Proof of Funds (Express Entry)

[moak091]

It will be good if you show your Texas bank account statement (currrent) and also the NRE bank account statement (savings). You can prove you are receiving your payroll in one and on the other hand building up your savings on the other ones. Make sure you have enough funds available in total though
Not sure about the online statement(sply since your accounts are in TX and India right now). I submitted my statement that I receive by email through my Canadian bank

I didn't understand your last line? By EMAIL through CANADIAN bank?

 

[bimale4bipeople]

I didn't understand your last line? By EMAIL through CANADIAN bank?

I have a Canadian bank account and I receive monthly statements by email

 

[sandhu2012]

I have a query...

I had more than around 19k CAD ( for 3 members), in my account at the time of ITA, and m still waiting for my PPR...
due to some emergency, I had to take out around 4k CAD.. so the money in the account is less than the required...I want to know will it affect anything?

 

[FMT]

I have a query...

I had more than around 19k CAD ( for 3 members), in my account at the time of ITA, and m still waiting for my PPR...
due to some emergency, I had to take out around 4k CAD.. so the money in the account is less than the required...I want to know will it affect anything?

It may and it may not. It depends on if they decide to go check with your bank. Just hope they don't do that and all is well.

 

[sandhu2012]

It may and it may not. It depends on if they decide to go check with your bank. Just hope they don't do that and all is well.

Oh okay.. even if they check, will they give me a chance to prove that i have sufficient funds?

 

[vemuri]

Quick question to all,

Currently my personal account in India have less than 100 US dollars for the last six months. My parents agreed to transfer funds needed to my account.
After they transfer the money,
Do i need to wait for few months so that my average balance for last 6 months will increase ?

 

[DelPiero07]

Quick question to all,

Currently my personal account in India have less than 100 US dollars for the last six months. My parents agreed to transfer funds needed to my account.
After they transfer the money,
Do i need to wait for few months so that my average balance for last 6 months will increase ?

No. As long as you execute the gift deed you need not wait at all.

 

[vemuri]

No. As long as you execute the gift deed you need not wait at all.

Thanks DelPiero07

Bank Manager said that he will provide me copy of letter saying money was transferred from my mothers account to my personal account.
Do we need bank receipt to show that money was transferred from my mothers account to my personal account ?

 

[Archavin89]

Does anyone know if a letter from the bank stating I am one of the beneficiaries (have X percentage of the company's portfolio) of an Offshore Trust (but not the only one) would work as a proof of funds? The portfolio is consisted by cash, stocks, bonds and others investments products.

Or this is assessed as being like a ''joint account'' since there are other beneficiaries as well and, thus, cannot be used?

ps: Considering, of course, the letter also states al the other information required (Average balance for the past 6 months, account number etc).

 

[bimale4bipeople]

Does anyone know if a letter from the bank stating I am one of the beneficiaries (have X percentage of the company's portfolio) of an Offshore Trust (but not the only one) would work as a proof of funds? The portfolio is consisted by cash, stocks, bonds and others investments products.

Or this is assessed as being like a ''joint account'' since there are other beneficiaries as well and, thus, cannot be used?

ps: Considering, of course, the letter also states al the other information required (Average balance for the past 6 months, account number etc).

All they are looking for is cash available in your account. idea behind is that when you land here, you should have access to those funds any emergencies..

 

[Archavin89]

All they are looking for is cash available in your account. idea behind is that when you land here, you should have access to those funds any emergencies..

First of all, thanks for ur response.

I understand what the main purpose of the proof of funds is.

What I am concerned about it is the fact that it is only one account (and more than one beneficiary) linked w the Offshore Trust. Thus, I do not know if they will consider that as being a ''joint account'' even if the bank states I own X percentage of the portfolio.

ps: the others beneficiaries r not moving to Canada

 

[bimale4bipeople]

First of all, thanks for ur response.

I understand what the main purpose of the proof of funds is.

What I am concerned about it is the fact that it is only one account (and more than one beneficiary) linked w the Offshore Trust. Thus, I do not know if they will consider that as being a ''joint account'' even if the bank states I own X percentage of the portfolio.

Joint account should not be a problem, Mine is a joint account(Chq & Sav) too(but its a local Canadian bank). As long as you can show cash in your account any additional info will not be required.

 

[mhk16]

Is it mandatory to submit my father's bank statement too in case of a gift deed?

All the help is appreciated.

 

[visaapplicant]

Is it possible if my parents can transfer a fund to my account? They are willing to write a gift deed letter. Thanks.

 

[adii4u]

I have required funds in my account in form of fixed deposits, few fixed deposits matured last month and I have reinvested the amount again in fixed deposits.
I will be getting ITA this month my question is my fixed deposit dates are not 6 month old will it be a concern?