Cash money as POF

[taylordz]

Hello all.
I got an ITA on June 29. I managed to gather all the needed documents except the Bank Letter. I have the amount of money in cash, as it's not common to keep the money in the bank in my country(Algeria), and I have also a 6 months old account but the money on it is insignificant. My question is: is it possible to deposit the money on the account and submit the bank letter as POF or should I add some explanation documents ?
Please advice as my 2 months period expires in 21 days.
Thank you in advance.

 

[istari]

Hello all.
I got an ITA on June 29. I managed to gather all the needed documents except the Bank Letter. I have the amount of money in cash, as it's not common to keep the money in the bank in my country(Algeria), and I have also a 6 months old account but the money on it is insignificant. My question is: is it possible to deposit the money on the account and submit the bank letter as POF or should I add some explanation documents ?
Please advice as my 2 months period expires in 21 days.
Thank you in advance.

If you make a large deposit, you need some way of proving that the money is yours, and was obtained legally.

 

[taylordz]

Hello.
Yes, it's a large deposit, does a self-signed declaration in front of a city hall officer suffice ?
Thanks for your advices

 

[istari]

Hello.
Yes, it's a large deposit, does a self-signed declaration in front of a city hall officer suffice ?
Thanks for your advices

I doubt it.

Perhaps you could use pay stubs to show that you've earned the money over a long period of time ?

 

[Stanlee]

Hello all.
I got an ITA on June 29. I managed to gather all the needed documents except the Bank Letter. I have the amount of money in cash, as it's not common to keep the money in the bank in my country(Algeria), and I have also a 6 months old account but the money on it is insignificant. My question is: is it possible to deposit the money on the account and submit the bank letter as POF or should I add some explanation documents ?
Please advice as my 2 months period expires in 21 days.
Thank you in advance.

There is no conclusive way to prove that the cash deposited in your account is owned by you or belongs to you. The best way out in your case is to give the money to your parents or siblings, they can deposit it in their account and do a transfer to your bank account. You can claim it as gift from them; you will have to execute a Gift Deed which states that the amount of money transferred by your parents/siblings to you is a gift and not a loan and need not be returned to them.

You will need to submit the following for proof of funds
- Gift Deed
- Balance Certificate on bank letterhead
- Bank statement stamped by the bank
- Letter of Explanation for the gift money

Check these threads to know more about Gift Deed
http://www.canadavisa.com/canada-immigration-discussion-board/sep-18-draw-17-itas-candidates-connect/-t349224.0.html
http://www.canadavisa.com/canada-immigration-discussion-board/proof-of-funds-fsw-still-unclear-about-gift-deed-t230490.0.html
http://www.canadavisa.com/canada-immigration-discussion-board/gift-deed-question-t349874.0.html

 

[taylordz]

What if I provide a self-signed declaration from my father stating that he gave me the money from his own savings in cash ? because, indeed, he gave me a considerable amount of the required money.
Thanks for your replies

Edit : Did not see the above reply.

 

[Stanlee]

What if I provide a self-signed declaration from my father stating that he gave me the money from his own savings in cash ? because, indeed, he gave me a considerable amount of the required money.
Thanks for your replies

Edit : Did not see the above reply.

I hope you can try what I have suggested above. In addition to the gift money, it would be good if you can show some funds of your own (though technically the gift money also belongs to you) or at least some proof of income so that case officer does not smell a rat.

 

[taylordz]

Hello
I can show paystubs but in the local currency not in euros, as our currency is not exportable.
Thanks

 

[Stanlee]

Hello
I can show paystubs but in the local currency not in euros, as our currency is not exportable.
Thanks

That's fine.

 

[taylordz]

Hello.
Just another question regardin the self declaration, is it ok if it's typed ? or should it be hand written ?
Another thing, do I need to sign the declaration or just the donor's signature suffices ?
Thanks again for your replies.

 

[istari]

Hello.
Just another question regardin the self declaration, is it ok if it's typed ? or should it be hand written ?
Another thing, do I need to sign the declaration or just the donor's signature suffices ?
Thanks again for your replies.

I think typed is definitely preferable; the VO doesn't want to have to waist extra time deciphering people's handwriting.

You do not need to sign it; only the donor's signature is necessary.

Remember, if it's being notarised, it will need to be signed in the presence of the notary public.

 

[taylordz]

I think typed is definitely preferable; the VO doesn't want to have to waist extra time deciphering people's handwriting.

You do not need to sign it; only the donor's signature is necessary.

Remember, if it's being notarised, it will need to be signed in the presence of the notary public.

Hello
Thank you for the quick response.
I don't know if we can call this notarized but it will be signed in front of a city hall officer (not sure about the exact name in english). Basically, he will ensure that the paper is signed by the right person. The paper will also be stamped and signed by the officer and including the donor's ID number as well.

Voila.

 

[taylordz]

Hello
I just came out from the city hall, I was told that a self declaration which is related to money cannot be signed there and must be done in front of a notary.
I went to a notary who said that it's possible but they cannot mention another currency other than local currency. So I have 2 other questions :

1- Is it ok that the self declaration is only signed by the donor in front of no one ?
2- If it must be notarized, is it ok that they mention the amount of money in local currency but the actual money which will be deposited on the account is in Euros ?

 

[istari]

Hello
I just came out from the city hall, I was told that a self declaration which is related to money cannot be signed there and must be done in front of a notary.
I went to a notary who said that it's possible but they cannot mention another currency other than local currency. So I have 2 other questions :

1- Is it ok that the self declaration is only signed by the donor in front of no one ?
No, it must be notarised.

2- If it must be notarized, is it ok that they mention the amount of money in local currency but the actual money which will be deposited on the account is in Euros ?
Yes, this is fine.

 

[KOMARI]

How did it go with you?