+1(514) 937-9445 or Toll-free (Canada & US) +1 (888) 947-9445

Proof of Funds (Express Entry)

deeps1987

Hero Member
Jun 2, 2018
368
93
Chances are that you will not be asked anything. Even if you are asked, they will look at the money you have at that point when you are landing. You should only be concerned if your case officer again send you a request to provide recent POF before PPR though chances are less.
Hi All,
I have applied for my PR with all the documents necessary on 14th November but I did not know that we need to maintain the Proof of Funds bank balance until we get PPR, and so I spent some good amount out of the CAD 12712 I had shown as Proof of Funds. I am already in Canada and waiting for my PGWP currently and working full time (implied status) and I am pretty sure I will bring my balance back to the original amount (or more) by the end of this year. I got this money from my parents as a gift and have also submitted gift deed affidavit.

My question is if and when I get PPR will the drop in my balance be an issue even if I have more than the funds required to immigrate to Canada. Also, the money is my Canadian Bank Account.

Requesting everyone to please let me know of any problems I could face and the potential solution to those problems.
 

pbhanot

Star Member
Nov 15, 2019
149
90
Thats a relief. Thanks for your help!
Chances are that you will not be asked anything. Even if you are asked, they will look at the money you have at that point when you are landing. You should only be concerned if your case officer again send you a request to provide recent POF before PPR though chances are less.
 

sim_11

Full Member
Jun 9, 2019
20
1
Hello,

Really need help asap.
My parents have deposited the cash(in lumpsum amounts) in my account as I am the primary applicant. So, I was thinking if I can ask my parents to transfer the amount in my husband's account by 2 cheques as the gift deed since he is dependent on me. But the consultant is reluctant and advising that since he is the secondary candidate, I can't show pof in his accounts. But I have read around various forums that it is fine if he is an accompanying partner and he is willing to give NOC for the same.
 

deeps1987

Hero Member
Jun 2, 2018
368
93
Hello,

Really need help asap.
My parents have deposited the cash(in lumpsum amounts) in my account as I am the primary applicant. So, I was thinking if I can ask my parents to transfer the amount in my husband's account by 2 cheques as the gift deed since he is dependent on me. But the consultant is reluctant and advising that since he is the secondary candidate, I can't show pof in his accounts. But I have read around various forums that it is fine if he is an accompanying partner and he is willing to give NOC for the same.
What's the problem if you get the money deposited in your account, and get the gift deed from your parents in your name?
 
  • Like
Reactions: dr.josemrod

Successbayo

Full Member
Nov 12, 2018
31
5
I am using about 4 different accounts including RSA for my POF. Do I need to insert a summary page on my POF Upload documents?
 

yeshi2019

Full Member
Nov 10, 2019
42
3
Hi Guys ,

Need your suggestion. I was not aware that we need to maintain 15,722 CAD even if your spouse is not included in PR application. However I have maintained the required amount for the past 6 months, but in between the 6 months for about 8 days my account balance went behind by 10000 RS (200 CAD). Will this cause an issue while submitting my bank statement after getting ITA ?
 

deeps1987

Hero Member
Jun 2, 2018
368
93
Hi Guys ,

Need your suggestion. I was not aware that we need to maintain 15,722 CAD even if your spouse is not included in PR application. However I have maintained the required amount for the past 6 months, but in between the 6 months for about 8 days my account balance went behind by 10000 RS (200 CAD). Will this cause an issue while submitting my bank statement after getting ITA ?
Only current balance matters when you are submitting the documents. So if there was a drop in balance in last 6 months, they won't question unless there have been significant deposits of higher value to meet the balance. If you have just made 200 cad deposit in last 6 months, it is not significant.

However, i would recommend you to add more money in your account to have balance closer to 16K . Because exchange rate fluctuates, and if it drops little bit below the required amount, your appy would be in risk.
 

yeshi2019

Full Member
Nov 10, 2019
42
3
Only current balance matters when you are submitting the documents. So if there was a drop in balance in last 6 months, they won't question unless there have been significant deposits of higher value to meet the balance. If you have just made 200 cad deposit in last 6 months, it is not significant.

However, i would recommend you to add more money in your account to have balance closer to 16K . Because exchange rate fluctuates, and if it drops little bit below the required amount, your appy would be in risk.
Thanks for the clarification. Yes I am maintaining 16000 CAD pertaining to fluctuating currency.
 

Nurustent

Member
Feb 14, 2019
10
0
I have a question regarding proof of funds. I received ITA on the 27.11.2019 and will be getting a gift of my entire settlement funds from my mum next week into a bank account I recently opened. I also will be immediately investing the funds in a fixed deposit. Is the age of the account a problem? Is it okay if I upload the following documents?
1. Notarised letter of gift deed signed by my mum and myself
2. Affidavit of gift deed
3. Fixed deposit certificate
4. Bank reference letter showing details of the investment
5. Statement from date of opening showing the funds from my mum and the corresponding debit by the bank for the investment.
 

canadaball

Full Member
Jun 29, 2019
26
27
Category........
FSW
NOC Code......
2221
I'm showing POF from both my savings account and FD (50% contribution each). I first placed money into FD in August 2018 and it matured in November 2019. It automatically rolled over into a new FD (also 15-month maturity) but I withdrew it and place it into a new FD in December 2019 due to better interest rate. I will be showing the statement for the current FD but since it's less than 6 months old, I will be attached FD statements for the first (matured) and second (cancelled) FD. Would these documentations be sufficient to show that the money has been around for more than 6 months?

Additionally, my bank is strict with the reference letter format and they refuse to state that my FD can be withdrawn at any time. However, it is common practice in my country that all FDs can be withdrawn before maturity. How do I go about tackling this? Is including it in LOE enough?
 

Mr_fabrizio

Star Member
Oct 18, 2018
171
30
I have a question regarding proof of funds. I received ITA on the 27.11.2019 and will be getting a gift of my entire settlement funds from my mum next week into a bank account I recently opened. I also will be immediately investing the funds in a fixed deposit. Is the age of the account a problem? Is it okay if I upload the following documents?
1. Notarised letter of gift deed signed by my mum and myself
2. Affidavit of gift deed
3. Fixed deposit certificate
4. Bank reference letter showing details of the investment
5. Statement from date of opening showing the funds from my mum and the corresponding debit by the bank for the investment.
Perfect...pls Add your 6months statement of account,and an LOE explaining the source of your funds from your mother
 

Xtensio

Full Member
May 8, 2019
31
7
Quick question: CIC Website is stating 6 month of statements for all accounts. Does this apply to loan accounts, too?
I'm not able to get the requested Letter from that bank, so all I have are statements.