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
Жыл бұрын
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
2 жыл бұрын
I love your channel! You're doing such a great work, Jason. Keep going. God bless you :)
@DreamCanada
2 жыл бұрын
Thank you so much for your kind feedback; have a great day!
@kandulabharath1422
3 жыл бұрын
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
3 жыл бұрын
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
3 жыл бұрын
Sir what about home loan Mera home loan chal rha kya muje koi problem hoskti hai?
@DreamCanada
3 жыл бұрын
Loans have no negative impact on your PR application
@swathisreeshan
2 жыл бұрын
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
2 жыл бұрын
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
2 жыл бұрын
@@DreamCanada just read that..thanks Jason for the prompt response
@sami5625
3 жыл бұрын
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
3 жыл бұрын
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!
@Gurpreetrekhi01
3 жыл бұрын
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
3 жыл бұрын
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!
@nnennachukwuemeka9931
3 жыл бұрын
With this well detailed information, I didn't have anyother choice than to subscribe... thank you
@DreamCanada
3 жыл бұрын
Welcome to the channel Nnenna! Have a great day!
@muhammadtahaakhtar3850
3 жыл бұрын
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
3 жыл бұрын
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
3 жыл бұрын
@@DreamCanada thank you so much
@DreamCanada
3 жыл бұрын
Always a pleasure; have a great day!
@musttravel4518
2 жыл бұрын
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?
@tanyalobo2063
Жыл бұрын
Thank you very much for sharing this information!
@neel.naik1989
4 жыл бұрын
Nicely explained all the major points. U will definitely reach 2M or 5M Subs soon.
@DreamCanada
4 жыл бұрын
Really appreciate your kind words, Nilesh! Hope you have a great day ahead!
@zaheduls
2 жыл бұрын
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.
@vatsalshah220
2 жыл бұрын
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?
@withsof
5 ай бұрын
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
@poojakhaitan3626
3 жыл бұрын
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
3 жыл бұрын
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.
@abidaislam9038
2 жыл бұрын
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?
@nickisix2006
4 жыл бұрын
I enjoyed this video thoroughly. Glad to see what you look like. Cool Cat. Thanks for the informative video.
@DreamCanada
4 жыл бұрын
Thank you for the lovely feedback, and the cool nickname too, lol! Have a great day!
@vyrvexiavyy6347
3 жыл бұрын
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?
@azharuddinahmed6158
3 жыл бұрын
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
3 жыл бұрын
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
3 жыл бұрын
@@DreamCanada thanks a ton. God Bless .
@DreamCanada
3 жыл бұрын
Always a pleasure!
@simpleajay
2 жыл бұрын
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.
@aliyaabreu4629
3 жыл бұрын
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
3 жыл бұрын
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
3 жыл бұрын
@@DreamCanada thanks a lot!
@DreamCanada
3 жыл бұрын
Always glad to help!
@azharmannan6395
3 жыл бұрын
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
@amitbhadu5599
2 жыл бұрын
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.
@muditgrwl1
2 жыл бұрын
Hi Sir I hope everything is going well and you're in the best of spirits. I have been following your work for my reference for my EE PROFILE and it's very thorough and impressive. I had three questions regarding PoF regarding FSW program - 1. Would a joint account with me as the primary holder and my mother as the second signee work? 2. Is only hard cash required or assets such as Fixed Deposits/Mutual Funds work as well? 3. Funds would exist in the form of INR in my current savings account. The letter would contain this amount converted to CAD or do we need to own the funds in CAD? Would look forward to hear from you! Much love from India! Thanks!
@DreamCanada
2 жыл бұрын
Hi Mudit, here are answers to your queries: 1. Yes, it would. 2. These work as well- Basically anything that can be easily liquidated. 3. You can mention the amount in INR, and if possible, add the CAD conversion at the current date in brackets.
@muditgrwl1
2 жыл бұрын
@@DreamCanada Thank you so much for your response.. This is much appreciated. Will proceed on these lines.
@DreamCanada
2 жыл бұрын
Always a pleasure Mudit; have a great day!
@subuddhidevapriya3895
2 жыл бұрын
Hi Dream Canada, Thank you for the very informative video. I am planning to obtain the funds by selling my car and some fixed assets. At such instances do I need to maintain the average balance for six months or can I sell my assets at the time of receiving ITA, and disclose that along with the deed of sale?
@DreamCanada
2 жыл бұрын
Ideally you should maintain your funds when you make your profile. For any recent transfers, you'll need sufficient supporting documentation; do make a note of this in your letter of explanation as well.
@AkshayKumar-xo2sk
3 жыл бұрын
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?
@naqi-am-j7871
3 жыл бұрын
Super great video...is this the same for a person living in Quebec and working from home trying to sponsor a spouse?
@frbh82
4 жыл бұрын
Thank you very much. Hope the next video will be abo reference letter for employment proof
@DreamCanada
4 жыл бұрын
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! kzitem.info/news/bejne/13mOvXqKpYSdpn4
@adejumokeoladipo438
3 жыл бұрын
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
3 жыл бұрын
Once you submit all your documents online.
@varun3411
5 ай бұрын
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.
@ayselyucel
3 жыл бұрын
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.
@salehquaiti2858
2 жыл бұрын
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
@ophiliagracias4897
2 жыл бұрын
@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 🙏
@loveleentandon1379
Жыл бұрын
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.
@HugMeAlmohadonesLactancia
3 жыл бұрын
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
3 жыл бұрын
Yes, make sure to keep a little extra to account for foreign exchange fluctuations
@jayachandranani551
2 жыл бұрын
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
2 жыл бұрын
Better to maintain your funds before you receive an ITA.
@blueue9770
Жыл бұрын
Hi, does one need to show funds for their parents and siblings? Or does it only mean showing funds for spouse and children?
@priteshpatel844
3 жыл бұрын
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
@pnikisha40
3 жыл бұрын
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 ?
@reshminair3354
2 жыл бұрын
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.
@Alam1x
3 жыл бұрын
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.
@Rahul-ch6sk
4 жыл бұрын
Thank you sir for this video... Sir I have a doubt - Am having more than one bank account. In the first account I took loan. Second account is my salary account .Do I have to mention my loan account?? Since I am planning to give my salary account as my Pof.
@DreamCanada
4 жыл бұрын
Hi Rahul, no need to worry. You have to mention ALL your bank accounts that you hold under the same bank in one single bank letter. As explained in the video that letter must include details about your current & average balance, and any loans or outstanding debts for ALL bank accounts. You don't need to worry, there won't be any negative impact on your PR application with the mention of any loans in your document. You just have to ensure that your current balance has enough POF amounts specified based on the size of your family as explained in the video. All the best for your application; have a great day!
@Rahul-ch6sk
4 жыл бұрын
@Dream Canada thanks for the reply sir. Sir actually my banks are different.i understood that we have to mention all the accounts like loan, current, savings under one particular bank.What about different banks?like am having loan in my sbi account whereas salary is in my icici
@shijual8753
2 жыл бұрын
Hi, Can we use the PF statement partially to show the proof of funds, and the rest using the savings account balance?
@DreamCanada
2 жыл бұрын
Your savings balance is part of your POF!
@Aspiringinternationalstudent
2 жыл бұрын
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
2 жыл бұрын
Yes.
@rakshitachuri268
4 жыл бұрын
hey jason...proper explanation..i just one question..for two people like me and my husband both required around $16000 canadian dollar..so in our joint account we should kept half half amount in each account..
@DreamCanada
4 жыл бұрын
Hi Rakshita, if you have a joint account, the whole amount can be counted together collectively. No division is required.
@rakshitachuri268
4 жыл бұрын
@@DreamCanada ok can we take gift deed from friend...
@adedoyin4real446
2 жыл бұрын
Hi Jason, can I use my savings account to show proof of fund or does it have to be my current account?. if current account is only allowed, i'm i allowed to transfer the money from my savings to my current account?.
@DreamCanada
2 жыл бұрын
You can use your savings account
@praty0
3 жыл бұрын
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
6 ай бұрын
Hi, can you tell me how you submitted your proof of funds with home loan? Did u show ur home loan in your profile?
@AshishRawat-zl6te
6 ай бұрын
Hi Jason, I have one question - I have two accounts - Account 1 is my salary account and all my fixed deposits are done on this account. However, I have an account 2 on which I have a home loan running. I'm planning to submit the bank letter of POF for my account 1. Do I need to submit the bank letter for my account 2 as well? If yes, what documents I need to submit for my home loan on this account?
@DreamCanada
6 ай бұрын
One account will suffice as long as you have the required funds. Factor in foreign exchange fluctuation as well. All the best!
@Keval_Mehta
2 жыл бұрын
Investments in Equity will be considered as available fund balance?
@kimmasimbe1991
2 жыл бұрын
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?
@chidozieugwu-oju7069
2 ай бұрын
You have to wait for the letter of invitation before uploading your proof of funds.
@Peppermint232
3 жыл бұрын
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
3 жыл бұрын
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.
@nazmulhasan1516
2 жыл бұрын
Thanks. Really helpfull
@Keval_Mehta
Жыл бұрын
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?
@saurabhtiwari5179
2 жыл бұрын
@DreamCanada - Could you please clarify what constitutes an acceptable source for proof of funds - Do FDs / Terms deposits get counted ?
@DreamCanada
2 жыл бұрын
Yes, they do.
@MusicMarinade
4 жыл бұрын
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
4 жыл бұрын
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.
@amethystdiaries
3 жыл бұрын
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
3 жыл бұрын
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.
@jikkubijymathew6084
3 жыл бұрын
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
3 жыл бұрын
Nothing as such, just make sure your bank letter is fairly recent, most preferably after your ITA date
@jikkubijymathew6084
3 жыл бұрын
Thank you brother!!
@DreamCanada
3 жыл бұрын
Always a pleasure!
@chaudharywaqasahmed4561
3 жыл бұрын
Hello sir, you are describing each and everything very well and i feel pleasure to watch and listen your instructions very thoroughly. However, i listen your instructions in this video of POF but i have a question which i would like to ask you that either me and my spouse can together arrange 16135 CAD dollar in our joint account before submitting an express entry profile or when receive an ITA as you showed format of POF letter which stating that xyz.... account balance is maintaining by this account holder from last six month. In this scenario, suppose i arrange required fund before 2 3 months of ITA then it will affect my process or not.
@DreamCanada
3 жыл бұрын
It won't affect your application in any way. Just make sure that your sources are genuine and also mention this in your letter of explanation
@chaudharywaqasahmed4561
3 жыл бұрын
@@DreamCanada thanks alot. Can you guide me regarding which option i should opted for immigration in context of my and my spouse qualification and experience which i can tell you on your email address. Hence, If you dont mind or willing to guide me kindly send me your email address.
@abdul754
Жыл бұрын
Thanks a lot bro,i have a job offer from a company in Canada so that means i don't need proof of funds right?
@DreamCanada
Жыл бұрын
No.
@Moneyyfreedom
3 жыл бұрын
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
3 жыл бұрын
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!
@nehapremchandsharma2767
3 жыл бұрын
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.
@MsKerberos666
3 жыл бұрын
Nice video! Dream Canada, I have multiple bank accounts held at multiple banks. If the entire required amount for PR is inside one account only, do I have to get bank letters/proof of funds for all my bank accounts or just the one with the required amount?
@DreamCanada
3 жыл бұрын
Only the POF specific account
@MsKerberos666
3 жыл бұрын
@@DreamCanada Thanks!
@DreamCanada
3 жыл бұрын
Always a pleasure; have a great day!
@DreamCanada
2 жыл бұрын
Mary, you can list your other debts. They won't have any negative impact on your application as long as your proof of funds amounts are not obtained through them. All the best!
@abinjose5981
3 жыл бұрын
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
3 жыл бұрын
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
@smomzly
9 ай бұрын
Hi There. Can I use my pension fund statement as proof of funds? I mean its an investment account and I can get the financial institution to state that I can withdraw the full amount at any point in time????
@DreamCanada
9 ай бұрын
As mentioned to you via email, as long as you can prove that the funds are readily accessible to you when needed, it will suffice.
@smomzly
9 ай бұрын
@@DreamCanada thank you for your response and assistance
@yashijaiswal2225
2 жыл бұрын
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.
@nabeelpearl1619
Жыл бұрын
Hi Friend, Could you please explain how to show fixed deposits in the POF document?
@DreamCanada
Жыл бұрын
This can be covered in your bank letter.
@kikizheng2421
3 жыл бұрын
Thank you such much for your sharing. I still have some question, 1. Does it mean the account is open within 6 month can not use as POF? (I just open my bank account for EE) 2. Can I use the account balance of my common-law partner?
@DreamCanada
3 жыл бұрын
1. You'll need genuine supporting documentation for recent transfers. 2. Yes, you'll have to prove your access to the account.
@kikizheng2421
3 жыл бұрын
@@DreamCanada Can credit card payment or direct deposit on bank statement work as supporting documentations? Thank you so much!
@vinodm.u7911
2 жыл бұрын
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 ?
@jerinjoseph4364
2 жыл бұрын
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.
@amankaur1652
3 жыл бұрын
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
@ashrafzaman2344
3 жыл бұрын
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?
@atesiszz4219
3 жыл бұрын
Hello, are joint account with parents and siblings allowed? Not joint account with the spouse, but the spouse is coming together with primary applicant?
@adedoyin4real446
2 жыл бұрын
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?
@Keval_Mehta
2 жыл бұрын
Hello sir, thank you so much for such a wonderful info, please let me know can I arrange the said required funds from my brother/dad for a said period of time to satisfy this POF requirement?
@DreamCanada
2 жыл бұрын
Yes, you'll need a gift deed and affidavit as supporting documentation
@ohappyday6299
3 жыл бұрын
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. 🙏
@namitanandal1627
4 күн бұрын
So, can i skip the 6 months bank statement, as it is not mandatory?
@tasneemdawood30
3 жыл бұрын
Hello. If my husband is the primary applicant and the savings and proof of funds is in my account. Does the bank letter need to mention it that ne can access my account or do i need to write a letter of explanation or noc Or both? Thanks.
@DreamCanada
3 жыл бұрын
Hi Tasneem, the bank letter does not have to mention access details, just that he is the joint account holder along with you. You can provide further information in your letter of explanation, and to the border official when you land in Canada.
@tasneemdawood30
3 жыл бұрын
@@DreamCanada it is my salary not a joint account and do i need to show all this at the time of making the express entry profile
@DreamCanada
3 жыл бұрын
Convert it into a joint account with your husband, you'll need to show that he has access to the account
@tasneemdawood30
3 жыл бұрын
@@DreamCanada thanks alot for your reply. Really appreciate it. It will be hard to convert it into a joint account as it is my salary account. Can i just show my account and attach a no objection certificate as i would be accompanying him.
@sanjaysharma-te6zv
2 жыл бұрын
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.
@TheTARZANPRODUCTIONSS
3 жыл бұрын
Hey Dream Canada Team, Thanks for some very helpful videos. My query is Myself & My Wife we are applying for PR under Express Entry, it will still take a months time to receive my Marriage certificate can we maintain funds 1. Separately in 2 different savings accounts that total to the required value 2. Open a Joint Account and add funds in that 3. Keep funds in just the primary applicant's bank account Also during the process do we need to submit bank statements anywhere or just the bank letter is good to go. Thanks in advance for the revert.
@DreamCanada
3 жыл бұрын
YES to all 3 queries. All the required documents/statements have already been mentioned in the video.
@rhiamaddona
3 жыл бұрын
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
3 жыл бұрын
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: kzitem.info/news/bejne/zqNp3naqb5WThWk
@funtym6083
3 жыл бұрын
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.
@anfebece
3 жыл бұрын
Thanks for the info! Quick question, is it a problem if my average balance is very low but at the moment of applying I have all the money in the account? I’m asking this because I’m going to sell my car for the 50% and the other 50% is going to be provided by my father, but I won’t have that money available until I’m 100% sure I’ll be invited. Thanks!!
@DreamCanada
3 жыл бұрын
Hi Andres, it will be okay, as long as you have supporting documentation of genuine recent transfers into your account. Also make sure to get a gift deed and affidavit for the amount your father is providing.
@anfebece
3 жыл бұрын
@@DreamCanada thank you so much!
@sarumadhavan7189
2 жыл бұрын
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?
@girishpatil6445
2 жыл бұрын
Hi Jason! As I am from middle class family that much amount is very difficult to show in my bank account. So we are planning to sell some property to comply proof funds but my question is can we deposit that amount just before the documentation stage that is once ITA received or it is compulsory to maintain that much amount for six months period??
@DreamCanada
2 жыл бұрын
Hi Girish, that's completely fine, as long as you have supporting documentation that shows your transactions are genuine such as deed of sale, bank transfer documents, agreements, etc. Make a mention of it in your letter of explanation as well.
@girishpatil6445
2 жыл бұрын
@@DreamCanada Thanks for your reply Jason..is it necessary to keep that much amount for six months before submitting documents including proof of funds or we can deposit it one week before submission?
@DreamCanada
2 жыл бұрын
A week old transaction is also fine, as long as the documents mentioned above are provided
@bikazful
3 жыл бұрын
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
3 жыл бұрын
That's completely fine. Even Passbook entries/e-statements will suffice.
@bikazful
3 жыл бұрын
@@DreamCanada thanks for the quick response. Regarding the e-statement, does it require a stamp and signature?
@HardeepSingh-ih2sf
2 жыл бұрын
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!
@AMOLPATIL-tz6qr
Жыл бұрын
What should be average balance in bank account and what should I do because I just transfer my funds a month ago
@racontentwriters
3 жыл бұрын
Hi. Hope you are well. I have a couple of dumb questions. 1. What if we can arrange the settlement funds once our EOI is approved? Like it isn't easy for Jobians to arrange $17000 in advance and have it kept for 6 months. We'll need to sell something to arrange such a hefty amount. 1b. Related to the above, if I have submitted my EOI with a yes to POF but I don't have it now? Will that affect my application? Or I can still arrange POF after approval? 2. I saw in a video that a gift bond was used as POF. Is it something acceptable? What's the process? Thank you in advance
@DreamCanada
3 жыл бұрын
Hi Kiran, don't worry, these questions are pretty common, and definitely not dumb at all! Answers to your queries: 1(a). This is a common occurrence, as you've partially explained as well. As long as the funds reflecting in your account are generated from genuine sources, its completely fine, and you can further explain this in your letter of explanation as well. 1(b). When you receive an ITA is when you'll have to upload ALL your documents which includes your POF documents. So even if you don't have the funds from the time you have created an Express Entry profile until you receive an ITA, that's alright. After you receive an ITA, sufficient funds must reflect in your account & mentioned on your bank letter before you upload it as a POF document. 2. Yes, gift deeds are often used on official stamp paper documents to ascertain that POF funds reflecting in your bank account have been gifted by family members, friends, etc. & that they have no intent of receiving this money back any time in the future. These are supplementary documents to again, ensure that the source of your funds are genuine. I'll make a separate video on the gift deed process in a while. Hope this answers all your queries. Have a great day ahead!
@racontentwriters
3 жыл бұрын
Also, is there a way to reach out if I want to discuss my case in detail? FYI, my in-laws reside in Winnipeg, MB (so we're applying for MPNP). MIL is a PR (soon to be a Citizen), and FIL was a Canadian Citizen (he passed away 2 weeks back which is why we want to speed up this process as my mother-in-law is alone there). I am not sure if we can still utilize my FIL's citizenship status. I have an overall Band 8 in IELTS (9, 8, 7, 7.5) and I have more than 10 years of experience (Content Specialist + Marketer). My husband is trying to achieve at least Band Score 7 (his exams are due this Saturday) and he is an educator + administrator (with 7+ years of experience). I have already submitted an EOI and my score was 565 for MPNP. But POF is something that concerns me right now. Any help is appreciated! I am not going to consultants because I want to save my money for the overall process. Thank you in advance.
@racontentwriters
3 жыл бұрын
@@DreamCanada Uploading after receiving an ITA makes sense. But isn't the time period to do that is 2 months? How will we show POF for 6 months? :/
@joseacostaarrizon1021
3 жыл бұрын
Hello Jason, thanks for the great work in the content of your videos. If I have funds in cash, how do you recommend I make the deposits to my bank account? Is it alright if I make one single deposit, and how many months must pass before I can actually use my bank account for POF?
@DreamCanada
3 жыл бұрын
You can, as long as you have genuine proof of the sources of your cash.
@joseacostaarrizon1021
3 жыл бұрын
@@DreamCanada If cash was a gift from family in order to move to Canada, how do you suggest this be done?
@DreamCanada
3 жыл бұрын
You'll need a gift deed and an affidavit.
@navroze92
4 жыл бұрын
Hi Dream Canada, thank you for providing all the valuable information appreciate the work. I had a query regarding the balance mentioned in the bank letter. Are minimum funds considered for the average balance or for the total amount in the savings account?
@DreamCanada
4 жыл бұрын
Minimum funds mentioned according to the size of your family should be the total amount in your bank account in question. A 6 month's average balance statement just acts as supporting documentation to your proof of funds amount. All the best for your application; have a great day!
@navroze92
4 жыл бұрын
@@DreamCanada thanks for the clarification :)
@DreamCanada
4 жыл бұрын
No worries; always glad to help!
@ashrafzaman2344
3 жыл бұрын
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.
@vishnusuryapinnamaraju2292
3 жыл бұрын
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.
@nilufarsayyed5860
2 жыл бұрын
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
2 жыл бұрын
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.
@varunsstudio6329
2 жыл бұрын
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
@ebinjoshy
3 жыл бұрын
I have two fixed deposits linked to my saving accounts. And these deposits were created 2 months ago from the funds available in the savings account. Should I mention about these deposits in the letter and provide the bank statements as proof of its source?
@DreamCanada
3 жыл бұрын
Do make a mention of all the accounts you hold, whether fixed or savings, in the same bank letter. Statements can act as supporting documentation. All the best for your application; have a great day!
@ebinjoshy
3 жыл бұрын
@@DreamCanada Thanks for your prompt reply. I have one for query. In that case do you think I can mention about the average balance for past 6 months?
@muminkh4132
3 жыл бұрын
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?
@jashanpreetkaur7157
3 жыл бұрын
Hi Jason, I have enough funds in my bank to support proof of funds. But other than that I have nearly $5k credit card to payoff from different bank. Do they other banks as well? Would be thankful if you answer my query?
@DreamCanada
3 жыл бұрын
Your credit card debts won't have any negative impact on your PR application, as long as you have sufficient funds in your account and they aren't obtained from your credit card.
@afzaalahmad4964
3 жыл бұрын
Greetings. I am a software developer by profession. Married and have a kid. if I only myself wanted to apply for immigration and family back staying in the mother country. Then I have to show POFs for a single person as C$12,960 or of 3 persons as C$19,836? Or have to show their expenses with respect to mother country expenses. As its around 1.5 to 2 lakhs for a whole year. As family members are not traveling along so their expenditure would not be as much as mine in Canada.
@DreamCanada
3 жыл бұрын
Even if your family is staying back behind, irrespective of lesser expenses in their home country, IRCC is strict on applicants maintaining POF amounts for all family members. So you'll have to maintain the required amounts for youw wife and child as well. Have a great day!
@isiakaidris2163
3 жыл бұрын
Hi Jason....thank you. Can one use an investment account as POF
@nethradevmilinddev266
2 жыл бұрын
Hello Jason, thank you for a great video :) Could you please tell us if we can show the Loan amount as POF? Kindly please let me know!!
@DreamCanada
2 жыл бұрын
Hi Nethra, no, you can't take a loan for POF amounts. The funds have to be yours.
@nethradevmilinddev266
2 жыл бұрын
@@DreamCanada Thank you for your reply :) Appreciate it :)
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