Proof of Funds for Canada Immigration | Bank Letter Format for Express Entry Canada PR

The Proof of Funds amounts required for the Express Entry program for Canada PR have recently been increased. Revised amounts: • Proof of Funds Amounts...
In this video, I have explained the Proof of Funds for Canada Immigration with a bank letter format that you can use for your Express Entry or PNP process to get your Canada PR.
I have also explained exactly how much money you have to show as proof of funds for your Canada PR, what’s accepted & what’s not accepted, and how you can disclose your proof of funds when you land in Canada.
If you want to move abroad, know more about the Express Entry, PNP, Pilot, or Student Visa programs for Canada, SUBSCRIBE to this channel NOW! All the information provided on this channel is completely FREE, and for the benefit of aspiring immigrants.
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#ProofofFundsforCanadaImmigration #BankLetterFormatforExpressEntry #CanadaPRProofofFunds

[@shreya027]

Hi Jason! I have received my ITA, but I do not have the requisite proof of funds from the time of my application till the ITA. I got the amount transferred from my fathered and entered into a gift deed. Will that suffice? Or can I do something else as well?

[@DreamCanada]

Hi Shreya, congratulations on your ITA! Although the gift deed will suffice to prove your 'source' of funds, make sure you also get supporting documents from your bank like the bank letter & 6 months statements. Make a mention of ALL of these details in your letter of explanation whilst uploading your documents. All the best for your application!

[@atpeacewitheasevlogs7544]

I love your channel! You're doing such a great work, Jason. Keep going. God bless you :)

[@DreamCanada]

Thank you so much for your kind feedback; have a great day!

[@neel.naik1989]

Nicely explained all the major points. U will definitely reach 2M or 5M Subs soon.

[@DreamCanada]

Really appreciate your kind words, Nilesh! Hope you have a great day ahead!

[@nnennachukwuemeka9931]

With this well detailed information, I didn't have anyother choice than to subscribe... thank you

[@DreamCanada]

Welcome to the channel Nnenna! Have a great day!

[@vyrvexiavyy6347]

Hi! Thank you for great content and information on PR and Express Entry! If you don't mind, I have one question about Proof of fund, what if you have a job already and transferring within the company, do we still need to provide proof of fund if we already have a job? On the official site, it says: You don’t need to show that you have enough money to support yourself and your family if: -you’re applying under the Canadian Experience Class or -you’re authorized to work in Canada and you have a valid job offer, even if you apply under the Federal Skilled Worker Program or the Federal Skilled Trades Program Does that applies to me if I work in Tech?

[@tanyalobo2063]

Thank you very much for sharing this information!

[@nickisix2006]

I enjoyed this video thoroughly. Glad to see what you look like. Cool Cat. Thanks for the informative video.

[@DreamCanada]

Thank you for the lovely feedback, and the cool nickname too, lol! Have a great day!

[@AkshayKumar-xo2sk]

Hi Jason,useful video. Do I have to get POF letter from all the banks that i have account with? If not, how do i proof that i don't have any outstanding liability?

[@ayselyucel]

Hi, thanks for the video. I have a question also. I get my paychecks from a bank different than the bank I’m saving my money. So I make frequent transfers between them. Would it be a problem? Should I switch to one bank only? Also let’s say I gave some money to friends in need as a loan, when they pay me back, how can I show that those money are valid? I mean I cannot show that all the money is actually my savings? Do you have any idea about this? Thanks in advance.

[@zaheduls]

Are the same amount funds mentioned in the website required for all PNP programs? In your previous videos you have mentioned that the applicant will have to show POF.

[@amitbhadu5599]

Hi Jason, Thanks a ton for taking the time and efforts to put all the information here in detailed and structured manner. It helped a lot. However, I have 2 questions related to POF, if you can help me: 1. I am applying under express entry for myself only. But I have parents and 2 siblings here in India who will not be going. So do I need POF for 1 person or 5 persons in my account? 2. If I am a co applicant in an education loan for my sibling and have another home loan going on, how would that impact my POF requirements? Thanks in advance.

[@abidaislam9038]

Hi, thank you so much for the informative videos. I have two questions. Can I use 6 month's bank statement for the current and average balance? My bank is being a bit difficult to use this format. I have government saving certificates. Can they be counted as funds?

[@Alam1x]

My previous employer from Dubai is not giving my 2 years experience certificate and it's been a year I cant file a a complaint too. in that case what should I do? I have all other docs including the Visa, offer letter, bank statement of salary deposit and the work contract & work permit cancellation paper. please assist.

[@vatsalshah220]

Hi. Brilliant video. I had a quick question. I received my LIC payout last month on my father’s account ( the LIC policy is under my name). He will be transferring the amount to my name which is approximately 5000 CAD. How do I show that this is a legit transaction as this would create an imbalance between the current balance and average balance over six months?

[@musttravel4518]

Hi, this is very useful information thanks for making such informative video. One query, what could be other proof of funds other than savings account? FD or PF Balance would it accepted?

[@salehquaiti2858]

Hello Jason thanks a lot for the videos. My question is can I use my company's account for proof of funds with a letter from the company stating that it is my account? Because it actually is but it's not under my name. Thanks

[@simpleajay]

Hi, This was very informative. Kindly advice if mutual funds and public provident fund held in India will be considered for POF during the process.

[@amrinderdhammu1542]

Hi Bro, I am applying and submitting from (IN Canada) Express Entry (CEC). On immigration website it states CEC applicant doesnt need to show any funds but in the checklist of my PR application it asks for bank funds. What should i do now? Will i have to write this letter for my both bank accounts? Or bank will do this for me? And if bank will print on paper and stamp it, will that be an official or not? Please feedback as soon as possible?

[@priteshpatel844]

If i have funds in different a/c, 1)in Saving a/c 2) in PF a/c 3) Stocks 4) FDs etc. how can I make single letter stating all my investment/saving stating the same. If i go to bank they will give me details of funds I hv in a/c I hv in their bank. Do I need to have separate balance certificate for each investment or Do i need to clarify in letter o explaination? Pl. clarify

[@rhiamaddona]

Hey Jason,I had a question on POF. The required POF for immigration is to sustain for how long. How many months should we consider while gathering the POF amount during the pandemic,as finding a job would be longer than expected. Please advise.

[@DreamCanada]

Hi Rhia, that would be totally subjective and depend on your individual preferences for your province, accommodation, etc. There's no way I would be able to tell you how long your POF amounts would sustain you. But if you need a ballpark figure for the expenses in a month, I've just made a detailed video on that, so you can get a rough idea on how long your POF amounts should last you after landing in Canada. Expenses per month link: kzbin.info/www/bejne/o56WqXWqa8iViJY

[@naqi-am-j7871]

Super great video...is this the same for a person living in Quebec and working from home trying to sponsor a spouse?

[@HardeepSingh-ih2sf]

Hi Jason, Just a quick question…I am applying for Canadian PR under CEC and at the same time I am applying for my wife’s PR (who is in India). Do I still need to show around 13500 CAD in her or my account? As she is student and her father has joint account with her. Can a financial support letter for their joint account from her father can be considered valid? Please let me know. Thanks!

[@frbh82]

Thank you very much. Hope the next video will be abo reference letter for employment proof

[@DreamCanada]

Hi Farah, my previous video was indeed about creating your reference letter in the CIC format. I've explained all the details that you need to include in the letter, along with an IRCC website comparison to make sure we didn't miss anything. Here's a link for your convenience; have a great day! kzbin.info/www/bejne/rHS7iHmKobefqas

[@muminkh4132]

Hi there I found your videos informative I have questions for example I get my salary in the form of cash I sent it to my home and I don’t have bank account what to do in this case ? I’m planning to come back to my country for vacation and open account and put money cuz I already have 13000 cad what can I do in case of 6 month statement?

[@vishnusuryapinnamaraju2292]

Regarding the Last 6 months average balance, Some people are saying that we need to show the average balance of each month separately for the last 6 months, Is it correct ? or do we need to show the consolidated average of last 6 months.

[@vinodm.u7911]

Sir, about the monthly average balance, I am planning to show my FD as PoF. I don't have any other money in my savings account. may be some where from 5000 to 10000 in my savings account. does that make a problem for me since $16570 is CAD is maintained as an FD ?

[@raman12345ful]

Hi Jason, thanks for the detail it is very informative. Can you pls tell me if I’ve a running loan then I must pay that loan in full before getting the POF letter from my bank ?

[@DreamCanada]

Hi Gurpreet, not necessarily. You can have your loan payment ongoing as scheduled, but just make sure to mention this loan in your bank letter, and also make sure you have enough POF amounts reflecting in the account at the time that you apply. All the best for your application; have a great day!

[@azharmannan6395]

Please suggest which bank is better to opt for joint account, my focus area is services of bank when we have to transfer these funds to Scotia/Canadian account plus which bank is better NRI services

[@kimmasimbe1991]

Hello.very informative...please help....when u have a an express entry account do u wait for a letter of invitation to upload your proof of funds onto your profile? Or do upload proof of funds along with your application and work experience?

[@ophiliagracias4897]

@DreamCanada, Hello Jason, Im watching all your videos regarding Canada imigration. It is really helpful. I have two questions. 1. If we have home loan in one bank, can we still show proof of balance in another bank and does it works ? 2. How we can apply and get valid job offer letter in advance before landing in Canada? Please please please reply 🙏

[@varun3411]

Hi Jason, I recevied my ITA, but eventhough I have a Canadian job they are still asking me for proof of fund. In this case what should I do. Please advise. Thanks in advance.

[@adedoyin4real446]

Hi Jason, I have money for my proof of fund (all mine, not borrowed) but full amount hasn't sat in my account for 6 months will this affect my application?. Basically i save money every month so my proof of fund money was completed december 2021. i have now been invited to apply (jan 2022), obviously the full money hasn't been 6months (only a month), will that affect my application?

[@nehapremchandsharma2767]

First of all thanks a lot for detailed video on POF. I just want to confirm if being a primary applicant of my EE profile i am having investment in my joint account with my parents in post office and banks. Whether i can show that funds in my EE profile along with my spouse. Even we recently opened joint account on our name but don't have much investment in our joint accounts.

[@sangeetharg680]

Hello, i had a querry related to proof of funds. Can fixed deposits be shown as proof of funds

[@Peppermint232]

Thank you so much for your video. Do I need to show proof of funds if I am currently employed in Canada and my job does not fall under NOC 0, A and B categories? Presently on a PGWP and applying for PR through the FSW route. Thank you!

[@DreamCanada]

NOC 0, A & B are compulsory for the express entry program, however you can still apply under PNP programs, some of which don't require POF amounts if you have a job offer.

[@yashijaiswal2225]

Hi there, I have been invited to apply for PR under CEC and yet they are asking for proof of funds in the document checklist. Should I obtain letter from bank and paystubs or should i mention a letter explaining that I am already working and have a valid job offer? Kindly advise.

[@ashrafzaman2344]

Hi again, I had asked u about sponsorship probability from my half brothers living in Canada. I will really appreciate if u cud enlighten me on this delicate issue.

[@sss29933]

Hai jaison,just to inform you that received notification of interest from ontario on 28 th october 2021..working in USA with bank account in bank of America...I can only take online statements but not any letter from the bank signed by managers like India..Having enough funds in US.dollers . Please confirm ....

[@HugMeAlmohadonesLactancia]

Thank you Jason👏 I would like to know if it would be valid a bank account in the currenci of my country (argentine pesos) with the ammount thay canada requires. Would IRCC accept it as a valid proof of founds if I have the sufficient money but in my national currency? Thanksss

[@DreamCanada]

Yes, make sure to keep a little extra to account for foreign exchange fluctuations

[@h2Vlogs1319]

Bro to apply for the work permit in canada.instead of proof of fund in the bank .can we make a new insurance worth that amount?Please do reply

[@bikazful]

Hi. Really appreciate your clear and concise explanations. However my bank here in the Netherlands is not willing to include my average balance for the last 6 months in the letter. I was therefore wondering if i can show my savings e-statement as PoF, which includes bank's logo, bank contact details and my personal details.

[@DreamCanada]

That's completely fine. Even Passbook entries/e-statements will suffice.

[@bikazful]

@@DreamCanada thanks for the quick response. Regarding the e-statement, does it require a stamp and signature?

[@KavZzzz]

Hi, Urgent suggestion required. I m showing pof in 2 parts. 1 gift deed of almost 90% from my father and 10 percent of it from an RD of mine. And in my bank letter details of each of my savings, current and rd is shown, but nothing like maturity date. But there is seperate RD reciept showing all details like maturity date and maturity amount. Is there any issue in showing maturity amount?? Plz plz suggest. If there is can I exclude the rd recipet and only give bank letter?

[@surajbarot36]

What average amount we would need to maintain since last 6 months ? Is it 12950 CAD or any amount will work and we just need to show 12950 cad when requesting bank as current balance? Could you please guide?

[@jagadeeshtelugu3801]

thanks a lot, really this is the very valuable information

[@DreamCanada]

You are most welcome

[@abinjose5981]

Hello. I have a full time noc B level job in Canada and am planning on applying for express entry under the Federal skilled program. CIC website says that a valid job offer needs a lmia done to be exempt from showing of POF. I haven't done any lmia. Does that mean I will have to show the funds? Thanks.

[@nishantsharma633]

Hi. I have the same case. I'm calling money from home and won't be mentioning 6 months. I think That should be ok

[@isiakaidris2163]

Hi Jason....thank you. Can one use an investment account as POF

[@ashrafzaman2344]

Hi, this is an extraordinary effort you are putting to help ppl. Cannot thank u enough. Its been extremely helpful. I have a question regarding sponsor. My half brothers r living in Canada for more than couple of decades in Kingston, Ontario. How can they help me in case of obtaining an express entry application? The difficulty level here is that we I was adopted by my step-father and my mother happens to be the second spouse of his; i.e., we dont hv common biological parents. Do I need some sort of affidavit to show our relationship? What I mean is, will this be of any help to me at all?

[@sarumadhavan7189]

Hello, should I want share the bank statement for every transaction made on past 6 months? If yes Should it be signed by bank manager?

[@Keval_Mehta]

Nice explanation sir, could you please guide on my query? Currently I am keeping around 10L INR in my bank account (currently in India) & now I got PPR, so how can i arrange this funds in terms of CAD? While moving, i need to carry few thousands CAD, can i withdraw such amount from above 10L? Also after landing, which POF is valid? INR 10L before withdrawing for CAD or after withdrawing such partial amount?

[@amankaur1652]

I want to know about pof. I don't have any funds in my account and will show 100% funds through gift deed from my father. Will it create any problems? What else i need to show apart from gift deed affidavit and my bank account details? Do I need to show bank statement of my father? TIA

[@AnujKumar-jw1bl]

Hi Sir, Anyone know, I have got my nomination and I also got my ITA last month on 27th of October. I am outlander (Nz). I have lmia base job and work permit as well but I don’t want to go to Canada until I get my residency. Anyone know in this case I still need to show proof of funds or now? Thanks in advance

[@wnandar]

I have received an invitation from SINP. I want to ask about proof of funds. Starting from 21 Jun, there is certain amount I have put in my savings. It will only 90 days on 19 Sep and I need to submit documents to SINP immigration by 19 Sep. I have paid the tuition fees for first term to a College in Canada since I was preparing to study before I got an invitation. Can I use this payment as proof of fund?

[@kandulabharath1422]

Thank you for the valuable information. I need your clarification in two queries: 1. Should we maintain the entire 13000 CAD before 6 months of filing ITA ? 2. I have personal loan in one bank, so this does not affect if I take a bank letter for proof of funds from another bank right?

[@DreamCanada]

Answers to your queries: 1. Ideally, 6 months before you submit your POF documents (After getting your ITA) 2. Personal loans don't affect your PR application in any way, just make sure you mention it in your bank letter if your POF funds are from the (loan) account.

[@xzy3473]

Sir what about home loan Mera home loan chal rha kya muje koi problem hoskti hai?

[@DreamCanada]

Loans have no negative impact on your PR application

[@AMOLPATIL-tz6qr]

What should be average balance in bank account and what should I do because I just transfer my funds a month ago

[@MusicMarinade]

Hello, I have received an ITA and contacted all our banks out of which 2 Private banks are refusing to follow a format we made, similar to the one you showed in the video. They are showing their own format which has a different format altogether where the bank does not take any liability on their part and they wont be able to give our format on their letterhead. Please suggest; help would be much appreciated

[@DreamCanada]

Hi, what liability are you talking about? The format does not have to be exactly the same (as explained in the video), as long as it contains the key points necessary.

[@shashankkataria6331]

Hello sir, I live in Winnipeg. I have 1 year of job experience with a noc B JOB in-demand job and currently working with the same employer. While creating my E.O.I a question came up:- [Have you or your spouse ever applied to any other Provincial Nominee Program (other than the MPNP) or a federal immigration program with an intended destination outside of Manitoba?].. Being a single applicant to my PNP I took some online transfers of funds from my cousin to maintain 2000$.. will that be ok? as I can support myself with the ongoing job but didn't maintain the funds in the account so will 2000$ be ok for now?.

[@ohappyday6299]

My father is applying for Canada Self Employed Prog. One consultant is saying that around ₹50,00,000 needs to be shown as Funds in Bank for 3 family members. Other consultant is saying that ₹10,90,980 needs to be shown for 3 family members(same prog). Which of them is true? Also, when do we have to show these funds? Please tell. 🙏

[@muhammadtahaakhtar3850]

Hi Jason, super informative content, keep going. I have one question though!, after you have shown your POF to the immigrant officer can you take some amount out immediately from bank account, will the immigrant officer check again after the POF is approved and you are allowed for immigration. Thanks

[@DreamCanada]

Its best if you keep these funds untouched. Statements are checked at the time of your profile submission as well as port of entry

[@muhammadtahaakhtar3850]

@@DreamCanada thank you so much

[@DreamCanada]

Always a pleasure; have a great day!

[@poojakhaitan3626]

Hello Jason, I am late to view your video, hope you still receive notification and are able to answer my queries. 1. Can fixed deposits be shown in proof of funds? They are accessible and can be liquidated anytime. Or the actual bank balance is what matters? 2. Is it mandatory to show bank balance of primary applicant? Will the bank balance/statement of dependant alone serve the purpose?

[@IshanSamarasinghe]

To answer your 2nd question, If your spouce is comming with you then his/her only account is accepted. But you have to proove that you can also access the money.

[@atesiszz4219]

Hello, are joint account with parents and siblings allowed? Not joint account with the spouse, but the spouse is coming together with primary applicant?

[@blueue9770]

Hi, does one need to show funds for their parents and siblings? Or does it only mean showing funds for spouse and children?

[@praty0]

Hi, thanks again a quick one, in case I have a home loan with a particular bank account can I use the same for proof of funds or do I need to show an alternative bank account for this sole purpose? Bless you!

[@AshishRawat-zl6te]

Hi, can you tell me how you submitted your proof of funds with home loan? Did u show ur home loan in your profile?

[@nazmulhasan1516]

Thanks. Really helpfull

[@jikkubijymathew6084]

Hello Jaison, is there an expiry date on the bank document collected as proof of funds evidence before you submit the e-APR. I have heard the bank documents should not be more than 2 weeks old from the date of applying the e-APR?

[@DreamCanada]

Nothing as such, just make sure your bank letter is fairly recent, most preferably after your ITA date

[@jikkubijymathew6084]

Thank you brother!!

[@DreamCanada]

Always a pleasure!

[@adejumokeoladipo438]

Thanks for this informative content, At what point is it advised that one moves the funds into the account one is going to use if pursuing provincial nomination, is it at the point of applying on express entry profile or when one gets the notification of interest? Thank You

[@DreamCanada]

Once you submit all your documents online.

[@riishisharma1382]

My Bank has given Average monthly balance for last 6 months in the letter but they are refusing to write about the credit cards, loan etc on the letter. Also there is no name or designation but its stamped do you think it will work?

[@loveleentandon1379]

Hi Jason, Currently I have enough funds in my two banks. One is saving and another if FD. I am planning to take a housing loan in my name. Will it impact my application. Or can i keep whole funds in one bank account and take loan from another bank account.

[@reshminair3354]

Hey ..WOULD APPRECIATE YOUR HELP! How old can the bank letter be? Can I make it now..I haven't gotten Ita yet but expecting in 2 weeks.. Thanks a ton in advance.

[@Moneyfreedom10]

Need help.. have got the ITA and but confused about the proof of fund. My Avg monthly bal is good for past 3 months and I have min required money from past 1 month in my Acc. But initially 3 month Avg bal was not that good. Should I submit ITA in next 10-15 days or should I wait ?

[@DreamCanada]

Hi Jatinder, these are fairly common occurrences; you just have to make sure your POF document currently reflects enough funds according to the size of your family. Immigration officers are well-versed with these situations, and they won't give you a hard time for this. Do make sure to provide sufficient supporting documents to ensure that your funds are from genuine sources. Your statements & credit source mentions in your LOE will suffice for this, no need to worry. All the best for your application; have a great day!

[@sami5625]

Hello, Thanks for the video and clear explanation. Kudos! coming to the question, I got an ITA and going to submit all the documents. 1) I have mentioned I have $20,000 cad dollars as proof of funds but I have it only for 4 months in my account now. Can I change the amount specified in the application now (I got the ITA) so that I can show $13000 for 6 months? 2)Also, I moved the cash from a checking account to a savings account in the same bank. so it shows an instant increment of cash in a savings account. Will it be a problem? Do I have to put both the statements with a letter of explanation? Looking forward to your reply. Thank you, Sami

[@DreamCanada]

Hi Sami, congratulations on your ITA. Here are answers to your queries: 1. After an ITA you can't change anything in your Express Entry profile; you'll just have to upload your bank letter mentioning the current funds you hold. 2. Any instant credits in accounts are fairly common; you just have to provide sufficient supporting documents to ensure that your funds are from genuine sources. Your statements & credit source mentions in your LOE will suffice for this, no need to worry. All the best for your application; have a great day!

[@pnikisha40]

Public provident fund account is accepted as proof of fund by irrcc or not.How long the money should be in account? I am going to apply as single applicant and m not married so is joint account with my mother or father is counted or not with authority to withdraw money as a single child of them ?

[@nydakhan4008]

Question please Can I put a close family friend in relatives in Canada? Is it ok or is my application going to be cancelled because its not relative but family friends. Are they going to verify?

[@jerinjoseph4364]

If a family relative in canada is transfering money to my bank account as a gift, what all documentation should i show?

[@jayachandranani551]

Hi Jason, I am looking forward to apply for SINP. I do have my WES report and Celpip exam with me right now. I do have small doubt that I will create the EOI profile SINP through OASIS and after that we need to upload all other documents right. In this process, do I need to maintain required money in my bank account before signing to SINP ? You said that there will be only 60 days to complete SINP. I am bit confused in this procedure. Simply saying- better time to maintain the money ? Before or after SINP profile creation ?

[@DreamCanada]

Better to maintain your funds before you receive an ITA.

[@sanjaysharma-te6zv]

Sir, I only have EPF to be shown as Proof of fund, will it be countable. If so, whether I have to submit this kind of letter from EPF Authorities?? Pl guide.

[@withsof]

Hii, I recently found this video. How much has to be the average balance of the bank account for each month. Also, is there a daily balance that i have to take into account? Thank ypu in advance

[@azharuddinahmed6158]

Hi Jason, nicely done. Kindly advise, currently there are two personal loans under my name so will it effect my PR application if we mention it on Bank Letter for POF or do we need to keep additional amount to cover personal loans? Also, would it be advisable to open a new saving account and keep the entire amount where no loans will be reflected in that Bank Letter. Thanks

[@DreamCanada]

There will be NO negative impact of any loans on your PR application. You can continue to pay them off as planned, just make sure the required POF amount reflects in your account at the time that you apply.

[@azharuddinahmed6158]

@@DreamCanada thanks a ton. God Bless .

[@DreamCanada]

Always a pleasure!

[@jikkubijymathew6084]

Hello Jaison, My father made a gift to meet my proof of funds requirement and I have received the bank document for the same i am in the process of collecting the gift deed and my notary is telling me that a notarised affidavit on stamp paper will be enough stating that my father made a gift (cheque no,bank account details) and it's irrevocable and there is no need to register a separate gift deed.

[@DreamCanada]

You'll need both the gift deed, as well as a notarized affidavit. The gift deed in fact holds more weight. You'll also need to mention this in your letter of explanation.

[@jikkubijymathew6084]

@@DreamCanadaThank you brother. My notary informed me that he will prepare a single notarised and stamped document called "Affidavit cum gift deed" with all the necessary details and signs from me, my father and a witness. Will that be enough?

[@aliyaabreu4629]

Hi Jason, thanks for your super informative video. I just wanted to know, my mom transferred the required funds to my bank account last week. (This is not a gift deed, just a regular transfer.) Would i have to wait six months now to enter the EE pool so that when they ask for my PoF and average bank balance for the last six months, it will be steady? I'm guessing if i get an ITA before that, then it will be rejected cz the bank would show that the money has not indeed been there for six months? Have a great week and thanks in advance.

[@DreamCanada]

Hi Aliya, this is a common occurrence, and your application won't be rejected based on just how recent your transaction was. It will, however, be rejected if you don't provide supporting documentation to prove this transaction was from a genuine source. A gift deed & affidavit are the supporting documents you'll need now, along with a mention of this in your letter of explanation (All of these to be submitted along with all your other documents after the ITA stage). All the best for your application; have a great day!

[@aliyaabreu4629]

@@DreamCanada thanks a lot!

[@DreamCanada]

Always glad to help!

[@lovablesandy]

Superb information given sir..👌🏻👌🏻😎👍

[@DreamCanada]

Always a pleasure!

[@nicoformoso]

Hi, Dream Canada Team, thanks for that great content! I'm from Argentina and I've recently applied for Express Entry skilled worker program. I would like to know if I could open an account in a bank of Canada and ask to my sister (she lives in BC) to transfer the money I need and use a letter from such bank as a proof of funds. Thanks in advance

[@farheenhaque6087]

@DreamCanada : thanks for such an insightful video. I have a few queries though , would be grateful if you could help me out here. I have multiple bank accounts out of which - a. Is my salary account against which my home loan and credit card bills are deducted and other accounts which hold bare minimum amount in INR to just keep th em active. If I take the money in the form of a gift deed and use this stagnant account to show proof of funds wil.l it be valid ? The bank manager is very cooperative and will give the documents as required. Also if I am doing so, should I still show 6 months history of this account. There have been only 2 transactions in the past 6 months in this account. Will it cause any problem? Also should this document disclose my credit card bills or home loan EMI deduction which are deducted from my salaried account which is in a different bank. ?

[@ayselyucel]

hi, I hope everything went well so far. could you find answers to your questions?

[@saurabhtiwari5179]

@DreamCanada - Could you please clarify what constitutes an acceptable source for proof of funds - Do FDs / Terms deposits get counted ?

[@DreamCanada]

Yes, they do.

[@aarthis888]

Hi, I just have one doubt, plz clarify, im a student in London, but I have account in India, and also I opened new acc here, so which account can I maintain and show as proof ?

[@jerinjoseph4364]

Hi, My wife is preparing to come to Canada. Can i show some of the funds in my account and other half in her account? Should i transfer the whole amount into my Canadian bank account? Which way should i go? Please advise.

[@Keval_Mehta]

Investments in Equity will be considered as available fund balance?

[@sunnythangaraj2890]

Hey Friend, Can you please let me know if PF and PPF counts as Proof of fund

[@prashanth2gs241]

Hi Sir I have bank loans to pay in my account So my account is acceptable for maintaining proof of fund or not

[@firasabuhamdan7920]

Thanks for the video, but CIC. ca does not mention the equivalent in Canadian dollars, are you sure of that? Many thanks

[@DreamCanada]

Although not necessary, it is just a professional courtesy that you're extending towards the immigration officials.

[@shwetagupta8531]

If one has the home loan , does it affect the proof of funds requirement and impact negatively with the decision of immigration officer.

[@DreamCanada]

Hi Shweta, as explained in the video, you have to make a mention of any outstanding loans or debts in your POF bank letter. IRCC officials demand this just to make sure that your actual POF amount is not from any loan or creditor. You don't need to worry; listing a home loan or any other such loan in your bank letter will not negatively impact your PR application in any way, as long as you have sufficient POF amounts to your name. All the best for your application; have a great day!

[@dheerajkamath8551]

Thanks a lot for providing valuable informations. Can u please make a detailed video about SINP skilled worker process which will be helpful. Thank u in advance🙂

[@DreamCanada]

Thank you for your kind words Dheeraj. I have already made a process video on SINP. Skilled workers can apply through the occupation in demand stream. Here's a link to the video; have a great day! kzbin.info/www/bejne/n3W7dZWVeJWtn7s

[@unique.promise]

Does this mean that with this letter; I do not need to add bank accounts statements?

[@varunsstudio6329]

I have a job offer from Alberta province (PNP) and I am currently working in another country. Do I need to submit proof of funds for PR application or job offer is enough? Thanks

[@swathisreeshan]

Hi Jason...i am regular viewer of your channel and the information you spread is extremely valuable. Thank you so much! I have a question wrt proof of funds for canada pr. If my spouse is not accompanying me to canada (i will be the only applicant), do i need to show proof of funds for 2 people or just me?

[@DreamCanada]

Hi Swathi, I have already answered your same comment which you posted in another video. You need to show funds for those not traveling you as well

[@swathisreeshan]

@@DreamCanada just read that..thanks Jason for the prompt response

[@felixamenu1994]

Hi please can treasure bill be used as Proof of funds..thanks

[@amethystdiaries]

Hi Jason i would like to ask,,after i sent my POF, receive ITA,and receive my COPR,can i withdraw the money from the account i use for my POF ,,so that i will have the money on hand in case i will be needing it after landing in canada?money will be exchange to CAD DOLLAR.

[@DreamCanada]

My advice would be let most of it remain in your bank account in your home country, and carry just some for travel. After opening your Canadian bank account on landing, don't transfer the entire amount, just what you need initially for rent, groceries, etc. Canadian banks would not offer you the same interest as your current bank.

[@nazmulhasan1516]

Again thanks

[@Aspiringinternationalstudent]

Hi Sir. Thank you for this informative video. I would like to clarify that if I have a job offer from any province in Canada, I don’t need to show a proof of funds? Like for example job offer from BC, proof of fund is not needed? Thank you.

[@DreamCanada]

Yes.

[@nilufarsayyed5860]

Hi, I have ongoing loans of around 8 lakhs. 1 personal, 1 educational and 2 consumer loans. But I have more than enough proof of funds in my bank account. The bank carrying proof of funds has only consumer loans. My question is do I need to state all banks while showing pof even when there are no funds in others? And also, if I state that I have loans in the bank letter and the loan amount gets deducted from pof bank, will it be a problem?

[@DreamCanada]

Hi Nilufar, as long as your POF amounts are not from any loans, and you have sufficient supporting documentation for it, your existing outstanding loans will not make any impact on your PR application.

[@funtym6083]

If I am applying from India and the funds are in a Chinese Bank Account (since my previous employment there) that has no presence in India. What am I supposed to do? 1. Should I get a statement from the Chinese Bank while applying from India? That would require my presence in China, but due to lockdown I am in India. 2. Should I transfer funds to Indian Bank Account? 3. Should I open an NRE Account with Indian Bank and the get a proof of funds? 4. Should I go to China on a tourist/business visa and apply from there.