I've seen different threads with different information regarding of Proof of Funds (POF) so would like some confirmation once and for all. My bank balance is low on cash as I have most of my money in stocks and pension fund. So besides the bank balance, can I submit investment portfolio balance (using indicative market value) and pension fund balance as my POF? Or is it better to cash them out first to make my bank balance high?
Your investment portfolio balance and pension fund balance are not recognised proof of funds. It would be best to convert them to cash and moved to your bank account, print your statement and use that instead. Or fix your money in a time deposit and use the deposit certificate. Better move quickly, others are applying right now. All the best.
I've seen different threads with different information regarding of Proof of Funds (POF) so would like some confirmation once and for all. My bank balance is low on cash as I have most of my money in stocks and pension fund. So besides the bank balance, can I submit investment portfolio balance (using indicative market value) and pension fund balance as my POF? Or is it better to cash them out first to make my bank balance high?
pension fund is accepted as POF at the initial stage. but then again it may vary IO to IO. so the better approach is to get together all the money in bank accounts in your name. and if u put huge money in a single account at a single time, it is better to explain or show the back track of that money, such as stock or pension fund etc.
pension fund is accepted as POF at the initial stage. but then again it may vary IO to IO. so the better approach is to get together all the money in bank accounts in your name. and if u put huge money in a single account at a single time, it is better to explain or show the back track of that money, such as stock or pension fund etc.
On this topic still, I tried to look through all information I can find, and realize right in the official guide/ description of POF, they do recognize stocks as POF (please correct me if my interpretation is wrong).
"These funds could be in the form of:
. cash
. documents that show property or capital payable to you (such as stocks, bonds, debentures, treasury bills, etc.) or
. documents that guarantee payment of a set amount of money, which are payable to you (such as bankers’ drafts, cheques, travellers’ cheques or money orders)."
I know having cash will be much better, however it will take at least one week to have my cash balance updated and printed out after my stocks are sold, and we all know time is gold now :'( Has anyone here submitted portfolio balance as POF and got accepted? Just want to know your opinion before I made my decision.
So is having the title to a motor vehicle worth $6-8000 market value (which I intend to sell before I leave to come to Canada) considered proof of funds?
So is having the title to a motor vehicle worth $6-8000 market value (which I intend to sell before I leave to come to Canada) considered proof of funds?
