Requirements to proof of funds

[MariaMaria]

Hi everyone,
Please help to understand.

To prove funds I need to provide a bank statement specifying the average amount of money for each month during a 6-month period.

My question is, do I need to show that I have been having more than $12,669 for the whole 6-month period?
Or I can show that at the end of the period (right before I submit all the documents) my savings have totalled the required amount?


Thank you,
Maria

 

[21Goose]

Hi everyone,
Please help to understand.

To prove funds I need to provide a bank statement specifying the average amount of money for each month during a 6-month period.

My question is, do I need to show that I have been having more than $12,669 for the whole 6-month period?
Or I can show that at the end of the period (right before I submit all the documents) my savings have totalled the required amount?


Thank you,
Maria

In general, you have to show an average balance that is over the minimum. So if you had $0 in your account for 5 months and then suddenly put in a large sum of money in the last month, it will raise questions and may cause a denial.

If you dropped below the minimum by a small amount in month 3, it shouldn't cause an issue.

The office wants to see whether you really have the money - sometimes people dump in a lot of borrowed money to show proof of funds and then come to Canada without the money.

Here is more information - https://www.canada.ca/en/immigratio...nada/express-entry/documents/proof-funds.html

 

[Mila_S]

Hello everyone
We have a financial problem in Lebanon now and the government is applying Capital Control.
My AOR is september 23, and i was wondering if i can take the money of PoF from the bank and keep it at home in case the banks went bankrupt. I don't want to lose my money but I'm afraid IRCC might ask for an updated bank statement later.
Anyone had to deal with such problem? Would IRCC accept any other proof in that case? Thank you

 

[Abed.d]

Hello everyone
We have a financial problem in Lebanon now and the government is applying Capital Control.
My AOR is september 23, and i was wondering if i can take the money of PoF from the bank and keep it at home in case the banks went bankrupt. I don't want to lose my money but I'm afraid IRCC might ask for an updated bank statement later.
Anyone had to deal with such problem? Would IRCC accept any other proof in that case? Thank you

Hi,

I’m from Lebanon too and I was wondering what did you end up doing.

thanks

 

[Mila_S]

Hi,

I’m from Lebanon too and I was wondering what did you end up doing.

thanks

Hey, nothing money's still in the bank

 

[Nadim.abdelnour]

What if my account was in Lebanese pounds, will I still be able to submit my proof of funds in LBP? In case yes, what will be the official conversion rate to USD? 1515 LL ?

Thank you

 

[Mila_S]

What if my account was in Lebanese pounds, will I still be able to submit my proof of funds in LBP? In case yes, what will be the official conversion rate to USD? 1515 LL ?

Thank you

Yes if the bank accepts to mention the equivale on statement

 

[Nadim.abdelnour]

Any idea how to

Hey, nothing money's still in the bank

Still keeping the money in the bank? and any plans for how to withdraw the money or how to use it in Canada in the future?

 

[rzl183]

is bank proof for a work permit application?