Proof of Funds (Express Entry)

[Asivad Anac]

Hi all. This is my first post in this forum.
I made my EE profile on 7th December and got PT notificatiin on 11th Dec. From the point of starting this whole process back in Feb I have always looked upto this forum for guidance. Never had I a query that was already not been explained here. I am really really thankful to all the members. You all are doing a great job. This world can be such a better place if people like you all can join hands and help each other. Much appreciated.
Thanks

now just a quick question. I am the principal applica t and my husband trasnferred his funds in my account. Do I need to attach a declaration signed by my husband that it is not a loan? He is accompanying me . Moreover my account is just 10 days old. Do I need to explain that I was currently unemployed and moved to Dubai recently so had no account?

Yes. That would explain source of these funds.

 

[lookcanada]

Hello Asivad,

My situation is as follows. I received the ITA on 6th Jan, 2016. I had a feedback from you on this topic sometime back. Wanted to reconfirm before uploading the documents.

I had my past savings saved in my father's account since senior person earn more interest. Now he transferred back to me in Dec and I converted them into FD for 6 months in my account. Now I had following documents:

1) 6 months statement from bank. Statement shows, credit to my account by my father 2 weeks back. My father has saved the remittance slips.
2) I have 3 FD certificate (cumulative funds of Rs. 10L ) from State Bank. FD's are for 6 months from Dec.
3) My father has written a undertaking that, funds are mine which was saved in his account which is now transferred back to me and does not require them back.

I would like to know if I should upload all the 3 documents or only the FD certificate. FD covers more than what I need to have as POF (approx. 21K Canadian dollars).

 

[Asivad Anac]

Hello Asivad,

My situation is as follows. I received the ITA on 6th Jan, 2016. I had a feedback from you on this topic sometime back. Wanted to reconfirm before uploading the documents.

I had my past savings saved in my father's account since senior person earn more interest. Now he transferred back to me in Dec and I converted them into FD for 6 months in my account. Now I had following documents:

1) 6 months statement from bank. Statement shows, credit to my account by my father 2 weeks back. My father has saved the remittance slips.
2) I have 3 FD certificate (cumulative funds of Rs. 10L ) from State Bank. FD's are for 6 months from Dec.
3) My father has written a undertaking that, funds are mine which was saved in his account which is now transferred back to me and does not require them back.

I would like to know if I should upload all the 3 documents or only the FD certificate. FD covers more than what I need to have as POF (approx. 21K Canadian dollars).

As the fixed deposits have not been exclusively in your name for 6 months or longer, submitting those alone won't be sufficient. You'll have to submit source of funds and these 3 above mentioned documents would collectively suffice to prove that the funds belong exclusively to you and that they aren't borrowed.

All the best!

 

[lookcanada]

Thank you Asivad !!
It is clear now.

 

[faultyjack99]

Thanks Asivad,
I have some queries?
1) Within how many days people get refusal for pof cases.
2) How old should be gift deed
3) Specific to my situation - I have now arranged for funds from my dad account and gift deed. What docs should I send in CSE?


Asivad:
I want some help on how to go about, please guide. PM me on +919324310141

This would certainly lead to refusal.

Arrange for signed self-declarations from everyone who has given you money. These declarations must mention the transaction details and explicitly mention that this transaction is a gift not a loan. They must be supported with bank statements showing credit and debit side transactions.

Send a CSE with these documents along with a polite and apologetic note requesting the officer to add this to your application and hope for the best.

CSE ---> https://secure.cic.gc.ca/enquiries-renseignements/canada-case-cas-eng.aspx

 

[Asivad Anac]

Thanks Asivad,
I have some queries?
1) Within how many days people get refusal for pof cases.

Could be anytime but typically late in the process - after BG checks are done - POF is one of the last things checked before approving an application.

2) How old should be gift deed Dated as close as possible to actual money transfer.

3) Specific to my situation - I have now arranged for funds from my dad account and gift deed. What docs should I send in CSE?

Gift deed, proof of actual money transfer in form of bank statements showing debit/credit side of things and a short LOE explaining the purpose of sending these documents - all of these merged into a single PDF.

 

[Mechanical Engg]

I have applied through Express Entry to CIC and i got PT/INterest letter from OINP last night.
I have two questions regarding this.
1. Now should I start collecting documents which I need to submit within 45 days or first I have to contact OINP that I accept your nomination(do they require any acceptance from my side before sending documents).
2. Regarding funds, we are 3 members so we need to show $18,230. My wife is a principal applicant. I have Rs1,00,000 in previous company PF account & I left that company 3 months back & my wife also have around Rs50,000 in her current job PF account. SO, can we show PF amount as a part of funds.
3. Last, I want to know that we have to submit Bank statement or Balance certificate of the account for the proof of funds.

You are requested to guide me on this.

 

[faultyjack99]

Thanks,
Asivad for gift deed I meant how many months before the gift can be shown.

 

[Asivad Anac]

Thanks,
Asivad for gift deed I meant how many months before the gift can be shown.

The gift can be shown at any point in time. Keep the timing of gift deed and funds transfer as close as possible.

 

[damien86]

Hi everyone,

My bank issued the necessary document, but they refuse to write a bank officer's name, e-mail address, address and phone number. Also the document does not specifically state that "the bank is listing all my accounts". Other than that, it does provide 6 months balance, it is also signed and stamped. Do you think this would be acceptable? What would you suggest?

 

[ravs77]

I have applied through Express Entry to CIC and i got PT/INterest letter from OINP last night.
I have two questions regarding this.
1. Now should I start collecting documents which I need to submit within 45 days or first I have to contact OINP that I accept your nomination(do they require any acceptance from my side before sending documents).
2. Regarding funds, we are 3 members so we need to show $18,230. My wife is a principal applicant. I have Rs1,00,000 in previous company PF account & I left that company 3 months back & my wife also have around Rs50,000 in her current job PF account. SO, can we show PF amount as a part of funds.
3. Last, I want to know that we have to submit Bank statement or Balance certificate of the account for the proof of funds.

You are requested to guide me on this.

- yes , you should start collecting documents, fill application form , attach DD and courier them. That is the only way to accept nomination, no other way to express that you have
- PF cannot be shown as proof of funds however PPF can.
- bank statements signed and stamped by Bank

TIP: Make sure you keep 2-3 days to get DD prepared as banks take 1-2 days to prepare DD. Go to ICICI if you have account, they dont ask for form 15CA/CB

 

[ravs77]

I have few questions:

Recently I submitted by application to Ontario and in my application I have shown funds of 20000 against requirement of 18500

- Do I need to maintain same balance i.e. 20000 CAD in my account all the times , till Ontario respond ?
- Or do I need to maintain 18500 as balance
- Can I use some part of it and then fill it bank within 10-15 days ? Or 18500 min should stay always in my account ?
- Can I get them into fixed deposit so I earn more out of it instead of them sitting ideal in saving account ?

 

[faultyjack99]

Asivad are you available on WhatsApp or is there any group for proof of funds . please add me ..+919324310141

 

[BreakingBad]

I have few questions:

Recently I submitted by application to Ontario and in my application I have shown funds of 20000 against requirement of 18500

- Do I need to maintain same balance i.e. 20000 CAD in my account all the times , till Ontario respond ?
- Or do I need to maintain 18500 as balance
- Can I use some part of it and then fill it bank within 10-15 days ? Or 18500 min should stay always in my account ?
- Can I get them into fixed deposit so I earn more out of it instead of them sitting ideal in saving account ?

Can Someone answer this.

I have two fds which are more than funds.
But my bank certificate also showing my savings account money.

Now, will it be a problem if i use money from salary account since other fixed accounts satisfies the required funds criteria.
Thanks in advance.

 

[cool_canada]

Dear Asivad,

I need your guidance if my situation is ok wrt POF:

I have maintained an average balance around CAD 26,000 but still have a loan (one year before) of CAD 40,000 paying equal monthly installments for another two years. In the bank letter for EE purposes, the banker will highlight an overall debit of CAD 14000; this, I think will not prove a point of maintaining an average of CAD 19000 for six months period. What can be the solution in this situation? I am still thinking to submit the EE due to this problem.

Your help will be much appreciated!