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

A complete way to nail 'Source of fund' dilemma!

bossofbees

Star Member
Jan 10, 2017
91
14
NOC Code......
2132
Bank statements are required only of your letter is missing average or any other detail which is captured in the statement or if you want to prove some transaction happened through your account.
Bank details are required only for the account which is used for POF, but you might need supporting docs from other accounts if required.
That's what confusing me. My bank says they have a standard format of bank statement, I'm not sure what they include. I read that proof of funds should include:
Bank account number
Bank name, address and contact details
Applicant name
Date of account opening
Total balance (which currency? I requested bank to provide in CAD)
Average bank balance for past six months (How is this calculated?)
All this printed on bank letterhead
Thanks
 

vishalg

Champion Member
Oct 14, 2015
1,115
185
India
NOC Code......
6221
Job Offer........
Pre-Assessed..
That's what confusing me. My bank says they have a standard format of bank statement, I'm not sure what they include. I read that proof of funds should include:
Bank account number
Bank name, address and contact details
Applicant name
Date of account opening
Total balance (which currency? I requested bank to provide in CAD)
Even if they give local currency it is fine. Use an LOE/ covering letter to summarize your POF and is the exchange rate given on bank of Canada's website.
Average bank balance for past six months (How is this calculated?)
Bank has their own way of calculating this.
All this printed on bank letterhead
Thanks
Almost all of the banks ( in India) comply with this request. I'm not sure if you're from India.
Share the soft copy of the format with the bank and then request them. Sometimes they are too lazy to create the format.
 

omarkhan

Hero Member
Oct 12, 2016
564
63
Pakistan
Category........
FSW
Visa Office......
Islamabad
NOC Code......
4011
App. Filed.......
11-08-2017
AOR Received.
11-08-2017
Passport Req..
08/09/2017
Dear all:

For pof half of the money will be gifted to me by my father, while the remaining half shall be coming after I sell my car.

Now I will try my best to convince the buyer to pay me through a cheque so as to have an evidence of the source of funds, but in my country usually people prefer cash payments over cheques. Please suggest what should I do in case I receive the payment in cash. For the receipt, I shall be putting the whole transaction on a notarized stamp paper. Also, the car is on open letter, which means its not registered in my name except that I have a notarized paper of sale deed, that mr X sold a car to me, having details of the car plus the amount paid, signed by both of us and two witnesses. Would this suffice as the proof that car was mine?

Secondly, do I need to pay off my outstanding bank loan and loan taken from my own provident fund before taking a letter from the bank, or is that alright to have some outstanding debts?

Please guide. Thank you.
 
Last edited:

Gbemife

Star Member
Sep 12, 2016
119
40
Visit a public notary and they usually have a sample ready ( or you can find one on this forum) give him your details. He will print it on minimum value of stamp paper as applicable in your state. Donor, donee and witness will sign it. Notary will put his stamp and you're done.
Statements are required only if your bank letter is missing some information like average figures or if you want to highlight certain transactions in your statement and want to explain them using LOE
Hello,
I have a question pls. My sister is gifting me the POF. Do I need to attach her statement of accounts? We are not in the same country, so what do I do about my signature as she will prepare the gift deed from her end. Also can the money be sent from her corporate account, or it must be from a personal account?

Thank you
 

vishalg

Champion Member
Oct 14, 2015
1,115
185
India
NOC Code......
6221
Job Offer........
Pre-Assessed..
Hello,
I have a question pls. My sister is gifting me the POF. Do I need to attach her statement of accounts? We are not in the same country, so what do I do about my signature as she will prepare the gift deed from her end. Also can the money be sent from her corporate account, or it must be from a personal account?

Thank you
You would need a gift deed ( that she can do from her end) and proof of transfer and you can visit your local notary to make acceptance of the gift deed.
The account from where she is transferring should be in her name.
 
  • Like
Reactions: Gbemife

Gbemife

Star Member
Sep 12, 2016
119
40
You would need a gift deed ( that she can do from her end) and proof of transfer and you can visit your local notary to make acceptance of the gift deed.
The account from where she is transferring should be in her name.
Thank you so muh. You have been so helpful. Is there need for an affidavit.
 

dr feras

Champion Member
Jan 27, 2013
1,151
400
dear expert members,
Last piece of paper I had left to apply was the bank letter. Went today to get it, they said we do not issue letters anymore. Not even a fixed format, no letters, only bank statements. So i got a 6 months bank statement, is that enough, or is there anything else I should do?
 

Gbemife

Star Member
Sep 12, 2016
119
40
You would need a gift deed ( that she can do from her end) and proof of transfer and you can visit your local notary to make acceptance of the gift deed.
The account from where she is transferring should be in her name.
Hello Vishalg,
Please how do I get the proof of transfer if she is sending it via an online transaction?
 

dr feras

Champion Member
Jan 27, 2013
1,151
400
dear members,
I would like to have your advice before hitting the submit button.
I was not successful in obtaining a bank letter for my POF. So I included instead 6 months statements showing current balance in my currency equal to 17200 canadian dollars. The amount required for me and my non accompanying son is around 15300.
It shows in the statements my old credit card debt payments. Payments are at less than 100 canadian dollars per month. The remaining balance to be paid is 1600 canadian dollars. I was thinking of declaring my credit card debt in my LOE and providing PDF directly from my online banking showing remaining balance and payments over last 3 months. Do you think this is a good idea?
 

astralsource

Champion Member
Jul 10, 2016
2,059
1,232
Croatia
Category........
FSW
Visa Office......
Ottawa, ON
NOC Code......
5122
App. Filed.......
22-04-2017
AOR Received.
22-04-2017
Med's Request
19-06-2017
Med's Done....
13-04-2017
dear members,
I would like to have your advice before hitting the submit button.
I was not successful in obtaining a bank letter for my POF. So I included instead 6 months statements showing current balance in my currency equal to 17200 canadian dollars. The amount required for me and my non accompanying son is around 15300.
It shows in the statements my old credit card debt payments. Payments are at less than 100 canadian dollars per month. The remaining balance to be paid is 1600 canadian dollars. I was thinking of declaring my credit card debt in my LOE and providing PDF directly from my online banking showing remaining balance and payments over last 3 months. Do you think this is a good idea?
As long as you have all the other mandatory facts in POF (current balance, date of account opening, 6 month balance, bank details), no harm in additional LOE.
 

dr feras

Champion Member
Jan 27, 2013
1,151
400
Bank satements did not inclue date of account opening. It has my name, account number, curency, and detailed statements including current balance. It also has bank stamp. No other details unfortunately, and thats the standard format they provide.
 

astralsource

Champion Member
Jul 10, 2016
2,059
1,232
Croatia
Category........
FSW
Visa Office......
Ottawa, ON
NOC Code......
5122
App. Filed.......
22-04-2017
AOR Received.
22-04-2017
Med's Request
19-06-2017
Med's Done....
13-04-2017
Bank satements did not inclue date of account opening. It has my name, account number, curency, and detailed statements including current balance. It also has bank stamp. No other details unfortunately, and thats the standard format they provide.
Explain that too in LOE!
 

Yuwa

Newbie
Nov 19, 2016
7
0
Hi,
Anyone in Sydney Australia who can recommend a good photo studio for PPR passport photo please.