Kindly clarify why Mutual Funds investments are not acceptable. I understand that most mutual fund companies are subsidiaries of a financial institutions (mostly banks).
Hi, mutual funds are not acceptable for reasons best known to CIO. I guess the loss of many mutual funds during the financial crisis may have informed their exclusion by CIO but no reason is given to us. What the Document Checklist express states is accepted as POF are as follows: Provide proof of unencumbered and readily transferable funds in a convertible currency available for settlement in
Canada:
• current bank certification letter; or
• evidence of savings balance; or
• fixed or time deposit statements.
To avoid return of your application, it's best to just go with what they requested for, all the best.
Hello CalgaryChic, cic has specified the documents they want as POF. Going outside of this is asking for trouble. So please try and stick to the requirement. All the best.
I want to ask, my funds are in Treasury bills (91 days), the bank gave me confirmation letter, stating the amount and other detail, I hope this will be allowed for POF? I specifically bid for 91 days so that I don’t have to wait for long to get the money and then rebid when it mature.
Hi, mutual funds are not acceptable for reasons best known to CIO. I guess the loss of many mutual funds during the financial crisis may have informed their exclusion by CIO but no reason is given to us. What the Document Checklist express states is accepted as POF are as follows: Provide proof of unencumbered and readily transferable funds in a convertible currency available for settlement in
Canada:
• current bank certification letter; or
• evidence of savings balance; or
• fixed or time deposit statements.
To avoid return of your application, it's best to just go with what they requested for, all the best.
I want to ask, my funds are in Treasury bills (91 days), the bank gave me confirmation letter, stating the amount and other detail, I hope this will be allowed for POF? I specifically bid for 91 days so that I don't have to wait for long to get the money and then rebid when it mature.
Hello Braindove, treasury bills confirmation letter is not one of the three accepted POF by cio. It's best you go with what cio wants to avoid them rejecting your application.
"Provide proof of unencumbered and readily transferable funds in a convertible currency available for settlement in
Canada:
• current bank certification letter; or
• evidence of savings balance; or
• fixed or time deposit statements."
Hello Braindove, treasury bills confirmation letter is not one of the three accepted POF by cio. It's best you go with what cio wants to avoid them rejecting your application.
"Provide proof of unencumbered and readily transferable funds in a convertible currency available for settlement in
Canada:
• current bank certification letter; or
• evidence of savings balance; or
• fixed or time deposit statements."
BabyBal. I am sorry for the late response.
I did IELTS twice. I did one 3 years ago in anticipation of the 2013 May FSW but my NOC was not listed for 2013.
then my speaking test came up within a week after my main tests. In 2014 my NOC got listed but my IELTS had expired so I had to do another IELTS. this time, my speaking test was taken about 4 days before my main test. The Speaking test date is unpredictable but falls within the 7 days before or after the main tests. usually the speaking test lasts for about 14 minutes and your conversation with the test official will be recorded so they are never in a hurry. thank God I was able to make an acceptable score again. Because of the huge number of IELTS applicants, about 50 people may be taken per day so you never can tell which date you will be fixed. just leave the 2 weeks around your main tests free (1 week before the main test and 1 week after)because your speaking test date may come in 3 or 4 days notice.
speaking was 2 days before the reading, listening and writing tests. I received the schedule notice about 10 days before. There was about 30mins delay.
There is no specific standard for this as exchange rates fluctaute. What you can do is base your benchmark with any of the reliable sources online. I used www.xe.com which is a Canadian company and ensure your naira is well above the required for your application to accommodate fluctuations. Cheers.
hi peeps, My 1kobo is use CAD bank draft, it is still your guaranteed and safest means. Please contact GTB, Plural house, Oyin Jolayemi, VI, I hear you need to open a GTB dorm account. CC is more risky, you have invested so much in your application than you lose out (God forbid!) over changing cc rules...
Hi,I just got my IELTS report speaking-7.5,writing-7,listening-7,reading-6.I am preparing to send my application this month.hope it's good enough and not too late?
Im a strong advocate of Demand draft maybe because i have seen apps rejected due to payment charges. Please use a Draft, a lot of people obtained Canadian draft from the Gtbank, Oyin Jolayemi branch, you will need to open a dorm account. ( Note Im not a staff o I Just want my people here to make it to CA...
God bless.
