Bank Certificate

[prasanna1157]

Hello,

I am on 475 points and waiting anxiously for the next few draws. I have been saving up some money to get my bank balance up to the required amount. I will soon have enough funds (I think it's around 11000 CAD for single applicant).

However, I won't be able to hold on to the money for long as I have some big expenses coming up. So, can I get a bank letter and then start using the funds? Or should the money be in the account? How long is the bank letter valid?

Is there a specific format? Do I just get a letter with my current balance? Or a 6 month avg? If 6 month avg, then it's going to be low for me.

Also, at this rate, can I expect to get an ITA sometime soon? I'm very worried as I have waited so long.

 

[sushsmart15]

With 475, you can expect to receive ITA in the next few draws.

As a single applicant, you need to demonstrate atleast 12,164 CAD equivalent money in your bank account and you would need to maintain this money in your bank account.
There is no specific format for bank certificate but it should contain - your account name, account number, date of account opening, current balance and average balance for last 6 months.
It does not matter if the past 6 months average balance is low, as long as you are able to prove the source of funds.

It's better to get this updated bank certificate and 6 months bank statement after you receive ITA.

 

[prasanna1157]

Thank you. How long should I maintain this balance? Do they check to see if the balance has been maintained at a later stage in the process?

 

[sushsmart15]

Thank you. How long should I maintain this balance? Do they check to see if the balance has been maintained at a later stage in the process?

It is recommended to maintain the necessary balance until landing