+1(514) 937-9445 or Toll-free (Canada & US) +1 (888) 947-9445

Proof of Funds (Express Entry)

Discussion in 'Express Entry / Expression of Interest' started by ThisIsHoof, Jan 2, 2015.

  1. If you can produce bank letter or fix deposit certificate indicating the deposit date > 6 months, it would be fine.
    However, a word of caution. For several people showing funds in FD, POF has been set for review required by case analyst because some FDs cannot be easily liquidated compare to funds in your saving or chequing account. However, if your FD is expected to mature within few months, you will be fine. Try to procure a letter from bank stating when the FD was created and the amount is readily available to you for withdrawal.
     
  2. Hi @deeps1987

    Thank you so much for your time and guidance. I surely will get back to you once the process is complete and also incase of any further doubts.

    Thanks,
    Vignesh
     
    deeps1987 likes this.
  3. Can my proof of funds be 100% from and completely out of a Gift deed?
     
  4. You need to show POF for 3 people.
     
  5. Hello guys! I hope you can help me solve my problem with regards to my proof of funds. I have my ITA already and I only have 30 days more to submit all the required documents. I actually have a very complicated situation right now and I am really confused of what I am going to tell on my Letter of Explanation.

    I am currently working here in Qatar and I hold a payroll account which we are not allowed to deposit personal money, and its always zero balance because I withdraw all the money every salary and 60% of my salary, I send it to my mother's bank account in the Philippines and the remaining is for my personal expenses here in Qatar. Anyway, I decided to open a savings account 2 months ago (this is a Philippine Bank which we can open an account here in Qatar). In summary, all the cash deposits only occurred last April, and this coming week my mother will be depositing CAD 8,000.00 to my account.

    Is it safe to declare that the money deposited by my mother is a gift? She promised me that she is going to help me with my funds for my PR application once I got my ITA. Aside from a gift deed letter, does my mother still need to provide evidence of where the money came from. Also part of my proof of funds is came from my Aunt in New Zealand wherein she deposited CAD 1,000 and I ask her also to give me a gift deed letter as well.
     
  6. Please I need help from anyone accustomed to PoF.....I want to know how many days/weeks/months it takes IRCC to investigate PoF that is in a fixed deposit account.
    My PoF is currently in a fixed deposit account and I need to know how long it takes IRCC to validate such deposit.Thanks !
     


  7. Do they? I passed criminality now..

    Please help
     
  8. Guys i have already submitted my application and now looking back on my POF letter i noticed that the bank didn't include his contact details. It only mentioned it's name and which branch but it's very easily accessible with a google search.

    Also, my address provided is my workplace not my home.

    Do you think this is an issue with CIC?
     
  9. Hey Guys,
    I have a situation here. I am currently residing in Hyderabad and I have a bank account with home branch in Mohali. I have checked with the local branch in hyderabad to provide me the letter, but they refused and said only home branch shall issue the letter. I have one friend who is in the same bank but different city and has agreed to provide me the letter on letterhead of his branch (I have never been to that city so it will not be shown in my personal history). Could anyone please guide if I can show the bank letter from branch of a city that i have never visited?
    Will this raise any suspicion?
    Further I have some FDs that were opened in my friend's branch as they were easy to maintain. Hope they are acceptable too.

    Anyone please guide.

    Thanks in advance.
     
  10. Hi everyone,

    I will be creating my EE profile tomorrow. Up until recently we weren't sure as to who will be the primary application between me and my husband. Based on WES and IELTS we have now decided to make me the primary applicant. Due to this uncertainty we had been saving money in my husbands account till date. Will transferring this into my account in 1 go be an issue?
     
  11. #4706 deeps1987, Jun 2, 2019 at 9:32 AM
    Last edited: Jun 2, 2019
    My opinion is that it should not be as you explain the source of money in letter of explanation and get a declaration from your husband that he making the fund available to you without any condition.

    Refer: https://www.canada.ca/en/immigration-refugees-citizenship/services/immigrate-canada/express-entry/documents/proof-funds.html
    If your spouse is coming with you, you can count money you have together in a joint account. You may be able to count money in an account under their name only, but you must prove you have access to the money.
     
  12. It is strange because such letter can be obtained from any branch of the bank. Wondering which bank it is (is it SBI??). However, it should be okay if you can get statement from any branch even though it is in different city. Other option is, why don't you transfer your account to your local branch?
     
  13. My father will be transferring amount as required for Proof of Funds to my bank, However i don't expect i will be getting ITA till next year. My plan is to keep this amount in my Bank account for 1 year regardless of that.
    Will CIC ask me where i got this amount from even if i have it with me for more than 1 year ?
     
  14. CIC may or may not choose to ask you source of fund but usually, they won't as the fund would be in your account for more than 6 months which they are likely to deem it as your own fund.
     
  15. Would anyone happen to know if for POF whether it'd be required to submit tax documents?
     

Share This Page