Settlement Funds

[Hchadda]

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

For proof, you must get official letters from any banks or financial institutions where you’re keeping money.

Letter(s) must

• be printed on the financial institution’s letterhead
• include their contact information (address, telephone number and email address)
• include your name
• list outstanding debts such as credit card debts and loans
• include, for each current bank and investment account, the
  • account numbers
  • date each account was opened
  • current balance of each account
  • average balance for the past 6 months

Does this apply during submission of doc's during ITA only or do we need to show the avg 6mth bal upon landing as well?

I had the funds for over 6mths at the time of ITA doc's submission but that was back in Feb 2020. Right now, due to covid and all, business has been terrible and i have literally $0.00 in my bank account. I'll be able to raise the amount soon though, 2-3 mths at most. At the time of landing (if/when that letter comes), i'll have the amount on hand but NOT the 6mth avg bal though.

Is this an issue?

 

[scylla]

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

For proof, you must get official letters from any banks or financial institutions where you’re keeping money.

Letter(s) must

• be printed on the financial institution’s letterhead
• include their contact information (address, telephone number and email address)
• include your name
• list outstanding debts such as credit card debts and loans
• include, for each current bank and investment account, the
  • account numbers
  • date each account was opened
  • current balance of each account
  • average balance for the past 6 months

Does this apply during submission of doc's during ITA only or do we need to show the avg 6mth bal upon landing as well?

I had the funds for over 6mths at the time of ITA doc's submission but that was back in Feb 2020. Right now, due to covid and all, business has been terrible and i have literally $0.00 in my bank account. I'll be able to raise the amount soon though, 2-3 mths at most. At the time of landing (if/when that letter comes), i'll have the amount on hand but NOT the 6mth avg bal though.

Is this an issue?

You don't need to show the average 6 month balance upon landing.

The only risk you're running right now is if your application is still being processed and IRCC asks you for updated evidence that you have POF. If your application has already been approved and/or your COPR issued, then no issues.

 

[Hchadda]

You don't need to show the average 6 month balance upon landing.

The only risk you're running right now is if your application is still being processed and IRCC asks you for updated evidence that you have POF. If your application has already been approved and/or your COPR issued, then no issues.

My GCMS notes state my application as being approved but the CoPR has not been issued yet though. So hopefully it'll be ok.

Thanks for the reply. Appreciate it!!