Proof of Funds (Express Entry)

[HadiMilan]

You cannot use funds that you do not have (yet) as proof of funds.

Thank you sir. This is a HUGE help, because I was about to submit my package!!!
I owe you one, for sure!

 

[danishsaeed]

Guys,

I need help. I just received an ITA and have all documents ready except the proof of funds.

All our savings are in gold which is sitting at home so can we use or not?

Can we sell it and use that money or will it not work?
Does it have to be a CAD account or a local currency account would do?

Looking forward to hearing from you guys soon.

 

[vishalg]

Guys,

I need help. I just received an ITA and have all documents ready except the proof of funds.

All our savings are in gold which is sitting at home so can we use or not?

Can we sell it and use that money or will it not work?
Does it have to be a CAD account or a local currency account would do?

Looking forward to hearing from you guys soon.

You can sell it, upload the sale deed along with the scanned copy of cheque and the bank letter.
Any currency is fine.

 

[karenn1617]

Hello there,

I got a question related to fulfilling the funding requirements. My case too is just like any other on the forum. From where, one can consider getting the funds and what all documents required.

1. I got the option to get it arrange from mine relatives - Uncle and Aunty ~ parent's first siblings (real brother/sister).
2. Second option is to get from grandparents.

Please confirm that do the above will work AND what documents I will be requiring to submit alongside as after all it will be a case of GIFT.

Thanks
K

 

[vishalg]

Hello there,

I got a question related to fulfilling the funding requirements. My case too is just like any other on the forum. From where, one can consider getting the funds and what all documents required.

1. I got the option to get it arrange from mine relatives - Uncle and Aunty ~ parent's first siblings (real brother/sister).
2. Second option is to get from grandparents.

Please confirm that do the above will work AND what documents I will be requiring to submit alongside as after all it will be a case of GIFT.

Thanks
K

Responded in another thread

 

[sahildrabu]

I need assistance regarding proof of funds.
How old the money should be in the account?
3 months or 6 months or they don't bother when the money is credited in the account.

 

[SaintNishant]

All, I have a query about PoF - I am using Provided Fund (India) as PoF.

I applied to PF Office for a letter stating the balance and also a ledger which will detail all the transactions (read deposits) into the account. While the ledger they provided looks good as its a computer print and is signed and stamped. The balance letter they provided is handwritten. Though it specifies my a/c number, the account balance and is signed and stamped by the Assistant PF Commissioner.

I was expecting a typed letter, so now confused if this is OK. Has anyone seen/ or got a similar letter, handwritten from the PF office.

 

[Krystine]

Hello Guys

I am now working in Canada and I have 1 TD account (checking) and 1 BMO account (also checking).

However I do not have enough funds in both accounts for POF right now, and my parents wants to gift me somemoney which is above my LICO from my home country. The money will be transferred into my home country account in local currecy.

When submitting the POF, will it be okay to submit only the funds in my home country account where I have sufficient funds for POF or is it necessary to submit all the funds from all the personal bank accounts I have?

 

[vishalg]

All, I have a query about PoF - I am using Provided Fund (India) as PoF.

I applied to PF Office for a letter stating the balance and also a ledger which will detail all the transactions (read deposits) into the account. While the ledger they provided looks good as its a computer print and is signed and stamped. The balance letter they provided is handwritten. Though it specifies my a/c number, the account balance and is signed and stamped by the Assistant PF Commissioner.

I was expecting a typed letter, so now confused if this is OK. Has anyone seen/ or got a similar letter, handwritten from the PF office.

Just the stamped and signed ledger is enough.

 

[vishalg]

Hello Guys

I am now working in Canada and I have 1 TD account (checking) and 1 BMO account (also checking).

However I do not have enough funds in both accounts for POF right now, and my parents wants to gift me somemoney which is above my LICO from my home country. The money will be transferred into my home country account in local currecy.

When submitting the POF, will it be okay to submit only the funds in my home country account where I have sufficient funds for POF or is it necessary to submit all the funds from all the personal bank accounts I have?

Show accounts to cover POF. Other accounts are not required. If you're taking a gift, upload the gift deed also.

 

[Krystine]

Show accounts to cover POF. Other accounts are not required. If you're taking a gift, upload the gift deed also.

Great to know. Thank you. Do I also need to convert the money into Canadian dollars when I show the POF?

 

[omarkhan]

Dear all: I have to show a pof for which my father will be giving me a gift deed of the required amount by selling some property. What would be the best thing to do for him: Either to sell the property and then deposit the amount in my account, or rather to transfer the ownership of the property in my name I sell it to generate the required amount.

Also, my mother has her savings which she wants to help me with. But the problem is that her money is not kept in any account but at home. How can I prove that the money was gifted by my mother?

Please suggest what should I do? Thanks

 

[vishalg]

Great to know. Thank you. Do I also need to convert the money into Canadian dollars when I show the POF?

Ask the bank to provide the figures in CAD also. If they don't use an LOE/covering letter and summarize the POF and convert the amount in CAD using the conversion rate given on bank of Canada's website.

 

[vishalg]

Dear all: I have to show a pof for which my father will be giving me a gift deed of the required amount by selling some property. What would be the best thing to do for him: Either to sell the property and then deposit the amount in my account, or rather to transfer the ownership of the property in my name I sell it to generate the required amount.
Either way is fine. But if he is going to gift you the property then the deed would involve registration fee ( significant). Cheaper option would be to sell it and get the funds in his account and then gift you the relevant sum. This is just my opinion, a lawyer or other experienced people might give other suggestion.
Also, my mother has her savings which she wants to help me with. But the problem is that her money is not kept in any account but at home. How can I prove that the money was gifted by my mother?
Proving ownership and providing source of Cash would be a challenge. Would advice to not go with this.
Please suggest what should I do? Thanks

 

[Lyssiej]

We are sitting in the pool at 411 and figuring out pof. My husband just sold stock options he has in his company to cover the cost. The money will be deposited in a bank account. Is it enough to get a letter from the bank or should we provide some kind of evidence of the options sale to show as well for POF?