Proof of Funds (Express Entry)

[MARYKE4NNY]

Thank you all for your contributions on this amazing forum. Please I need your advice concerning POF. My last month account balance shows $6,000 USD while this month shows $15k. I plan on getting a statement from my bank according to the requirements of CIC. I am however concerned about the pattern of my fund increase. I received about $9K from my husband in my other account (a different bank)and then I began transferring it in bits (2K each transaction). Since the letter from the bank would not include my bank statement do I explain the origin of the money in the LOE? Do I ask for my bank statements alongside the letter and highlight that each transaction came from my second account? Do I also get the statement from my second bank account highlighting that the fund came from husband and I just transferred it to my savings account? Please I need your advice. Thanks.

 

[bimale4bipeople]

Thank you all for your contributions on this amazing forum. Please I need your advice concerning POF. My last month account balance shows $6,000 USD while this month shows $15k. I plan on getting a statement from my bank according to the requirements of CIC. I am however concerned about the pattern of my fund increase. I received about $9K from my husband in my other account (a different bank)and then I began transferring it in bits (2K each transaction). Since the letter from the bank would not include my bank statement do I explain the origin of the money in the LOE? Do I ask for my bank statements alongside the letter and highlight that each transaction came from my second account? Do I also get the statement from my second bank account highlighting that the fund came from husband and I just transferred it to my savings account? Please I need your advice. Thanks.

Is your husband planning to accompanying you to Canada? If yes, you need two things...

A bank letter(no need for any statements) confirming your average 6 months balance
and
Your husband needs to provide you a letter saying that he has no objection to the money transferred to your account and you have complete access to these funds to be used at your discretion...

No need for any LoE

 

[MARYKE4NNY]

Is your husband planning to accompanying you to Canada? If yes, you need two things...

A bank letter(no need for any statements) confirming your average 6 months balance
and
Your husband needs to provide you a letter saying that he has no objection to the money transferred to your account and you have complete access to these funds to be used at your discretion...

No need for any LoE

Thank you. Yes my husband would be accompanying me. He sent the money to an entirely different account (my account with a different bank and I dont plan on using the account for POF). How do I report the source of the fund in the account I intend to submit as POF? Thanks.

 

[MARYKE4NNY]

Is your husband planning to accompanying you to Canada? If yes, you need two things...

A bank letter(no need for any statements) confirming your average 6 months balance
and
Your husband needs to provide you a letter saying that he has no objection to the money transferred to your account and you have complete access to these funds to be used at your discretion...

No need for any LoE

Thank you. Yes my husband would be accompanying me. He sent the money to an entirely different account (my account with a different bank and I dont plan on using the account for POF). How do I report the source of the fund in the account I intend to submit as POF? Thanks.

 

[bimale4bipeople]

Thank you. Yes my husband would be accompanying me. He sent the money to an entirely different account (my account with a different bank and I dont plan on using the account for POF). How do I report the source of the fund in the account I intend to submit as POF? Thanks.

Just get your bank letter... and the letter from your husband (because that’s where the funds originated from) authorizing you to use the funds at your discretion... no need to show anything how you moved the money from multiple account...

 

[MARYKE4NNY]

Just get your bank letter... and the letter from your husband (because that’s where the funds originated from) authorizing you to use the funds at your discretion... no need to show anything how you moved the money from multiple account...

Thank you so much.

 

[gooner4ever]

Hi! I have a question regarding transfer of funds between my bank accounts. Is it a problem if money has been transferred from one account (in UAE) to another (in India) after submitting the certificates as POF? Certificates from both banks were submitted to CIC and the total is still higher than the amount required.

Also CIC has already asked for an NOC from my husband stating that his funds are available to me. Do you reckon they'll ask for updated bank certificates from all banks again? And if yes, would it matter that the India account shows more funds?

Thank you!

 

[cansha]

Hello.. Guys I rejected ITA once due to a problem in the bank statement , and after a long wait, got the 2nd one yesterday. Now again, there is another problem regarding our POF. We have maintained sufficient balance for more than a year. But for the last 6 months, my husband has been receiving his salary in cash. He deposits the cash in his bank account (title = salary savings account). He has salary slips and letter from the company explaining the issue (that the salary cannot be sent to Pakistan due to some kind of banking issue). Before April, the company used to deposit salary directly in his Pakistani account.
A friend of mine was refused UK visit visa for the same reason. She had salary slips and all, but she also used to receive her salary in cash and deposit the money in her bank account by herself. Her visa got rejected because she didnt have a proper money trail of her earnings, or any official banking transactions. She works for a renowned American company in Middle East though, still, refused.
Now what should I do? Is it a must to provide bank statement for last 6 months? I can submit the last 9 or 12 months statement, showing proper salary transactions by the company till April, and explain the problem in the LOE. Or if bank statement is not a must, I can just submit the bank certificate showing the average balance for last 6 months.
Kindly answer. Don't wanna lose this ITA again

There is no requirement of sending bank statements. CIC asks for a letter from bank for average 6 months balance and other requirements as listed on CIC website. If you can get letter from bank with those details there is no need for sending bank statements. People send bank statements when they can't get avg 6 month balance from the bank.

 

[NOMAD2017]

There is no requirement of sending bank statements. CIC asks for a letter from bank for average 6 months balance and other requirements as listed on CIC website. If you can get letter from bank with those details there is no need for sending bank statements. People send bank statements when they can't get avg 6 month balance from the bank.

yeah, the bank didn't mention average balance on the certificate the last time, so we had to go for the bank statement. I hope they do it this time around.

 

[SithLord]

There is no requirement of sending bank statements. CIC asks for a letter from bank for average 6 months balance and other requirements as listed on CIC website. If you can get letter from bank with those details there is no need for sending bank statements. People send bank statements when they can't get avg 6 month balance from the bank.

Thank you so much. I was having this exact same question. Whether bank statement is really necessary.

My bank is willing to provide a certificate with date of opening account, current balance and average 6 months balance.

However, I have one more query. My current balance is 15000 CAD but my average 6 month balance shows as 2500 CAD. Will this be acceptable? when the average is less but current balance is above the minimum requirement for single applicant

 

[SithLord]

yeah, the bank didn't mention average balance on the certificate the last time, so we had to go for the bank statement. I hope they do it this time around.

So relieved we have moved on from ROH threads lol

 

[Anishcool]

There is no requirement of sending bank statements. CIC asks for a letter from bank for average 6 months balance and other requirements as listed on CIC website. If you can get letter from bank with those details there is no need for sending bank statements. People send bank statements when they can't get avg 6 month balance from the bank.

Hi Cansha,

Would help me with my query?

I have the proof of funds letter obtained from my bank according to CIC's guidelines. However, they did not mention my average six months bank balance as the entire funds I hold are in Fixed Deposit form. Do you think I should explain this about to CIC when I submit my application?

 

[cansha]

Thank you so much. I was having this exact same question. Whether bank statement is really necessary.

My bank is willing to provide a certificate with date of opening account, current balance and average 6 months balance.

However, I have one more query. My current balance is 15000 CAD but my average 6 month balance shows as 2500 CAD. Will this be acceptable? when the average is less but current balance is above the minimum requirement for single applicant

This may be an issue as this indicates there was a large sum of money that was deposited recently. This is my own understanding. But I think the purpose behind asking for 6 month average balance is to see if you had the money in your bank account from your own sources. IRCC doesn't want you to borrow money and show it for the purpose of POF. If your average balance was say 10K I think it was okay. 2500 vs 15K seems like a big gap. That is my personal opinion.

 

[cansha]

Hi Cansha,

Would help me with my query?

I have the proof of funds letter obtained from my bank according to CIC's guidelines. However, they did not mention my average six months bank balance as the entire funds I hold are in Fixed Deposit form. Do you think I should explain this about to CIC when I submit my application?

It is okay in case of FD. Make sure the maturity date is mentioned on the FD certificate. One guy is in review required as they could not see the FD maturity date. Or get a letter from bank that these funds are readily available to you as you can break the FD if you want to.

 

[SithLord]

This may be an issue as this indicates there was a large sum of money that was deposited recently. This is my own understanding. But I think the purpose behind asking for 6 month average balance is to see if you had the money in your bank account from your own sources. IRCC doesn't want you to borrow money and show it for the purpose of POF. If your average balance was say 10K I think it was okay. 2500 vs 15K seems like a big gap. That is my personal opinion.

Yes, I had put in 15000 CAD into my account 3 months ago and been maintaining it since then.