Proof of funds - Spouse account

[PiyushAgrawal06121985]

Its not hearsay mate. It is done by a few people I know and whom it has worked for.

That being said, you can wait till January when I am hoping to hear on my application!

 

[Gabbana]

Can someone help me?

My POF is under my accompanying spouse's account.

I already submitted my app in August. See my timeline below.

However, in my Submitted LOE, I explicitly mentioned that my spouse's account will be used as PoF. It was unsigned.

As of now, I'm planning to submit a notarized affidavit of my spouse declaring that the POF is also irrevocably given to me. Notarization date is before application date.

What's the wisest thing to do?

Please stop explaining about the rules. Think as if you're in my current situation. Thanks

Please advise. Thanks

 

[annpotpot]

Can someone help me?

My POF is under my accompanying spouse's account.

I already submitted my app in August. See my timeline below.

However, in my Submitted LOE, I explicitly mentioned that my spouse's account will be used as PoF. It was unsigned.

As of now, I'm planning to submit a notarized affidavit of my spouse declaring that the POF is also irrevocably given to me. Notarization date is before application date.

What's the wisest thing to do?

Please stop explaining about the rules. Think as if you're in my current situation. Thanks

Please advise. Thanks

Hi Gabbana, If I were you:

- I willl get my spouse withdraw and transfer the money needed to my bank account.
- I will get a bank statement with my name from the bank with my current balance.
- I will get a declaration from my spouse and provide proof of the bank transfer.

Along with all these documents I will provide a Letter of Explanation then will submit it through CSE.

 

[deepaksood]

I strongly recommend not to take any chance and funds should be shown in Primary applicant's account. Just to let you know, even PF balance is considered.

You may show funds available in spouse's account however try to show the minimum balance in your account only.

 

[Gabbana]

Hi Gabbana, If I were you:

- I willl get my spouse withdraw and transfer the money needed to my bank account.
- I will get a bank statement with my name from the bank with my current balance.
- I will get a declaration from my spouse and provide proof of the bank transfer.

Along with all these documents I will provide a Letter of Explanation then will submit it through CSE.

If I'm going to do it, actual transfer will be January already.

Banks in our country has 5 working day clearing time, we have only 2 remaining working days for 2015.

I just hope that it is worth it by that time

 

[annpotpot]

If I'm going to do it, actual transfer will be January already.

Banks in our country has 5 working day clearing time, we have only 2 remaining working days for 2015.

I just hope that it is worth it by that time

You can just explain. That in good faith you have presented a bank statement under yourspouse account and provided a letter of explanation when you submitted your explanation. However, You do not want to take any chances and doubt in terms of the funds available so you and your spouse decided to transfer the money to your account (which is the PA) and you are now submitting all necessary documents to prove it.

If you have doubt just be honest with CIC and explain why you are doing it. I know sometimes we are over doing things because of our paranoia... but I guess its worth the shot. I do not think that the Visa Officer's will take it against us we overdo things. It only shows how badly we want to get the approval.

All the best!

 

[PiyushAgrawal06121985]

Agree with Ann on the part for being truthful.

Additionally the steps mentioned are absolutely what you need to do. Your LOE can explain why you did this and it should positively help you!

Good luck mate.

 

[Phil89]

I just laughed reading all this. You guys are paranoid and losing your mind completely.

 

[annpotpot]

I just laughed reading all this. You guys are paranoid and losing your mind completely.

Haha I know right ... I need time off from this forum... seriously.

Merry Christmas Everyone!!!

 

[patel.suneesh]

I need to clear a doubt about POF , please help me understand it. Here is the situation :

a) My wife has close to Rs8 lakhs (16000 Canadian dollars) in her provident fund account will they accept provident fund account as POF ?

b) If not will fixed deposit work? If her mother transfers funds from her own account to my wifes savings account and then we create fixed deposits of the required amount , in that case will a gift deed letter from my mother in law suffice?

c) Do they ask for 6 months average balance on fixed deposits ?

d) Do we need to show all the funds in her name only or certain amount can be shown in my name as i am the co applicant?

e) Supposing we get the pr visa till how much time are we supposed to maintain the fixed deposits ?

Thanks in advance your help is much appreciated

 

[SMani]

http://www.fsw2014.info/proof-of-funds-for-the-application/

What can I declare as a Proof of Funds ?

Acceptable proof of funds are:

bank accounts in your name or the name of your accompanying spouse/common-law partner;
cash-able investments in your name or the name of your accompanying spouse/common-law partner;
cash-able fixed deposits in your name of the name of your accompanying spouse/common-law partner.

Not acceptable are:

bank accounts in someone else’s name;
bank accounts which are joint in your name and someone else (other than your accompanying spouse/common-law partner);
bank accounts in the name of your spouse who is not accompanying you to Canada ;
property valuations;
vehicle valuations;
jewellery valuations.
In short anything is that is volatile (bonds, shares) or that cannot be easily transferred (liquidated) cannot be used as proof of funds.

 

[StAnger]

I need to clear a doubt about POF , please help me understand it. Here is the situation :

a) My wife has close to Rs8 lakhs (16000 Canadian dollars) in her provident fund account will they accept provident fund account as POF ?

b) If not will fixed deposit work? If her mother transfers funds from her own account to my wifes savings account and then we create fixed deposits of the required amount , in that case will a gift deed letter from my mother in law suffice?

c) Do they ask for 6 months average balance on fixed deposits ?

d) Do we need to show all the funds in her name only or certain amount can be shown in my name as i am the co applicant?

e) Supposing we get the pr visa till how much time are we supposed to maintain the fixed deposits ?

Thanks in advance your help is much appreciated

A. If she is PA than she can show this as proof but ppf has limitation to the amount you can withdraw. Ask your bank to mention the withdrawal amount.
B. FD works but a gift deed would be required as people usually take loan from one bank and show it as FD in other. This can raise a red flag.
C. They will need the date when account was opened. 6 months statement not required for FD as the amounts are deposited one off and regular transactions are not done.
D. If you have joint account, yes you can.
E. Recommened until conformation of PR. But i think they do ask for POf during landing. I am not sure about this.

 

[mahfuzul80]

Hi,

If I have loan, say home loan, how CIC consider this case under POF. I have to pay back a certain amount for that home loan.

Please advise.

 

[Gabbana]

Hi Gabbana, If I were you:

- I willl get my spouse withdraw and transfer the money needed to my bank account.
- I will get a bank statement with my name from the bank with my current balance.
- I will get a declaration from my spouse and provide proof of the bank transfer.

Along with all these documents I will provide a Letter of Explanation then will submit it through CSE.

Thanks for the tip.

Well here's what I did to make it quick 'cause I'm running out of time as I'm so near the end of application process (based on trending):

1. The bank amended the account name from spouse only to both spouse or me. "OR" was inserted not "AND"
2. The bank account # stays the same including the transaction history.
3. The bank issued a bank certificate under both of our names.
4. Attached a notarized statement signed by both I and spouse, declaring that the funds are exclusively for POF under EE application (stating that it's irrevocable and final, etc.) and explained the amendment from single account to joint account.
5. Attached a notarized LOE from spouse dated before application submission the irrevocable transfer of funds anytime to me as the principal applicant only (to fully support the docs that were submitted prior to joint account amendment)
6. Sent a CSE with uploaded file.
7. Also emailed CPC Ottawa (the visa office where my application is being processed)
8. Got automatic response from both CSE and CPC Ottawa emails

Anyway, I got a legal advice from an immigration lawyer based in Canada in doing this, just to help me personally fight against my anxieties


Now, all I have to do is to hope for the best and the outcome will all be in my favor.

 

[Ichowdhury]

Well a small query here.
Can Indian Post Office NSC be shown as pof. Or do we need to liquidate them as well?
The NSCs are under joint account of mine and my spouse's name.

Looking forward to hear from experts.
TIA.