Changes in Express Entry Proof of Funds Requirement | IRCC Update

IRCC has updated the minimum funds needed to settle in Canada.
Make sure your Express Entry profile is updated by May 27, 2024, to stay eligible. These updates are based on 50% of the low income cut-off totals and are refreshed annually. Remember, updating your funds doesn’t affect your profile date, so you’ll maintain your rank in a tie-breaker!
If you have more money, you should list the full amount in your profile or application.
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Kubeir Kamal, aka Kamal Lalwani, is the founder of Ask Kubeir Immigration.
A Regulated Canadian Immigration Consultant (RCIC) licensed under the Immigration Consultants of Canada Regulatory Council (ICCRC) with license number R706180, he is also a member of The Canadian Association of Professional Immigration Consultants (CAPIC) member ID R21006.
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[@lauvettseelondo7473]

Kubeir, you are the surest source for every information on Canadian Immigration. Thank you for always making the sacrifice to keep us informed. You are indeed the best.

[@sumblasami6073]

sir my ielts score is 4.5 so in express entry pool not consider any points for my profile in federal and pnp they both show me (Not MET) so what should i do? my ECA is complete, ielts is fresh complete but with low score so y they r not give any points???

[@nigglesable4194]

Do you need to update your proof of funds if you already have enough to make the new cut off?

[@ginawilliams3616]

Good day, sir, thank you for all the information you provide. I had a question. I sent in my application to be eligible in the pool of selection. I believe a few days before the proof of funds changed. Do I have to go in the app and update my application to reflect the, proof of funds needed for the family in the most updated proof of funds chart from immigration Canada now ?
Also legally the number of family members in my family is four. Husband, wife, and two children. However, the husband will not be immigrating to Canada and lives in a different country. Legally married. Technically, it will be three individuals immigrating, but because we are legally in the family, do the proof of funds reflect the number of people in the family, regardless of whether a member will immigrate? Or can I select three which is the actual number of people who will be immigrating?

[@humairahmujawar]

thank you, Sir, for clarification on this update.

[@humafaisal6519]

Same for Pnp or not

[@psai81]

Please analysis why no express entry draws? Might be preparing for cec?

[@sufyanmukri9610]

same question

[@foodwithuv]

Thanks for latest info my trust worthy resource❤❤❤❤

[@aryankapoor1508]

Hello sir, My file is already in express entry pool, from November 2023, and I am eligible for Federal skilled worker and Canadian experience class. Also, I have been working for more than 1 year in Canada under PGWP, in this case do I need to show proof of fund?

[@aartivarma4871]

I have the same question! My profile has met both CEC and Federal Skill Workee requirements, would I still be needed to show funds if I get an ITA? Many thanks in advance :)

[@nishithakkar2503]

Hello Sir, I qualified under both CEC and FSW category as per my express entry profile, do i need to update my proof of funds details? if yes, how to do so.

[@rohitdrablani374]

You’re automatically eligible for CEC directly because you have FSW eligibility. So technically you would need to provide proof of funds. Anyone who’s ONLY eligible for FSW is exempt from this policy.

[@nishithakkar2503]

I’m already in canada and i have 1.5 years of canadian experience as well

[@rohitdrablani374]

Yeah, it doesn’t matter if you have Canadian experience or not. If you have ANY foreign experience you need to update your proof funds.

[@nishithakkar2503]

And how to do that?

[@Sunil-fw1sg]

Can I transfer money from my wife account

[@AskKubeir]

Yes

[@chefdehimalaya4605]

After invitation we can transfer or it should be before invitation

[@AkashRaval-ll2bk]

First view