I don't want to provide statements from my account, only the bank letter for current and 6 month balances as well as the letter from my university indicating the scholarship. Are you saying that the letter from my university is not enough evidence to clarify the source of money? It indicates that I get paid around $16,500 each semester including this spring in February. I could also print a copy of the transaction details and have it stamped by my bank.astralsource said:
Proof of Funds (Express Entry)
- Thread starter ThisIsHoof
- Start date
Dear seniors, please help me out ! ! !
Apology for such long post !!
I received ita on 5th april. My salary account is only 6 months old and will be 7 months old by the time I lodge my apllication and reason behind this is , I was living in UK before that and never worked in my home country before. In 2015 I had wedding reception and received nearly 10000cad cash as gift from relatives specially from my and my wife's uncles aunts. Back then, we didn't need that money and one of my aunts took it as loan from me but we didn't make any deed. Now last month, she returned my money and deposited this money by cheque in my account mentioning this is repayment of loan though statement doesn't mention it. I hardly had any idle money in my account before that deposit but i had around 6000cad invested in share market since december 2016. Also at the same time, i sold some of my wife's jewellery to one of my neices and her husband sent money from abroad in my account. We didn't make any documents for this exchange and my statement shows electronic fund transfer for the amount of 2380cad and 3603cad and all these were from selling gold. In nutshell there are three big deposits in my account from march, one is from my aunt and other two are from selling jewellery. I also have around 10000CAD invested in share market right now and my accompanying spouse has 8000Cad in her account. Now my question is, what sort of documents shall i provide to prove my aunt's deposit as repayment of loan and other two transactions as money from selling jewellery ?
Also to avoid all confusions and hassle of documents, can i sell all my shares and transfer funds from my salary account to my another old account which has not been used for long and show POF from that account and my wife's account? In that case required fund will be there only for few days before submission of application.
Experts, requesting your kind attention. All other paper works are ready but only because of POF, I am not submitting my application. All members of this forum are requested to give their valuable opinions. May God bless you all.
Apology for such long post !!
I received ita on 5th april. My salary account is only 6 months old and will be 7 months old by the time I lodge my apllication and reason behind this is , I was living in UK before that and never worked in my home country before. In 2015 I had wedding reception and received nearly 10000cad cash as gift from relatives specially from my and my wife's uncles aunts. Back then, we didn't need that money and one of my aunts took it as loan from me but we didn't make any deed. Now last month, she returned my money and deposited this money by cheque in my account mentioning this is repayment of loan though statement doesn't mention it. I hardly had any idle money in my account before that deposit but i had around 6000cad invested in share market since december 2016. Also at the same time, i sold some of my wife's jewellery to one of my neices and her husband sent money from abroad in my account. We didn't make any documents for this exchange and my statement shows electronic fund transfer for the amount of 2380cad and 3603cad and all these were from selling gold. In nutshell there are three big deposits in my account from march, one is from my aunt and other two are from selling jewellery. I also have around 10000CAD invested in share market right now and my accompanying spouse has 8000Cad in her account. Now my question is, what sort of documents shall i provide to prove my aunt's deposit as repayment of loan and other two transactions as money from selling jewellery ?
Also to avoid all confusions and hassle of documents, can i sell all my shares and transfer funds from my salary account to my another old account which has not been used for long and show POF from that account and my wife's account? In that case required fund will be there only for few days before submission of application.
Experts, requesting your kind attention. All other paper works are ready but only because of POF, I am not submitting my application. All members of this forum are requested to give their valuable opinions. May God bless you all.
If you have maintained the minimum required money since last six months then no need to show any proof regarding transactions or bank statements. But if you have made big amount of deposits in last few months then you have to show where that money came from. And yes, you can sell your shares make deposits to your old account, but in this case just show some documentation regarding the selling of shares. Thats all.Al Mahmud said:
I have the required funds as on date...but gradually built up over 6 months. Hope this is not an issue?
Our bank statements needed or just letter from bank?
Our bank statements needed or just letter from bank?
Thanks for your input. My question was how can i prove the source of fund in my case ? I didn't do any deed when gave loan to my aunt also no jewellery sale agreement as i sold it to a relative and money was paid by her husband in my account from abroad. Unfortonuately, all these money came in last monthKRahman said:
i wish didn't have these money deposited in my account then i could just sell share and show money from the share.
softwaretesting said:
Should i write LOE explaining that I provided money to my father in the past and got it back - I have proper bank statements and remittance details available with me.
Hi all
Just wanting to know if I transfer money from one bank to another do I have to show source of funds from the bank the money is being transfered from. Also not sure if I saw an exact answer to this one. If my father gifted the money to me do I have to provide source of funds for his account as well or a 6mths bank statement
Just wanting to know if I transfer money from one bank to another do I have to show source of funds from the bank the money is being transfered from. Also not sure if I saw an exact answer to this one. If my father gifted the money to me do I have to provide source of funds for his account as well or a 6mths bank statement
you need to provide proof of ownership either through a sale deed or through a gift deed. If you'regoing through the gift route then donor should be the one who signed the cheque ( owner of that account) or you can get a back dated sale deed for jewellery.Al Mahmud said:Thanks for your input. My question was how can i prove the source of fund in my case ? I didn't do any deed when gave loan to my aunt also no jewellery sale agreement as i sold it to a relative and money was paid by her husband in my account from abroad. Unfortonuately, all these money came in last month
Else you have to liquidate your shares.
Any which way, you have to legally prove the ownership of funds.
you need to show the following to prove your ownershipkukreja.vijayk said:
1. Your bank statement reflecting the debit of that amount ( for both debit and credit )
2. Cheque/ internet transfer receipt ( for both debit and credit)
3. Your father's account statement reflecting the credit and debit of the same amount
4. Declaration from father stating he took a loan from you and then repaid on certain date.
if the transfer is within the last 6 months then you have to show the source of funds I.e. the account from which it is being transferred and proof of transfer( cheque/ internet transfer), if this account doesn't belong to you then you need to back it up with a gift deed or any legal document to prove your ownership of funds.mytimet said:
Many thanks vishalg for your prompt reply. Now my Bo account is connected to my current salary account which means money from selling share will go to my salary account via EFT and from there I can issue cheque to my old account. In that case, will I have to give bank statement of my current salary account to prove source of fund of my old account? If so, showing statement of current account for a month just to show debit will be okay or not?vishalg said: