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Proof of Funds (Express Entry)

Jun 15, 2017
14
1
Thanks.
Currently, I am working in WorkPermit with LMIA approved and the employer provided another job offer letter for one yr after PR.

Hope I am good to proceed further.
 

sundar17feb99

Hero Member
Apr 30, 2017
850
1,205
30
Chennai - India
Category........
FSW
Visa Office......
Ottawa
NOC Code......
2281
App. Filed.......
14-06-2017
Nomination.....
05-01-2018
AOR Received.
25-01-2018
IELTS Request
R9L8W6.5S6.5
Med's Done....
09-02-2018
Passport Req..
20-03-2018
I have a FD account of 3 months maturity. Is it enough as POF??
or I have to wait for Six months??
FD certificate would suffice, you don't need to wait for six months.
 

estreya

Member
Mar 23, 2018
11
0
Hello All,

I received ITA recently in March and in the process of collecting documents now. I went through this forum, but still have a few questions reg. POF. Hoping someone can advise for my scenario.

I have checking, savings and two credit cards with a bank since a few years. I had only maintained a minimum account balance in savings account and had salary savings in checking account. In Jan'18 I transferred large amount from my checking to savings account, and then in Feb I withdrew significant amounts from both my checking and savings account to give a loan to relative. As of Feb end, my balance in savings account exceeds CIC requirement and that of my checking account is lower than requirement. I thought I could just submit current balance of savings account and transaction history of checking account as proof of income source. I wasn't aware until recently that large deposit,withdrawals and lack of funds in savings account for 6 months on average might be a problem for canada POF.

Now for documentation,

1) I plan to give a balance certificate of my savings account. Current balance meets requirement, but average 6 months balance would be quite less as the fund is transferred from my checking account only 3 months ago. Do I need to give 6 month bank statement for savings account?

2) I also plan to submit balance certificate of my checking account and its 12 months bank e-statements only for the purpose of substantiating transfer from checking to savings account, and that the money in the checking account is saved from my salary, and not loaned to me. Current balance does not meet requirement, but average balance is high.

3) Overall, can I explain my LOE that
-- my savings account current balance meets the requirement of POF. Its average balance is less because I transferred the fund from my own checking account 3 months ago to maintain a fixed untouched funds for canada PR.
-- The source of funds in my checking account is my salary deposits over the past few years. I don't have salary deposit in the last 6 months as I am currently unemployed. That is why I am attaching the last 12 months checking account e-statements which have enough deposits from my employer. Is this the right approach, Do I need to give any more specific examples?
-- The large withdrawals made from my checking and savings account is to give a loan to a relative. Do I need to mention this? The only proof I can give is the bank deposits receipts made to the relative. Should I include all such withdrawal receipts, I withdrew around 30k usd in Feb.

4) Do I need to submit any documentation for my credit cards as well? I don't have any large balances on it

5) I plan to submit my post ITA application end of May. Could I take the balance certificates end of April?
 

sundar17feb99

Hero Member
Apr 30, 2017
850
1,205
30
Chennai - India
Category........
FSW
Visa Office......
Ottawa
NOC Code......
2281
App. Filed.......
14-06-2017
Nomination.....
05-01-2018
AOR Received.
25-01-2018
IELTS Request
R9L8W6.5S6.5
Med's Done....
09-02-2018
Passport Req..
20-03-2018
Hello All,

I received ITA recently in March and in the process of collecting documents now. I went through this forum, but still have a few questions reg. POF. Hoping someone can advise for my scenario.

I have checking, savings and two credit cards with a bank since a few years. I had only maintained a minimum account balance in savings account and had salary savings in checking account. In Jan'18 I transferred large amount from my checking to savings account, and then in Feb I withdrew significant amounts from both my checking and savings account to give a loan to relative. As of Feb end, my balance in savings account exceeds CIC requirement and that of my checking account is lower than requirement. I thought I could just submit current balance of savings account and transaction history of checking account as proof of income source. I wasn't aware until recently that large deposit,withdrawals and lack of funds in savings account for 6 months on average might be a problem for canada POF.

Now for documentation,

1) I plan to give a balance certificate of my savings account. Current balance meets requirement, but average 6 months balance would be quite less as the fund is transferred from my checking account only 3 months ago. Do I need to give 6 month bank statement for savings account?

2) I also plan to submit balance certificate of my checking account and its 12 months bank e-statements only for the purpose of substantiating transfer from checking to savings account, and that the money in the checking account is saved from my salary, and not loaned to me. Current balance does not meet requirement, but average balance is high.

3) Overall, can I explain my LOE that
-- my savings account current balance meets the requirement of POF. Its average balance is less because I transferred the fund from my own checking account 3 months ago to maintain a fixed untouched funds for canada PR.
-- The source of funds in my checking account is my salary deposits over the past few years. I don't have salary deposit in the last 6 months as I am currently unemployed. That is why I am attaching the last 12 months checking account e-statements which have enough deposits from my employer. Is this the right approach, Do I need to give any more specific examples?
-- The large withdrawals made from my checking and savings account is to give a loan to a relative. Do I need to mention this? The only proof I can give is the bank deposits receipts made to the relative. Should I include all such withdrawal receipts, I withdrew around 30k usd in Feb.

4) Do I need to submit any documentation for my credit cards as well? I don't have any large balances on it

5) I plan to submit my post ITA application end of May. Could I take the balance certificates end of April?
Basically, you transferred between your accounts.

It is not mandatory to submit bank statements as bank balance certificate from your bank would suffice.
If you are submitting bank statement to substantiate your case, explain in LOE that the large chunk of amount came from other account which you hold. You can add account summary (not bank statement) to prove , "other account indeed is in my name".

Now you proved VO that you met minimum requirement and also devoured any confusion that might have happened.

Hope it helps.
 

sukrithy

Full Member
Feb 23, 2017
30
9
Hi everyone
I have a gift deed from my dad for the pot amount. Does the gift deed need to mention the source of my dad’s income or where he got the money. He has made I from his own savings and retirement funds which he has mentioned in the gift deed.
Does he need to mention any details??

Thankyou in advance
 

DelPiero07

VIP Member
Oct 2, 2016
10,390
2,576
Job Offer........
Pre-Assessed..
Hi everyone
I have a gift deed from my dad for the pot amount. Does the gift deed need to mention the source of my dad’s income or where he got the money. He has made I from his own savings and retirement funds which he has mentioned in the gift deed.
Does he need to mention any details??

Thankyou in advance
No such details are required.
 

Ken_89

Star Member
Mar 20, 2018
67
115
Hi guys,
In the letter that my bank gave me instead of the 6 month average there is just the last 60 days average balance. Have you seen any other cases similar to this? Are they gonna reject me because of that or would they ask for a new bank letter?
 
Last edited:

FMT

Star Member
Feb 28, 2018
199
64
W
Hi guys,
In the letter that my bank gave me instead of the 6 month average there is just the last 60 days average balance. Have you seen any other cases similar to this? Are they gonna reject me because of that or would they ask for a new bank letter?
Why don't you get a new bank letter that will cover the required period and not take that chance. I feel it's better
 

Ken_89

Star Member
Mar 20, 2018
67
115
Why don't you get a new bank letter that will cover the required period and not take that chance. I feel it's better
I asked them and they said this is their only format. Besides that, my 6 month average doesn't look good. I was hoping maybe this letter would be enough.
 

Darksith79

Full Member
Jan 15, 2018
20
12
Hello,
I have requested bank statements from my bank HSBC however they provided me the statements without letter head saying that this is the format they provide usually, however each page has the bank stamp and I'm attaching a information letter and balance letter (both on letterhead) can you tell me if it should be fine like this?
 

estreya

Member
Mar 23, 2018
11
0
Basically, you transferred between your accounts.

It is not mandatory to submit bank statements as bank balance certificate from your bank would suffice.
If you are submitting bank statement to substantiate your case, explain in LOE that the large chunk of amount came from other account which you hold. You can add account summary (not bank statement) to prove , "other account indeed is in my name".

Now you proved VO that you met minimum requirement and also devoured any confusion that might have happened.

Hope it helps.
Hi Sundar,

Thank you for the response. Could you kindly help with the below questions?

1) Do I need to show any proof for funds that are existing in my checking account as salary deposits? They have been accrued for over a year, not any sudden deposits.

2) The large withdrawals made from my checking and savings account is to give a loan to a relative. Do I need to mention this? The only proof I can give is the bank deposits receipts made to the relative. Should I include all such withdrawal receipts? Does CIC bother about withdrawals?

4) Do I need to submit any documentation for my credit cards as well? I don't have any large balances on it

5) I plan to submit my post ITA application end of May. How soon could I take the balance certificates?
 
Jun 15, 2017
14
1
I got my ITA for FSW and I mentioned 19100 CAD as the proof funds in the application.
Recently moved to Canada and currently working in CANADA with work permit.
Can I show the Paystubs, JOB Offer, & minimal Bank balance (10000 CAD) statement.

Will it be fine to proceed further for submission?
 

DelPiero07

VIP Member
Oct 2, 2016
10,390
2,576
Job Offer........
Pre-Assessed..
I got my ITA for FSW and I mentioned 19100 CAD as the proof funds in the application.
Recently moved to Canada and currently working in CANADA with work permit.
Can I show the Paystubs, JOB Offer, & minimal Bank balance (10000 CAD) statement.

Will it be fine to proceed further for submission?
What kind of work permit do you have? Do you have LMIA? Are you a CEC applicant?