Proof of Funds (Express Entry)

[grapehair]

Hey guys, respectfully I'd like to ask about credit card debt. I have 9 credit cards from 7 different banks. 3 of them with an active balance totalling about $950 USD. The rest of them doesn't have any balance. I'm already showing more than enough on my PoF letter, more than I actually declared that I'll bring to Canada.( $13000 declared compared to $18000 that are showed in the bank statements).

Do I have to give bank letter from all the credit card banks or just the ones with credit card loans??

 

[kryt0n]

Hey guys, respectfully I'd like to ask about credit card debt. I have 9 credit cards from 7 different banks. 3 of them with an active balance totalling about $950 USD. The rest of them doesn't have any balance. I'm already showing more than enough on my PoF letter, more than I actually declared that I'll bring to Canada.( $13000 declared compared to $18000 that are showed in the bank statements).

Do I have to give bank letter from all the credit card banks or just the ones with credit card loans??

Technically, yes. Can't you just close them if you aren't using them?

 

[grapehair]

Technically, yes. Can't you just close them if you aren't using them?

My credit score will take a hit if I close them. They all have credit limits around $8000 USD

 

[tahminaml]

My bank mentioned current balance but didn't mention the average balance of the past six months.. Rather gave me the bank statement.. Is tht a problem?

 

[Realme]

My bank mentioned current balance but didn't mention the average balance of the past six months.. Rather gave me the bank statement.. Is tht a problem?

I don't think that's a problem to the best of my knowledge

 

[rasholm]

hi all, does the letter from the bank showing proof of funds for express entry need to be less than 1 week old as is the case when applying through IEC?

 

[johnjkjk]

Hi. I submitted fixed (term) deposit certificate and bank letter for proof of funds. Now whilst waiting for PR, some of these deposits have matured (i.e. interest reached the end of term). They have been renewed with the same account numbers and values and I created a new deposit also from the interest gained. Do I need to submit new certificates and bank letter? My only worry is that the bank letter and certificates state a maturity date. However if I submit these new statements then the opening date will be today so I don't want to a dig a hole for myself.

All I have so far is medicals passed- no other changes, so I don't know whether this aspect of my application has been reviewed yet (GCMS notes on the way).

 

[kryt0n]

hi all, does the letter from the bank showing proof of funds for express entry need to be less than 1 week old as is the case when applying through IEC?

The newer the better, but there is no set time. Less than 2 weeks should be acceptable.

 

[deepakf1]

Hi all,

Have been following the posts on this however have received different versions on different places hence requesting again for clarity -

iI am the primary applicant on the EE Profile however the POF are in the name of my spouse only (who is the co-applicant) in the form of Fixed deposits which were booked in Nov 2016. Would this be sufficient or do i need to show the funds only in my name ?

Kindly assist.

Regards

 

[Didona84]

do we need to include credit card statements?? what if there is outstanding bills?

It doesn't say anywhere to include these. To my understanding, the VO only wants to know whether you have the money to survive after the landing and that the money you have is not borrowed. They are not interested in your net worth.

 

[Amaljohan]

I gotta add something.
My wife was the main applicant when we are applying for PR and funds was under my name and it was only 2 weeks old (Fixed Deposit). We didnt had any problems with that. And according to GCMS my POF got cleared withing the first 45 days.
So dont worry about the funds if your spouse contributed to CRS. Its all about the way you present your file, just make sure to ease your visa officer's life without making it complicated. As someone said they only wanted to know about your financial situation after you became a Canadian PR. Cheers.

 

[reason1228]

hey guys, just simple questions. POF of EE, does it HAS TO be a letter from bank? Or just use monthly bank statement and combine them is ok? The statement has most of the required information but no date of the account was opened.

 

[hrk777]

i had received ita on 24th at present i had low balance in my account.since my brother will give the required amount to show in my account.so it is ok or i have to mention this LOE.

 

[anishtrip]

Hello guys,

Request help/feedback

I have major investments in Mutual Funds and stocks in in Indian stock market. Can these holdings be shown as proof of funds?

Also I have multiple accounts in my country of origin and in my country of residence. Can I show applicable funds across more than one account or can I show just one account to the CIC authorities?

thanks

 

[kryt0n]

hey guys, just simple questions. POF of EE, does it HAS TO be a letter from bank? Or just use monthly bank statement and combine them is ok? The statement has most of the required information but no date of the account was opened.

Try to get a letter as per IRCC requirements, however they have accepted statements with no issues.