Proof of Funds (Express Entry)

[Mthornt]

Has anyone been negatively affected by their credit card balances when applying for PR?

 

[bestofluck]

Has anyone been negatively affected by their credit card balances when applying for PR?

It has nothing to do with POF

 

[Mthornt]

It has nothing to do with POF

Meaning they aren't at all considered by CIC during POF determination process?

 

[bestofluck]

Meaning they aren't at all considered by CIC during POF determination process?

yes

 

[kami617]

hi everybody,
applying for PR requires Proof of Fund.. it states that
o The letter(s) must be printed on the letterhead of the financial institution and must include the applicant’s name, the contact information of the financial institution (address, telephone number and email address), the account numbers, the date each account was opened and the current balance of each account as well as the average balance for the past six months.
Now thing is that I have recently opened an account and deposited the money in it...How come I would be able to show average balance for past six months???

 

[Wolverine17]

Hi guys one more question please the i can get the bank statements by priting them online then taking them to the bank and stamping them,usually the bank does the same process if will get them from there,as far as account info and balance they can gave me one letter with account info and the other with net balance only and not average balance they said that this is the bank policy and the formats that they have so is it ok?will i need the letter stating the net balance or its not needed since it wil be shown in my bank statements

 

[bestofluck]

hi everybody,
applying for PR requires Proof of Fund.. it states that
o The letter(s) must be printed on the letterhead of the financial institution and must include the applicant’s name, the contact information of the financial institution (address, telephone number and email address), the account numbers, the date each account was opened and the current balance of each account as well as the average balance for the past six months.
Now thing is that I have recently opened an account and deposited the money in it...How come I would be able to show average balance for past six months???

Show them where did you bring the money from. IF the money is gifted by parents you need a gift deed. Remember the money gifted by parents also has to be with them since 6 months and not borrowed recently.

 

[bestofluck]

Hi guys one more question please the i can get the bank statements by priting them online then taking them to the bank and stamping them,usually the bank does the same process if will get them from there,as far as account info and balance they can gave me one letter with account info and the other with net balance only and not average balance they said that this is the bank policy and the formats that they have so is it ok?will i need the letter stating the net balance or its not needed since it wil be shown in my bank statements

Not required. The statements already show net balance. Write a forwarding letter calculating 6 months average balance.

 

[Wolverine17]

Not required. The statements already show net balance. Write a forwarding letter calculating 6 months average balance.

So i will just submit the bank statements then,what about the account info should i get the letter for that?

 

[gurik]

Show them where did you bring the money from. IF the money is gifted by parents you need a gift deed. Remember the money gifted by parents also has to be with them since 6 months and not borrowed recently.

Is this mandatory in gift deed for parents to show their source, I am getting a gift deed and my parents fill huge amounts in ITR, which can easily justify that amount of saving, plus the family business is such that sums of money keep coming and going, i.e there is no proper bank statements to show consistent 6 month old money in bank maintained in such huge amount, please let me know if you have some insight into this matter and if this is a mandatory thing and can lead to rejection?

 

[jackdawn]

Is this mandatory in gift deed for parents to show their source, I am getting a gift deed and my parents fill huge amounts in ITR, which can easily justify that amount of saving, plus the family business is such that sums of money keep coming and going, i.e there is no proper bank statements to show consistent 6 month old money in bank maintained in such huge amount, please let me know if you have some insight into this matter and if this is a mandatory thing and can lead to rejection?
[/quote

If such amounts keep coming in and goes out then the average is made and it shows up in their account. it need not b maintained for 6 months but should back it up with source. it should'nt be a worry for u i guess.

May b bestofluck could clarify

 

[anwar01]

Dear Experts!

For POF, only parents can gift you money or your siblings can too!! My brother wants to give 40% of my POF as a gift, for which I will attach a gift deed. Is it acceptable??

Regards

 

[gurik]

Is this mandatory in gift deed for parents to show their source, I am getting a gift deed and my parents fill huge amounts in ITR, which can easily justify that amount of saving, plus the family business is such that sums of money keep coming and going, i.e there is no proper bank statements to show consistent 6 month old money in bank maintained in such huge amount, please let me know if you have some insight into this matter and if this is a mandatory thing and can lead to rejection?
[/quote

If such amounts keep coming in and goes out then the average is made and it shows up in their account. it need not b maintained for 6 months but should back it up with source. it should'nt be a worry for u i guess.

May b bestofluck could clarify

Thank you, i just got so worried, it is reassuring

 

[priyabhee]

AS Proof of funds

i am submitting T4 slips

and bank statement of 65k$

my salary is 70k$/year working in canada since 1 and half year

i am saving my money to buy a new house


does showing more balance would be a problem?

 

[Escobar Gaviria]

Hi everyone,

I am getting required amount from my brother and uncle.

what documents other then mentioned below do I need?

1- Account statement of donor before transfer.
2- Proof of transfer in my account
3- My bank statement after amount credited in my account.
4- Gift deed.

Any thing missing in here?

Also, what is the difference between an affidavit and gift deed? Aren't both the same things?
What is the content of affidavit?