Yeskakmam said:Does financial institution mean the bank from which we need to take the letter stating that applicant has sufficient funds in his /her account
Yeskakmam said:Does financial institution mean the bank from which we need to take the letter stating that applicant has sufficient funds in his /her account
Singalingali said:
Mine also - well, the bank didn't refuse to do it, just didn't understand. In the letter, they did everything just right, except they said that my average balance in the checking account over the last 6 months had been "in the mid-four figures" and in the savings account "in the mid-five figures". Just like that! That was their second attempt at producing a letter, so since it had all the other information I needed, I simply attached the top sheet of my statements for the last six months, showing opening and closing balances of each account.kakmam said:My bank denied to give me average of last six month statements as it will be tedious for them ???
They are ready to give only bank letter stating the current balance, account opening date and other personal details.
Would this be ok for applying or are there any issues
Thanks Singalingali for inputs.Singalingali said:You're welcome. They're not likely to ask for your statement. They don't want to go through the trouble of looking at your very lengthy bank statement for the last six months. They want your bank to do this for them and give them the average for the last six months. The Express Entry system asks for the summary letter in order to reduce processing times as they would like to complete the processing under 6 months.
Well many people have this issue. Some banks in the UK and other countries will not write that CIC letter to detail. In addition to your bank certificate, however, you should submit your six month bank statement. That's what I did. A bank statement at the beginning usually summarizes d statenent such as date opened, total credit, total debit and closing balance.kakmam said:Thanks Singalingali for inputs.
I am only able to get the balance certificate from bank which has details for current account balance menntioning the account holder name, account opened date and some details regarding the bank..
please suggest if I need to collect any other docs
CanadianDreams419 said:Proof of Funds.
Acceptable Proof of funds are:
- Bank accounts in your name or the name of your accompanying spouse/common-law partner;
- Cash-able investments in your name or the name of your accompanying spouse/common-law partner;
- Cash-able fixed deposits in your name of the name of your accompanying spouse/common-law partner.
Not Acceptable as Proof of funds include:
- Bank accounts in someone else's name;
- Bank accounts which are joint in your name and someone else (other than your accompanying spouse/common-law partner);
- Bank accounts in the name of your spouse who is not accompanying you to Canada ;
- Property valuations;
- Vehicle valuations;
- Jewelry valuations.
Amounts required as based on number of family members:
No.Family Members Funds Required
No.Family Members: 1 $11,931
No.Family Members: 2 $14,853
No.Family Members: 3 $18,260
No.Family Members: 4 $22,170
No.Family Members: 5 $25,145
No.Family Members: 6 $28,359
No.Family Members: 7+ $31,574
You do not have to show that you have these funds if:
- you have a valid offer of arranged employment in Canada AND
- you are currently working or authorized to work in Canada.