5 LEGAL WAYS to show your Proof of Funds | International students in Canada
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- เผยแพร่เมื่อ 27 พ.ค. 2024
- Are you an international student interested in studying abroad in beautiful Canada? Being an international student can be hard, and when it comes to the financial side of things, there are many hoops that need to be jumped through. One thing is for certain - you will need to provide proof of funds for your study program! Fear not though, because we have created a list of 5 legal ways to show your proof of funds--all without breaking any rules or regulations. Get ready and dive into this video now - with our help, nothing stands between you and achieving your dreams abroad in Canada!
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So informative and helpful. Need more of these
More to come!😊
more POF videos please! thanks! maybe experiences from other students aside from both of you ☺️
Thanks for your feedback.
Maybe I will interview some of my students.
Thank you very much for this. I am applying for a study permit online however, aside for the GIC account, there is no section in my GC Key checklist dedicated for proof of funds. Where should I attach my documents for proof of funds?
I would also like to point out that the document checklist in my GC key account is different from the document checklist provided by Manila Visa Office (IMM5836). Do I still need to attach those indicated in IMM5836 eventhough they're not listed in my GC Key account?
Hi Rica, the proof of funds can all be in one document. The explanation should be in the Letter of Explanation.
We work with a trusted immigration consultant in Vancouver.
You can also contact us here for more assistance:
facebook.com/studyliveexploreca/
www.studyliveexploreca.com/slestarterkit
Good job 👏
Thank you very much!
Excelente amigos
😊
I heard if we have connections in canada, our application might get rejected as we're planning to come back to our country after studies. So would that be a problem when we show that we have someone who will fund our accommodation etc?
yes, ties in canada. Maybe will make a video about that too. 😊
Thank you so much for this 😊 I’m also planning to be an international student in canada, is it ok to submit a combination of the first 4 documents (tuition deposit receipt, GIC, bank statement and inside sponsor (for accomodation) for the proof of funds?
yesss 🥰🥰🥰
@@studyliveexploreca thank youu 🥰
Good 👍👍😘😘😘🙏🙏🙏🙏🙏
Thanks for the info
We already secure loa and paid 10k cad tuition fee however with proof of funds
we have previously loaned a huge amt of money, now its fully paid … so we wont be able to show any transaction history… will this reason be accepted?
You need to show at least month of transaction history. If you have the funds overall then just show it, provide proof and explain it.
Can you only show tuition deposit paid or it has to be full tuition paid ? And can you only show gic plus tuition receipts only for proof of funds or you have to provide more ?
Hi,
It just has to meet at least your total proof of funds all combined. Here are the official requirements.
www.canada.ca/en/immigration-refugees-citizenship/services/immigrate-canada/express-entry/documents/proof-funds.html
Hello! Quick question, can you open a bank account in Canada and start saving money for the proof of funds? Is that ok?
Hi,
No I believe you can not open a bank account from outside of Canada.
However you can get a GIC from a Canadian bank, which is a great way to show proof of funds.
www.td.com/ca/en/personal-banking/solutions/student-banking/international-student-gic
Good day, is it worth it to loan from financial agency to be a student in canada? TIA!
Hi,
We strongly advise against doing that. If you do not have the funds yet, save for a little longer and then become an international student when you are ready.
Thanks for the info po.
I just have this question po to avoid bulk deposit. I’m planning to go for SP in Canada this fall. I was employed for 6 and 3 months however I don’t have enough funds in my account but my parents will be sponsoring my journey in Canada. What/When is the best time to have the funds deposited in my account? Thank you.
The funds should be deposited rather sooner than later. The longer they have been in the account when you print your statement, the better.
Always explain in your letter if someone is sponsoring you, how they are doing it and so on.
Feel free to contact us here if you have more questions:
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Plz what do you have to say to someone with 11yrs studying gap but has more than enough funds to study.
@Divine City you can apply, all age groups go to canada
Thanks for this very informative video 😊 I'm 28 y.o. and will be sponsored by my brother who's a Canadian citizen. He will be paying everything. Do I still need to present my own bank statement? Thank you so much
If you’re on a working age - mature student, it’s better to show ur own.
Hello nice video. Please can international student account from CIBC be use as proof of funds? Kindly reply
You can use your account at CIBC for proof of funds, yes.
See here:
www.canada.ca/en/immigration-refugees-citizenship/services/study-canada/study-permit/get-documents.html
Hi! My daughter entered Canada on a visitor visa. She is in Surrey right now looking for a school where to enroll in Computer Information Technology. I wonder if she can still catch up the May intake, do you have any information where she can go and what to do? Thank you and hope to hear from you!
Let her enroll at CCTB Vancouver
@@lewischosen5393 Hi! Why do you recommend CCTB what is good about this school?
How about if I get employed by an employer in Canada before I come can I use that Employment offer only as proof of funds
Hi,
If you are a student, then that would only be a part time income (max 20hrs per week)
Also its not really a proof of funds, so I don't think it would count much. (proof of funds means showing that you have the funds, not the potential to earn them)
However I would still mention it on the side in your LOE.
Thank you so much
Where to address the bank statement for visa application
If there is no section for proof of funds then in the section where you have your SOP
What if I get loan from the bank in my country ? and show them that as proof of fund would it be possible to get my visa
We do not recommend getting a loan to finance your studies. You should earn and save the money first.
What happen if student's visa got refused/rejected by the visa officer if already open GIC or any other Canada's bank? Can it get refunded back to my country's account?
You have to check that with the specific bank, they have their own terms and conditions. I would assume that it can get refunded though.
Can I also include my CC as POF?
that is a line if credit and a liability.
Hello,
What about student loans from a bank?
Hi,
it depends on what kind of loan exactly, but in general I would not recommend using a loan, as it increases the chance of getting refused.
Hi mam! When you opt to use the bank statement, ok lng po ba yung savings mo is in foreign bank ? Currently here in dubai po and i don’t have ph acct. would that be fine po kaya ? Salamat po sa sagot🧡
yes its okay, i showed may uae bank too :)
@@studyliveexploreca thank u mam🙂
Are inheritance valid proof of funds? One bulk deposit
Hi, Yes but you have to explain and proof well where it came from. The longer you have had it, the better.
Thanks so much ma, please my question now Is, my husband will be sponsoring me for my living expenses and and my aunt sponsoring me for tuition, my problem now is my husband doesn't have enough funds in his bank account apart from normal inflow from his salary,he is into real estate he has a lot of land and landed property can he sale one of his land,
Our second issue now is this money will be a lump sum in his bank account because is like a month to when I want to apply for my study permit,
But we have all the supporting documents from the sales of the land from his lawyer and we have explained it in our SOP that there is a lump sum in his bank account from sales of land.
Please ma since this money is coming in like a month to my application hope no issues.more of your guide ma, your answer means a lot to me ma.
Hi,
If there is a big lump sum recently coming in then yes you need to have supporting documents on where the money came from. Also make sure that your sponsors explain in writing how they are sponsoring you, where the funds come from etc. Hope this helps
@@studyliveexploreca thanks so much ma your response means a lot ma
Can my mother brother shown as a financial supporter in a canada study visa application
He can sponsor you.
Make sure to explain that in your SOP and have him write a letter as well explaining how and why he will support you and attach supporting documents like bank statements etc.
@SLEStudyLiveExploreCanada thank u
Please can one show student loan as proof of funds for tuition. Thank you.
Hi,
we would not recommend doing that. The chance to get your study permit approved will be higher if you have your own funds.
www.canada.ca/en/immigration-refugees-citizenship/services/study-canada/study-permit/get-documents.html
HI GREAT VIDEO MY BROTHER SHOWED OVER HUNDRED THOUSAND US DOLLARS AS PROOF OF FUNDS BUT I WAS STILL DENIED A STUDY PERMIT FOR INSUFFICIENT PROOF OF FUNDS . WH PLEASE WHAT CAN I DO DIFFERENTLY .
Glad you like the video.
It could be the kind that the proof funds were shown.
Was it all cash in a bank? GIC? Tuition receipts? Sponsor? Maybe they did not trust some or all of it to be legitimate? Could be different reasons
THANK YOU
Maam, Question po: Nag offer po kasi pinsan ko na sya mag sponsor sa akin, tuition fee, food and accommodation(sa bahay nila ako magstay) ano po bah kailangan e.provide ng sponsor ko as proof of funds ko.. salamat po.. God Bless
So your cousin will sponsor everything?
We advise that you show at least a good portion of proof of funds as well.
Your cousin will have to explain in a letter how and why he/she wants to sponsor you and then show all the proof, such as Bank Statement, Proof of employment, property( maybe he owns it?) Basically explain how they can afford to pay for everything.
Make sure you explain all this well in the LOE as well.
need more proof of funds video,please...
Haha,
what else would you like to know about proof of funds?
can i show bank loan as proof of fund for my visa application ?
See here: www.canada.ca/en/immigration-refugees-citizenship/services/study-canada/study-permit/get-documents.html
Hello please can my sponsor take out to loan to sponsor me, and I would explain in my letter the large deposit in the bank statement was due to a loan, and submit loan documents if needed??
No I would not recommend that. That's almost like you getting a loan, showing that you can not afford to study in Canada, which can lead to refusal
Interested po sana ako to study in cad can you help me. Ty
Hi, you can contact us here and we can help, also there are lots of resources on our website and in the facebook group.
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🟢Ma’am naka apply po kami ng gf ko ngayon sa canada student ako sya ang commonlaw ko. Wala kaming enough funds na ma poprovide, pero may sponsor kami. May possibility po bang ma approve kami or sablay? TIA ❤
Hi,
it really depends on the details, how much funds do you have, how exactly can the sponsor support you...
Please contact us here and we can advise which program might suit you and lead to a post graduation work permit (if you are interested in that.
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💖💖💖💖💖💖💖💖💖
❤❤❤❤
Please can my brother use his personal business bank statement to sponsor me?
Not sure about the business bank statement but in general he can sponsor you. Make sure to explain well why and how he is sponsoring you, have a letter from him, bank statements, proof of funds etc.
I’m from bangladesh. Can my father’s business entity be my sponsor?
It can be. Make sure to provide clear proof of funds, letter from him how he is sponsoring you and why, etc.
PLEASE CAN YOU HELP ME WITH PUTTING TOGETHER MY DOCUMENTS TO SHOW A STRONG PROOF OF FUNDS GETTING MY G.C.M.S NOTE WOULD TAKE AT LEAST THREE MONTHS . WHAT DO YOU THINK ABOUT HAVING THE EQUIVALENT OF 10,000 CANADIAN DOLLARS( LIVING EXPENSES)IN NIGERIAN NARA SIX MILLION NARA IN BANK ACCOUNT
Hi,
if CAD 10000 is all your Proof of Funds that will probably not be enough. Depends on the length of your program, whether you have a sponsor, etc.
Please contact us here and we can have a look at your profile:
www.studyliveexploreca.com/slestarterkit
Pls my wife is applying for Canada student visa ..we are having a company together and we have a good bank account together ..can we use that bank statement as her sponsor...plus her own bank statement
She have a signature on that account too
Hi, as far as we have learned so far, that is not acceptable as POF. Part of the reason is that IRCC can not asses how liquid these funds are in the future, if the company has certain liabilities etc. What you can do is make owners withdrawals to her personal account and explain where the money came from in the letter, show the business as an income source etc.
Hope this helps