Anya654,Anya654 said:
Quick question! So, if the FDs are older than 6 months, there is no need to show proof where I got those funds from, correct?!!!
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- Thread starter sam_172452
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Quick question! So, if the FDs are older than 6 months, there is no need to show proof where I got those funds from, correct?!!!
Everybody mentions FDs. I have money on something called "supersaving account" - it is not an FD, but rather a ...supersaving account 
I understand this is fine...?
I understand this is fine...?
Can you break your supersaving account whenever you wanted to and get those funds in your bank? Then, YES! But my question was about time. Do we still have to show where we got those funds from even though it has been in the FD account for 6 months or older?Michal said:Everybody mentions FDs. I have money on something called "supersaving account" - it is not an FD, but rather a ...supersaving account
I don't think you need to show the source of the funds if it was a stable, constant 6months average balance. If there are any peaks of the inflow, then you would want to prove to CIC that it was not borrowed money. At least that is what I understand.rajkamalmohanram said:
Oh alright! Fixed deposits are "fixed". It just sits in the FD account and generates interest every month. It's not like RD where you add funds every month. This is a one time deposit. In this case, if I have all the money in my FD account, I DO NOT have to show my back statements. I just have to show them the FD advise and the bank letter that certifies that I actually have an FD account with them showing the date of opening and the amount in it. That is what I understand. I am now confused if I have to attach a letter of explanation telling them where I got my funds fromMichal said:
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No need to explain source of funds upfront if the monies have been around for more than 6 months in an account in your name (fixed or supersavings or savings or..). Just ensure that the bank certificate/letter mentions the average balance of last 6 months (or upload 6 months statements in lieu of that requirement).rajkamalmohanram said:Oh alright! Fixed deposits are "fixed". It just sits in the FD account and generates interest every month. In this case, if I have all the money in my FD account, I DO NOT have to show my back statements. I just have to show them the FD advise and the bank letter that certifies that I actually have an FD account with them showing the date of opening and the amount in it. That is what I understand. I am now confused if I have to attach a letter of explanation telling them where I got my funds from
Do u think I need any sort of statement from my wife, with regards to our joint account? We are both going to Canada, she is included in the EE profile, I am the PA, and the statement shows her as the coowner of the account where all the money for EE are saved.
Hi everyone.
I am planning to create EE in September. I have funds in my account for 6 months. However first name is my husband's in that account and I am PA. He will be included in the application. Do you think that would be okay?
I am planning to create EE in September. I have funds in my account for 6 months. However first name is my husband's in that account and I am PA. He will be included in the application. Do you think that would be okay?
One of my friend has filed his application in FSW. He transferred all of the required amount for Pof just few days before submitting the application and didn't attach any LoE or declaration of gift of funds. His bank mentioned only current balance in the letter along with 6 months bank statement.
He got his PPR and is in Canada now.
But now I think I shouldn't have attached declarations for gifting funds and all. Don't know what will be the result now :'(
I can just pray.
Thanks
Silvi
He got his PPR and is in Canada now.
But now I think I shouldn't have attached declarations for gifting funds and all. Don't know what will be the result now :'(
I can just pray.
Thanks
Silvi
now i am worried, My bank just gave me the 6 months transaction history and not the average balance for the last 6 months That is the attachment I included in my application.
That is the attachment I included in my application.I have 3 active accounts in two banks (TD & RBC). I did create a table with the name of the bank, account type, account number and the balance in each account in addition to the letters from the respective financial institution and the past 6 month statements stamped and signed by the bank executive.
yengyeng said:
Your friend is either very lucky that CIC did not question their source of funds and doubt if those funds were borrowed or they haven't told you the full story.Silvi6 said:
CIC has rejected applicants over the years on suspicions of showcasing borrowed funds. In some cases, they have asked for clarifications as well. It probably depends on the officer assigned to the case. You have done the right thing by declaring the gift situation upfront.