How to Show PROOF of FUNDS For CANADA Visa | How MUCH is Needed | Proof of Funds Canada Immigration
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- Опубликовано: 4 дек 2022
- In this video, I talked about the How to Show Proof of Funds For Canada Immigration, student visa, visitor visa. I also talked about How much is Needed For Proof of Funds, and documents needed to show for proof of funds.
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Your explanation is very clear on this topic. Thank you
Great bro , very informative ! keep it up
Thank you
Hello Mr pee, after presenting the statement of account, do the visa go to your bank for verification?
Thank you for always sharing to us thess secrets
You are welcome
Very informative. I think the minimum amount is now about $ 13k plus. Correct me if I'm wrong.
Great video !!!!!!!!
Thanks so much for your information and quick response, When one works in a company and has all the necessary documents to proof he works there but doesn't have a pay slip because he is being paid cash by hand not bank transfer can the person also send bank statement without the payslip?
Hello Mr Peter, thanks for all your advice and help....my company where I work wants to send me for a two weeks vacation in Canada. For the POF can I use the company account, and also filling the ircc form do I process it myself or tell our company account department to fill up the form and make the payment...
I just came across your video because I'm planning to do my Masters in Canada very informative and thank you
You are welcome.
Ok. Thanks for the video. Supposing I land a scholarship that is willing to cover 50% of my tuition fees, can I get a loan to cover the remaining 50% and also cover for my living expenses at the same time? In other words, can a loan cover for one's living expenses? I'm really lost
Thank you for this useful and important information. Stay blessed.
You are most welcome
Can someone of 49yrs apply for sponsorship
Can someone of age 49 year apply for sponsorship
A million thank you for this invaluable information..you have really enlightened me.
Glad it was helpful!
@@PeterIsesele thank you. pls is cgpa of 3.7 good for thesis base course in university of Alberta?
hi, very informative. please do i need to provide proof of funds with the amount in account for 4-6 months as i already have it in account for 2 months but this is almost April and September is around the corner.
Hi Peter, thanks once again for your video. A company that i once worked as an intern wants to sponsor my tuition only. However they are only willing to transfer the money once i get my visa approved but they are also willing to help with visa application POF. my question is, do they need to transfer the money now in my bank account while i apply or all they have to do right now is provide an affidavit confirming that they will sponsor me followed by the company's bank statements?Because my worry is that the money from the sponsoring company needs to be in my account when i apply for visa.
You can get a solid sponsorship letter from them and the proposed amount they want to sponsor you with. They don't have to send the money to your account.
You can get a strong letter of sponsorship from them and affidavit. They don't need to send the money to your account.
Valuable information ❤
Glad you liked it
Very informative video. Thank you Peter
You are welcome
Hi Peter, Great content! I have 3 personal accounts, but I only get paid salary to one. I am able to get a small loan from that bank to make up the total pof amount. Is it okay if I send all the money to one of the other accounts (5 months in advance)- one of the accounts that I don't get paid to? Or will they want to see the statement from the account I get paid from?
If the money in the other bank is your savings, you can show that even if it's not the salary account. YOU can show both account instead of moving the money
Thanks much for the explanation on the POF, Is it possible to use an asset/property owned by a late parent as HOME TIE
?
If only the property is now in your name
What happens if the property is jointly owned by you and your spouse and the whole family is planning to travel?
If you pay for the full tuition for the first year...for a 2 year program, your POF will only consist of the full tuition for the second year right? Along side living expenses and miscellaneous yea?
Yes, the first year cost will de deducted from your whole POF.
Thank you so much. I would appreciate it if you would answer my question.
Can I show proof of funds from two different banks? One in Naira and the other in dollars (Domiciliary account). Thanks
Yes you can!
When going for a two years course, do I need to have the tuition and living expenses of two years as POF to apply?
If you have for two years, that's very fine..
If that is not available, minimum of one year
Hello Mr Peter please I’m applying for my study permit this month end and my sponsors are my elder sister and her husband in Canada.
Please can they use just one letter of sponsorship and apart from dropping their pay slip can they also drop like their property over there(I mean the documents showing they own their house)
Can they also use their RRSP accounts?
Very detailed video.. great work! If your sister (with a different surname due to marriage) is sponsoring you, do you attach only her bank statement or do you need to put yours as well?
I think you will put her birth certificate to show proof of relationship
Hello Peter
I’m in express entry pool, I lived in USA from 2014 to 2020, I have most of my money in my US bank account, I moved back to India in 2020 and I applied for express entry and I’m in the pool, is it fine if I show my proof of funds in my US account or am I supposed to show from my Indian bank account as I’m applying from India
You can use your USD account
Hi Peter, thanks for this video and the explanations. In my case, it's my uncle ( my mom's brother) that is my sponsor, but I have heard people say that it's best if it's someone from my immediate family that is my sponsor. What's your take on this?
Immediate family member is the best option.
Thanks much Mr. Peter👌
What if your sponsor isn’t necessarily family?
This is gold thank you
Sir I have bank statement for the past four months, will it be accepted? Or must it be six months?
Hi bro, is Gift deed from siblings and A particular amount fixed for the purpose of study part of proof of fund
It can be used.
Great and well detailed video.
So going by what you said, is it okay if the only POF shown by sponsor (my uncle) who is already in Canada is yhe letter of sponsorship and his bank account?
Also another question, do i need to send more transcripts beyond the WAEC and NECO when applying for a diploma program? Im currently still in a Nigerian universtiy, but ive gotten admission into a school in Canada.
hello, just came across your page. and thank you for the informative video. i want to find out how the money needed for tuition is calculated, i mean, should it be multiplied according to bank rate or black market rate? thank you
Bank rate.
Thank you for this please does people that were given job offer at Canada show proof of funds during visa application?
Check the current requirement for work permit application on cic website
Does this same method works with Express entry (PNP) Proof of funds? Is an Uncle as the sender also valid? Is it compulsory to show proof of income and bank statement of the sender?
Good evening from UAE mr. Peter. Thanks for all you do.
I want to ask, must the statement of account be upto 4months before one apply???
At least 4months bank statement
Hello Mr peter, thanks for this great content, for someone who wants to transfer from his business account to his personal account when can he transfer the money, should it be six months ahead or anytime and will he still show statement of account of the business account he transferd from ? Thank you.
You can do that minimum 3 weeks to 1 month before you apply.
Thanks you my brother I need this my brother
Hello sir… in the case where my dad is the one to sponsor me from home and i also have a relative in canada, is it okay to put my relatives statement as some sort of back up?
It's okay. You can
Thanks Peter for this great insight. I have a fixed deposit account that has been running for over 6 months, can this be used as POF?
Only if you can access the money in a short time when needed
hello mr peter here is my question my vistor visa get refuse due to the insufficent fund has they state like how much should someone have in her acct both bussiness and servings, secondly like how many month it take me to reapply since i just get refuse but my biomatic still valid till 2031,thirdly is its possible me to choose another path like school to reapply pls your respond is needed sir thanks
Many people give a minimum of 3 months before reapplying.
Hi please i would like to know if money is paid to your account for sale of property and you decided to move that money to your other account you would like to use for the process ,is there any problem?
It's better for them to pay into the account that you will use
I really appreciate ur help sir.. I learnt a whole lot of things from dis video. Please I want to ask... If my brother transfer bulk money which he had saved from his Buisness into my account to for me to use as my proof of fund, how do I prove it in my letter of explanation? Because am not working. And if I want to use his own account, how do I prove it because he's into clothing Buisness, and I don't think his Buisness is registered ( Asin is not all dis big company)??
Since it's not registered, he can show his personal account and explain in detail why he hasn't registered his business. As far as he has good closing balance in the past 4 to 6 months, it should be fine.
Please for a year grad cert if one pay for the tuition for year , does it reduced the POF or are you going to deduct tuition from the a year tuition+ 10000 CAD?
if you have paid the complete tuition for one year, you will only need to show the funds for cost of living
Hello thanks for this very good points and clarification. I wish to ask if I can get a GIC . I am from Cameroon. I think this is only for some specific countries
Yes.
Thanks for this handful of info.
Please, can I use the account of someone in Canada as my proof of fund?
The person has to be a family member.
Can pension statement be used as POF as we can access 25percent upon demobilization of work contract.
If you don't have access to all the money, it may not be the best option
Thank you so much for the information. Is it possible one opens an account in Canada while still in Nigeria
No...
Good day sir, just watched your video concerning proof of fund. I am a nigerian and planning to study in canada,my gpa is 2.5 which i have tried to get a masters degree in so many school but it doesn't work because of low gpa,can i just proceed with a 2yrs college diploma program that is the only option i have now? Hope the visa officer will not question me that i have degree already and now going for diploma.
You can apply for a 2 Years diploma
Sir do I have to start a particular business so I can show and prove I’m the one sponsoring myself. Because I have up to 10000 cad in my account
Hi Peter, just wondering what your thoughts are on choosing between a one-year PGD and a 2yr MSC program with the end game of getting PGWP and eventually PR. Thank you
With one year pgd, you will only get 1 year pgwp. But with 2years masters, you will get 3 years pgwp
Hi, Peter, thank you for sharing your experiences. I am wondering what would do they do after your one pgwp? Do they force you to leave the country?
In cases where you can't find jobs after pgwp.
@@abrhamtoma1814 werey😂
@@xfh35m😂😂😂😂😂😂😂 I need to laugh for 24hrs on this ..hun hun ..they won't force o..they ll pat u in the back and weldone ..just stay with us illegally ..based on who you be 😅😅
A fixed deposit certificate was used in my first application but I was refused visa. How does using an Mpower loan for reapplication appear. I would be having like 5-8 million naira in my bank account for living expenses. The loan would cover tuition for 2years.
You will have of Write a very convincing LOE
Thanks for this, if I am using student finance loan as my pof and also fund from my sponsor…. how long will the money has to stay in my account . The loan actually covers and even more for all my expenses for the first year but just to provide more pof, I still want to use fund from my sponsor…..my question now is can the money from the sponsor be sent anytime to my account like a week to submitting my application
You sponsor can show the money in their account.
Thanks for this wonderful video. Please I need clarification on this issue of proof of funds.
1) If you have a daddy friend in the US that is willing to be your sponsor is this advisable to go ahead with or is it compulsory that it must be your dad or your family relations that can be your sponsor
2) If one pays the full tuition payment for the school he or she is going to in Canada as opposed the part or half tuition fee required to pay directly from the University. How will this help in reducing the requirements in the proof of fond documets. And will you advise one do this if he or she has the opportunity to do so.
Well, family member is the best option.
If no family member is available to act as sponsor, you can use what you have...with a strong letter of Explanation.
Alright thanks
Keep up the good work!
Thanks, you too!
Hi mr Peter, good day, u just got a new subscriber u re doing a grt job, I have two businesses electronics shop and boutique business and I also have coaster bus for transportation and money use to enter my account every week without narration or description. Do I need to explain in my sop the source of funds or will the business documents and transportation cover the source of funds. Though the business I just registered them a month ago but they have been existing for the past two yrs. I will be grateful if my question is look into thanks 🙏
Registration documents will suffice.
Just a little explanation about the businesses will also be good.
@@PeterIsesele thx so much
Thank you so much for the update.🎉🎉🎉.
How do you calculate POF for a single applicant for two years program ? Will you show the living expenses and tuition fee for the two years?
Please for Self sponsored but have lump sum of deposit in my account from my father . How do I explain this. The sum is a support from him towards my study. Should this be explained in my SOP & will he be required to write letter of support and provide his Bank statement too, will this be necessary since he has transfered the money to my account already?
He can write a letter of support..
Showing his bank statement is optional.
Hi sir I had got my offer for Durham college this month. Is the time enough dor me to complete my application for this may intake. Please help me with this situation sir
Silvanthini niru, if all your documents re ready, I suggest you have to start the application now, atlist u still have a little time left before the start of ur program
spouse is sponsoring my visa and she own a business and I want to transfer the money to my own personal account from her company account. Should the money stay in her company account for six months before I can transfer it? Or should I just transfer the fund and state the sources of the fund and show her cac, picture, receipts and her latter of sponsor?
Hi, can my parents insurance statement be used as proof of funds for study visa to Canada?
I don't think so.
For a year master degree program sponsored through loan. Does it worth it and with spouse's support or working during study?
If you are admitted for 2 years program in Canada, will your living expenses still remain 10,000CAD or 20,000CAD?
You have to show one year living expense + 2 year program fund
Hi Peter, great job you are doing. Please my dad is sponsoring fully and he has transferred the money to my account . If I am submitting my personal MBS and his MBS do I still need to submit my salary account or my payslips would be okay.
Submit as many documents as possible.
Submit the pay slips
My father is the one who is sponsoring me and he has more than the required funds but the account is not active it is a saving account and he didn't touch the money for greater than 3 years will this be a problem for my visa approval.
It is very okay...He has to explain that it's a saving account
Hi, I just stumbled upon this video and I wanted to ask you. I am an exchange student going to Canada for 8 months and I am applying for a study permit now. My parents are going to be supporting me financially. For proof of funds do I need to show an account that has all the money I am going to be using in Canada? My parents provide me with small sums and not the whole load at once so how can I prove that we are financially stable for the 8 months in Canada?
Find a way to put more funds in the account you plan to use
What if I live in the US and sponsoring my sister. But we don't have large sums of money in the bank except our income that we get from our jobs. Will that be enough?
It depends on the closing balance in the account
Please my savings is in dollars, that’s in my domiciliary account, can I print that to show proof of funds?
Yes..That's also acceptable
Hi Mr Peter, for the sponsorship, does it have to be a direct sibling, what if the person is like an uncle and we don’t bear the same surname ? Can it work? Will the person still be able to write a ketter
If its an uncle, he will still have to write a letter of sponsorship
@@PeterIsesele again how do u prove ur relationship with ur uncle
Hello Mr Peter, thanks for this content. My question is, is it acceptable if the sponsor deposited entire amount that covers both tuition and living expenses in cash into the applicant’s account due to the nature of the sponsor’s business? The bank statement shows the name of the sponsor and affidavit of sponsorship was also added but the applicant was denied visa. What can someone do in this kind of situation? Although the application was submitted a month after the sponsor deposited the money.
Maybe the sponsor can use their own personal account to sponsor...instead of sending the money to the applicant
Lawal Hammed Tunde did u show proof of relationship between u and ur sponsor?
@@alfredvictor7158How can one show such proof in case your sponsor is ur bro.
Lawal hammed tunde did u provide gift deed?
You have to convince them how that money got into your account, you may want to register your business or you are working. Prove to them that the money have been in your account for at least 6 months....they want to be sure that once you are done studying, that you are coming back to continue with your business or work.
Please, kindly explain how to show pof to my family that will not join me immediately but 6 months after I have arrived in Canada.
You don't need to show their POF if they are not joining you immediately. And if they are not joining you now, you don't need to mention that they will join you in 6months.
Pls sir i want to go to canada as an undergraduate students must i do an account as a prove of fund or can i use my father account since my father is the want sponsoring me. Thanks sir waiting for yur reply
Thanks for this video. What if one is working, and your going as a nurse, though have not gotten work there yet, and ur going with your husband, how much is needed to show as proof of fund?
Best to check the POF requirements for work permit on ircc website
Thank you for this sir. How do I show POF as a 30+ person with a steady income who is going to be sponsored by an Uncle or Aunt (Different surnames)?
You can reach out to me through my website.
We can talk more about it.
www.gradnext.com
What do one do,if you've been denied visit visa to Canada before, can one apply for a study visa
Yes.
Hi, can a friend who is a Nigerian sponsor a Ghanaian who is applying for a study permit? he got his accounts ana business in Ghana.
Friend is not the best to sponsor.
Using a business account is not a good option
The website said four months, but when I read the instruction it says it is 6 months. I'm confused...cause I've already printed for 4 months.
4 to 6 months is fine
@@PeterIsesele thank you, sir😇.
Thanks for this. How long does the money need to have stayed in the sponsor's account?
There is no specific duration... but you need the money to get kind of progressively stable though the 4 to 6months period
thanks@@PeterIsesele
Is there any graduate school in Canada to that one does not need a supervisor approval to apply?Ecology or fisheries field.
Most research programs require supervisors.
I can't tell you which schools or programs don't require a supervisor.
When you check any school of interest, they will tell you if they require a supervisor or not for a particular course
Great content. Is the amount to show for cost of living expenses multiplied by the number of years of the programme or just the first year?
First option.
Good question Emanuel! The answer is not clear to me. Is it the first year only?
Pls i have a cooperate Account and my fund is domiciled in the Account, the Company Account is owed by i and my wife can we use it to show proof of fund or i have to move the money into my personal Account. I have the CAC docs of the Company.
Personal account may be a preferable option than a cooperate account for the purpose of student visa.
@@PeterIsesele
Thank you,my Tuition Fee is 9,500 CAD (thou admission not granted yet hoping to)
We are family of 4 so roughly is around 30K CAD proof i should be preparing.
Should I start now to assemble the fund into my personal Account or immediately admission is offered then I can start moving fund into my personal Account.
Again in addition to the proof of fund do we need to attached our landed property Even after proof of funds is complete?
I’m scared to accept my admission because of pof I don’t know how or where to start with my acceptance.
You can contact me through my website.
I can look into your situation..
Www.gradnext.com
So even after paying my tuition, do i still need to show 10k CAD in my account for cost of living??
Yes.
Hi Peter, thanks for the update. Please, is 10 million cfaf enough for proof of funds as a student in saskatchewan college for one excluding flight ticket.
You need a minimum of one year tuition plus cost of living for visa application
@PeterIsesele it, therefore, means that i need 20000 cad, right?
Hello sir,
What if you do the gic, do you still need any other proof for the visa application.
If the GIC is 10k CAD, that won't cover tuition. You still have to show more for tuition
@@PeterIsesele what if i pay my tuition and then have the gic.
I'm Nigerian
I trade forex but not registered , and I cater for myself how do you advise me I go about it….upcoming trader though😢
It is best to apply for something close to an experience you have that you can provide documents or evidence
I was refuse visa twice even with huge amount in my account and the letter says insufficient fund what exactly the visa officer is looking at please help me thanks.actually the account I use for the application new account i open and no activities in that account I just once in a while I transfer money to that account.
You can reach out to me through my email for more guide
Gradnext1@gmail.com
I think there's a document you can request that gives the exact reason as to why it was denied, rather than just saying insufficient funds.
How can show proof of fund 2 years diploma courses
Hello sir, If you are admitted for a four years undergraduate program, will your minimum living expenses be 10,000cad?
They mostly require you to show minimum if one year living expenses, which is $10k CAD
Hi peter can I use my Dom joint account with my husband as POF????
Yes...
My boys got IELTS.8.5 and 7.5 respectively. They are interested in Data Science. Which uni pay most amount of scholarship?. Could you ps suggest some uni they should apply ps.
Thank you.
First thing is to check out which universities offer scholarship in Data Science (if any)
If my mom's business is sponsoring me and sending the entire amount for the cost of living to my account, must i have the past 4 months statement of the business's account? Because there is no income in my account as i havent been working
You may just show the month where the money was sent from the business account.
Some people don't even add the business account statement
Canada is 6 months.
Thanks for this. Plz, i applied for vv in 2021 but still on process( I used agent), if I am applying for study permit do I need to create another account? I want to do it myself this time
You can use same account.
Thanks for your response sir. I need you to help me out during my application. Pls can I chat you on WhatsApp when it’s time?🙏🙏
Please can a friend of my dad who is a US citizen show his bank statement as my sponsor since my parents are just pensioners? I have paid my first semester college fees and my program is just one year so he’ll be sponsoring for cost of living for one year and just part of the second semester fees.
You have to be able to justify in your letter of explanation why he is sponsoring you
@@PeterIsesele noted, thank you!
Please I'm a Ghanaian currently with a student visa studying in germany. Can I use my father who's back in Ghana as my sponsor?
Yes you can
Thanks so much for your wonderful information, please i want to ask When one works in a company and has all the necessary documents to proof he works there but doesn't have a pay slip because he is being paid cash by hand not bank transfer can the person also send bank statement without the payslip?
You can explain this in your letter of explanation.
@@PeterIsesele thanks so much sir 🙏
@@PeterIsesele please sir is it advisable to book a flight for round trip or one way when going as a visitor
Hello, please a quick question, my cousin in Canada will be sending a letter to show I will be living with them for the duration of my study. Please do I still need to show this amount of money in my account? And my uncle will be sponsoring me as well
If you are not working, you don't have to show. But if you are working, it's a good thing to also show yours.
Okay thank you so much
Thanks sir, please if am doing a 2years program ,must i show proof of fund for the 2years? Or is one year proof of fund okay? Thanks
Minimum of one year
Thanks sir
Hi Peter, thanks always for ur prompt responses. I want to ask if its OK to make a complete payment for a 2 year post graduate course. Both the tuition and ancillary fees? Or should one pay for the first year and seek for scholarship in the second year? Thanks always
If you want to pay anything, one year of tuition is fine....
Thanks for the teaching, pls I will like study in Canada, I already have my first degree here in Nigeria, I which to have my master in Canada,pls Sir I will like you to put me through,, I mean what are the requirements. Thanks
Thank you sir for this video... But in a case where the person sponsoring you(like one's father) is retired but has the funds to pay.....Do we need to explain his occupational state
You can explain that he is retired and has funds. If you have documents to show his retirement, that will be good
@@PeterIsesele thank you so much sir. I really appreciate it
Please how do the Visa officer calculate POF do they use official rate or black market rate?
Mostly the official rate.
@@PeterIsesele thanks
Can I use two different bank statements that's one from my dad and the other from my uncle since my dad does not have sufficient fund to show that he can sponsor me
Yes...You can use two Bank statements
Ok thank you