Confusion on bank statements for Proof of Funds update made by IRCC

[Ravirav]

Hello house,

I am an Express Entry (FSW Inland) applicant. I am in the EE pool since January 2021 and waiting for my ITA.

When i applied back in January 2021, the proof of funds required were 12960 CAD. So i had made sure i have above the minimum all the time. Now i have about 16000 CAD. But there were a few days when the funds were about nearly 13000~13200 CAD.

But now IRCC increased the POF requirement to 13213 CAD.

For FSW, i would need to submit 6 month bank statements when i submit my application. I dont have a problem with the updated minimum funds required. But i'm not sure whether the few days when my funds were less than the new updated POF amount would be a cause of concern.

Request someone to please clarify at the earliest.

Thanks a lot in advance!!!

 

[ayeetee]

No need to worry. Your account could have had less than 5,000 6 months ago because you were not saving so much and within the 6 months get to the amount you have. As long as it makes sense as to where you are getting the funds to feed the account (ie your salary, the sale of propertie(s), etc..

 

[Ravirav]

No need to worry. Your account could have had less than 5,000 6 months ago because you were not saving so much and within the 6 months get to the amount you have. As long as it makes sense as to where you are getting the funds to feed the account (ie your salary, the sale of propertie(s), etc..

Yupp. I am maintaining the minimum required funds as per old POF requirement (12960 CAD). But the POF requirement is now increased to 13213 CAD and there are days in the last 6 months on which i have less than this new POF requirement (That is, funds were >12960 but <13213).

Can you please clarify whether that would be an issue?

 

[ayeetee]

Yupp. I am maintaining the minimum required funds as per old POF requirement (12960 CAD). But the POF requirement is now increased to 13213 CAD and there are days in the last 6 months on which i have less than this new POF requirement (That is, funds were >12960 but <13213).

Can you please clarify whether that would be an issue?

That will not be an issue

 

[Datafricangurl]

If you are waiting for ITA then increase your PoF to the new value set and update It in your application. That’s all you need to do.

 

[Ravirav]

That will not be an issue

Thanks for the clarification ayeetee!!

 

[Ravirav]

If you are waiting for ITA then increase your PoF to the new value set and update It in your application. That’s all you need to do.

Got it. Thank you so much!!!