Hi everyone,
I have 2 bank accounts in my name, one with local currency (Account 1) and another in USD (Account 2). My salary is automatically deposited in Account 1. Due to bad local economic situation, I regularly exchange money from local currency to USD to avoid any sudden plunge in local currency.I take out cash from Account 1, exchange to USD, then deposit cash to Account 2, so Account 1 is mostly empty while Account 2 is mostly full.
Will there be a problem when I present my POF to CIC as to the source of money deposited in Account 2? Knowing that this is my money purely from exchanging from local currency, and no gift deed from parents.
I can also provide 6 months account statements for both my accounts showing cash taken and deposited.
Need your urgent opinion please!
Thank you.
I have 2 bank accounts in my name, one with local currency (Account 1) and another in USD (Account 2). My salary is automatically deposited in Account 1. Due to bad local economic situation, I regularly exchange money from local currency to USD to avoid any sudden plunge in local currency.I take out cash from Account 1, exchange to USD, then deposit cash to Account 2, so Account 1 is mostly empty while Account 2 is mostly full.
Will there be a problem when I present my POF to CIC as to the source of money deposited in Account 2? Knowing that this is my money purely from exchanging from local currency, and no gift deed from parents.
I can also provide 6 months account statements for both my accounts showing cash taken and deposited.
Need your urgent opinion please!
Thank you.
