Settlement Funds in Canada | Proof of Funds

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Settlement Funds in Canada | Proof of Funds

Frequently Asked Questions

What methods do Canadian immigration officials use to check proof of funds?

On the day when CIC inspectors examine your documents, your evidence of funds will be verified. They will do so by converting and verifying the fund in your local currency to the Bank of Canada's various rates. As a result, always ensure that you declare the correct amount to the authorities as your proof of funds.

Can I take a loan to show proof of funds?

The simple answer is no. The funds of the individual should be easily available, but this does mean taking a loan or borrowing money from other sources is valid.

How many months of bank statements do I need to provide with my application for a visa to Canada?

Original bank statements from your personal account for the previous six months, as well as payslips for the previous six months, need to be submitted.

How do authorities verify the documents' authenticity?

After receiving statements from applicants, authorities usually submit them to the authorized banks for verification. If the banks determine that a statement is not authentic, they consider it to be fake.

How can one be exempt from submitting settlement funds for the Canada CEC program?

You must attach a letter indicating that you have been asked to apply under the Canadian Experience Class or that you have a legitimate employment offer.

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Nafia Zuhana is an experienced content writer and IELTS Trainer. Currently, she is guiding students who are appearing for IELTS General and Academic exams through With an 8.5 score herself, she trains and provides test takers with strategies, tips, and nuances on how to crack the IELTS Exam. She holds a degree in Master of Arts – Creative Writing, Oxford Brookes University, UK. She has worked with The Hindu for over a year as an English language trainer.

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