Proof of Funds (Express Entry)

[shahabkaz]

Hi there,
I have been admitted to a PhD program and have some questions:

1. The bank account belongs to my wife (who is accompanying me), can we use her bank statement?
2. I have a bank statement but the issue date belongs to three months ago, can I use it?

I would be grateful, if you let me know the latest changes in regulations regarding those above questions.

Best,
Shahab

 

[MERIEM1986]

Hi
I have some questions related to POF:
I have a bankloan for my appartment that shows in my bank statement: Is this a problem? i'm actually planing to sell the appartment later, but not before getting my PR?

 

[TravellingMechie]

Hi Members,

Need your expert guidance on my POF queries.

There have been multiple transactions over a week from my father's account to my account totaling to half the sum of my POF.
How do I show these mulitple transactions in a single gift deed?

My wife is getting a significant sum of money from her parents as well to contribute to our POF.
Can anyone suggest me how do I route the fund. See below for the routes which has crossed my mind.

Option 1. Her father can send it to her single account (is a gift deed from her parents to her required?? Fund is less
than 3 months old) and she(Accompanying Spouse) can send it to me (PA) and write a gift deed. I can submit all together.
Note: All the funds except for her parents account are of less than 3 months.

Option 2. Her father can directly send it to me and write a gift deed to me. But then its not a direct relation. Will that
pose a problem?

For donors of the gift deed, are their bank statements also needed?

Thanks

bump *** anyone

 

[Roshan]

My bank has provided the statement in a B&W print,....is it acceptable? but the sign and seal is in color.

 

[Julayee]

Hi
I have some questions related to POF:
I have a bankloan for my appartment that shows in my bank statement: Is this a problem? i'm actually planing to sell the appartment later, but not before getting my PR?

Hey, I have the same problem. did you get any advice on this?

 

[jahnvi]

Hi
I need help regarding my POF.
I have received ITA. I am the only applicant and I have these queries:

10% money I have in my FD dated a year back.
For the requirement of my funds for $12k, 30% will be given by my parents. So I am getting two gift deeds from them.
I have my brother and his wife in Canada and my sister-in-law has transferred me 60% of money.

I am confused should I get a gift deed signed by Canadian Notary from her? Are 3 gift deeds alright?
Or should I simply show the money transferred by sister-in-law in account and attach a bank statement/electronic statement of her Canadian bank account? If yes, Do I need an affidavit still from her that this money is irrevocable?

In addition, should I attach an affidavit from my brother stating he will take care of me while in Canada??

Please help me with this matter, as I am done with almost all other documents and stuck with it!

 

[MERIEM1986]

Hey, I have the same problem. did you get any advice on this?

Hi
Not yet

 

[tichupichu]

My bank has provided the statement in a B&W print,....is it acceptable? but the sign and seal is in color.

Its fine.
But your it should be on the letter head.

Plus the balance confirmation should be on the original color letterhead.

 

[tichupichu]

Hi Members,

Need your expert guidance on my POF queries.

There have been multiple transactions over a week from my father's account to my account totaling to half the sum of my POF.
How do I show these mulitple transactions in a single gift deed?

My wife is getting a significant sum of money from her parents as well to contribute to our POF.
Can anyone suggest me how do I route the fund. See below for the routes which has crossed my mind.

Option 1. Her father can send it to her single account (is a gift deed from her parents to her required?? Fund is less
than 3 months old) and she(Accompanying Spouse) can send it to me (PA) and write a gift deed. I can submit all together.
Note: All the funds except for her parents account are of less than 3 months.

Option 2. Her father can directly send it to me and write a gift deed to me. But then its not a direct relation. Will that
pose a problem?

For donors of the gift deed, are their bank statements also needed?

Thanks

I think the option 2 is better.
Direct relation shouldn't be a problem as per my understanding. Bank statements of donor is not required a legal gift Deed duly attested would suffice.

If you want to go for option 1. No need to get the funds in your account. Accompanying Spouse money and a NOC for letting you use the funds for CIC would be enough.

 

[tichupichu]

Hi All,

I need some help and info regarding "Proof of Funds"
1. Do I need to show all funds in my name only or can I show funds in my wife's name also?
2. Regarding funds, can I show "Fixed deposit" in my wife's name?
3. Can I show my company "Provident Fund" balance as PoF?

1. you can show the funds on your accompanying Spouse name but provide a NOC from her side for letting you use this funds for CIC
2. yes, provide NOC
3. you can attach it and explain the letter but consider this in addition to the minimum threshold.

 

[tichupichu]

My bank has provided only a bank statement and no letter as POF.

It has all the details required by CIC as mentioned on their webpage except the account opening date.
Would this be an issue?

Normally the Bank should give you the Balance confirmation as of the date and the Bank Statement for the past six months. Banks wont provide balance confirmation for past six months

 

[tichupichu]

1

Hello All

I need a help in few matters, I received ITA on 4th October,

I got 10 lacs from my wife's brother in law via online banking transaction 250,000/- each its done in four days because bank has limit for online transaction and on October 8 I received 860,000/- from my Bhabhi (wife of my brother) I have to return them 60,000/- rest 8 lacs + above said 10 lacs will remain in my wife's bank account as she is main applicant (as they are ours we don't have to return them) . Now my concerns are:-

1) What should I have to do to justify these funds ?
2) I am filling personal history form, but when i save the details the very next morning these details disappear,, so why this is happening?
3) In educational details " Complete from" is written but when i open to check there is nothing in it.. why it is like this?
4) I got ITA on my wife's Secondary education (Primary Applicant) and she is doing job since 2007 and parallel to that she was studying in evening sessions as full time student. so what to do if dates of job and experience are overlapped.
5) Same is the case with my personal history as I try to fill them overthinking disappears when i log in next time. why this?


Your prompt reply and help will be appreciated

Regards

Hasan

1) Explain your situation in the letter of Explanation. but for this much sudden credit you need to provide them evidence that its non-refundable to them. Best way to do it is a legal gift Deed otherwise its difficult to prove that its your money.
2) make sure you save and exit questionnaire properly.
3) May be because you have selected that you have not attended High school.
4) Thats not a problem, but make sure you mention that education as part time. and claim the No. of years accordingly.
5) make sure you save and exit questionnaire properly.

 

[tichupichu]

Hi
I have some questions related to POF:
I have a bankloan for my appartment that shows in my bank statement: Is this a problem? i'm actually planing to sell the appartment later, but not before getting my PR?

Yes its a problem
Funds must be readily available to you. CIC also asks for all your liabilities which means your settlement funds are net of any liabilities.

Selling your apartment in future is not applicable as real estate property is not acceptable as proof of settlement funds.

you need to satisfy that you have enough settlement funds after settling all your liabilities.
Car loan is a different story.

 

[tichupichu]

hI ALL,
I am in a dilemma whether to decline my ITA on 73rd draw or to go ahead with the application. Can some one please throw some light on below said situations :

1) My Degree completion date i gave as the same one in my degree certificate( may-2013). But the certificate was issued one year after my provisional/course completion certificate(july-2012). Meantime i joined for my master degree in aug-2012 for which i have my semester exam sheet. When i filled my ee profile i gave the date as may-2013 which is the same in ECA and they gave me a master equivalency. But now i started filing the e-apr, i found that i need to give my address history and work history, which might coincide with these dates. Will that be problem?

2) I gave my working hours as 60 / week in my EE profile. But the work reference letter i received my company shows only 45 hrs /week. hey excluded my overtime.

3) I have given work history for my wife in my EE profile. but if i gave the same in e_apr they are asking for her work reference letters which are hard to arrange. All we have is her work experience certificates.

Help will be greatly appreciated

Point 1 and 2 are not severe enough to decline the invitation. you just make the dates match to the ECA and your marksheets. Certificate / Degree issued afterwards doesnt really matter.
2) you can only prove 45 hours / week so mention the same. It shouldnt be a problem as long as you have enough overall experience.

3) This can lead to rejection of your application if your points excluding your wife's experience gets below the minimum CRS for 73rd Draw, i.e. 438.
Please also note that the experience letter for both you and your wife should have some specific contents and any missing element can lead to the rejection of your experience.

My strong recommendation to you would be to recalculate your CRS score with your experience of 45 hours per week and excluding your wife's experience. If you still have above 438, then you may safely submit your application. Else its better to decline the invitation and try to improve your points.

 

[jonnclk22]

I am supplying only last statement.
I will not provide neither 6 month balance or offcial letter from bank.
CIC have information about my funds from January.

Rules does not distinguish between those in Canada and not. And that is biggest fault they have.

I apply the way I want, I applied before and got visa, and I did not exactly as it's written in their guide.

I never provided any bank statements except bank print out on the day when application filed. I got permit with this information.

How did that work out mate? I am thinking of doing the same thing.