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is the account summary letter provided by chase enough? or is there some other document that they gve? Please let me know


I used summary letter provided by Bank of America. It was neither signed nor stamped, and was only in black / white.I didn't have any issues. I just provided six months online statements too without any stamp or seal along with summary statement.

Just give an explanation that you got letter in standard format provided by bank, and they don't sign or stamp it as a matter of policy.

CIC needs the following in the letter:

- Full account number
- Bank contact info
- Your contact info
- Proper source of funds (like salary etc. and without any borrowing)

If these are present, you are good. People here are simply going overboard stating that it needs to be sealed, stamped blah blah. If you provide correct explanation with all the above with whatever letter you have from your bank, you should be good.
 
I used summary letter provided by Bank of America. It was neither signed nor stamped, and was only in black / white.I didn't have any issues. I just provided six months online statements too without any stamp or seal along with summary statement.

Just give an explanation that you got letter in standard format provided by bank, and they don't sign or stamp it as a matter of policy.

CIC needs the following in the letter:

- Full account number
- Bank contact info
- Your contact info
- Proper source of funds (like salary etc. and without any borrowing)

If these are present, you are good. People here are simply going overboard stating that it needs to be sealed, stamped blah blah. If you provide correct explanation with all the above with whatever letter you have from your bank, you should be good.
Perfect thats exactly what i have. Thanks a lot
 
I got a letter from wells fargo, but it does not list avergae over 6 months. I will attach bank statements from last 6 months along with the letter.
 
Guys i got a bank letter from Chase, it has everything as asked by CIC. The only problem i see is the letter is not printed from a color printer and doesn't have email id (Address and Phone number is present). Will it work ? Thanks in advance.
 
Guys i got a bank letter from Chase, it has everything as asked by CIC. The only problem i see is the letter is not printed from a color printer and doesn't have email id (Address and Phone number is present). Will it work ? Thanks in advance.

No problem. I submitted black and white consolidated statement from Bank of America and had no issues. Just attach 6 month monthly online statements too along with consolidated statement.
 
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Do we need to disclose loans? I've got a significant education loan in another bank account.
Also, are the monthly statements mandatory, if I am submitting the Chase's 12-month average letter?
 
Do we need to disclose loans? I've got a significant education loan in another bank account.
Also, are the monthly statements mandatory, if I am submitting the Chase's 12-month average letter?

No. Loans are to be paid out of future income and not counted against PoF.
 
No. Loans are to be paid out of future income and not counted against PoF.
Thanks!

Since the requirement says disclose all loans - would it still be ok to not disclose, and just show bank accounts? Also, I pay for the loan from the bank account, so there will be line items there showing the transfer of funds to the loan. Would that all be ok?
 
quests for BoA are completed in 48 hrs.
Thanks julientran! I will not waste my time with BoA then. Can anyone with experience in getting a letter from chase bank weigh in on this topic?
Any help is appreciated.
Thanks!
You will not have any issues with the BOA letter or any other banks letter within USA. I personally got the BOA letter which is a B/W letter with no stamp but a general 1-800 number listed on it. In addition I have an account with Amex Personal Savings which is a 100% online bank. They gave me the same letter as BOA. The only important point to remember is make sure they mention the account opening date on the letter. BOA and Amex both are good about it. The older the account the stronger it gets. BOA will give you a 6 month average balance. Amex will not provide the same. in this case ask them to mention the balance of every month for the last 6 month or the whole year. They will do it if you request the same. Hope this helps.
 
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I had the same bank and provided the same letter along with just the first page of last 6 months online BoA statements and it was fine.
 
I am getting a letter from Chase bank where I have a checking account. They provide a black and white printout on Chase letterhead with last 12 months avg balance. From what I have been reading in these forums, it looks like this will be fine. I am also planning to include last 6 months statements. I am still very confused about the following. Can you please help answer these questions for me?

1. I also have 2 credit cards from Chase with very little balance. The Chase letter doesn't mention anything about them. So, should I include credit card statements separately in my POF documents as well?
2. I have a home mortgage loan and a car lease paid from my checking account. Since I am including statements, they will show up as line items. Do I need to mention anything about these in my LOE?
3. I have other credit cards outside of Chase that have zero balances. Payments have been made to them from my checking account. Do I need to include their statements or mention anything about them in the LOE?

Your help is much appreciated.
 
I am getting a letter from Chase bank where I have a checking account. They provide a black and white printout on Chase letterhead with last 12 months avg balance. From what I have been reading in these forums, it looks like this will be fine. I am also planning to include last 6 months statements. I am still very confused about the following. Can you please help answer these questions for me?

1. I also have 2 credit cards from Chase with very little balance. The Chase letter doesn't mention anything about them. So, should I include credit card statements separately in my POF documents as well?
2. I have a home mortgage loan and a car lease paid from my checking account. Since I am including statements, they will show up as line items. Do I need to mention anything about these in my LOE?
3. I have other credit cards outside of Chase that have zero balances. Payments have been made to them from my checking account. Do I need to include their statements or mention anything about them in the LOE?

Your help is much appreciated.


Below is what I did.
I got the chase pre-approved letters for my checking and savings account from the bank. Chase refused to customize this letter as per CIC requirements or even sign and stamp the documents. Thus along with them I also asked for letters from each bank indicating my balance on credit cards. These were the letters provided by the banks.

I created a document, dividing it in liquid assets (bank account letters as proof for each account) followed by my debts (credit card letter as balance due) in case you might want to add documents about mortgage as well.
And showed that my liquid assets even after excluding debt are enough as per CIC requirements for me and mu spouse.

This was my approach. My application is still under process in case you are wondering.
 
Thanks @craig123. Other experts, what do you also suggest I should do for my queries:

1. I also have 2 credit cards from Chase with very little balance. The Chase letter doesn't mention anything about them. So, should I include credit card statements separately in my POF documents as well?
2. I have a home mortgage loan and a car lease paid from my checking account. Since I am including statements, they will show up as line items. Do I need to mention anything about these in my LOE?
3. I have other credit cards outside of Chase that have zero balances. Payments have been made to them from my checking account. Do I need to include their statements or mention anything about them in the LOE?