Youth

For the young people to gather and chat like only they can!

71 topics in this forum

  1. all about dogs

    • 20 replies
    • 5,487 views
  2. Enige tieners in die Okanagan?

    • 0 replies
    • 704 views
    • 20 replies
    • 2,116 views
  3. Gesels oor Kanada

    • 12 replies
    • 3,189 views
  4. Friends

    • 6 replies
    • 1,893 views
  5. Hi daar

    • 1 reply
    • 1,248 views
  6. Jong Mense!

    • 17 replies
    • 4,095 views
  7. Friends!

    • 0 replies
    • 668 views
  8. 17+ SA teenagers out there

    • 5 replies
    • 1,369 views
    • 1 reply
    • 1,890 views
  9. Teens in Kanada??

    • 14 replies
    • 6,021 views
  10. Tieners tussen 13 en 15 jaar oud???

    • 0 replies
    • 878 views
    • 0 replies
    • 801 views
  11. Moving to Canada

    • 3 replies
    • 1,746 views
  12. Help

    • 22 replies
    • 2,262 views
  13. Katimavik

    • 1 reply
    • 1,288 views
  14. What do teenagers like in Calgary?

    • 0 replies
    • 1,820 views
  15. 6-8 year Boys clothing

    • 0 replies
    • 1,108 views
  16. New School Year

    • 8 replies
    • 1,775 views
  17. Hello

    • 4 replies
    • 1,542 views
  18. Canada can be fun...

    • 14 replies
    • 5,301 views
  19. Haas Das se Nuus Kas

    • 6 replies
    • 1,512 views
    • 1 reply
    • 1,000 views
  20. Music mp3s

    • 6 replies
    • 1,693 views
  21. Hi Angela

    • 1 reply
    • 1,399 views
  • 5 Most Recent Posts

    • PhilipCX
      @logan No that is perfect. I'm sure IRCC won't be too fussy about it if the institution can give you a letter that you have immediate access to it.  
    • logan
      When I say unit trust, I mean 'money market' in particular...I'm not too familiar with financial terminology, but from what I was told a money market fund is a unit trust, and the term unit trust would be understood by the IRCC. I don't know if unit trust could be some other sort of fund. But, I used the term unit trust to refer to my money market account, and we had no hiccups.
    • PhilipCX
      We are also going to use a unit trust account (Alan Gray) for our POF. So you've used it without any hiccups? 
    • logan
      Hi @Yolandib, We followed most of the advice on the forum, keeping the following in mind: PoF must show unencumbered funds. We didn't bother asking FNB for 6-month averages -- most people on the forums complain that the banks have no idea what to do unless you spend time at a branch explaining, or if you type up the letter yourself, and then go to the branch to get it signed. Trying to avoid lengthy lines and the tedium of explaining to a bank officer what we had in mind, we did the following (our PoF is a unit trust account): 1) Got 6 months of statements of all the accounts that were material to our proof of funds account: FNB check accounts -- showing funds deposited into the unit trust. FNB Credit card statements to explain our short-term liabilities were covered. 2) 6 Months of statements for the PoF. We also did a special power of attorney since the PoF account is in my wife's name, and added the PoA, and statement showing acknowledgement of the PoA from the unit trust manager. 3) Got a statement of my provident fund, attached the SARS tax-tables that shows how to calculate withdrawal benefit, as well as a valuation of home, and a letter from FNB showing our home-loan status and owed-amount. 4) Provided the much referred to (on this forum) excel sheet (which is controversial -- some like it, some don't) which showed a summary of our financial standing. This included our PoF account: liquid assets (only unencumbered, no investment accounts), provident fund standing (using tax-tables), fixed asset valuations (and loans), movable assets (and trans-union valuation). 5) In our LoE, we didn't bother to explain any money moving between accounts -- we reasoned that 6 months of detailed statements would explain the movements and show consistent income and transfers, i.e. no "sudden windfalls" which could raise flags. We had no follow-up questions, and our application was approved. I wouldn't presume the provide you with instruction on how to complete your application, but I thought I would share what worked for us. My approach was basically simple: show all accounts material to the PoF, the PoF, and show that the funds are unencumbered. All the best!    
    • Yolandib
      Thank you for the advice. The money is currently in a Savings account, and according to FNB they only give account confirmation letters for Cheque accounts. We have decided to transfer the money to the Cheque account and just explain in the LOE that we transferred it because of this. We are attaching the statement from the pension fund and referencing SARS website to explain how we calculated the After Tax amount. So We are attaching the Pension fund statement, and transaction histories and interim statements for the Savings account. We will then also attach a confirmation of account letter for the Cheque account after we have transferred the money.    Do you think that will help?