POF Bank statement

[Kitua85]

Hi All,

I have recently received ITA and I am putting my supporting docs together
However I am not sure if it is compulsory that my bank statement shows 6 months of activity

The situation is as follows;
I have just re-activated the bank account which has some funds in it but no activity since 2010
My settlements funds will be an inheritance from my family which I intend to support with an LOE

Ladies/Gents, from your experiences, can you kindly advise me whether my bank statement will acceptable or
should I reject the ITA and wait for another 6 months?

 

[feejay87]

Hi All,

I have recently received ITA and I am putting my supporting docs together
However I am not sure if it is compulsory that my bank statement shows 6 months of activity

The situation is as follows;
I have just re-activated the bank account which has some funds in it but no activity since 2010
My settlements funds will be an inheritance from my family which I intend to support with an LOE

Ladies/Gents, from your experiences, can you kindly advise me whether my bank statement will acceptable or
should I reject the ITA and wait for another 6 months?

you need to proof that your average balance for the past 6 months was ample enough to make you eligible; a sudden inherited fund transfer won't work out;

However if you want to avail this ITA, then its better that you ask your inheritor to add your name as well to his account (from where the funds will be inherited to you) as "joint" ; CIC accepts joint account statements, and it would give impression to the CIC that you are mutually holding that fund for an appreciable time with an average balance that is reaching to CIC's cutoff as Sufficient funds;

 

[Kitua85]

Thank you for the answer.

Any further ideas please???

 

[cherryyyyy]

My rep told me that the sudden increase in funds should be avoided. Amount within around $3000 is acceptable. You can say it's the cash you put at home.
However, large amount is suspicious especially if your account had few money during the past 6 months.

 

[dobes]

Thank you for the answer.

Any further ideas please???

The bigger the amount, the better the explanation has to be. I'm not sure if you mean you actually inherited the money from a relative who died, or if it is a gift from a relative.

If it is an inheritance, then a copy of the will, if available, or the statement of the executor of the estate saying where the money came from is good. If it is a gift, show the transfer from one account (say, your father's) to yours, and submit an affidavit from your father saying that the money is a gift and does not have to be paid back.

For heaven's sake, don't decline an ITA unless you have to! The very worst that would happen would be that you submit it and they reject it, and you don't get PR and have to get another ITA. But you have taken a chance, and you very well might pass!

Just document the source of the money as carefully and thoroughly as you can, write your LOE very carefully as well to show that you never have to pay back the money. That is all CIC cares about - that you have money you can use to settle in Canada and that you never have to pay it back.

 

[Kitua85]

My rep told me that the sudden increase in funds should be avoided. Amount within around $3000 is acceptable. You can say it's the cash you put at home.
However, large amount is suspicious especially if your account had few money during the past 6 months.

Thank you for the response, if I get clearly, what you're saying is that I should transfer the funds installmentally
for example $3,500 paid in separate installments

 

[Kitua85]

The bigger the amount, the better the explanation has to be. I'm not sure if you mean you actually inherited the money from a relative who died, or if it is a gift from a relative.

If it is an inheritance, then a copy of the will, if available, or the statement of the executor of the estate saying where the money came from is good. If it is a gift, show the transfer from one account (say, your father's) to yours, and submit an affidavit from your father saying that the money is a gift and does not have to be paid back.

For heaven's sake, don't decline an ITA unless you have to! The very worst that would happen would be that you submit it and they reject it, and you don't get PR and have to get another ITA. But you have taken a chance, and you very well might pass!

Just document the source of the money as carefully and thoroughly as you can, write your LOE very carefully as well to show that you never have to pay back the money. That is all CIC cares about - that you have money you can use to settle in Canada and that you never have to pay it back.

Thank you for your response, the money is a gift from a relative
My major concern here is that I used this bank account last in 2010 and I have just re-activated it for EE. It will show only 3 months of been active by the time I apply for PR

How should I document the source of the fund, will computer screen shots of the account supported with a letter suffice?

 

[eddie_in_NL]

so you had no bank account at all up to three months ago ? (other than this one which was de-activated)

Perhaps this is common where you come from, but to someone in Canada this may be seen as suspicious, so please document it as best as you can.

Receiving a large lump sum already raises suspicious, but can be explained. Not having a bank account, raises more suspicious, which again has to be explained. The less things you need to "explain", the easier it is for the officer to process your application (in a favourable manner at least).

Keep in mind you only need to prove you have the minimum set for your family size.

 

[Anya654]

Thank you for your response, the money is a gift from a relative
My major concern here is that I used this bank account last in 2010 and I have just re-activated it for EE. It will show only 3 months of been active by the time I apply for PR

How should I document the source of the fund, will computer screen shots of the account supported with a letter suffice?

Why didn't you just use your normal day to day bank account?

 

[Kitua85]

so you had no bank account at all up to three months ago ? (other than this one which was de-activated)

Perhaps this is common where you come from, but to someone in Canada this may be seen as suspicious, so please document it as best as you can.

Receiving a large lump sum already raises suspicious, but can be explained. Not having a bank account, raises more suspicious, which again has to be explained. The less things you need to "explain", the easier it is for the officer to process your application (in a favourable manner at least).

Keep in mind you only need to prove you have the minimum set for your family size.

My day to day account which was my first choice of account is in my country of Abode (Uk)
however due to the governments lock down on foreign exchange in my country of origin (Nigeria)
it has not been possible for my family to transfer large amounts of money into my overseas account
hence my decision to re-activate my account in Nigeria

 

[Kitua85]

Why didn't you just use your normal day to day bank account?

My day to day account which was my first choice of account is in my country of Abode (Uk)
however due to the governments lock down on foreign exchange in my country of origin (Nigeria)
it has not been possible for my family to transfer large amounts of money into my overseas account
hence my decision to re-activate my account in Nigeria

 

[Banff2015]

Anyone know why I never got asked to show any funds? Or not even past banking history ? Inland CEC on lmia work permit.