POF question

[HassanH]

Hi guys,

If I have funds in my bank account more than the required minimum, and I provide the letter, do they ask about small transfers and deposits in between? Like sometimes my father (who lives abroad) sends me 2,000-3,000 so I have a few transfers like that from in my statement.

I don't know if I should give an explanation for this or not. Do they need a gift deed or something in this case or is the bank statement enough?

thanks

 

[GavinSouthAfrica]

Hi guys,

If I have funds in my bank account more than the required minimum, and I provide the letter, do they ask about small transfers and deposits in between? Like sometimes my father (who lives abroad) sends me 2,000-3,000 so I have a few transfers like that from in my statement.

I don't know if I should give an explanation for this or not. Do they need a gift deed or something in this case or is the bank statement enough?

thanks

if the money has been in your account for 6 months then there shouldn't any issue at all.

Money could have come from selling stuff or commission on sales etc.. it's normal

 

[HassanH]

I have more than the required amount in my bank account, coming from my Salary and so forth... I'm going to get a bank statement in August, the some money has been there since May, some I got in July. Would that be an issue ?

The total is like $8,000 spread over 4-5 transfers. Although I have almost double of that in my bank account.