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Proof of Funds - Date Considerations

Yaadi_787

Full Member
Dec 17, 2018
41
4
India
Category........
FSW
NOC Code......
0601
App. Filed.......
15-08-18
AOR Received.
11-12-2018
Hi All

I have following queries regarding the PoF letter. I have already received the AOR, but am wondering about this area of my submitted application

i) What date does CIC considers while evaluating availability of funds in the account. Is it Day of creation of express entry profile or day of ITA issuance or day of eAPR form submission.

ii) On the date of submission of my eAPR, the funds were above the cutoff limit in my account and same was also mentioned as current balance in my PoF letter. However, the average monthly balance that was written by bank in the letter was lower than the cut off limit. I will ensure that the funds will stay higher than cut off limit in the respective account for in coming time. Does the 6th month average low balance will negative impact my application ?

Please advice
 

Captmario

Full Member
Nov 2, 2018
44
11
1) Date of eAPR Submission.
2) It is okay if your funds were below cutoff limit in preceding months. IRCC is only concerned whether you have required funds to survive upon arrival and that the funds were not arranged through loans and since your funds are above cutoff when you submitted your application, you should be okay. However you should have some extra in your account to account for exchange rate fluctuations (assuming your bank is not in CAD)
 
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cansha

VIP Member
Aug 1, 2018
6,675
5,853
Hi All

I have following queries regarding the PoF letter. I have already received the AOR, but am wondering about this area of my submitted application

i) What date does CIC considers while evaluating availability of funds in the account. Is it Day of creation of express entry profile or day of ITA issuance or day of eAPR form submission.

ii) On the date of submission of my eAPR, the funds were above the cutoff limit in my account and same was also mentioned as current balance in my PoF letter. However, the average monthly balance that was written by bank in the letter was lower than the cut off limit. I will ensure that the funds will stay higher than cut off limit in the respective account for in coming time. Does the 6th month average low balance will negative impact my application ?

Please advice
1. Date of submission
2. Avg 6 month balance is to make sure you don't have large deposit just for the sake of POF. You should be fine.
 
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Yaadi_787

Full Member
Dec 17, 2018
41
4
India
Category........
FSW
NOC Code......
0601
App. Filed.......
15-08-18
AOR Received.
11-12-2018
1. Date of submission
2. Avg 6 month balance is to make sure you don't have large deposit just for the sake of POF. You should be fine.
Thanks for your clarification
 

Yaadi_787

Full Member
Dec 17, 2018
41
4
India
Category........
FSW
NOC Code......
0601
App. Filed.......
15-08-18
AOR Received.
11-12-2018
1) Date of eAPR Submission.
2) It is okay if your funds were below cutoff limit in preceding months. IRCC is only concerned whether you have required funds to survive upon arrival and that the funds were not arranged through loans and since your funds are above cutoff when you submitted your application, you should be okay. However you should have some extra in your account to account for exchange rate fluctuations (assuming your bank is not in CAD)
Thanks for the tip. I will ensure that currency fluctuations wont matter my PoF amount
 

Mkhedr

Newbie
Dec 17, 2018
9
1
Hello
Sorry just to clarify I am planning to get ITA throw express entry, if i don't have this funds now ,I have to put it now and wait 6 months to apply in express entry ? Or there is another way ?
 

Yaadi_787

Full Member
Dec 17, 2018
41
4
India
Category........
FSW
NOC Code......
0601
App. Filed.......
15-08-18
AOR Received.
11-12-2018
Hello
Sorry just to clarify I am planning to get ITA throw express entry, if i don't have this funds now ,I have to put it now and wait 6 months to apply in express entry ? Or there is another way ?
I guess if you can have the money on the date of your eAPR submission (as members suggested that this is the date CIC considers as funds evaluation date in your account) then you should be fine. It looks like that that you yet to submit your application in the pool. So the sequence for your could be - Application in pool (Date x) ----> ITA (Hopefully) (Date y) ----> eAPR submission (Date z). So, you should have funds by "date z" and the average balance may not matter as such. The only thing is that you should be ready for further scrutiny to prove that the funds which gets deposited in your account all this while are result of your employment (self or salaried) and should not be loaned. Other than bank account you can also use FDs or Gift deeds on your name as means to show the funds. All the best for your application.
 

pursuit_of_happiness

Hero Member
Jul 23, 2018
686
527
Thanks for the tip. I will ensure that currency fluctuations wont matter my PoF amount
quoting @legalfalcon , isn't it true that the dollar rate is locked at the time time of your AOR ? So, currency fluctuations should not matter as long as the amount you showed initially remains maintained on your account throughout your application pricessing timeline.
 

Mkhedr

Newbie
Dec 17, 2018
9
1
I guess if you can have the money on the date of your eAPR submission (as members suggested that this is the date CIC considers as funds evaluation date in your account) then you should be fine. It looks like that that you yet to submit your application in the pool. So the sequence for your could be - Application in pool (Date x) ----> ITA (Hopefully) (Date y) ----> eAPR submission (Date z). So, you should have funds by "date z" and the average balance may not matter as such. The only thing is that you should be ready for further scrutiny to prove that the funds which gets deposited in your account all this while are result of your employment (self or salaried) and should not be loaned. Other than bank account you can also use FDs or Gift deeds on your name as means to show the funds. All the best for your application.
Thanks alot
 

Yaadi_787

Full Member
Dec 17, 2018
41
4
India
Category........
FSW
NOC Code......
0601
App. Filed.......
15-08-18
AOR Received.
11-12-2018
quoting @legalfalcon , isn't it true that the dollar rate is locked at the time time of your AOR ? So, currency fluctuations should not matter as long as the amount you showed initially remains maintained on your account throughout your application pricessing timeline.
Even I am under the same impression (that only currency rate on respective date of submission eAPR matters and it gets locked), but I was going through the some of the rejection reasons of real folks at Immitracker site and one such refused applicant mentioned this as a reason for his file rejection. I was really surprised reading that. I guess this is not specifically mentioned anywhere on any official website of CIC as well (as to the file gets locked with currency rate consideration of submission date). Therefore, I guess its always good to have the extra cushion money in the account to counter any fluctuations.
 

pursuit_of_happiness

Hero Member
Jul 23, 2018
686
527
Even I am under the same impression (that only currency rate on respective date of submission eAPR matters and it gets locked), but I was going through the some of the rejection reasons of real folks at Immitracker site and one such refused applicant mentioned this as a reason for his file rejection. I was really surprised reading that. I guess this is not specifically mentioned anywhere on any official website of CIC as well (as to the file gets locked with currency rate consideration of submission date). Therefore, I guess its always good to have the extra cushion money in the account to counter any fluctuations.
some people move money from accounts that end up falling their account ballance.

lets see what @legalfalcon has to say about it
 

Yaadi_787

Full Member
Dec 17, 2018
41
4
India
Category........
FSW
NOC Code......
0601
App. Filed.......
15-08-18
AOR Received.
11-12-2018
some people move money from accounts that end up falling their account ballance.

lets see what @legalfalcon has to say about it
I guess that's always a concern but perhaps a different concern. What we are trying to figure out here is that lets say applicant does not move any money from the account from the date of submission and when his file comes for scrutiny to CIC agent then on that date the respective amount falls below the cutoff limit due to the listed currency loosing to Canadian dollar. Now, in such a scenario would it get rejected or will it be not an issue as the profile got locked and currency conversation rate of submission will only be noticed. The applicant which I had referred to in my previous post, categorically mentioned that the he did not move out the money but still got rejected as on the day of evaluation (perhaps) the currency has lost value and thus his actual amount came up slightly less than the cut off limit.
 

Yaadi_787

Full Member
Dec 17, 2018
41
4
India
Category........
FSW
NOC Code......
0601
App. Filed.......
15-08-18
AOR Received.
11-12-2018
I guess that's always a concern but perhaps a different concern. What we are trying to figure out here is that lets say applicant does not move any money from the account from the date of submission and when his file comes for scrutiny to CIC agent then on that date the respective amount falls below the cutoff limit due to the listed currency loosing to Canadian dollar. Now, in such a scenario would it get rejected or will it be not an issue as the profile got locked and currency conversation rate of submission will only be noticed. The applicant which I had referred to in my previous post, categorically mentioned that the he did not move out the money but still got rejected as on the day of evaluation (perhaps) the currency has lost value and thus his actual amount came up slightly less than the cut off limit.
Here's the weblink for everyone's reference - https://myimmitracker.com/ca/trackers/consolidated-e-apr-tracker-express-entry-permanent-residency-application/cases/case-46481
 

pursuit_of_happiness

Hero Member
Jul 23, 2018
686
527

Yaadi_787

Full Member
Dec 17, 2018
41
4
India
Category........
FSW
NOC Code......
0601
App. Filed.......
15-08-18
AOR Received.
11-12-2018
i came across this post couple of months back and we had discussion about it might be in August or june thread.

people there seem to agree that the rate gets locked at the time of AOR and pointed something fishy about his case
Hmm... Could be. Lets hope that it gets locked indeed