proof of funds

[dpaloma]

When I was building my Express Entry profile, there was a part where they asked how much money were you willing to bring to Canada. During that time I answered 15,000 CAD. Since then I was able to raise that amount. But due to unfortunate and unavoidable circumstances, I spent some of this money. However, my funds are still within the minimum required for 1 family member which is 12,300 CAD.

Will this affect me in some way when I land in Canada? My application has already been approved last August. I'm worried that the Border Officer will ask me about this. Thanks in advance for your replies.

 

[hamgha]

When I was building my Express Entry profile, there was a part where they asked how much money were you willing to bring to Canada. During that time I answered 15,000 CAD. Since then I was able to raise that amount. But due to unfortunate and unavoidable circumstances, I spent some of this money. However, my funds are still within the minimum required for 1 family member which is 12,300 CAD.

Will this affect me in some way when I land in Canada? My application has already been approved last August. I'm worried that the Border Officer will ask me about this. Thanks in advance for your replies.

I think you should be fine, you have the needed pof for 1 person

 

[dpaloma]

thanks hamgha. I got worried because I don't know how to replace what I have spent as I have left my job already in preparation for my immigration

 

[DelPiero07]

Perfectly fine.

 

[dpaloma]

Perfectly fine.

thanks DelPiero07. That's reassuring to know

 

[LEOVINCI]

Perfectly fine.

In my case I kept my POF in my local currency and as at after submission of eAPR it was above the threshold for my family size. Now I'm about to land in a couple of weeks after receiving COPR and visas but at current exchange rate the balance in my account (same amount as what I had as at eAPR submission) will not satisfy CIC requirement for my family size.

My fear is how to answer the VO on landing if they require evidence of POF. Your experience will do well to guide me in this dilemma. We have come too far to falter now

 

[dpaloma]

In my case I kept my POF in my local currency and as at after submission of eAPR it was above the threshold for my family size. Now I'm about to land in a couple of weeks after receiving COPR and visas but at current exchange rate the balance in my account (same amount as what I had as at eAPR submission) will not satisfy CIC requirement for my family size.

My fear is how to answer the VO on landing if they require evidence of POF. Your experience will do well to guide me in this dilemma. We have come too far to falter now

Thanks leovinci for also bringing out this issue of exchange rates. Part of the reason why i strive to exceed the minimum required amount is to also account for changes in exchange rates. It would really be best to at least provide for some room for allowance in terms of adjustments in currencies. In your case i really do hope the officer will not find issue with this. Safe travels to you and your family. Let me know how it went with your landing.

 

[LEOVINCI]

Thanks leovinci for also bringing out this issue of exchange rates. Part of the reason why i strive to exceed the minimum required amount is to also account for changes in exchange rates. It would really be best to at least provide for some room for allowance in terms of adjustments in currencies. In your case i really do hope the officer will not find issue with this. Safe travels to you and your family. Let me know how it went with your landing.

I did leave some allowances for little fluctuations but the kind difference now is very high that I'm falling quite short. My family size of four is also responsible for the steep shortfall. Trying to sell off some assets to make up but it's just not working out as I've not found any willing Buyer. I hope it all goes well in the end

 

[dpaloma]

I did leave some allowances for little fluctuations but the kind difference now is very high that I'm falling quite short. My family size of four is also responsible for the steep shortfall. Trying to sell off some assets to make up but it's just not working out as I've not found any willing Buyer. I hope it all goes well in the end

I hope so too. And i hope someone knowledgeable or has had the same experience will be able to give answers

 

[pitico55]

Hi Guys,
Sorry if this has been answered already.
Does the POF needs to indicate the equivalency in CAD $?

My accounts are in US $.

 

[dpaloma]

Hi Guys,
Sorry if this has been answered already.
Does the POF needs to indicate the equivalency in CAD $?

My accounts are in US $.

I think it is okay if it is in your local currency. When i submitted my bank certificate as proof of funds in my application it was in my local currency also