Proof of Funds (Express Entry)

[Ayp1]

Hi guys.
I already submitted my application with my 6months statement of bank account. While I wait for the completion process within 6months. I am thinking of investing my POF in treasury Bills, so as to have a little turn over. Will this be a good idea or wrong. Don’t know if it will affect in anyway?
Please guys... kindly advise

 

[Ayp1]

Hi all,

After going through the forum, I am a bit worried about the transaction in my account.

My fund requirement is 15,772 which will be shown as two seperate FDs. The first FD was created 8 months back and the 2nd FD was created this Feb. I have arranged PoF for the second FD(gift deed)

However, when I submit the bank statement, there is a credit of Rs 1 lac and 40k in month of December. Will this raise any suspicion? (Actually this is also a trasfer from my mom's accounts.)

Should I provide explanation to the source of these funds also? If so, in LOE?

Hi all,

After going through the forum, I am a bit worried about the transaction in my account.

My fund requirement is 15,772 which will be shown as two seperate FDs. The first FD was created 8 months back and the 2nd FD was created this Feb. I have arranged PoF for the second FD(gift deed)

However, when I submit the bank statement, there is a credit of Rs 1 lac and 40k in month of December. Will this raise any suspicion? (Actually this is also a trasfer from my mom's accounts.)

Should I provide explanation to the source of these funds also? If so, in LOE?

yes

 

[Ayp1]

Hi guys.
I have 3kids with an adopted girl of 7years. What are my chances of immigrating to Canada with my wife? In total, that makes us 6 in family size.
Your candid advise please

 

[ClarkeS]

That's exactly what I did and it was approved.

Just to conf

Hi I have a quick question can I just show the 6 month average balance of my savings account for my POF? Or do I need to show my checking account too?

Thanks

What did you end up doing? Did you just show the savings account? I'm in the same situation - one bank has savings account and one bank has the checking...I haven't received ITA yet, but I'm preparing.

 

[tjhunt]

Just to conf


What did you end up doing? Did you just show the savings account? I'm in the same situation - one bank has savings account and one bank has the checking...I haven't received ITA yet, but I'm preparing.

I actually ended up showing both my account from that bank. The Checking account was a bit low, since it was the average compounded balance. Lets see how it goes.

 

[Porya MohSo]

Just to conf


What did you end up doing? Did you just show the savings account? I'm in the same situation - one bank has savings account and one bank has the checking...I haven't received ITA yet, but I'm preparing.

As I knew CIC wished to see 6 months of account balances, while doing my IELTS and WES assessment, I let all my money be in my regular account. So I emptied my saving account and had all my money in regular account and just declared that one to CIC.

 

[Lachelle]

Hi guys,

I need some clarifications. I am applying for pei PNP. I received an email from them requesting me to have my funds available to meet the EE FSW criteria for family of 4 which is cad3,542, then they forwarded me a link about funds for more info. Question, are they asking for proof of funds or they want me to provide the bank draft/cheques to have it on hand? I already included in my first submission my proof of funds. Im just confused. Just want to make sure i am doing the right thing because i only have 10 days to provide this info.
Thank you.

 

[dream_24]

Any update on this guys?

Hi...Hope you settled in Canada by now...I am sailing in the same boat as yours now...Did it work for you??Please let me know...

 

[puigi]

Hello guys,

I am starting to panic about the proof of funds because I have been trying to get a letter in the exact format CIC requires, but my Financial Institution has been adamantly refusing to do so. I have my account with a multinational bank in Mexico, and all of my bank statements include my name, the name of the bank, the address and their contact information of the financial institution. And I have the following documentation on my account, all of which are stamped by the bank branch but printer in black and white (they printed like that at the office):

1) A letter that details all the transactions of the account within the last three months, with the balance of the account after each transaction. This letter only has my name, the address of the bank branch and my name, but not contact information. This letter has the stamp of the bank branch.
2) Each bank statement for the last six months of my savings account. These bank statements are printed in black and white, but stamped by the financial institution, the letterhead of this institution and their contact information.
3) The most recent statement of my credit cards with this financial institution, which includes all the information.
4) I got the business card of the branch manager that helped me to print and stamp all this information.

My question regarding are the following:

1) Is this information enough or should I keep pushing for a letter in the exact format requested by CIC?
2) This information is in Spanish, and they are quite a few pages. Can I only pay the translation for the first page (which includes the letterhead of the bank and my information) and the last (that has the contact information) or do I need to translate all of them?
3) Am I required to submit the unedited bank statements? Many of them have sensitive information that may be misused. I am especially worried regarding the translation stage since this information could be easily abused.
4) Should I still attach my electronic bank information?

Sorry for the long post, but I am freaking out about this part of the application.

 

[Manpreet3]

Hello everyone!
Could someone guide me over this, please ? :-
I had submitted my POF as FD of 15000 CAD $ as a gift deed from my father. This bank account is in different city - 1 hr drive from my hometown ( could this be a concern)
It was a fresh account - no loan - and was ready with funds in Sep 2018. Had applied the file on Nov 2 though.
Balance Certificate and letter have been provided for this.
NOW, in a different bank in my hometown I have a normal saving account like everyone has for daily use. I had provided 6 months statements from this.
I do have a credit card debt going on in this same bank but haven't provided anything about that.

Could someone please guide if my funds look fine?

I am AOR Nov 2, only 15 days are left for 6 months to get over.
Single applicant FSWO - India
Eligibility is being reviewed
No ADR required yet
Background Check is going on since April first week.

Thanks in advance !

 

[Amreeta]

Hi,
Need suggestions.
I received ITA in yesterday's draw. And need to show 15772 cad as POF. if we show the complete POF through FD and EPF, will it be fine? If yes, do we still need to show the last 6 months bank statements?

 

[satish6529]

Hi, I'm having a very nominal amount in my savings account. However, I'm maintaining a Fixed Deposit, linked to the savings account, which is in operation for 02 years now. Now, is it required to mention average 06 months balance OR 06 Bank statements? Please advise.

 

[vigneshkarthi22]

Hi @sundar17feb99 @DelPiero07

I’m closely been watching your responses for the POF Regards.

I really have a doubt and I really need a guidance on this.

I’m a married person with a kid as well. But I’m applying as a single applicant. Do I need to show the funds enough for my family also even when they’re not even in the picture of PR?

I’d be so grateful for any help.

Thanks & Regards,
Vignesh

 

[deeps1987]

Hi @sundar17feb99 @DelPiero07

I’m closely been watching your responses for the POF Regards.

I really have a doubt and I really need a guidance on this.

I’m a married person with a kid as well. But I’m applying as a single applicant. Do I need to show the funds enough for my family also even when they’re not even in the picture of PR?

I’d be so grateful for any help.

Thanks & Regards,
Vignesh

You still have to show fund for 3 people ($19,390) even if your dependents are non accompanying.

Refer https://www.canada.ca/en/immigration-refugees-citizenship/services/immigrate-canada/express-entry/documents/proof-funds.html


The amount of money you need to support your family depends on the size of your family. To calculate the size of your family you must include

• yourself
• your spouse or partner
• your dependent children and
• your spouse’s dependent children

Include your spouse or dependent children even if they’re

• permanent residents or Canadian citizens
• not coming to Canada with you

 

[deeps1987]

Hi, I'm having a very nominal amount in my savings account. However, I'm maintaining a Fixed Deposit, linked to the savings account, which is in operation for 02 years now. Now, is it required to mention average 06 months balance OR 06 Bank statements? Please advise.

If you can produce bank letter or fix deposit certificate indicating the deposit date > 6 months, it would be fine.
However, a word of caution. For several people showing funds in FD, POF has been set for review required by case analyst because some FDs cannot be easily liquidated compare to funds in your saving or chequing account. However, if your FD is expected to mature within few months, you will be fine. Try to procure a letter from bank stating when the FD was created and the amount is readily available to you for withdrawal.