Re-investing money post-AOR

[consbear]

Good day to everyone,

I am wondering if there are known cases of rejection because the funds (as listed in POF, with proper bank reference letter listing 6 months average balance) were transferred out to brokers/FDs with other banks (sole account using my name)?

FYI, I have received AOR last week. Thank you in advance!

 

[21Goose]

You may be asked to show PoF when you land. If you are, and the money isn't liquid and in your account, your PR can be cancelled.

Just leave it till you get your PR done. Why risk it for a few months worth of interest?

You can move money out as long as you keep the minimum settlement funds intact. So if you have a lot of money in your account, go ahead and move the excess.

 

[consbear]

You may be asked to show PoF when you land. If you are, and the money isn't liquid and in your account, your PR can be cancelled.

Just leave it till you get your PR done. Why risk it for a few months worth of interest?

You can move money out as long as you keep the minimum settlement funds intact. So if you have a lot of money in your account, go ahead and move the excess.

Thanks for your advice. I will keep the minimum amount of funds plus an extra 5k CAD intact, but trying to re-invest the excess amount of funds elsewhere..

Just concerned that this might trigger something on IRCC side, but I guess they will normally issue a procedural fairness letter first?

 

[21Goose]

Thanks for your advice. I will keep the minimum amount of funds plus an extra 5k CAD intact, but trying to re-invest the excess amount of funds elsewhere..

Just concerned that this might trigger something on IRCC side, but I guess they will normally issue a procedural fairness letter first?

As long as you have the minimum needed, you will not have any issues. You don't need 5K CAD extra. Just keep $500 extra as a buffer.