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Proof of Funds advice

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Hey guys, I've been silently following this forum since we first decided to go over a year ago. In July my wife and I got our Invitation to Apply in the Federal Skilled Workers class.

Most of our paperwork is finished and uploaded but proof of funds seems to be a lot more vague. It's difficult to find examples because obviously nobody wants to share their finances.

We have enough funds in our bank accounts and an investment account. She's the main applicant.

So if anyone has any advice on any of the following points it'd help a lot:

  1. What format did you use? Did you have a cover letter breaking down your finances? What should I say? How much detail should I go into? Should I make a table of all our accounts for the last 6 months?
  2. Did you include any other pages other than a cover letter, proof of funds letter, and 6 months statements?
  3. Regarding our bank accounts, are eStatements fine or should I get stamped statements? For our investment account are quarterly statements fine?
  4. We've visited 2 ABSA branches and one manager straight up told us they don't do proof of fund letters. What should we do?
  5. Am I missing something?

Everything has gone very smoothly up until now and I'm worried I mess this up.

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You can just search “Proof of Funds” in the main page.  There are a lot of helpful tips and tricks it should answer all your questions.

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Hi @Thermisto,

To answer your questions, based on our own application:

1) We never provided a cover letter outlining all our finances - but this is definitely worthwhile to do, especially if your money is held in multiple accounts/funds. This will definitely be helpful for the case officer reviewing your file. 

2) Our funds were all in my husband's bank account, although I was the main applicant. We provided six months' bank statements along with a letter from the bank listing all the accounts, when they were opened and also that I had full access and signing power over the accounts. For any large deposits showing on the bank statement, we provided supporting documents e.g. deed of sale of our house, pension pay out statement etc. - basically to show the officer that the money is in fact ours and not borrowed.  

3) Provide stamped statements, so even if you print them from your online account, make sure you take them into the bank to be stamped.

4) You just need to get the bank to provide a letter listing all your accounts, when they were opened and who has access to them - all banks should have a standard template for this, and some banks even allow you to print a generic letter from your online profile.

5) That should cover it - you basically need to prove that you have sufficient funds, that they are easily accessible and that they are in fact yours and you haven't borrowed them from anyone for the purposes of immigration.

Good luck!!

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