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All you need to know about Proof of Funds for Canada Express Entry
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- Опубліковано 6 вер 2018
- Find out all you need to know about the Proof of funds for the Canada Federal Skilled Worker Express Entry. See more on the official website below www.canada.ca/en/immigration-...
Thank you Nneka.You just explained my question in your last sentence about POF being gifted too.Keep the good work dear
You have the gift of a teacher
I like the way you explained everything
God bless you sis. I can't believe I've listened to all your videos. You rock.. thanks for putting me through
Thanks for the encouragement 😃
Thanks again, Enjoying the videos
Well explained. Thank you
Video was helpful, thanks
Missed your videos😊😊😊
Great video thank you!
Thank you!
Nice video. Please also include using the CanPR app for self application steps
Thanks alot
Hello, I’m an aspiring postgraduate student and I’d love to know how one can prove to the Canadian embassy officer you have no intention of staying back after your study program
Thanks for the informative video. Can shares be used as proof of funds or an Estate Account which am a signatory to?
Please, how long do i need to maintain fixed deposit before applying for SINP. I really want to know if my certificate carrying 6 months will be enough for me to apply at anytime even if the certificate is 1 month old at the point of application.
Hello Nneka, could you advise if Personal Employee Provident Fund is accepted as proof of funds? Basically shows your entire payout once you resign.
Hi there..what if I’m getting sponsored by my brother in us and my sis in Nigeria? How do I go about it? Thanks
Very intelligent
how about when i’ve been admitted in a school??
Hey I have just landed on your videos from Uganda in east Africa. But I would like to know more about your history , did you go through the express entry system, are you a student in Canada, which province are you in
As a government worker it’s very hard getting reference letter from them. How do one get pass such situations especially if that job experience is needed and your office is not ready to provide you with one.
What about gift deeds ??
New subscriber here, thanks for the info. Quick question. Can the proof of funds be your savings in your account overtime?.
Yes, over 6 months
@@NaijaCanadaGirl thanks
Help please!!
If we deposited a lump sum amount in a account half from a property sold and half the gift deed from mother
But the money was received in cash from both ; the buyer and the mother
How to explain it if IRCC asked for the provenance for the POF??
Not sure really, using property as POF has it's own requirements which I don't know about. Gift deed need a notarized gift deed. Use your Letter of Explanation to explain any gray areas. I'm however not an immigration Consultant so can't advice you unfortunately.
Is it not possible for my in-law to sponsor us? I mean using his statement of account.
Hi...please for my POF, should I quote the face value of my tbill or the discounted value? The TBill matures in about 10 months and I about to submit my PR application.
I don't get you question. You Tbills certificate should show the exact amount you invested. The certificate is what they want
What if the money Is given to you as a gift. What should you do in that instance to explain to the Canadian interviewer.
You'll need a notarized gift deed from the giver. And there isn't an interviewer. It's documentation required to be submitted
Nice video but please How much is accommodation monthly? Can you give me an estimate?
Please for someone that bank with three different banks, does it mean he/she has to merge in one bank to use as POF? please reply
It makes more sense and seems less complex
Hello Nneka, thanks for your video. Can an applicant's dad gift out the required amount some weeks before applying and then get the gift deed signed? Will this not affect the application process? Thank you
A gift can be given anytime before the application. You just need proof of funds transfer, the notarized gift deed and the money has to be still be with you even when you land.
@@NaijaCanadaGirl Thanks a lot for your response, God bless you
Thank you for the video. If my family sponsors me, should the money they send me be in my account for the 6 months or could it be just the last month ?
It could be the last month but in addition to transferring it to your account, they need to prepare something called a gift deed signed by a notary officer to show that they are gifting you the money and will not be taking it back.
hi,Nneka and how is it going?please can you send me the list of documents needed for FSW application.
Thank's.
From
Nkechi
Housing costs are crazy in Canada. A 1 bedroom is like $900-1200.
that's correct
this was so helpful. I really want to move to Canada but the amount that they want you to have . My goodness it might take me 3 years to save with the current state our African countries are in. I'm so sad .
don't lose hope😊
If I don't withdraw the money when coming to Canada, how can I access my savings account when there. Do I have to change it to a domicile account?
Hi, you can have access to your money anywhere in the world if you have a master or Visa card linked to the account.
oh, thanks.
Please I'd like to know when a single person is showing last 6 months bank statement and when it has to be 12,669$ , is it compulsory that all past 6 months he/she had the same amount , not less than that ?
They just need to see a believable statement that does not appear like someone borrowed you the money. It can be a build up over time.
Talking about assets that can be easily liquidated, you have used Tbills...can a mutual fund statement be used?
I think so. Not sure.
@@NaijaCanadaGirl Thank you for your response.
What about Bank Fixed Deposit.... Is it acceptable???
Hi, can I submit my pension fund statement if 25% is more than what I need as settlement fund with explanation that I can access it in four months after I have stopped work? P:S I have about 80% of the settlement fund in tbills.
Hi, sorry but I don't know if this is an option
Can one person write IELTS to cover the others
What if a family friend decides to give me the fund?
I’m a first timer on your page. Pls I would like to know if u can process a provincial nominee program with the gift deed without waiting for 6 months. Cos I have a sponsor who intend to gift the money to me soon
Hello thanks for your informative videos. I have a question to ask please?
Do I have to hold the proof of funds consistently untouched for the period of 6 months? Or can there be expenditure from the proof funds?
Thanks
Not sure about the dynamics but your statement of account should show the money was comfortably there and not seeming like borrowed funds
In other words, no movement of the cash here and there
Thank you for your reply
I mean if my dad gifts me the amount of money for proof of funds, can it be touched or left to sit in the account for a period of 6months
@@ru21babie if it is a gift, there isn't a reason for it to be touched. A gift is usually backed by a notarized gift deed stating the date it was deposited to you and amount. It is also backed by a statement of account showing the transfer. They wouldn't expect you to use the gift for any other purpose. But I always advise people to visit the Canada immigration website themselves for the exact instructions regarding proof of funds
As a student can someone who is ur sponsor pay money to acc to cover ur tuition fee and other expenses and its acceptable as proof of fund?
I'm not sure how proof of funds works regarding Student visas. I'm only familiar with the Express Entry process
Thank you for this video. Does it mean the Government doesn't pay for your housing and shelter for 3 months until you get a job. Especially when you apply through an agency. Please I need clarification. Thank you
Nothing like that. That's your responsibility. You have free healthcare, child care benefits, tax rebate but you are responsible for your upkeep.
Nneka what if you have more than 12k usd . I mean if you have up to 100k that build up before or by 6 months before your application
Hi, I don't quite understand your question. You've mentioned 12k USD and 100k...
Joint account with my grandfather is acceptable as a proof of fund?
To be honest, I don't know but you can check your Canada immigration website in the description box to see what is acceptable as proof of funds
What if you have a sibling staying in Canada is the proof of fund a necessity?
Yes it is
hi naijacanadagirl, pleas how can one do to join treasury bill and howdoes it works?
You can go to your bank for advice on how to go about it
can pension be a proof of fund ?
No it can't. Explained in the video.
Good day Nneka.
I have a sibling in Canada, am going to be 35years in November, my only qualification is school of nursing and midwifery certificate and I plan on applying through the pnp. But I got scared when you said in one of ur videos that bsc and masters are added advantages. What do you suggest I do Pls?
Quite honestly, I can't give advise on that cos I'm not an immigration consultant. But my video on how to check your CRS score and how to increase your CRS score should help. Check them out
Hello Femi, you are sure to go for the pnp, but not too good for express entry
Greeting Nneka, i am a salary earner, but i do side jobs that earn me money too, most time its bigger than my salary, how do i defend the money?
You don't need to defend it as long as there is a history of this money coming in before you started the process
My family and I are planning to move to Canada bt I will be the primary applicant while my husband will be funding the bills.bt we are not running a joint account,will it be acceptable?
Yes that's fine
My mom's gifting me the funds I need. Can I put it in a treasury bill and show that as proof when submitting my application?
Yes you can. You still need a gift deed and an account statement showing your mum transferred the funds to you.
Naija Canada Girl does my parent have to explain how they got the money?
Naija Canada babe not girl. Thumb up for you in fact all ur videos make real sense to me. Please my question is dis, can someone use his wife bank account statement as proof of funds? But d name of the account is still bearing her name not her husband name coz she hasn't do change of name.
Yes you can as long as there is proof that you are a couple and she is also part of the process.
You can add the supporting documents like marriage cert and change of name to prove you are married.
@@NaijaCanadaGirl tank you so much. ma
Can I use a mutual funds investment as proof of funds?
Yes
Hi,
I just want to ask if its ok to receive a gift deed to my SISTER IN LAW???
1. my wife is accompanying me.
plus our main pof are all in our joint account.
2. around 15% of our POF comes from her gift.
is it ok? or is it a red flag from the officer?
3. Also, would it be fine if i include the name of my wife in the giftdeed document to
strengthen and to emphasize close tie with the donor?
4. and lastly, since i havent received ITA yet, (already have nomination)
im still accumulating funds and by the end of the year ill be increasing our POF by 20-30%.
Hi Crisha, I'll advise you to to follow the IRCC guidelines on POF to the letter to avoid any red flags. if you don't feel settled about it, it's probably for a reason. Unfortunately I'm unable to provide immigration advice based on other people's situations since I'm not a licensed consultant
Hello, like you i intend to use Treasury Bills as Proof Of Funds. Does the 6 months rule still apply for Treasury Bills?
Explain what you mean by 6 month rule
What i mean is If one using his/her bank account to show Proof Of Funds means providing a 6 months bank statement, does it mean that i need to have held the treasury bills for 6 months as well?
@@MultiGonon yes it is similar but with Tbills, what you need to prove is that it was purchased with your funds not borrowed funds. So this will include showing your bank account transactions for at least 3 months leading to the purchase of the TBills.
Hi, is it fine to have had 8m amount in the account for past 1 month and then invest in treasury bills for 7months few days before submitting my Express entry? Can I show the account statement for that 1 month and also my treasury bill statement
Can i show fixed deposits, public Provident fund as proof of fund
Fixed deposit, yes
Hello,please can one build your POF about a month to your application ?
No, at least 3 months
Please I'd like to know if one can use a business account for proof of funds. The account in question is run by me. I am the only signatory to the account. Thanks
Business accounts are not usually accepted unfortunately.
@@NaijaCanadaGirl ok. Thank you very much for your prompt response.
Does the Canadian government double check with your bank?
@@pawa-ph6il3ip4m They do their thorough investigation
WHAT ABOUT A SINGLE MOTHER WITH A CHILD , HOW MUCH IS EXPECTED TO HAVE FOR A MOTHER AND A CHILD
Please can I use my domiciliary account for proof of funds?
Hmm. To be honest, I don't know but I don't see why not. I'll advise you to research more on the proof of funds requirement on the Canadian immigration website
please how can i get this gift deed? my friend/Guardian is in the U.S and he is ready to sponsor me. Do i also need to spread the money for 6 months? can he transfer it in one month?
He can transfer at once. You need proof of this transfer and he needs to prepare a gift deed which should be notarized
Thanks so much.
How do I get a "gift deed" ???
Please can I be the primary applicant for my family and use my husband's account for proof of funds?
Yes you can
@@NaijaCanadaGirl thanks for your reply. I appreciate
Pls can you convert the proof of funds to Nigerian currency ???? Just want to have idea of how much to have in my bank account as proof of funds
You can use any currency converter website like Aboki FX to do that for you
Hi,nneka can you please refer me to hospital in Victoria island where you did your medical exam.is it a place specified by CIC or is well known hospital. The address and name.
Thanks
Nkechi
Is it necessary that you be 12 thousand dollars in the account for 6 months? What if my account during the 5 months is less than 12000 dollars, but it increases gradually until the amount is completed in the sixth month?
Hi, the plan is to give them no reason to doubt the availability of your funds. Also not to look like borrowed funds. I'll advise you visit the Canada Immigration website for the updated amount required and specific words on how the funds should be handled
@@NaijaCanadaGirl OK, Great
Thank you Naija
Can I submit a letter of emolument from my current employer,showing how Much I earn in a year so that's how o got the money in my account
This is also one of the requirements. It's called reference letter from previous employers. It should state how much your earned. Regardless, you still need to submit your account statement because if your employers have been crediting your account with that amount, it will reflect there.
Naija Canada girl, pls how long did it take u to get a job?
The proof of funds must be in your name?
What if it’s in parent’ name?
Your name. If it's a gift from your parents, use a gift deed
Naija Canada Girl thank you
Hey sis, my brother is in the U.S. and he want to use his bank statement for my proof of funds, will it be ok.
No it isn't okay
@@NaijaCanadaGirl Please, tell me what I need to do to make it valid.
@@NaijaCanadaGirl I got acceptance letter from Humber college and my program( architecture of technology) will start on 6th of January 2020 I really need your advice.
@@lobfakart7399 congrats but I'm however not an immigration consultant and might be unable to provide the sort of advice you need. Moreso, I'm not familiar with the process of coming to Canada to study as an int'l student
@@NaijaCanadaGirl seriously? My cousin use his bro account statement and he's five years in Canada hmm
What if a lump sum of money is deposited to your account as a gift (maybe a wedding gift)...will that raise an eyebrow?
Yes. Gift deeds should be used for any gift and they will determine if they can accept this or not
@@NaijaCanadaGirl ok...so is there a form for this gift deed or its just a notarized letter/statement?
Thanks Canada girl , can you help me out with the process,I have the money in my account,I finished from UNN 2010
Please how do I move the money to Canada?
International transfer? It does however look different depending on the country your money is currently in
Hey dear.. Can I have mutual fund as PoF
Yes you can
Money is my problem . I have a family of 4 .
Can u help through the process.Am in finland.do u think it wise apply now
Yes, you can definitely apply if you meet the requirements. I'm however not an immigration consultant. You can send me an email and I'll refer you to some
OK thanks. Can I get ur email
@@PropheticallyQueenruth36 naijacanadagirl@gmail.com
Hi. Can my spouse obtain a loan and transfer to me.
Since I am the primary applicant.
Thanks.
Loans aren't allowed as POF
Ma'am,I applied as a live in caregiver,(unskilled worker)how much is the maximum amount of my bank statement should it be?
I don't think u need that since uld be a live-in caregiver. As long as u get an employer
Thank u ma'am for your kind reply.
And also just need to ask,in my case as a live in caregiver/unskilled worker,should I need to take IELTS exam?thank you so much in advance for the info.
Hi There, so if I understood you correctly. I can not take a personal loan for proof of funds?
No you can't, they require it not to be borrowed
What's fb and b
Airbnb. It's like Uber but for houses. You can search more about it
If you are married can you use a sponsor as well??
As long as the sponsorship covers the total amount needed for you and your husband or family size
I am Shaikh Abdullah from Maharashtra,india I have done bachelor degree civil engineering Canada,tronto demand civil engineer please give me suggestions as a civil Engineer need job in Toronto
Unfortunately this is not my field and I have no insight on it.
@@NaijaCanadaGirl what's your fieldr?
@@Markks100 Marketing
Poor audio all the time. Try n do better
Hello Michelle, I have acknowledged your comment of poor audio on every post, old ones inclusive. However note that old videos cannot be edited. I however hope you find the content I voluntarily share though me experience somewhat useful at least. Regarding me trying to do better, you would notice, I have improved my audio quality in newer posts. Please comment on the improvement when you watch them...if you do.
@Michelle Efe check your device audio setting, the audio is actually very crisp and clear
please how can i get this gift deed? my friend/Guardian is in the U.S and he is ready to sponsor me. Do i also need to spread the money for 6 months? can he transfer it in one month?
He can transfer it to you. You will need proof of the transfer, and a gift deed written by him and notarized.
can he transfer all at once?
also if its a gift deed, must it still stay for 6months