Proof of Funds (Express Entry)

[Mtimoteo]

Hi me and my family were moving to Canada on January with our work permit. My question is about our POF in our country used for our current PR express entry application. Can we bring the money to Canada? or better to keep it in our country? We are actually planning to transfer all the amount in Canada but not sure if IRCC will accept it.

 

[helloscientist23]

Please help me understand this - I claimed to bring $25,000 CAD to Canada in my express entry application.

But the minimum required for 2 people is $16,135 - so which amount is IRCC going to look at?

In other words, should my proof of funds show $25k or at least $16k?

 

[Mr_Chang]

Show the proof for what you have claimed in your application. If you show proof for less it becomes a very subjecting decision for the VO checking your application.

They may
A.Simply put a note saying POF does not match but is higher than requirement and the application continues
B. Create a Request for clarification and your application gets delayed.

Your application should not really be rejected due to this but again like I said, this creates a situation where the VO needs to take a subjective decision

 

[lampbreaker]

Please help me understand this - I claimed to bring $25,000 CAD to Canada in my express entry application.

But the minimum required for 2 people is $16,135 - so which amount is IRCC going to look at?

In other words, should my proof of funds show $25k or at least $16k?

Did you put 25k in the application or EE profile? You can certainly make changes to the application before it is submitted.

 

[helloscientist23]

Did you put 25k in the application or EE profile? You can certainly make changes to the application before it is submitted.

My EE profile stated $25,000. I think it'll be very touch and go, maybe it'll be like $24,500 by the time I need to request my financial letters and statements.

Won't it look bad if I make the change from $25,000 to $23,000 for example?

 

[lampbreaker]

My EE profile stated $25,000. I think it'll be very touch and go, maybe it'll be like $24,500 by the time I need to request my financial letters and statements.

Won't it look bad if I make the change from $25,000 to $23,000 for example?

No, it will not matter.

 

[Pal12]

You can show funds which are in the co-applicant or spouse's name provided the spouse is accompanying. You do not have to necessarily transfer the funds to the primary applicant's account. However, please note that the spouse should give a signed self declaration stating that you are a co-applicant in your husband's PR application and the funds held in your bank account(s) are to be used for migration purposes and you do no have any objection for the same. You will need to get all the same bank related documents that would apply for the primary applicant as well. In the LOE show a table with the funds totaled from both your bank accounts.

Hi, I am primary applicant and not currently working thus no bank account. So how can i show that i have access to my husband’s bank account? And would this be acceptable? My husband has enough funds for this purpose. Your input would be much appreciated.

 

[claudedunk]

Can anyone help me with this:

1. I printed bank statement of latst 6 months with only incomes (which includes balances after each inflow transaction) , is it okay? I use my bank account to pay everything, therefore if I include all inflows and outflows in my bank statement, it will be over 50 pages.

2. My bank cannot provide a stamped letter to show when my account was opened. Is it Okay to submit bank statement with no opening date of my account( other information like my name and account number is available)

Thanks in advance.

 

[Ginu5254]

Hi

Anyone here has applied for Canadian PR through express-entry from Australia? If yes, how did you manage to get an official bank statement considering the fact that Australian banks don’t issue customized statement and one can only get statement via their bank’s website!

P.s. how old a bank statement can be when we submit our application?

Hi,

I am going through the same issue. Did you manage to get a letter from Comm Bank Australia? If yes, how did you go about it?

 

[maradona007]

Hey everyone, I am stuck at a point where I am not able to decide which way to go? For POF I am planning to declare 3 bank accounts, 2 belongs to me and 1 belongs to my wife. Now the problem is I have multiple bank accounts and funds were scattered around various bank accounts and Mutual Fund, I started consolidating funds more than 4-5 months back but still last 6 month bank statement will show huge amounts being credited apart from salary. In this case, do I need to declare all other bank accounts as well? Or a simple explanation in LOE about why such huge amounts were credited and from where is okay? Any guidance in this regard is appreciated.