Express Entry - POF - Average Bank Balance

[jmelk]

I am preparing my POF for my ITA. I have managed to save just over $13,000 CAD.

My bank balance over the last 6 months has ranged from $5,934.78 to $12,496.39. Should I have any concerns that my average balance over the past 6 months has not been $13,000 CAD? I've been saving up for this in order to have the money when I received my ITA.

Any insight is greatly appreciated! Thank you!

 

[maypassion89]

I am in the exactly same position as you are.. Can anyone help please?

 

[Elenyan]

I think there is no requirement that your balance must be above the required amount of funds for several months. However, if you had a number of big transfers, I would show them where the money came from. Transaction invoices if it is your other account or gift deed if the money came from another person's account.

 

[maypassion89]

Thank you, Elenyan. I might have to risk it a bit and go ahead with this as it is.

 

[jmelk]

Thank you, Elenyan!

Does anyone know if the requirement of $12,475 for a single person would be calculated by them as your Cash balance (checking/savings) minus your credit card debt? This is my next fear.

Thank you!