What to do if average balance of 6 months is less than the required PoF

[letsgo_canada]

Hi All,

Can you please clarify on the below points regarding PoF:

1. What should be done if the monthly average balance for the 6 months before filing EE profile is less than the required amount of 15000 CAD for a married couple, even though the total balance in the account clears the cutoff before the one month before the filing date.
[Note: This considers the fact that there is no sudden increase in amount of the account. And the money is accumulated only through salary over the months]

2. Do we need to submit all the transactions for the 6 months before EE?

3. Is it OK if the majority amount lies in the spouse's account? [Note: Spouse will also be coming to Canada].

Any help is highly appreciated.

Thanks

 

[jaffaral]

1) it should be fine

2) a bank statement normally show all transactions

3) as long as she is a accompanying dependent u r ok

 

[letsgo_canada]

1) it should be fine

2) a bank statement normally show all transactions

3) as long as she is a accompanying dependent u r ok

Thank you so much for your kind response.

 

[sam3218]

1) it should be fine

2) a bank statement normally show all transactions

3) as long as she is a accompanying dependent u r ok

On a similar note, were you able to obtain liability letter from your bank in UAE? or how did you disclose your liabilities if you did? Especially credit card

 

[jaffaral]

On a similar note, were you able to obtain liability letter from your bank in UAE? or how did you disclose your liabilities if you did? Especially credit card

I got my liability letter from my bank ADCB. They told me it can take 7 business days to get one but I requested them to make it urgent as my ielts expiry date was approaching in next 8-9 days. So they said they will c and thankfully processed in one day. I paid 65 aed for that

It states that all kind of loans that ADCB offer plus credit card limit and in front of each of them it says if I have any loan which I don’t. I would recommend to tell your bank to make “no liability” letter instead of “liability” letter. In my case I got liability letter and I hope it will get thru.

On a side note, the person at bank told me that this is the first time he is having some one asking for this and usually people don’t ask for that and they get thru

 

[sam3218]

I got my liability letter from my bank ADCB. They told me it can take 7 business days to get one but I requested them to make it urgent as my ielts expiry date was approaching in next 8-9 days. So they said they will c and thankfully processed in one day. I paid 65 aed for that

It states that all kind of loans that ADCB offer plus credit card limit and in front of each of them it says if I have any loan which I don’t. I would recommend to tell your bank to make “no liability” letter instead of “liability” letter. In my case I got liability letter and I hope it will get thru.

On a side note, the person at bank told me that this is the first time he is having some one asking for this and usually people don’t ask for that and they get thru

I asked my bank the same but they told me it would take 2 weeks so I didn't obtain that. Hopefully won't be a problem

 

[jaffaral]

It’s ok u can always raise a CSE and submit to then if u r having nightmares of not submitting otherwise don’t do it and if Cic will find anything objectionable in your file they may ask u later

 

[PrinceKumar]

@jaffaral I'm in the same boat. Have account with ADCB but only got a letter showing my current balance. Though I've already submitted my ITA but still would be thankful if you can tell from your experience:

Should I raise a CSE to attach my Credit Card Statement and No Liability Letter?

PS: I received AOR last week only.

 

[sam3218]

@jaffaral I'm in the same boat. Have account with ADCB but only got a letter showing my current balance. Though I've already submitted my ITA but still would be thankful if you can tell from your experience:

Should I raise a CSE to attach my Credit Card Statement and No Liability Letter?

PS: I received AOR last week only.

No need to get no liability letter. My case worked out fine. But then as the other poster said if you're having nightmares about it, you can upload them though not necessary

 

[jaffaral]

Well No need for credit card statement as I didn’t attach any and I passed A11.2. As for the no liability letter bank rep told me no one has ever asked him but I still attached

 

[hbrsid86]

@jaffaral Hey man, hope you don't mind helping clarify something since I have an account with ADCB as well. I have a couple of questions:

1. Should I ask the bank for a stamped 6 months bank statement and a no liabilities letter? Did you have to visit their branch or was it possible to request both things on the phone?

2. Back in Sept you said you hoped they won't have an issue with your liabilities letter, so did it work? As in did it fulfil all the other requirements or will I have to ask the bank to mention something specifically?

3. A similar point to OP's original post, if I have been able to maintain the balance for 4 months before submitting the profile, will that work? Because let's say I get the ITA soon after submitting the EE profile, I can get the bank statement just before the 60 days are up since that will include the 2 additional months (that passed after the ITA). Or should I wait to maintain the balance for 2 more months first and only then submit the profile?

Thanks!

 

[jaffaral]

@jaffaral Hey man, hope you don't mind helping clarify something since I have an account with ADCB as well. I have a couple of questions:

1. Should I ask the bank for a stamped 6 months bank statement and a no liabilities letter? Did you have to visit their branch or was it possible to request both things on the phone?

2. Back in Sept you said you hoped they won't have an issue with your liabilities letter, so did it work? As in did it fulfil all the other requirements or will I have to ask the bank to mention something specifically?

3. A similar point to OP's original post, if I have been able to maintain the balance for 4 months before submitting the profile, will that work? Because let's say I get the ITA soon after submitting the EE profile, I can get the bank statement just before the 60 days are up since that will include the 2 additional months (that passed after the ITA). Or should I wait to maintain the balance for 2 more months first and only then submit the profile?

Thanks!

1) Yes ask for no liability and 6 months stamped statements. U will have to pay for all of those. Visit the branch any can do

2) just ask bank for no liability letter and not the liability one. Even though it worked out for me but I think no liability letter is more fitting

3) my first 4 months amount was less then the required and I was managed to amass more then the required amount in last two months and agent in my gcms notes has mentioned I meet funds requirements. Hope that answers

 

[hbrsid86]

1) Yes ask for no liability and 6 months stamped statements. U will have to pay for all of those. Visit the branch any can do

2) just ask bank for no liability letter and not the liability one. Even though it worked out for me but I think no liability letter is more fitting

3) my first 4 months amount was less then the required and I was managed to amass more then the required amount in last two months and agent in my gcms notes has mentioned I meet funds requirements. Hope that answers

That's a huge help, thank you very much!

 

[sweethoney]

1) it should be fine

2) a bank statement normally show all transactions

3) as long as she is a accompanying dependent u r ok

what will happens if there is no transactions from past 6 months?

 

[jaffaral]

what will happens if there is no transactions from past 6 months?

It’s ok . People do have savings account with no transactions