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Settlement Funds

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Old Jun 1st 2009, 7:52 pm
  #1  
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Default Settlement Funds

Can anyone eloborate this:

Is the certificate from the bank mentioning that my father holds a bank account and his son (me) has the mandate (signing authority) in that account as well, is enough for proof of funds. or anyone has a better to idea to deal with? please reply.

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Old Jun 1st 2009, 8:32 pm
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Default Re: Settlement Funds

Someone else may have to correct me but I would personally have thought that the bank account with funds would have to be in your name for sure!
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Old Jun 1st 2009, 8:50 pm
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Default Re: Settlement Funds

I would have to agree.

You need unencumbered funds in your own right, so you will need to prove that you have your own funds and where those funds came from (eg that you earned it and not given to you, or from a policy etc..) and in your own name.
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Old Jun 2nd 2009, 4:46 am
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Default Re: Settlement Funds

Originally Posted by Walsh Clan
I would have to agree.

You need unencumbered funds in your own right, so you will need to prove that you have your own funds and where those funds came from (eg that you earned it and not given to you, or from a policy etc..) and in your own name.
Just a question, no offense intended but what difference does it make wether you earned the money, was given it, won it or found it in a wheelybin
Surely as long as the money belongs to you and it isn't secured on anything, like a loan or a house it should be ok!!!
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Old Jun 2nd 2009, 5:04 am
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Default Re: Settlement Funds

The Certificate of Balance from the bank will/should show only the name of the account holder and not those with powers of attorney. The source of the funds is of no consequence to the Immigration authorities.
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Old Jun 2nd 2009, 5:54 am
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Default Re: Settlement Funds

Originally Posted by mags1972
Just a question, no offense intended but what difference does it make wether you earned the money, was given it, won it or found it in a wheelybin
Surely as long as the money belongs to you and it isn't secured on anything, like a loan or a house it should be ok!!!
Fair question! I am presuming the idea is to ensure that the money hasn't been borrowed to you, as there is a possibility it has to be returned, so they were only examples.. though if you find any dosh in your wheelie bin, I'd happily take it!
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