Proof of Funds (Express Entry)

[m1988z]

Hi

Anyone here has applied for Canadian PR through express-entry from Australia? If yes, how did you manage to get an official bank statement considering the fact that Australian banks don’t issue customized statement and one can only get statement via their bank’s website!

P.s. how old a bank statement can be when we submit our application?

 

[talhaansari]

Hi

Anyone here has applied for Canadian PR through express-entry from Australia? If yes, how did you manage to get an official bank statement considering the fact that Australian banks don’t issue customized statement and one can only get statement via their bank’s website!

P.s. how old a bank statement can be when we submit our application?

Just call the bank and tell them what you want in the letter. I have an account with ANZ and they did what I asked for.

 

[m1988z]

Just call the bank and tell them what you want in the letter. I have an account with ANZ and they did what I asked for.

My bank account is in Commonwealth bank! I completely explained what I want for them but they just said you can get it online from netbank! The letter is an online one, and I should all transactions for previous 6 months to show total debits and credits

 

[talhaansari]

My bank account is in Commonwealth bank! I completely explained what I want for them but they just said you can get it online from netbank! The letter is an online one, and I should all transactions for previous 6 months to show total debits and credits

Don't know how Commbank does it. Tell them it is for immigration and it is kind of important to stick to CIC guideline. If that doesn't help visit their branch and talk to someone over there.

 

[m1988z]

Don't know how Commbank does it. Tell them it is for immigration and it is kind of important to stick to CIC guideline. If that doesn't help visit their branch and talk to someone over there.

Is it possible for you to send a sample of your bank letter to me? Then I can show it to the branch explaining what is exactly required?

 

[talhaansari]

Is it possible for you to send a sample of your bank letter to me? Then I can show it to the branch explaining what is exactly required?

 

[m1988z]

I appreciate your help but unfortunately I can’t see the image!
Thanks

 

[zsaty123]

Hi All. Whether the bank statements also needs to be on the bank letterhead. I went to Kotak and South Indian bank today and they are giving me the statement in an A4 sheet sign and seal by the bank manager. Only the "proof of fund" letter was on their letter head....

 

[Aady07]

Hi All. Whether the bank statements also needs to be on the bank letterhead. I went to Kotak and South Indian bank today and they are giving me the statement in an A4 sheet sign and seal by the bank manager. Only the "proof of fund" letter was on their letter head....

It's good to go.

 

[deeps1987]

Hi All. Whether the bank statements also needs to be on the bank letterhead. I went to Kotak and South Indian bank today and they are giving me the statement in an A4 sheet sign and seal by the bank manager. Only the "proof of fund" letter was on their letter head....

If they have indicated average balance for last 6 months in the same letter, then no need of statements.

 

[zsaty123]

If they have indicated average balance for last 6 months in the same letter, then no need of statements.

Yes. Thank you

 

[rohillamanish]

Hi Everyone, I have a few questions regarding the proof of funds. I have just began my journey for express entry, gave IELTS and got a decent enough score (8.5L, 8.5R, 8W, 8S) and in the process of getting my ECA done from IQAS (because WES does not recognize Indian MBA as masters for some reason, unless from IIM, etc.). In all probability, I will be creating my EE profile in May-June 2020, and expect an ITA in the subsequent draw since my score would touch 470.

I have a little over 5,500 CAD in my account at the moment, and my mother is going to provide me with a cheque for around 1,850 CAD per month till the time I have sufficient balance of 15,530 CAD required (so 5-6 months). I have around 3,700 CAD invested in mutual funds which I can withdraw whenever I want to, but don't want to withdraw yet and will do so once I have to show the proof of funds. I also have a car loan and 1,500 CAD would still be remaining to be repaid in monthly installments of 215 CAD per month at the time, from the same bank where I'm saving for my proof of funds.

My questions are:

• Can anyone comment if I would need a gift deed from my mother, and/or what should I mention in my LoE while showing my proof of funds?

• What document(s) would I require once I withdraw money from my mutual funds?

• Will my loan create an issue?

Any help is highly appreciated. Thanks!

PS. CAD figures are based on approximate conversions from INR (Indian Rupees)

 

[tsaeed2109]

Hello everyone,

The required funds are in my spouse's account. The funds have been maintained since the past one year. Same average balance. Untouched. However, I am the primary applicant. Do you guys think that I should still give some of my accounts information to the visa officer or is the spouse's account fine? Of course, with a NOC letter and explanation. Anyone who did something like this and was successful? Please advice.

 

[adanac2020]

Hi all,

I am in quite a fix about my proof of funds letter. I received my ITA for my family of 3, on 4th September and had my deadline as 4th November. I got a bank letter early on which stated my current balance as 20K CAD but did not mention my 6 month average balance. While I was gathering all other documents, my dad was diagnosed with cancer and went through surgery and I made some unplanned expenses and my submission also got delayed. Towards the end of my 60 day deadline while reviewing my documents, I noticed I do not have a 6 month average balance and requested an updated letter from my bank. I received that letter with the 6 month average balance shown as 22k CAD just one day before the deadline. I uploaded all documents and got my AOR on 4th November. After submission, while going through the documents, I realized that my current balance had dropped down to 19195 CAD which is 200 CAD short of minimum required (19390 CAD) for a family of 3. This was also because of the fall in Indian currency rate within that month. I know it is my mistake but my situation at that point in time was difficult trying to manage everything. What should I be expecting? Should I prepare for a rejection or can I try raising a CSE and explain my case hoping they consider it? I have arranged for more funds to be added to my account and currently have a balance around 23k CAD. Need advice.

 

[Aady07]

Hi all,

I am in quite a fix about my proof of funds letter. I received my ITA for my family of 3, on 4th September and had my deadline as 4th November. I got a bank letter early on which stated my current balance as 20K CAD but did not mention my 6 month average balance. While I was gathering all other documents, my dad was diagnosed with cancer and went through surgery and I made some unplanned expenses and my submission also got delayed. Towards the end of my 60 day deadline while reviewing my documents, I noticed I do not have a 6 month average balance and requested an updated letter from my bank. I received that letter with the 6 month average balance shown as 22k CAD just one day before the deadline. I uploaded all documents and got my AOR on 4th November. After submission, while going through the documents, I realized that my current balance had dropped down to 19195 CAD which is 200 CAD short of minimum required (19390 CAD) for a family of 3. This was also because of the fall in Indian currency rate within that month. I know it is my mistake but my situation at that point in time was difficult trying to manage everything. What should I be expecting? Should I prepare for a rejection or can I try raising a CSE and explain my case hoping they consider it? I have arranged for more funds to be added to my account and currently have a balance around 23k CAD. Need advice.

Upload the latest statement. Nothing to worry about. Even they take the currency fluctuation under consideration.