Proof of funds

[LooneyLuna]

Hello. Can someone please help with what I can use if I don't have a GIC? I plan to live on residence so is it okay to transfer my total fees of the first year to a Canadian bank account and show that as proof? What about subsequent years' proof, do current bank statements suffice?

 

[Mahmoudnasra]

is it okay to transfer my total fees of the first year to a Canadian bank account

Yes , and see below image

https://imgur.com/vqLkIST

 

[LooneyLuna]

Thank you very much. What about the following years or would one year be enough? I read they could reject you for not showing you could fund your subsequent years.

 

[Mahmoudnasra]

Thank you very much. What about the following years or would one year be enough? I read they could reject you for not showing you could fund your subsequent years.

I know that they demand a Minimum of 10000CAD$(living costs not including tuition fees ) for one year after this year u need to renew your permit and reapply with a new proof of funds .

 

[LooneyLuna]

Yeah I know that too but GIC money is given monthly and if I'm going to live on campus I need it the 10,000$ at the beginning so my plan was not a GIC but transfer tuition fees+residence fees to an account I have free access to. Do you think that'll work?

 

[Mahmoudnasra]

Yeah I know that too but GIC money is given monthly and if I'm going to live on campus I need it the 10,000$ at the beginning so my plan was not a GIC but transfer tuition fees+residence fees to an account I have free access to. Do you think that'll work?

Sorry i can't give you an answer because iam not sure TBH .

 

[LooneyLuna]

No problem. Thanks a lot.