Canada PR proof of funds - 6 months average

[talhaansari]

Hi All,

Regarding the POF, I am a contractor and have a business account in which I get more than the required amount for Canadian PR on monthly basis as salary. But the problem is that I almost use all of that money for personal and work related purposes(Certifications, Buying stuff that may be required for my work, e.t.c). Now I have the required amount in my account but my 6 months balance wont reflect that amount. Can I attach the payslips of money I was getting as a proof and explain it in LOE?

 

[sahilng]

Hello,

I have a question regarding proof of funds for Express Entry.
While building my profile, I had stated that I'll be able to bring CAD 20,000. Although I was required to bring min. CAD 15,772, since we are only 2 in family (as per this - https://www.canada.ca/en/immigration-refugees-citizenship/services/immigrate-canada/express-entry/documents/proof-funds.html)
My question is - Now that I have received my ITA, can I reduce the amount from CAD 20,000 to ~CAD 18,500? CAD 18,500 is still more than what is min. required. Can this impact my PR application in anyway?

Please let me know!
Thanks in advance!

 

[uppperkut]

Hello,

I have a question regarding proof of funds for Express Entry.
While building my profile, I had stated that I'll be able to bring CAD 20,000. Although I was required to bring min. CAD 15,772, since we are only 2 in family (as per this - https://www.canada.ca/en/immigration-refugees-citizenship/services/immigrate-canada/express-entry/documents/proof-funds.html)
My question is - Now that I have received my ITA, can I reduce the amount from CAD 20,000 to ~CAD 18,500? CAD 18,500 is still more than what is min. required. Can this impact my PR application in anyway?

Please let me know!
Thanks in advance!

No.

 

[sahilng]

No.

Can I not reduce the amount or will it not impact the application? Didn't understand your answer. Please clarify.

 

[UJohnston]

Hi
I have applied as the primary applicant with my husband as secondary. We have a joint bank account that we have recently switched our other accounts to, and a Canadian Dollar Account where the money we need is already converted. I'm presuming that we will need to provide proof from not just our current account and currency account but also from the recently closed accounts to show where the influx of money has come from. Do we also need to show credit card debt for both of us and in the same manner?

 

[uppperkut]

Can I not reduce the amount or will it not impact the application? Didn't understand your answer. Please clarify.

The No was a response to your latter question. No it won't affect your application in any way.

 

[tikna2013]

Hi All,
I am an Express Entry PR applicant under the FSW program.I am planning to travel to Canada in October and I have a query regarding the proof of funds we are required to produce at the POE.
I have maintained a certain amount in my home(indian) bank account which I will be using as proof of funds,I also have a Bank letter signed by the manager stating the funds in my account.However,the entire amount is in Indian currency so I am confused if the Immigration Officer at the POE will accept the Bank letter listing the amount in Indian Currency instead if CAD.
Can anyone throw some light on this?Do i need to get the entire amount converted to CAD before travelling?

 

[mrahman92]

I got ITA under Alberta Provincial Express Entry Nominee program. Is it necessary to show the required funds ($15,772) in the bank even though I'm working in Alberta as a Legal Assistant?

 

[sami2314]

Hello Everyone, need some help regarding POF.

I have declared 20000$ in my ainp profile and i have 70% of that amount in a joint account with my wife.

1. can i transfer remaining from my current account in small transactions over a period of 2 months?? if so,do i need to show any proof that where that money came from to my account?

2. also can i deposit cash as well in small amounts over that period.

just trying to avoid gift deed letter and extra documentations.

 

[zsaty123]

Hi all.
We got the invite and my wife is the primary applicant . I am the accompanying spouse . I have recently transfer around 8 L funds to my wife bank account. This is from my salary account and NRO account. should i also show the 6 months statements?

 

[MateDownUnder]

Hey folks,

If I have multiple bank accounts, I suppose I can combine them.
What if bank doesn't give the reference letter, can I just provide bank statement which I obtained from the branch with name and details except average balance ?
Also, I am currently in Australia and would be applying for eAPR sometime in January. I would be in India that time, can I collect the bank statement now only ? If I obtain now ie., by 25th Nov, there will be fewer deductions and additions in a/c e.g. salary income, grocery expenses, eAPR fee, etc.

Thank you so much.

 

[deeps1987]

Hey folks,

If I have multiple bank accounts, I suppose I can combine them.
What if bank doesn't give the reference letter, can I just provide bank statement which I obtained from the branch with name and details except average balance ?
Also, I am currently in Australia and would be applying for eAPR sometime in January. I would be in India that time, can I collect the bank statement now only ? If I obtain now ie., by 25th Nov, there will be fewer deductions and additions in a/c e.g. salary income, grocery expenses, eAPR fee, etc.

Thank you so much.

If you will ask for reference letter in bank, certainly they won't provide. Please ask for balance letter. You can mention it to your branch representative about your need. If they can provide customized letter with account details, current balance and 6 month average balance, you are good to go. Else ask them what document/letter they can provide. They may have different document/format but till the time they provide you above info, you are good. For average balance, lot of the banks don't provide it. You can ask your bank to print last 6 months statement and give it to you.

Regarding your second question, you can certainly take the letter now and provide it when you submit the document with your application. However, older the document is from the application submission date, chances are more that case officer might ask you to resubmit POF documents for that bank.

 

[MateDownUnder]

If you will ask for reference letter in bank, certainly they won't provide. Please ask for balance letter. You can mention it to your branch representative about your need. If they can provide customized letter with account details, current balance and 6 month average balance, you are good to go. Else ask them what document/letter they can provide. They may have different document/format but till the time they provide you above info, you are good. For average balance, lot of the banks don't provide it. You can ask your bank to print last 6 months statement and give it to you.

Regarding your second question, you can certainly take the letter now and provide it when you submit the document with your application. However, older the document is from the application submission date, chances are more that case officer might ask you to resubmit POF documents for that bank.

Makes sense. Thanks a lot !!!

 

[deeps1987]

[

Hi all.
We got the invite and my wife is the primary applicant . I am the accompanying spouse . I have recently transfer around 8 L funds to my wife bank account. This is from my salary account and NRO account. should i also show the 6 months statements?

Actually, there was no need for you to transfer the money from your account as your wife could have shown funds from your account. All you had to provide same POF documents and a letter signed by you that you are giving access to fund in your account to your wife for PR application.
Since you have already transferred the amount, your wife should submit a letter explaining source of fund and in that she can enclose your bank statement and highlight the transaction where the amount was transferred to her account.

 

[deeps1987]

Hello Everyone, need some help regarding POF.

I have declared 20000$ in my ainp profile and i have 70% of that amount in a joint account with my wife.

1. can i transfer remaining from my current account in small transactions over a period of 2 months?? if so,do i need to show any proof that where that money came from to my account?

2. also can i deposit cash as well in small amounts over that period.

just trying to avoid gift deed letter and extra documentations.

I am not sure why you want to transfer from joint account. Why complicate your POF documentation?