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

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.

Follow Us On:

#ProofofFundsforCanadaImmigration #BankLetterFormatforExpressEntry #CanadaPRProofofFunds

[shreya]

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?

[kandulabharath]

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?

[sami]

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

[muditgrwl]

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!

[musttravel]

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?

[amitbhadu]

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.

[Alamx]

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.

[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.

[atpeacewitheasevlogs]

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

[ophiliagracias]

@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 🙏

[priteshpatel]

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

[Gurpreetrekhi]

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 ?

[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

[poojakhaitan]

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?

[funtym]

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.

[vyrvexiavyy]

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?

[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.

[frbh]

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

[adejumokeoladipo]

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

[Rahul-chsk]

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.