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Painter lady

Advice needed from recent applicants

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Painter lady

Can someone who recently submitted their application please help me out here?! Please share, how exactly did you show the balances of ALL your account for six months? What exactly did you ask the bank to do for you? If you bank with ABSA and have a contact of someone who knows how to do this, even better! After a whole day of uploading documents, we feel a bit overwhelmed at this stage.

Edited by Painter lady

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GerdaT

Hi @Painter lady, I can share what we did, but we havn't received our PPR... so I'm not 100% confident that it will be accepted by CIC.

We wrote a letter that explained a table that listed all our accounts, with the closing balances for the previous 6 months. After the letter with the table we added a letter from the institution confirming the account and the statements for the balances indicated in the table. (Hope that makes sense?) 

On the table we calculated the sum of the closing balances for the last month, and converted the total from Rand to CAD at the relevant exchange rate.

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Painter lady

Thanks @GerdaT. Was the bank helpful in this regard? How quickly did they deliver? Sorry for the silly questions, I think I'm tired and over stimulated by all this paperwork.

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GerdaT

@Painter lady. Well, some institutions were more helpful than others. Our bank (Investec) sent all our doc's within an hour. Whereas our Pension and Provident (Sanlam) took more than a week. Those were the 2 extremes.

We listed all our bank accounts, security accounts, pension and provident accounts and car loan. Investec gave a letter confirming our bank accounts and car loan. For the other accounts, I only had statements to include. They  wouldn't give me a letter confirming the accounts. According to them, statements were all they could give. 

As mentioned before, I'm not 100% sure that it will suffice...?

Edited by GerdaT
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Painter lady

Thank you very much @GerdaT. I'm sure what you did will be just fine.

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Ribsy

@Painter lady.  Follow what @GerdaThas indicated above.  I was also with Absa.  Important to highlight which account you are using to demonstrate sufficient proof of funds as this is their main priority.  I'll also add what we included:

  1. Index document to indicate the documents included in the scanned pack with each page numbered sequentially thereafter.
  2. Affidavit from accompanying spouse if the accounts aren't in Main Applicant name
  3. Absa Bank account summary in a MS word table aligned with a screen printout from Online Banking
  4. Absa bank confirmation detailing when that account was opened (stamped by Absa branch) and potentially what the account is used for. 
  5. Detailed statement for each account for the 6 months (stamped by Absa branch)
  6. Total Assets and Liabilities Summary prepared in MS Word, highlighting any other major assets or liabilities that will be disposed of on successful application being approved and prior to emigration i.e. house, motor vehicles, savings or investment policies. 

Ours came to a total of 44 pages with some Offshore Investments too. 

Contact your Private Banker if you have one.  I engaged with mine at The Glen branch, Oakdene. 

Good luck...

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Painter lady

Thanks @Ribsy, will do.

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M-N
21 hours ago, GerdaT said:

Hi @Painter lady, I can share what we did, but we havn't received our PPR... so I'm not 100% confident that it will be accepted by CIC.

We wrote a letter that explained a table that listed all our accounts, with the closing balances for the previous 6 months. After the letter with the table we added a letter from the institution confirming the account and the statements for the balances indicated in the table. (Hope that makes sense?) 

On the table we calculated the sum of the closing balances for the last month, and converted the total from Rand to CAD at the relevant exchange rate.

Granted we were in Canada on TWP at the time but this is exactly what we did.  The lady didn't really know what we needed to we suggest the above. We attached out bank summary too. Scan everything into one PDF, attach and Bob's your uncle. :) 

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Talent79

If you are banking with FNB, when you log online, the page gives you an option to create your balance sheet, which you can take to the branch for stamping and then you attach the statements for the listed accounts 

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iTee23

@Talent79 I tried having a look at the FNB Online, but cant find anywhere to create a balance sheet.

Also, say (as in my case) you have 2 credit card accounts, a savings account and a check account. The required funds is in the savings account. Do I print the 6 months statement of only the savings account, or the 6 months statement of each the accounts listed - In my case the 4 accounts.

I'm starting the process sometime this month, so I am getting prepared.

Thanks

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Talent79

@iTee23, go to where it says My Money

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