Proof of Funds for Study Permit

[danydavito]

I want to apply for a Study permit
I know I need a minimum of 4 months statement of account
Is the full funds expected to stay in the account for the four months?
Or is the four months to show the account performance.
I ask because it is difficult for me to tie such amount of funds for 4 months (for me and my family)
I only plan to liquidate my funds from investment sources just before application for a the study permit

Please Advice

 

[Obeid_oo]

the required funds have to be in the bank for a period of 4 months, that is one year expenses

 

[danydavito]

Thank you Obeid_oo
But this is really serious and difficult for a person like me, but I would try

 

[Obeid_oo]

you are welcome , what is your yearly cost of tuition?

 

[deep9706]

Hi !!

I think this is not compulsory or mandatory that your 1 year expense should be in bank for at-least for 4 months. Bank statements shows that from where your amount is credited/debited so if you mature any of your fixed deposit or any of your policy for funding your education that's not a problem. Just take care if you transfer some money from some-one's account then it can be a sign of consideration. Else i don't think that this is really a big issue. The only thing you should consider is show them an account which is really active with some transactions.

Thankx..

 

[shahzad2002]

I deposit the money in the account before 4 days and got visa so bro be positive n dont worry about it.
You can give them past four months performance.

 

[Obeid_oo]

@ shahazad : i don't know how it worked in you case i deposited 1year fee just 3 days before applying and they refused me for funds. Now i'm planning on re-applying with showing the whole 2 year expenses in my account for that reason i am considering waiting for 4 months.
a seniour friend of mine in Canada said that there should be no withdrawals except small amounts, and also if we pay tuition and residence fess through the same bank account it would make the case more genuine and serious.

 

[shahzad2002]

Actually, my father's account have strong transaction in the past six months.

But money did not maintain for a long time.

I dont know how it could works, I just know ALLAH helps me................... 8)

CIC website stating that past four months bank statement.

They are not saying that past four months statement with require money.

I think they want to see condition of account..........etc

I hope you will follow it.........

 

[deep9706]

Hi !!

Yeah CIC wants to see the active a/c with transactions that's all... That's lame if they want to see 1 year expense in bank for 4 months & i guess that's not possible even..

Thankx..

 

[Obeid_oo]

@ shahazad what would be the outcome if i maintain the required amount for 4 months in the bank , do you think it would look like a planned outcome, i mean it should be like that right?

 

[Obeid_oo]

@ shahazad , i think I know why they refuse me for funds, I miscalculated the one year fees I deposited the funds for expenses by bank to bank method from my uncle's bank acc to father acc , in the statement my uncle's name was written i'm getting a feeling that's why , otherwise my dad's 6 month transaction was around 30000$

 

[shahzad2002]

@ shahazad what would be the outcome if i maintain the required amount for 4 months in the bank , do you think it would look like a planned outcome, i mean it should be like that right?

My father have business transaction of about more than 100000 CAD in past six month. It was original.

I think it gives alot of help.

You can plan to make transaction like deposit of 2,3 k and then transfer or cash this money.
Do this transaction in 2,3 times in a week.
This could be effect of VO's thinking.

 

[Obeid_oo]

precisely , from the embassy guidelines they need one year expenses in the bank so I guess if I deposit 2 year that should not matter

 

[danydavito]

you are welcome , what is your yearly cost of tuition?

About $16,000.00
I am actually into business with the money I plan for school presently
My statement account would show a monthly turnover of about $10,000.00 +/- $4000
But I plan to stop outward transactions (hence stopping the businees) in February and let the inflow build up funds for the proof of funds
Advice

 

[danydavito]

My father have business transaction of about more than 100000 CAD in past six month. It was original.

I think it gives alot of help.

You can plan to make transaction like deposit of 2,3 k and then transfer or cash this money.
Do this transaction in 2,3 times in a week.
This could be effect of VO's thinking.

Thanks a lot for your piece of advice, it gives me a lot of hope and courage. I have been wondering how I would tie funds and hamper my present source of income in Nigeria for 4months and then wait again for the embassy 3 to 4 months to process the study permit. My account is performing and I can maintain a turnover of about $8000 per month and then have the funds fully in within the last 4 weeks before application. Perhaps, I should show them more than 6 months statement so that they would see the account has been performing greatly long before now.

Thanks once again