Proof of Funds (Express Entry)

[imacuser]

I have saved the money in my salary account. The bank statement shows the name of my company and credits every month.
Should i still attach my salary slip? And if so do i upload it into LOE?

 

[mhbin]

We have received around $2000USD during the christening of our baby last week. Is it ok put this money to my POF account directly and explain it in LOE, or should I prove it somehow (I have a document from the church for example)?

 

[canada201417]

I have a saving account of my accompanying child. I am a joint holder of account. Will it work as POF ?

 

[jackdawn]

Some have mentioned that they have gotten the bank to specify their passport number, however, is that necessary. I am in the US and my Bank gives a standard letter with closing balance, 12 month avg. balance, account number, my name and address signed and stamped. They can also sign/stamp (bank notary) the statements from last 6 months.

Should the above be sufficient?

This is sufficient

 

[jackdawn]

I have saved the money in my salary account. The bank statement shows the name of my company and credits every month.
Should i still attach my salary slip? And if so do i upload it into LOE?

For POF payslips are required only if asked for. If ur bank letter is as prescribed by CIC then it is fine

 

[mhbin]

We have received around $2000USD during the christening of our baby last week. Is it ok put this money to my POF account directly and explain it in LOE, or should I prove it somehow (I have a document from the church for example)?

Anyone please?

 

[unicorns]

Urgent advice please

I am in the process of arranging my proof of funds and I am not sure a gift deed or affidavit is appropriate for my case.

I recently received part of an inheritance bequeathed to me and the money was transferred to my account. This money makes 25% of what I'm supposed to have in order to apply and the rest 75% was from me alone.

1. Am I to make any explanation since the bulk of my fund originated from me?

2. What significant proof do I need to tender to back this up as nothing was sold?

2. Should I involve a lawyer?

 

[bringmetolife1089]

This is a very long thread. I've tried to go through much of it, but haven't found any specific answer to my case (there might be one, i might have missed)
Mentioned below are my queries:
I do not have sufficient asked funds in my account and would be taking the same from my dad. I need to show $12353 CAD, but for a safer side I'll be showing close to $24000 CAD.
1. Should i have these funds transferred directly in my account or should i transfer it in specific chunks(break it in to specific transactions) ?
2. Should i make an single FD for this amount or make 2 separate FD's ? (I think showing FD would be much more reliable and acceptable by the concerned team)
3. Do i really need to make Gift affidavit ? is it mandatory?
My wife is in canada already pursuing her 1 year study course in Dental Assisting, so i've transferred S10000 CAD to Nova Scotia account and have received the certificate for the same.
4. Should i also be showing the certificate from Nova scotia bank as POF?
5. Is having funds in your account for 3 months or more mandatory?

Kindly assist.
Thank you.

 

[app4ee]

Hello,
I've a question regarding proof of funds.
Presently I'm having sufficient proof of funds which is for one candidate ( i.e., equivalent of $12,300 CAD.)
According to today's rate $1 CAD= 48 INR, if in future the canadian currency value increases suppose up to 51INR, then my funds would go below the minimum requirement of POF.

My question is, will the change in currency value which is not predictable effect my application and it being rejected for insufficient funds?

 

[_Leandro_]

My bank doesn`t provide a letter as of CIC standards and all my money is in a type of account where I can`t get past periods balances, I`m only able to see the current balance.
I have enough money and it has been in this account for a few years.
What should I do to prove I have the money?

Thanks

 

[omarkhan]

Dear all:
I urgently need your help with proof of funds statement. I have till 16th August to submit my EAPR, and I do not have the required amount in liquid form in my account. My questions are:
1) I have a car, that is registered in the name of the last owner but the purchase of car has been clearly mentioned on a stamp paper(affidavit) that mentions me as the buyer and he as the seller, along with the amount paid by me as well as the car info. So if i sell it now and put the sale of car info/receipt on notarized stamp paper that shows me as the owner and seller, would that be sufficient to show as part of proof of funds?
2) Can my father gift his salary and pension savings to form part of the proof of funds?
3) Also, my mother has her savings that she has kept at home in cash. If she wants to gift that amount to me, how can she go about it?
4) I have a small amount of bank loan also, as well as loan from own provident fund. When they say the proof of funds must be unencumbered, does it mean i should first repay all my outstanding loans first, or does it mean only the amount shown as pof should be free of debt?
5) Lastly, given that I must show a six months bank statement, would having amost all the amount just a few weeks before lodging the application have any problems?

Please help. Thank you.

 

[vishalg]

Dear all:
I urgently need your help with proof of funds statement. I have till 16th August to submit my EAPR, and I do not have the required amount in liquid form in my account. My questions are:
1) I have a car, that is registered in the name of the last owner but the purchase of car has been clearly mentioned on a stamp paper(affidavit) that mentions me as the buyer and he as the seller, along with the amount paid by me as well as the car info. So if i sell it now and put the sale of car info/receipt on notarized stamp paper that shows me as the owner and seller, would that be sufficient to show as part of proof of funds?
Upload the sale deed that would mention you as a seller and also upload the proof of sale( cheque copy)
2) Can my father gift his salary and pension savings to form part of the proof of funds?
Yes, upload the gift deed and proof of transfer
3) Also, my mother has her savings that she has kept at home in cash. If she wants to gift that amount to me, how can she go about it?
It would be difficult claim ownership of cash transaction
4) I have a small amount of bank loan also, as well as loan from own provident fund. When they say the proof of funds must be unencumbered, does it mean i should first repay all my outstanding loans first, or does it mean only the amount shown as pof should be free of debt?
Loans are okay unless taken for POF
5) Lastly, given that I must show a six months bank statement, would having amost all the amount just a few weeks before lodging the application have any problems?
Statements are only required if the bank does not give you 6 months average. There is no issue with getting the funds at a stage closer to ITA or application submission. You just need to prove that the funds are not borrowed.
Please help. Thank you.

 

[vishalg]

My bank doesn`t provide a letter as of CIC standards and all my money is in a type of account where I can`t get past periods balances, I`m only able to see the current balance.
I have enough money and it has been in this account for a few years.
What should I do to prove I have the money?

Thanks

If the bank doesn't provide the monthly averages, you need to upload the signed and stamped statements for last 6 months.

 

[omarkhan]

Thank you vishalg. This means I do not need to pay off my loans first, as i'll be having the source of pof.

 

[vishalg]

Hello,
I've a question regarding proof of funds.
Presently I'm having sufficient proof of funds which is for one candidate ( i.e., equivalent of $12,300 CAD.)
According to today's rate $1 CAD= 48 INR, if in future the canadian currency value increases suppose up to 51INR, then my funds would go below the minimum requirement of POF.

My question is, will the change in currency value which is not predictable effect my application and it being rejected for insufficient funds?

We still don't know the exchange rate they take for calculations. But it is advisable to keep at least $1000 as margin from the current exchange rate mentioned on bank of Canada's website.