I have a couple of questions on the disclosure of my bank details.
In my case, I have accounts in two different banks.
Bank 1 is my salary account bank, which I would be using for my application to Canada. Bank 1 does not have any loans.
Bank 2 has two loans; auto loan and a personal loan. I do not have any other transactions on Bank 2.
The monthly EMI for the loans in Bank 2 gets transferred from Bank 1.
Also, for the basic funds requirement, I would be having sufficient balance in Bank 1 as a gift from my parents.
In this scenario, I have a couple of questions,
Do I need to disclose the details of Bank 2? I am not using this bank for my application. Also, I would be paying off the personal loan till I get the PR from Canada somewhere next year. The auto loan won’t be paid off until then.
If I do not disclose the details of Bank 2, is there a chance that CIC might still ask for it, given that the statements of Bank 1 show the payments being made to Bank 2.
Any help is appreciated. I have been reading quite a bit about this and seems there is no clear answer.
Two questions, if you can help. I don’t believe this was answered above, hence the new post.
1/ Has anyone gotten letter of financial average balance from CapitalOne (originally ING)? I called them earlier today and they said they don’t have any process for that. I will try to go in to their brick/mortar location, but wanted to see if anyone has done this, and if so, is there anything specific (document / process name) I need to ask for.
2/ I had opened 2x new savings accounts few months back, and transferred money from another account (from CapitalOne mentioned above) to these two. The transfers were big (around 5K each). While I’m just planning to mention this in a supporting letter in a table with debts, savings, mortgage, etc., wondering if this would cause any issues - since the accounts were only opened couple of months back? Is this sufficient? Let me know on alternatives/ suggestions please
EDIT: If it helps, I have other accounts that can cover PoF for 2x people (me/spouse), including 401k, etc, but would be good to know if I can include these two.
Lastly - a dumb question.
How do you all combine documents when sending them over? I’m just creating a word doc with screenshots of statements etc and convert it to a PDF, but after a while, it becomes too big. Any alternatives that you all do - curious to know.
No idea. If they aren’t able to provide a letter, you can attach the monthly statements which you can download from your account online.
As long as your liquid funds can cover your expenses and I am assuming your Capital One account has been around for more than 6 months, you should be okay.
This is Ahmed, I reside in Saudi Arabia and I am a Pakistani National. i hope if you could answer my question about POF. I need a total of 24000 CAD for a family of 4.
I have three abnormal transactions in my account whereas the rest is fine, which is my monthly incoming salary. I have made three cash deposits to my bank account in Saudi Arabia which is in Saudi Riyals, with a approx value of 8700 CAD , 6800 CAD and 6900 CAD if i convert those amounts in CAD. The time difference between these three transactions is almost 25 days to a month.
The first and second transaction came from a Car which I sold in Pakistan and converted that money to Saudi riyals in Pakistan, and brought with me to Saudi Arabia and deposited to my account. I have the receipts of converting Pakistani currency to Saudi Riyals. I also have the official sale deed of the car.
The third payment came from the rental income of a house which I have in Pakistan. My tenant resides here in Saudi Arabia and his family resides in my house in Pakistan. My condition was to get one full year rental upfront. Which he gave me in the shape of cash in Saudi currency and we have the rental agreement, but that rental agreement is in the shape of Pakistani legal document and we did that when I was in Pakistan a couple of months back.
Would these documents be enough to show the authenticity of these cash payments? Is there anything i could do more to make sure that I won’t be asked for any further clarification on this?
I hope if someone could answer. I couldn’t find any relevant information on the internet.
If you have proof of these transactions (in English or French,or can get them easily translated), I would that. For the transfers, as long as they’re your money and not borrowed from someone, there should be no issue.
Regarding the cash transaction, maybe provide explanation in letter of explanation as others suggested.
Hello everyone! I’m new here so I apologize if my questions have already been answered in previous posts.
I’ve heard somewhere that if you have a lump sum deposited into your account, it should have at least 3 months maturity in your account to deem it acceptable that it is your money. Is this true?
And how much would a ‘huge amount of money’ deposited would be considered a red flag?
If my 6-month average is below the 12700 required but the total balance does, will that cause any problems?
In the application, if I stated I would bring 12800 CAD, and my bank balance is more than that, would it be okay/better?
Majority of the money in my account was given by my parents. Can I claim in a gift deed that since I was a child, this money was intended/to be given when the need arises?
I am not an Australian permanent resident and I have sufficient funds (401K/ provident fund) in my Australian super account for proof of funds purposes for canadian PR.
Can i use my superfund balance as proof of funds for canadian pr process? Would really appreciate some help. Thank you
Really need help asap.
My parents have deposited the cash(in lumpsum amounts) in my account as I am the primary applicant. So, I was thinking that cash might raise the red flags so, if I can ask my parents to transfer the amount in my husband’s account by 2 cheques as the gift deed since he is dependent on me. But the consultant is reluctant and advising that since he is the secondary candidate, I can’t show pof in his accounts. But I have read around various forums that it is fine if he is an accompanying partner and he is willing to give NOC for the same.
Hi @avj
Could you please advise regarding the proof of funds
I have US A/c with close to 7k CAD. But the balance over the past few months has been less (avg ~2.6k CAD) but it does show steady inflow of payroll along with some money i got from india as an emergency for some other purposes.
I also have a normal bank a/c in india under my name and a ppf account
Can i just show the US a/c and the normal a/c in my name (total combined current balance for both is more than 13K CAD, which is what i require)
I have more than sufficient in PPF, but not sure if i can show that alone.
Could you please suggest what to do
Any liquid funds in any of your banks can be shown, as long as you can get the proper documentation (statements at the very least, letter from the bank etc), if possible also add conversion rate of the day in the cover letter. If that amounts to more than 13k it should be fine, but you can throw in the PPF as additional.
Hi
Please Help
Have received below message from CIC
“You have included bank statements/documentation bearing your
spouse/common-law partner’s name. Please provide a letter from your
spouse/common-law partner to specify that you have full access to this money for the
purpose of settling in Canada”
Me and my spouse are applying together but still, the above message is sent by the CIC. So now what do I need to submit to CIC as me being the primary applicant and my spouse being dependant. We have shown a total of 9Lakh funds out of which I have shown INR 6Lakh FD and my spouse has shown INR 3L FD. Please revert
Do I need to settle my loan account before submitting the proof of funds for Canadian immigration express entry? Currently I have an education loan which I took for my masters and I have been repaying since I got a job here in US. Should I mention about that loan on the bank letter? Please help.