Proof of Funds Question

[iferg15]

Hey all,
First of all, thanks for the topic on Proof of Funds, I was able to walk into a TD bank, show them the letter example and get the same for me in less than ten minutes!

My question is... I put in all available funds in my profile. I currently have two bank accounts, one in the US and one in Canada. The one in Canada is just enough for requirements (12k) while the rest is in the US. The problem is, my US bank is taking forever to provide me the same letter TD provided. I have account statements for my US accounts but not the letter requirement. I really want to get things underway and not wait for the US bank letter.

Is it okay if I just reduce my funds to just the TD bank or do I need to show all funds currently available to me? I would have to adjust my profile accordingly if so and it feels a little sketchy to me.

Thank you,

 

[Pippin]

Cover Letter. Anytime something is a little different, attach an explanation. If you already have solid proof from TD you are good to go. You can include your latest US Statement and reference it as additional funds still awaiting bank validation.

 

[salmunsu]

Hello iferg15,

Can you please link me to the post on PROOF OF FUNDS letter? I am going to TD today for a letter and would liek to see and example if possible.

Thanks!

 

[vatsaltr]

hello all,

i have doubt regarding what to show as proof of funds?

can i show fixed deposits which is jointly in my and my father's name?
and also public provident fund (ppf) ?

can i show above two as proof of funds?

kindly reply

thanx in advance

 

[Asivad Anac]

hello all,

i have doubt regarding what to show as proof of funds?

can i show fixed deposits which is jointly in my and my father's name?

Yes. Get a signed self-declaration from your father that he has no objection towards you using those funds as POF.

and also public provident fund (ppf) ?

Not until you cash it out and deposit the monies in the bank.

can i show above two as proof of funds?

kindly reply

thanx in advance

 

[vatsaltr]

y cnt i show ppf as pof?
i cn encash it anytime i want...

one more ques...

do i need to show my bank statements? as i m geting paid in cash i dnt enough transactions in my account

thnx in advance

 

[Asivad Anac]

y cnt i show ppf as pof?
i cn encash it anytime i want...

one more ques...

do i need to show my bank statements? as i m geting paid in cash i dnt enough transactions in my account

thnx in advance

Same reasons you can't show your car, property, jewelry, equity holdings etc. They are all semi-liquid assets unlike cash in the bank which is readily available and has a fixed value on the date.

CIC doesn't ask for bank statements. They become necessary as supporting evidence only if you have to prove to CIC that the funds belong to you and are not borrowed.

 

[vatsaltr]

thank you so much fr the reply

but i am still confused for ppf

as somewhere i read that it can be show as pof... dnt remember where

really confused

 

[Hhh466]

Hello all,

I have recently received an invitation to apply under the FSW program. My question is regarding proof of funds. My bank account has more than enough funds to cover the minimum required. However, On my document checklist it says for permanent residency I need to upload a full financial profile as opposed to just bank statements. I have a mortgage tok which will ofcourse show on my financial profile. Will that have any consequences? Do I need to take additional steps or will having funds in my bank account suffice? Please advise. Thank you!

 

[Asivad Anac]

thank you so much fr the reply

but i am still confused for ppf

as somewhere i read that it can be show as pof... dnt remember where

really confused

Not just you, others have read it too. It all goes back to 1 post on this forum made in 2009 or so. There is nothing on CIC site that validates that info. CIC explicitly states that they want to see monies in the bank.

 

[Asivad Anac]

Hello all,

I have recently received an invitation to apply under the FSW program. My question is regarding proof of funds. My bank account has more than enough funds to cover the minimum required. However, On my document checklist it says for permanent residency I need to upload a full financial profile as opposed to just bank statements. I have a mortgage tok which will ofcourse show on my financial profile. Will that have any consequences? Do I need to take additional steps or will having funds in my bank account suffice? Please advise. Thank you!

You do not have to show bank statements. Just get a signed & stamped certificate/letter from your bank (on their letterhead) that states your present account balance (and account details including date of opening) and the average balance over the past 6 months along with bank. That should be enough.

You don't have to showcase any liabilities in terms of mortgages because you aren't allowed to showcase the values of the corresponding assets so it is hardly a full financial profile.

Focus on what CIC needs here - they want evidence that you have access to at least a certain amount of unencumbered cash which can be used to support yourself and your family, if any, in Canada. As long as you give them that, the other aspects of your financial profile don't matter to CIC.

Hope that clarifies. All the best!

 

[Hhh466]

Thanks for the prompt reply. Time to test how comfortable TD's banking really is. Are you saying that on their letter they will not show the mortgage and that they just need to prepare a statement stating my bank account balance and when it was opened? From what I remember last time they told me that when they print that page out it will always show my mortgage and my credit card information as well. Was there a specific name of this document that you mentioned or just a detailed bank account information type thing? I will go again to the bank and ask.

 

[h2omd]

Hello iferg15,

Can you please link me to the post on PROOF OF FUNDS letter? I am going to TD today for a letter and would liek to see and example if possible.

Thanks!

HI , did you by any chance find the POF letter that was done by TD bank ?

 

[pochfaye0704]

help please...

HOW MUCH PROOF OF FUNDS NEEDED FOR ME AND MY HUSBAND, ME AS THE PRINCIPAL APPLICANT CURRENTLY WORKING HERE IN CANADA (Husband is in the Philiipines)?

 

[Asivad Anac]

help please...

HOW MUCH PROOF OF FUNDS NEEDED FOR ME AND MY HUSBAND, ME AS THE PRINCIPAL APPLICANT CURRENTLY WORKING HERE IN CANADA (Husband is in the Philiipines)?

If it is just the 2 of you, at least 14,853 CAD.

If you qualify under CEC or have an LMIA supported job offer, no POF required.

http://www.cic.gc.ca/english/immigrate/skilled/funds.asp