Is netbanking e-statement enough as proof of funds ?

[altctrdelighted]

Hi folks. So, my bank has a netbanking option and I from there I can download e copies of transaction history, fixed deposit details and investment portfolio summary. Are e-statements enough as proof of funds ? I ask because that's what I did last time and one of the refusal reasons was "Insufficient proof of financial status ". Thanks !

 

[captainarabiia]

Hi folks. So, my bank has a netbanking option and I from there I can download e copies of transaction history, fixed deposit details and investment portfolio summary. Are e-statements enough as proof of funds ? I ask because that's what I did last time and one of the refusal reasons was "Insufficient proof of financial status ". Thanks !

What did your GCMS notes say?

 

[altctrdelighted]

What did your GCMS notes say?

These were the reasons in my refusal.
• I am not satisfied that you will leave Canada at the end of your stay, as stipulated in subsection 216(1) of the IRPR, based on the purpose of your visit.
• Pursuant to paragraph 220(a) of the IRPA, I am not satisfied that you have sufficient and available financial resources, without working in Canada, to pay the tuition fees for the course or program of studies that you intend to pursue.
• Given the applicant's previous education and/or employment history, I am not satisfied that the motivation to pursue this particular program at this point in time in Canada is reasonable. Refused under R216(1)(b).

I ordered GCMS notes and this is what it contained:
- Given the applicant's previous education and/or employment history, I am not satisfied that the motivation to pursue this particular program at this point in time in Canada is reasonable; See LOA.
- Insufficient proof of financial status; I have concerns regarding applicant's ability to support self and studies in Canada; see proof of funds on file.
Therefore I am not satisfied that the applicant would be a bona fide student in Canada who will leave Canada by the end of the period authorized for their stay. Application refused.

 

[captainarabiia]

These were the reasons in my refusal.
• I am not satisfied that you will leave Canada at the end of your stay, as stipulated in subsection 216(1) of the IRPR, based on the purpose of your visit.
• Pursuant to paragraph 220(a) of the IRPA, I am not satisfied that you have sufficient and available financial resources, without working in Canada, to pay the tuition fees for the course or program of studies that you intend to pursue.
• Given the applicant's previous education and/or employment history, I am not satisfied that the motivation to pursue this particular program at this point in time in Canada is reasonable. Refused under R216(1)(b).

I ordered GCMS notes and this is what it contained:
- Given the applicant's previous education and/or employment history, I am not satisfied that the motivation to pursue this particular program at this point in time in Canada is reasonable; See LOA.
- Insufficient proof of financial status; I have concerns regarding applicant's ability to support self and studies in Canada; see proof of funds on file.
Therefore I am not satisfied that the applicant would be a bona fide student in Canada who will leave Canada by the end of the period authorized for their stay. Application refused.

How much did you show?
Usually training at Harvs is around 40,000 CAD

 

[altctrdelighted]

How much did you show?
Usually training at Harvs is around 40,000 CAD

Probably that was a few years ago. Now their course fee is 55,000 CAD.
I had applied under non-SDS. I showed 171,000 CAD (bank balance of 93k CAD + 10k CAD fees prepaid + 10k CAD GIC + Fixed deposit and mutual funds investment worth 58k CAD). I am not sure what went wrong there. Maybe it was just oversight, maybe not.
This time I am applying under SDS. They have increased the course duration to 18 months and I have paid the total 1st year tuition fees of 20k CAD.

 

[captainarabiia]

Probably that was a few years ago. Now their course fee is 55,000 CAD.
I had applied under non-SDS. I showed 171,000 CAD (bank balance of 93k CAD + 10k CAD fees prepaid + 10k CAD GIC + Fixed deposit and mutual funds investment worth 58k CAD). I am not sure what went wrong there. Maybe it was just oversight, maybe not.
This time I am applying under SDS. They have increased the course duration to 18 months and I have paid the total 1st year tuition fees of 20k CAD.

I would recommend submitting bank statements that are stamped.

 

[altctrdelighted]

I would recommend submitting bank statements that are stamped.

Yeah makes sense. Thanks. Right now I am now in the process of getting the e-statements stamped.