Proof of funds - FSW 2014

Old Sep 17th 2015, 6:36 am
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Default Proof of funds - FSW 2014

Hi all,

I applied under FSW in August 2014, today received an email asking for proof of funds AGAIN because the proof I have provided apparently means I don't have sufficient funds.

I am single and moving to Canada on my own therefore I believe I require $11,931. I have $17,000 in just one savings account so I can't understand why they think I don't have sufficient funds.

Can anyone help and provide some guidance on what I need to do as I am sure they are wrong.

Thank you
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Old Sep 17th 2015, 6:46 am
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Default Re: Proof of funds - FSW 2014

Originally Posted by KetanP
Hi all,

I applied under FSW in August 2014, today received an email asking for proof of funds AGAIN because the proof I have provided apparently means I don't have sufficient funds.

I am single and moving to Canada on my own therefore I believe I require $11,931. I have $17,000 in just one savings account so I can't understand why they think I don't have sufficient funds.

Can anyone help and provide some guidance on what I need to do as I am sure they are wrong.

Thank you
My guess is because a year has gone by since you applied they still want to know if you meet the requirements. Its amazing how people can spend money that's in a savings account
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Old Sep 17th 2015, 6:55 am
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Default Re: Proof of funds - FSW 2014

Originally Posted by Former Lancastrian
My guess is because a year has gone by since you applied they still want to know if you meet the requirements. Its amazing how people can spend money that's in a savings account
I was hoping that it could just be they want an up to date view as it has been a year - is it common for CIC to ask for an update?

I'm still concerned as the email said: 'The bank statement you have submitted in support of your application shows an amount that does not meet the minimum requirements.'

However, I provided statements to 3 accounts totally nearly $30k so well over the requirement for a family of 1.

Should I add an explanation as to where this has come from?
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Old Sep 19th 2015, 9:30 pm
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Default Re: Proof of funds - FSW 2014

Could it be they think my family are coming with me (parents, siblings)?

I obviously had to provide my parents & siblings info in the Additional Family form, however they are staying in UK and I am moving to Canada on my own.

My parents and siblings can all support themselves financially so I shouldn't be expected to be supporting them. So in terms of funds I require I'm going on the basis of 'family of 1' which requires $11,931 which I have more than enough to cover.

If they are expecting I have to cover my parents & siblings (who are staying in the UK and can support themselves) too then I fall short but I can't imagine this to be the case.
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Old Sep 20th 2015, 6:10 pm
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Default Re: Proof of funds - FSW 2014

Your parents and siblings couldn't go with you even if they wanted to, so no, that's not it.

Is the money in your savings accounts instantly accessible?
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Old Sep 20th 2015, 6:18 pm
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Default Re: Proof of funds - FSW 2014

Originally Posted by christmasoompa
Your parents and siblings couldn't go with you even if they wanted to, so no, that's not it.

Is the money in your savings accounts instantly accessible?
Yep they are instantly available. I think I'll write a letter to go with it stating more details and that they are instantly available.
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Old Sep 20th 2015, 9:18 pm
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Default Re: Proof of funds - FSW 2014

Originally Posted by KetanP
Yep they are instantly available. I think I'll write a letter to go with it stating more details and that they are instantly available.
Good idea. If you can merge the monies in to one account that might make it much clearer as well.

Good luck.
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Old Sep 20th 2015, 9:42 pm
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Default Re: Proof of funds - FSW 2014

Originally Posted by christmasoompa
Good idea. If you can merge the monies in to one account that might make it much clearer as well.

Good luck.
Thank you. Wish I could merge them. Some of my money is invested in shares which whilst I can sell anytime it's not something I want to do just to show in one account.

The savings account alone has enough funds so should be fine.

Thanks for your help
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Old Sep 20th 2015, 9:46 pm
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Default Re: Proof of funds - FSW 2014

Originally Posted by KetanP
The savings account alone has enough funds so should be fine.
OK, that's fine - the shares won't count though, as they're not 'unencumbered' (i.e. you can't go to the bank and get them out at a moment's notice). Anything you have to sell isn't counted as proof of funds. But as long as you've got enough in the savings, then that will be ok.

Good luck.
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Old Sep 22nd 2015, 6:55 am
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Default Re: Proof of funds - FSW 2014

Originally Posted by christmasoompa
OK, that's fine - the shares won't count though, as they're not 'unencumbered' (i.e. you can't go to the bank and get them out at a moment's notice). Anything you have to sell isn't counted as proof of funds. But as long as you've got enough in the savings, then that will be ok.

Good luck.
Thanks I thought they would accept shares but guess its good to know they won't. They are immediately available if I decide to sell them.

Just have one quick question. I'm going to explain where the funds in my savings came from, and they are savings I have made over the years. So my question is would they find that acceptable? Is it ok for me to simply say these funds are monies I have saved over a number of years?

Thanks
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Old Sep 26th 2015, 10:54 pm
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Default Re: Proof of funds - FSW 2014

When you funds are simply those that you have built up by saving over a number of years, what is the best way to explain their provenance?

Is it ok, simply to say something along the lines of 'these are funds I have saved over a number of years'

??
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Old Sep 27th 2015, 9:04 pm
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Default Re: Proof of funds - FSW 2014

Originally Posted by KetanP
When you funds are simply those that you have built up by saving over a number of years, what is the best way to explain their provenance?

Is it ok, simply to say something along the lines of 'these are funds I have saved over a number of years'

??
You simply tell the truth as to where they come from if asked (have you actually been asked?). So yes, of course it's fine to say they're savings you've accrued over the years.

And just FYI, but rule 13 doesn't allow you to bump your questions, so please don't do it again, thx.
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