Proof of Funds in 2 diff accounts

[anujap]

Hello

I had Qstn abt POF.

Is it ok if we show $15000 for 2 of us in 2 diff a/cs : 1 in Canadian ($) and other Indian (Rs.) a/c or it has to be in Cad $ only ?

And is it necessary to have tht a/c only under applicants name or even a joint a/c with our father's name is gud ?

Thx

 

[Asivad Anac]

Hello

I had Qstn abt POF.

Is it ok if we show $15000 for 2 of us in 2 diff a/cs : 1 in Canadian ($) and other Indian (Rs.) a/c or it has to be in Cad $ only ?

This is fine - no restrictions based on the currency.

And is it necessary to have tht a/c only under applicants name or even a joint a/c with our father's name is gud ?

If the PA's name is there on the joint account, that would do.

Thx

 

[sbrs2010]

Hi

In context of this question I would like to know if funds in spouse's account be considered or will it have to be in Primary Applicant's account.

 

[Asivad Anac]

Hi

In context of this question I would like to know if funds in spouse's account be considered or will it have to be in Primary Applicant's account.

If they are in a joint account with the PA's name on it, can be used. Else not.

 

[CilliersC]

If they are in a joint account with the PA's name on it, can be used. Else not.

Hello Asivad,

Could you please elaborate on the above? Even if the spouse is accompanying the PA it is not valid? Would it do if the spouse has power of attourney over the account?

Thank you for your help!

 

[Asivad Anac]

Hello Asivad,

Could you please elaborate on the above? Even if the spouse is accompanying the PA it is not valid? Would it do if the spouse has power of attourney over the account?

Thank you for your help!

CIC explicitly asks for POF only from the PA. So the spouse (accompanying or not) cannot be the sole owner of any POF to be shown to CIC. The PA has to be in it - through a joint account or by getting monies transferred to their account. Having a power of attorney over a bank account held by the spouse is an overkill - I imagine transferring funds would be easy.

 

[CilliersC]

CIC explicitly asks for POF only from the PA. So the spouse (accompanying or not) cannot be the sole owner of any POF to be shown to CIC. The PA has to be in it - through a joint account or by getting monies transferred to their account. Having a power of attorney over a bank account held by the spouse is an overkill - I imagine transferring funds would be easy.

Understood - It's just that we've built up a good history of saving for the POF in one account and it would look really strange (yes I realize we can provide a letter stating the source of funds) that the amount amassed over such a short period.

I will have a chat with my bank and see what other options there are; thanks again.