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Requirements to proof of funds

MariaMaria

MariaMaria

Full Member
Oct 22, 2017
34
1
Hi everyone,
Please help to understand.

To prove funds I need to provide a bank statement specifying the average amount of money for each month during a 6-month period.

My question is, do I need to show that I have been having more than $12,669 for the whole 6-month period?
Or I can show that at the end of the period (right before I submit all the documents) my savings have totalled the required amount?


Thank you,
Maria
 
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21Goose

21Goose

VIP Member
Nov 10, 2016
5,246
1,616
AOR Received.
Feb 2017
MariaMaria said:
Hi everyone,
Please help to understand.

To prove funds I need to provide a bank statement specifying the average amount of money for each month during a 6-month period.

My question is, do I need to show that I have been having more than $12,669 for the whole 6-month period?
Or I can show that at the end of the period (right before I submit all the documents) my savings have totalled the required amount?


Thank you,
Maria
Click to expand...
In general, you have to show an average balance that is over the minimum. So if you had $0 in your account for 5 months and then suddenly put in a large sum of money in the last month, it will raise questions and may cause a denial.

If you dropped below the minimum by a small amount in month 3, it shouldn't cause an issue.

The office wants to see whether you really have the money - sometimes people dump in a lot of borrowed money to show proof of funds and then come to Canada without the money.

Here is more information - https://www.canada.ca/en/immigration-refugees-citizenship/services/immigrate-canada/express-entry/documents/proof-funds.html
 
M

Mila_S

Member
Aug 20, 2019
16
2
Hello everyone
We have a financial problem in Lebanon now and the government is applying Capital Control.
My AOR is september 23, and i was wondering if i can take the money of PoF from the bank and keep it at home in case the banks went bankrupt. I don't want to lose my money but I'm afraid IRCC might ask for an updated bank statement later.
Anyone had to deal with such problem? Would IRCC accept any other proof in that case? Thank you
 
A

Abed.d

Newbie
Dec 11, 2019
1
0
Mila_S said:
Hello everyone
We have a financial problem in Lebanon now and the government is applying Capital Control.
My AOR is september 23, and i was wondering if i can take the money of PoF from the bank and keep it at home in case the banks went bankrupt. I don't want to lose my money but I'm afraid IRCC might ask for an updated bank statement later.
Anyone had to deal with such problem? Would IRCC accept any other proof in that case? Thank you
Click to expand...

Hi,

I’m from Lebanon too and I was wondering what did you end up doing.

thanks
 
N

Nadim.abdelnour

Newbie
Jan 13, 2020
2
0
What if my account was in Lebanese pounds, will I still be able to submit my proof of funds in LBP? In case yes, what will be the official conversion rate to USD? 1515 LL ?

Thank you
 
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