Withdraw money out of bank account

[psharma.np]

When can a principal applicant withdraw money out of a bank account ? After receiving RPRF, PPR, visa etc ?

Thanks.

 

[rohansekhri]

Better to leave it intact till you the background check is complete. Withdraw after that.

 

[CanadaWeCome]

When can a principal applicant withdraw money out of a bank account ? After receiving RPRF, PPR, visa etc ?

Thanks.

No, I suggest after landing, because you'll be asked for PoF at the border too, and the officer has all the rights to decline you entry into Canada till he validates your PoF.

 

[smallcoffee2milk]

No, I suggest after landing, because you'll be asked for PoF at the border too, and the officer has all the rights to decline you entry into Canada till he validates your PoF.

Is this for outland candidate only or for inland ppl as well? I thought if you're inland, as long as you maintain an amount that is above the minimum requirement for example: $20,000 on your account, you can still use your money for other living and housing expenses, buy RSP, buy real estate property etc, but keep all the record of big amount purchase for future reference. Correct me if I'm wrong, but what you're saying does make a big difference between failure and success even you get the landing paper.

 

[CanadaWeCome]

Is this for outland candidate only or for inland ppl as well? I thought if you're inland, as long as you maintain an amount that is above the minimum requirement for example: $20,000 on your account, you can still use your money for other living and housing expenses, buy RSP, buy real estate property etc, but keep all the record of big amount purchase for future reference. Correct me if I'm wrong, but what you're saying does make a big difference between failure and success even you get the landing paper.

I was primarily talking about FSW Outlanders...but i guess for inland it shouldn't be any different. Inlanders should maintain till they get their PR Card.

After that all Canadians are equal and have same rights. CIC doesn't care for all Canadians how much each one maintains in his bank account on a day to day basis...

 

[JoacRy]

Sorry just to clarify, I said I would bring at least $12,175 to Canada. I have more than this in my bank accounts (approx $22,000), but are you saying I need to maintain this amount for 6 months?

 

[naresh2020]

No, I suggest after landing, because you'll be asked for PoF at the border too, and the officer has all the rights to decline you entry into Canada till he validates your PoF.

Perfect Answer..

Leave it till landing.. Complete the landing. When you are confident that all the formalities are done for PR.. Then withdraw the amt..

 

[CanadaWeCome]

Sorry just to clarify, I said I would bring at least $12,175 to Canada. I have more than this in my bank accounts (approx $22,000), but are you saying I need to maintain this amount for 6 months?

Just to be sure you are asking about my response above?

No...you need not maintain it...thats your moolah, and meant for your living/spending purpose in Canada...but it's preferable if you maintain some PoF in an account till you receive your PR. After that it's your free will, whatever you do.

 

[JoacRy]

Just to be sure you are asking about my response above?

No...you need not maintain it...thats your moolah, and meant for your living/spending purpose in Canada...but it's preferable if you maintain some PoF in an account till you receive your PR. After that it's your free will, whatever you do.

Hi @CanadaWeCome, yes I was asking about your response above. When you say 'maintain it', in my case do you mean maintain a balance of at least $12,175 in my bank accounts and I can withdraw anything above that?

 

[INR2CAD07]

I was primarily talking about FSW Outlanders...but i guess for inland it shouldn't be any different. Inlanders should maintain till they get their PR Card.

After that all Canadians are equal and have same rights. CIC doesn't care for all Canadians how much each one maintains in his bank account on a day to day basis...

it is not required to keep money till the end... you need to show current balance in your account at the time of apply and at the time of landing. in between it is your money you can translate however you want... CIC can not check the account balance , without your permission...

Of course to play safe you can keep the money till you complete landing...

I know cases who used money and got PPR..

 

[smallcoffee2milk]

Sorry just to clarify, I said I would bring at least $12,175 to Canada. I have more than this in my bank accounts (approx $22,000), but are you saying I need to maintain this amount for 6 months?

I think we're on the same boat, i hv way more than the minimum required amount of cash savings on my bank account in Canada which i'm planning to use partial for uses.

According to this : http://www.cic.gc.ca/english/immigrate/skilled/funds.asp
They said: "Unless you are currently authorized to work in Canada and have a valid job offer from an employer in Canada, or you have been invited to apply under the Canadian Experience Class, you must show that you have enough money to support yourself and your family after you get to Canada."

Which really got me confused on the POF section, I myself as a CEC candidate which r already working in Canada for years and my salary is directly deposited to my Canadian bank account every month, my common sense tells me of course I can take my money to buy grocery, metropass, shopping for clothes etc. However on the other hand, ppl are suggesting leave the money along until PPR or even landing.

 

[sbrs2010]

Hi

It is just the minimum requisite as per family size that is mandatory while landing additional amount is individual's choice.

 

[Asivad Anac]

I think we're on the same boat, i hv way more than the minimum required amount of cash savings on my bank account in Canada which i'm planning to use partial for uses.

According to this : http://www.cic.gc.ca/english/immigrate/skilled/funds.asp
They said: "Unless you are currently authorized to work in Canada and have a valid job offer from an employer in Canada, or you have been invited to apply under the Canadian Experience Class, you must show that you have enough money to support yourself and your family after you get to Canada."

Which really got me confused on the POF section, I myself as a CEC candidate which r already working in Canada for years and my salary is directly deposited to my Canadian bank account every month, my common sense tells me of course I can take my money to buy grocery, metropass, shopping for clothes etc. However on the other hand, ppl are suggesting leave the money along until PPR or even landing.

If you're under CEC, you're completely exempted from POF requirements. For FSW inlanders, POF is mandatory even if they are holding a valid job inside Canada and paying taxes. They will be asked for POF along with the application and might be asked for POF at 'landing' as well.

 

[smallcoffee2milk]

it is not required to keep money till the end... you need to show current balance in your account at the time of apply and at the time of landing. in between it is your money you can translate however you want... CIC can not check the account balance , without your permission...

Of course to play safe you can keep the money till you complete landing...

I know cases who used money and got PPR..

So basically you mean, as long as we keep a "safe balance" on our account, for example at least $10,000 CAD above the minimum requirement, we should be fine getting PPR and landing process right? Thanks !

 

[smallcoffee2milk]

If you're under CEC, you're completely exempted from POF requirements. For FSW inlanders, POF is mandatory even if they are holding a valid job inside Canada and paying taxes. They will be asked for POF along with the application and might be asked for POF at 'landing' as well.

That's exactly the answer i'm looking for, thank you very much !