Fund amount to show

[saad.ahmed1816]

Hi All, Me along with my wife and son are applying for immigration. Our needed fund amount is 19093$. During ITA i told them that amount i will have is 20000$. While filling post-iTA i found out that i cannot gather that much amount and i reduced it to 19500$.
Now due to local currency rate dropping that amount exceeded the amount i have stored. Can i reduce the amount to 19100$ so do i have to keep margin.

 

[zohebshaikh]

Hi All, Me along with my wife and son are applying for immigration. Our needed fund amount is 19093$. During ITA i told them that amount i will have is 20000$. While filling post-iTA i found out that i cannot gather that much amount and i reduced it to 19500$.
Now due to local currency rate dropping that amount exceeded the amount i have stored. Can i reduce the amount to 19100$ so do i have to keep margin.

best to try and keep @20k (or more) to accommodate any rate fluctuation impact. Safe to be above, but not below.

 

[saad.ahmed1816]

Anything exceeding 19093$ should be fine?

 

[zohebshaikh]

Anything exceeding 19093$ should be fine?

that's keeping it too close.
understand that the funds they are asking to see is to know that you can survive there in case you were unable to get a job.
think of how you will come across to them when they see you struggling to arrange even the basic cut-off.
i understand 20k may be a stretch, but to be safe keep it as far from the cut-off to accommodate currency fluctuation.
all the best !

 

[saad.ahmed1816]

ah ok thanks. Ill keep it close to 20000$ then. Would something around 19800$ be ok?

 

[keeratsingh]

ah ok thanks. Ill keep it close to 20000$ then. Would something around 19800$ be ok?

Yes this should do but still i would suggest you to plan for anything above 20,000$....

 

[santhkum90]

Anything exceeding 19093$ should be fine?

I would always suggest to keep atleast C$1000 in addition to the minimum requirement, if you are showing the funds in foreign currency. This way you will not be affected by the changing exchange rates. Because if it goes down than the minimum funds required, they will reject without any consideration.

 

[saad.ahmed1816]

Thanks. Yes i plan to keep atleast 600$ above minimum threshold