PoF - new bank account - rejected?

[forcanada]

Hi
I read on a fb page that a guy's application was rejected because his bank account was less than 6 months old.
Is it a possible reason for rejection?

 

[cyronn]

Hi
I read on a fb page that a guy's application was rejected because his bank account was less than 6 months old.
Is it a possible reason for rejection?

Even I wanna know this. What if the bank account from where we are submitting PoF is less than 6 months old?

 

[Asivad Anac]

Not a problem in itself.

The actual reason for rejection is likely to be that they were not able to prove conclusively that the funds belonged exclusively to them and were not borrowed from anywhere. If you can prove that to CIC's satisfaction, a recently bank account wouldn't be the cause for rejection.

 

[forcanada]

Not a problem in itself.

The actual reason for rejection is likely to be that they were not able to prove conclusively that the funds belonged exclusively to them and were not borrowed from anywhere. If you can prove that to CIC's satisfaction, a recently bank account wouldn't be the cause for rejection.

Thank you Asivad Anac.
I tried to find this '6 months' thing on CIC website, but was unable to do so.
Can someone share the link?

 

[cyronn]

Not a problem in itself.

The actual reason for rejection is likely to be that they were not able to prove conclusively that the funds belonged exclusively to them and were not borrowed from anywhere. If you can prove that to CIC's satisfaction, a recently bank account wouldn't be the cause for rejection.

Thanks Asivad Anac.

 

[Anya654]

Not a problem in itself.

The actual reason for rejection is likely to be that they were not able to prove conclusively that the funds belonged exclusively to them and were not borrowed from anywhere. If you can prove that to CIC's satisfaction, a recently bank account wouldn't be the cause for rejection.

A recent bank account can be the cause for rejection. CIC specifically asked for 6 months average bank statement for a reason - so as to be sure the applicant doesn't borrow these funds. It's difficult to prove that someone with a minimum of 1 year work experience only just opened a bank account. What is to stop someone from obtaining a loan into their primary account and then opening a new bank account to deposit these funds? CIC isn't stupid. So yes, I believe an applicant can be refused for using a new bank account.

 

[Anya654]

Thank you Asivad Anac.
I tried to find this '6 months' thing on CIC website, but was unable to do so.
Can someone share the link?

Here is the link

http://www.cic.gc.ca/english/resources/tools/perm/express/intake-complete.asp

 

[forcanada]

A recent bank account can be the cause for rejection. CIC specifically asked for 6 months average bank statement for a reason - so as to be sure the applicant doesn't borrow these funds. It's difficult to prove that someone with a minimum of 1 year work experience only just opened a bank account. What is to stop someone from obtaining a loan into their primary account and then opening a new bank account to deposit these funds? CIC isn't stupid. So yes, I believe an applicant can be refused for using a new bank account.

That is a big confusion.
I got a new account opened this month for the purpose of showing PoF.
Don't know whether to create an EE profile now or not.
Thanks for the link.

 

[Anya654]

That is a big confusion.
I got a new account opened this month for the purpose of showing PoF.
Don't know whether to create an EE profile now or not.
Thanks for the link.

Why don't you want to use your old account? Opening a new account for the purpose of POF would be very suspicious to CIC and that's why they ask to see the start date of your account.

 

[Asivad Anac]

A recent bank account can be the cause for rejection. CIC specifically asked for 6 months average bank statement for a reason - so as to be sure the applicant doesn't borrow these funds. It's difficult to prove that someone with a minimum of 1 year work experience only just opened a bank account. What is to stop someone from obtaining a loan into their primary account and then opening a new bank account to deposit these funds? CIC isn't stupid. So yes, I believe an applicant can be refused for using a new bank account.

True.

Which is why the focus is on proving that the money belongs to the PA. Not the date of opening the account. It is perfectly legitimate to sell an asset, put the money in a recently opened bank account and use that as POF provided one can prove that the asset belonged exclusively to them and the monies came from legitimate sale of that asset.

I repeat, recency of the bank account ALONE cannot be the cause of refusal.

 

[forcanada]

Why don't you want to use your old account? Opening a new account for the purpose of POF would be very suspicious to CIC and that's why they ask to see the start date of your account.

My old account is a joint one (with my grandfather) and the bank is not providing me a credit card.

 

[Anya654]

My old account is a joint one (with my grandfather) and the bank is not providing me a credit card.

Why do you need a credit card? Just explain and clarify which portion of the funds belong to you. Also collect a signed declaration from your grandfather and other supporting documents to show your proportion of the funds.

 

[forcanada]

Why do you need a credit card? Just explain and clarify which portion of the funds belong to you. Also collect a declaration from your father and other supporting documents to show your proportion of the funds.

Thanks.
I need a credit card to make payments post ITA.
You are right but the bank is not ready to issue a letter on my name as I'm the second holder of the account.

 

[Anya654]

Thanks.
I need a credit card to make payments post ITA.
You are right but the bank is not ready to issue a letter on my name as I'm the second holder of the account.

Then open a new account, transfer your proportion of funds from the joint account to the new one, get a signed declaration from your grandfather stating how much funds belong to you and any other docs, get 6 months statements of the joint account and bank statement of the new account and write a solid letter of explanation.

 

[forcanada]

Then open a new account, transfer your proportion of funds from the joint account to the new one, get a signed declaration from your grandfather stating how much funds belong to you and any other docs, get 6 months statements of the joint account and bank statement of the new account and write a solid letter of explanation.

Yeah, that's why I opened a new bank account.
I plan to create an EE profile next month.