Proof of Funds (Express Entry)

[gaurang.parmar]

Axis bank is not ready to give balance certificate on letter head. They had given me on plain paper with their stamps. I have shown them other banks are already giving still they refused to give on their letter head.

So will it be ok to upload in cic site ?

 

[Stanlee]

Axis bank is not ready to give balance certificate on letter head. They had given me on plain paper with their stamps. I have shown them other banks are already giving still they refused to give on their letter head.

So will it be ok to upload in cic site ?

Ideally it has to be on the bank letter head. In my personal opinion, if the letter that you have clearly identifies the officer who has signed the letter, try to get his business card and submit it along with signed and stamped monthly bank statements. As long as the details in the letter matches with the monthly statements, I think it should be fine. May be you can also submit an LOE for the same explaining why the bank will not give you a Balance Certificate on their letter head. Still if possible, try to approach a senior manager in the branch and show the CIC requirement and get the letter issued on bank's letter head.

 

[Stanlee]

Hi, I have two important questions.


I am in Canada working and I have received an ITA under the FSW program. Is it okay for me to show for the funds my parents account which is in India, if I include a letter from them stating that the funds are available for my support at any time? I do not have 12,000 dollars to show them under my own name.. - The funds will have to be on the primary applicant's name. You cannot show funds held in your parents' account. You can create an account and get that amount transferred to your account and show it as a gift by executing a Gift Deed.


Also, I currently have a car loan payment here in Canada. Should I include a letter from the financial institution listing the car loan? Can a vehicle's value be considered towards proof of funds? - As per the POF requirement, the funds should be readily transferable to meet your settlement expenses in Canada. In light of this definition and in my opinion, the value of the car does not fall under the category of readily transferable as you will need to find a buyer, execute the sale and then get the proceeds transferred to your account.


Any input on these two questions will be greatly appreciated, thanks!

 

[Stanlee]

Sorry if I am repeating the query.

Is provident fund statement acceptable a PoF? I have read conflicting views. If yes, anyone who recently submitted PF statements?
Also, do PoF documents necessarily need to be converted to CAD before submission?

Check this thread to know more http://www.canadavisa.com/canada-immigration-discussion-board/procedure-to-get-pf-balance-certificate-and-ac-statement-from-pf-office-india-t412640.0.html

 

[Stanlee]

Have a question, in cic website says if you are in Canada you don't need to provide the fund. Is that true or have I understood it wrong? because it then goes on and says other stuff which to me seems contradictory ..

Just being in Canada is not the only requirement. You are exempted from POF only if you meet the following requirements

• you have a valid offer of arranged employment in Canada AND
• you are currently working or authorized to work in Canada.

 

[bamshy]

Have a question, in cic website says if you are in Canada you don't need to provide the fund. Is that true or have I understood it wrong? because it then goes on and says other stuff which to me seems contradictory ..

From my experience, being in Canada has absolutely no meaning to CIC nor does it give you any sort of preferential treatment except if you are invited under CEC and/or have an LMIA. If you are concerned about proof of funds, I suggest you structure your EE profile to get invited for CEC and not FSW

 

[bamshy]

Hi, I have two important questions.


I am in Canada working and I have received an ITA under the FSW program. Is it okay for me to show for the funds my parents account which is in India, if I include a letter from them stating that the funds are available for my support at any time? I do not have 12,000 dollars to show them under my own name..


Also, I currently have a car loan payment here in Canada. Should I include a letter from the financial institution listing the car loan? Can a vehicle's value be considered towards proof of funds?


Any input on these two questions will be greatly appreciated, thanks!

Safest if you can deny the FSW and go the CEC route in my opinion. Car loan? What happens at the dealership stays at the dealership else you may have to worry about additional funds to cover your liability to give 12,164 NOT 12,000 cash networth - my opinion

 

[johnjkjk]

Is it necessary to get a bank letter in the prescribed format (listing all accounts held, balances etc), or is it sufficient to produce bank statements or fixed deposit statements?

Document IMM5621E (Document Checklist Permanent Residence FSW) says "current bank certification letter; or evidence of savings balance; or fixed or time deposit statements." and the CIC website agrees with this but I've seen another website asking for bank letter only.

 

[nekeol]

Is it necessary to get a bank letter in the prescribed format (listing all accounts held, balances etc), or is it sufficient to produce bank statements or fixed deposit statements?

Document IMM5621E (Document Checklist Permanent Residence FSW) says "current bank certification letter; or evidence of savings balance; or fixed or time deposit statements." and the CIC website agrees with this but I've seen another website asking for bank letter only.

only bank statements are enough

 

[johnjkjk]

only bank statements are enough

So scans of the originals are okay or does it need be a copy certified/stamped/signed by the bank? What about digital statements if they look exactly like the paper statement?

 

[Rehan123]

Guys, if anyone borrowed money from A bank and transferred to B bank for personal reason. if the loan of A bank is cleared before submitting the eAPR, shall he can show the fund of Bank B?

Another question: is it mandatory to show 6 months statements. Don't they count 4 months statement??

 

[Heathcliff77]

A question please,

On EE profile they ask how much funds do you intend to bring with you, the required for one person is 12,164$, if for some reason I answer saying maybe 100,000$, when I present the bank statement if it said 13,000$ will that be a problem?

I mean anything above 12,164$ is fine or must it be near the amount I claimed to have?

 

[Col]

@ Asivad. I would like to know about the proof of funds to be maintained for NBPNP. It's website says that sufficient amount must be maintained but doesn't mention of the time and way to maintain (I mean bank statement of 6 months totaling to total fund like in OPNP or min 3 months of bank statement with min funds like in SPNP). So, It would be of grt help if you could shed some light on this matter. I would appreciate if you could cite reference as well.

 

[Heathcliff77]

A question please,

On EE profile they ask how much funds do you intend to bring with you, the required for one person is 12,164$, if for some reason I answer saying maybe 100,000$, when I present the bank statement if it said 13,000$ will that be a problem?

I mean anything above 12,164$ is fine or must it be near the amount I claimed to have?

anyone?

 

[johnjkjk]

anyone?

I had the same dilemma; I was't sure whether to go for the minimum or maximum. Also I was worried that if I entered a low figure, this may not "look good" as opposed to a larger sum. Given that need to demonstrate everything that has been claimed on EE, in your PR application, I'm taking the view that it's better to stick with what I can easily and readily prove without having to faff about getting bank letters etc so I selected a reasonable value above the minimum and got a deposit certificate that exceeds this value. Why take a chance if they turn around and say, but you claimed to have a 100 grand?