Proof of Funds (Express Entry)

[Navprateek]

Anyone please???
Hi,
I am submitting the file for my sister in law, she got the ITA, I am little confused with the funds section as you have to provide the statement for last 6 months. She has a joint account in India with her father in law, I got the affidavit from the person she shares account with, saying he doesn't have any issues with her using the funds. Now she didn't had enough funds in October and November. But then a large amount was deposited by the person she shares account with in Dec.

Now we are little worried how to proceed next. Her current balance is more than enough as per the requirement of cic. Shall we just submit the applications with the details we have based on above scenario?

Please advice

 

[babilon]

Hi guys,
My wife will give me a gift deed for transferring money to my account. Does she still have to provide the bank statements of the past 6 months as well?
Thanks

 

[maver]

Hello all - We are required to provide 15,143 cad for two people (I and my wife). I had 16,100 cad in my account but my wife transferred 9000 cad to my account recently. So, now I have more than the required amount in my account. Do I still have to get a gift affidavit signed by my wife?

 

[umar32085]

Hello all - We are required to provide 15,143 cad for two people (I and my wife). I had 16,100 cad in my account but my wife transferred 9000 cad to my account recently. So, now I have more than the required amount in my account. Do I still have to get a gift affidavit signed by my wife?

I don't think so. Because you already had more than required.

 

[umar32085]

Anyone please???
Hi,
I am submitting the file for my sister in law, she got the ITA, I am little confused with the funds section as you have to provide the statement for last 6 months. She has a joint account in India with her father in law, I got the affidavit from the person she shares account with, saying he doesn't have any issues with her using the funds. Now she didn't had enough funds in October and November. But then a large amount was deposited by the person she shares account with in Dec.

Now we are little worried how to proceed next. Her current balance is more than enough as per the requirement of cic. Shall we just submit the applications with the details we have based on above scenario?

Please advice

Yes you may do so. When I was filing my application, I borrowed the requisite money from my uncle, kept it in my account for a month or so, and then took a bank statement for 6 months (out of which 5 months I had nothing in my account). But the closing balance was more than the requirement

 

[vimmy91]

Hello experts,

My CRS is 399 as of now , but it will become 411 on 2nd june(with 3 years of experience in IT).
So my fingers are crossed to get an ITA. But I get salary in hand, so please tell me, do i still need to show bank statement ??
if yes, then, of how many months.?
Actually I have a RFD(Recurring Fixed Deposit) which is around a year old. So i m going to produce it as a proof of fund. But it is in post office(India) and not into a bank. THOUGH IT IS VALID, I m into a confusion, whether i need to show a bank statement as well
??

please reply, I m looking forward to some help !!

 

[maver]

I don't think so. Because you already had more than required.

Thanks umar! I have also another question. In the forum, I've read that stocks or bonds are not acceptable for POF. But in CIC website there is this paragraph:

How much money should you bring?
It is a good idea to research how much it costs to live in the place where you plan to settle in Canada.

Bring as much money as you can to make moving and finding a home in Canada easier. Note, however, that Canadian customs regulations require you to declare if you are bringing more than CAN$10,000 into Canada. If you do not tell them, you may be fined, and your funds could be seized. These funds could be in the form of:

cash,
documents that show property or capital payable to you (such as stocks, bonds, debentures, treasury bills, etc.), or
documents that guarantee payment of a set amount of money, which are payable to you (such as bankers’ drafts, cheques, travellers’ cheques or money orders).

Can we still upload our stock and bond index account statements as part of POF?

Thank you in advance?

 

[PhuongNguyen13]

Dear all,
When providing my POF, my bank's letter only states the current balance and the date of opening, which is also the same date of issuing this letter, so there is no past transaction except my depositing the aforementioned amount. Will this be a problem?

 

[kamy]

Hi,

Anyone from India used demand draft to carry proof funds or wire transfer without a canadian bank account.
Does bank require canadian address to issue demand draft or wire transfer

 

[umar32085]

Thanks umar! I have also another question. In the forum, I've read that stocks or bonds are not acceptable for POF. But in CIC website there is this paragraph:

How much money should you bring?
It is a good idea to research how much it costs to live in the place where you plan to settle in Canada.

Bring as much money as you can to make moving and finding a home in Canada easier. Note, however, that Canadian customs regulations require you to declare if you are bringing more than CAN$10,000 into Canada. If you do not tell them, you may be fined, and your funds could be seized. These funds could be in the form of:

cash,
documents that show property or capital payable to you (such as stocks, bonds, debentures, treasury bills, etc.), or
documents that guarantee payment of a set amount of money, which are payable to you (such as bankers’ drafts, cheques, travellers’ cheques or money orders).

Can we still upload our stock and bond index account statements as part of POF?

Thank you in advance?

Whatever you are talking about, has nothing to do with POF when you r submitting your case for EE. Regarding border crossing, you must declare any amount more than CAD$10,000, whether it is in the form of cash or bonds or whatsoever mentioned in the website.
Hope that answers your question.

 

[maver]

Whatever you are talking about, has nothing to do with POF when you r submitting your case for EE. Regarding border crossing, you must declare any amount more than CAD$10,000, whether it is in the form of cash or bonds or whatsoever mentioned in the website.
Hope that answers your question.

I see. This paragraph is just below the chart showing how much money should one bring according to the family member number. Things can be confusing sometimes. POFs are indeed confusing for many people as each country has its own rules. Wish best of luck to everybody.

 

[umar32085]

I see. This paragraph is just below the chart showing how much money should one bring according to the family member number. Things can be confusing sometimes. POFs are indeed confusing for many people as each country has its own rules. Wish best of luck to everybody.

Yes it varies from country to country, but the basics of POF are same, as mentioned in the website and we have to follow that.

 

[ashwani_pant]

Proof of funds

Dear Members,

Good morning.
I received invitation for applying for PR under express entry on 20th April 2017.
I am doing all documentation related work by myself.
I would be thankful if someone could tell me if getting a stamped bank statement will do as POF?
Of course the statement will not have the date of opening but it will have bank address, my name and 6 months financial information.

Do i need to get some other document as well along with the statement?

Thank you in advance.

Ashwani

 

[VICKYVINAYAK]

Re: Proof of funds

Dear Members,

Good morning.
I received invitation for applying for PR under express entry on 20th April 2017.
I am doing all documentation related work by myself.
I would be thankful if someone could tell me if getting a stamped bank statement will do as POF?
Of course the statement will not have the date of opening but it will have bank address, my name and 6 months financial information.

Do i need to get some other document as well along with the statement?

Thank you in advance.

Ashwani

Yes it will suffice the requirement. The info you have mentioned is good to go.
But you should apply to bank for the current balance in account declaration which is a single page document and you can get it in 10 mins if you go to bank. Statements will not be needed in this case then

 

[umar32085]

Re: Proof of funds

Dear Members,

Good morning.
I received invitation for applying for PR under express entry on 20th April 2017.
I am doing all documentation related work by myself.
I would be thankful if someone could tell me if getting a stamped bank statement will do as POF?
Of course the statement will not have the date of opening but it will have bank address, my name and 6 months financial information.

Do i need to get some other document as well along with the statement?

Thank you in advance.

Ashwani

Yes it will be fine, as long as it is of at least 6 months, with closing balance more than the minimum amount required. Just attach an Account Maintenance Certificate with it.