Funds issue

[vineshparekh]

Hello,

I've one more question on funds.

I just heard from my friend yesterday that you cannot choose option to be selected under CEC or FSW when you are creating profile. If you are eligible for both then CIC asks you to apply under FSW and for FSW you need to show $11,000 maintained for 6 months which I don't have. Only funds I kept in my account was $5,000.

I'm currently working full time in Canada so can't I choose to get selected under CEC?

Thanks much,
Vinesh

 

[Asivad Anac]

You can try. Set funds available to 0, don't provide any ECA or foreign work experience. That should get you CEC eligibility alone but might also affect your CRS.

 

[vineshparekh]

You can try. Set funds available to 0, don't provide any ECA or foreign work experience. That should get you CEC eligibility alone but might also affect your CRS.

No I can't leave ECA and Foreign experience. With that only I am going above 450 points otherwise will be around 400 only. So I just hope to get selected under CEC

Thanks much for your reply.
Vinesh

 

[Asivad Anac]

Change funds available to 0 and see if that makes a difference.

Remember that you will always get an FSW ITA if you qualify for both CEC and FSW.

 

[vineshparekh]

Change funds available to 0 and see if that makes a difference.

Remember that you will always get an FSW ITA if you qualify for both CEC and FSW.

So I don't put my current balance at all? If I put zero balance won't they question me when I submit my bank statements and it will have some balance? Just curious to know

Thanks,
Vinesh

 

[Asivad Anac]

By doing that, if you end up eligible only for CEC, you wouldn't be required to upload any POF after getting an ITA so there is no question of bank statements or associated questions.

 

[chaitanyaprsd1]

Having more than the amount declared in ITA will never be questioned as long as the amount you have claimed belong to you.

 

[vineshparekh]

Thank you Asivad and Chaitanya,

I will keep funds zero when I am creating my profile next month and I hope I get invitation under CEC

Thanks,
Vinesh

 

[witchkiki]

Thank you Asivad and Chaitanya,

I will keep funds zero when I am creating my profile next month and I hope I get invitation under CEC

Thanks,
Vinesh

Vinesh, some people still get ITA under FSW although they have 0 funds.

 

[vineshparekh]

Vinesh, some people still get ITA under FSW although they have 0 funds.

Thank you for your reply.

I have one joint account with my parents back home and that account can show balance required. Does it work or I have to have my own account as a proof of funds?

Thanks,
Vinesh

 

[nokia3315]

Thank you for your reply.

I have one joint account with my parents back home and that account can show balance required. Does it work or I have to have my own account as a proof of funds?

Thanks,
Vinesh

I guess joint a/c with parents might not work. Joint a/c with spouse works and that too if she is accompanying you to canada. Can senior members please advise if am correct ?

 

[chaitanyaprsd1]

May be you can get the required money as gift from your parents. You can ask them to transfer to your individual account and get a gift deed or declaration confirming the same.

 

[vineshparekh]

May be you can get the required money as gift from your parents. You can ask them to transfer to your individual account and get a gift deed or declaration confirming the same.

They can do it right away but the issue is 6 months balance. Even if my dad transfers today but what about previous months? How do I show I had balance in previous months as well?

 

[chaitanyaprsd1]

I think when you get a gift for the required amount, the 6 months required period is no longer valid. I may be wrong too.

The following post may have more information in this regard.

http://www.canadavisa.com/canada-immigration-discussion-board/-t349224.0.html

 

[spider28]

Dear Friends,

Greetings.

So I have submitted my profile after receiving ITA.

I have also submitted my bank statement and proof of funds. I have also paid the fees for two members.

As per the requirements, a family of two must show 15,772 CAD. I have shown 15,900.

My question is, how do the visa officers determine exchange rate to convert the funds. My funds are in Pakistani Rupees. In my bank statement, my balance is rupees 1,903,212.85. When this balance is divided by CAD to PKR conversion rate (119.50 PKR = 1 CAD) on GOOGLE as on 27 Oct 2019, my funds in CAD equal to 15,926 Canadian Dollars.

Majority of the applicants of Express Entry are middle class people like me who work really hard to save each dime and penny. We go to the greatest extent to keep our documents as upright and complete as possible. Also, since the world economy is changing everyday, the exchange rates also fluctuate, resultantly. If the exchange rate fluctuates on upside, our balance decreases after conversion, but if our exchange rate fluctuates on the downside, our balance in CAD increases.

Basically, I am puzzled how does the visa officer determine exchange rates to concert our local currencies in to CAD ?

I shall be highly thankful if you guide whether a visa officer rejects an application because of exchange rate fluctuation or do they use a realistic humanly approach ? @mandiebraxton

Best regards,
Spider28