6 month average balance

[ADteam]

Hi everyone,

I would like to know if the 6 month average balance for POF is each month's average balance for 6 months or 6 months combined?

I do not have the required balance for past 6 months. I have it from past 4 months. I am including the required documents to back up sudden jump in my balance. But that fund was in my joint account from June to September 24 and then transferred into my single account. As the account solely under my name is very new (opened on 16/09/2015) what should I do with average balance for that account?

Cheers

 

[Asivad Anac]

Hi everyone,

I would like to know if the 6 month average balance for POF is each month's average balance for 6 months or 6 months combined?

Combined. The logic being that CIC is keen on knowing if you had any suspiciously large credit transaction(s) into your account within the last 6 months which will be revealed by comparing your current balance and 6 months average balance.

I do not have the required balance for past 6 months. I have it from past 4 months. I am including the required documents to back up sudden jump in my balance. But that fund was in my joint account from June to September 24 and then transferred into my single account. As the account solely under my name is very new (opened on 16/09/2015) what should I do with average balance for that account?

Having this from June '15 onward wouldn't suffice. You will have to explain where the monies came in from in June as well.

Cheers

 

[mithunio]

Asivad, so if my 6 months average and current balance are perfect, then I don't need to explain where the money came from?

 

[ADteam]

I am including
the evidence of transfer from my parents and statements showing the bank transfer
gift deed certificate and affidavit from my parents

I think that should be okay? What is your opinion?