed deposit is valid POF, correct?

 

[dd23]

I think so, I have not used my Indian funds.

 

[Princes2020]

I just submitted my EE application. Being PNP I didn’t need POF but it was required to finalise the application so I uploaded my Canadian bank statement from online account. But now I read I should have mentioned I am exempt from POF, does it make a difference? Online bank statements r not considered valid proof of funds as per CIC website

 

[MunSha]

I think so, I have not used my Indian funds.

ohhk, lets see if someone else can confirm that. Thanks!

 

[MunSha]

I just submitted my EE application. Being PNP I didn’t need POF but it was required to finalise the application so I uploaded my Canadian bank statement from online account. But now I read I should have mentioned I am exempt from POF, does it make a difference? Online bank statements r not considered valid proof of funds as per CIC website

Hi - just to confirm, you are Canadian Experience Class? If yes, then you don't need to show POF.

 

[dd23]

I just submitted my EE application. Being PNP I didn’t need POF but it was required to finalise the application so I uploaded my Canadian bank statement from online account. But now I read I should have mentioned I am exempt from POF, does it make a difference? Online bank statements r not considered valid proof of funds as per CIC website

You should be ok

 

[YouGotMeHere]

ohhk, lets see if someone else can confirm that. Thanks!

You can use the FD as PoF. Ask HDFC if they can draft a letter stating the current Ballance, Start date of the FD, Avg 6 month Bank Ballance if you're mantaining that separately. Current Obligations with HDFC if any ( Loan, CC). Some of the banks have all this covered in their Annual statement. Not sure if HDFC has one but you might need to customise it. Along with it, also attach a Copy of your US CC dues. You'll be better off by clearing your CC dues upfront now with no need to attach the statement.

 

[MunSha]

You can use the FD as PoF. Ask HDFC if they can draft a letter stating the current Ballance, Start date of the FD, Avg 6 month Bank Ballance if you're mantaining that separately. Current Obligations with HDFC if any ( Loan, CC). Some of the banks have all this covered in their Annual statement. Not sure if HDFC has one but you might need to customise it. Along with it, also attach a Copy of your US CC dues. You'll be better off by clearing your CC dues upfront now with no need to attach the statement.

Yup, I already got the letter from HDFC, thanks!

 

[hsuri]

Yup, I already got the letter from HDFC, thanks!

Hey, I have a similar case, how did you go about getting that letter from HDFC, as in can you explain the process?

 

[MunSha]

Hey, I have a similar case, how did you go about getting that letter from HDFC, as in can you explain the process?

Hi - just go to the bank branch and ask for balance certificate, they should be able to help you out.