Proof of funds after Masters in Canada

[Aka_31]

Hi! I am new to this community and I’ve come across some really helpful answers on this thread. I am hoping someone would be able to shed some light on this topic -

I have an Indian HDFC bank account with money I have saved up from my salary (I saved up above the limit of 13K CAD required by IRCC). I am about to head to Canada August 2022 for my Masters and I plan on opening a Canadian bank account and transferring the money from HDFC bank account to this Canadian bank account. I plan on applying for my PR through FSW in August 2023 once I complete my Masters.
While showing proof of funds, do I have to explain how I have this money in my Canadian bank account in just a year considering I am not working while being a student in Canada ?
Should I show proof that this amount was transferred from my HDFC account a year prior and that is how I managed to have this balance in my Canadian account and maintained it during my Masters to show as proof of funds?
In addition, if I wanted to put this money in a GIC instead of just storing it in the Canadian bank account, would this be fine to show as Proof of funds?

 

[IMMIgroup]

A receipt for your transfer of funds would be helpful, yes. It shouldn't be a problem, but check with your bank in Canada once you're here. They have GIF programs and bank accounts specially tailored to international students like yourself.

 

[paulinehepburnzpe37]

Hi! I am new to this community and I’ve come across some really helpful answers on this thread. I am hoping someone would be able to shed some light on this topic -

I have an Indian HDFC bank account with money I have saved up from my salary (I saved up above the limit of 13K CAD required by IRCC). I am about to head to Canada August 2022 for my Masters and I plan on opening a Canadian bank account and transferring the money from HDFC bank account to this Canadian bank account. I plan on applying for my PR through FSW in August 2023 once I complete my Masters.
While showing proof of funds, do I have to explain how I have this money in my Canadian bank account in just a year considering I am not working while being a student in Canada ?
Should I show proof that this amount was transferred from my HDFC account a year prior and that is how I managed to have this balance in my Canadian account and maintained it during my Masters to show as proof of funds?
In addition, if I wanted to put this money in a GIC instead of just storing it in the Canadian bank account, would this be fine to show as Proof of funds?

It is important to provide a clear source of funds to demonstrate financial solvency. In your case, indicating that the amount was transferred from the Indian account a year earlier will be helpful. This will highlight the stability of your finances and their source.

 

[paulinehepburnzpe37]

Hi! I am new to this community and I’ve come across some really helpful answers on this thread. I am hoping someone would be able to shed some light on this topic -

I have an Indian HDFC bank account with money I have saved up from my salary (I saved up above the limit of 13K CAD required by IRCC). I am about to head to Canada August 2022 for my Masters and I plan on opening a Canadian bank account and transferring the money from HDFC bank account to this Canadian bank account. I plan on applying for my PR through FSW in August 2023 once I complete my Masters.
While showing proof of funds, do I have to explain how I have this money in my Canadian bank account in just a year considering I am not working while being a student in Canada ?
Should I show proof that this amount was transferred from my HDFC account a year prior and that is how I managed to have this balance in my Canadian account and maintained it during my Masters to show as proof of funds?
In addition, if I wanted to put this money in a GIC instead of just storing it in the Canadian bank account, would this be fine to show as Proof of funds? If you decide to invest in a GIC, this may also be included in your proof of funds, highlighting your commitment to responsible financial management. I had a problem that I was interested in canada bonuses, I found information about no deposit bonus casino canada 2024 here. There was no way I could prove that I was financially secure. Just no one believed me and it really infuriated me. Somehow I got out of this situation.

Have you found the answers for yourself?

 

[Amir]

Yeah, you’ll likely need to show the origin of your funds, especially since you won’t have Canadian income during your studies. It’s a good idea to keep records of the transfer from your HDFC account-like transaction receipts and past bank statements—so you can show that the money came from savings back home.