Proof of funds basics
| Aspect | Canada (Express Entry) | Australia |
|---|---|---|
| Who needs it | FSW/FST (CEC and valid job offer often exempt) | Varies by visa; student visas require living + tuition funds |
| Amount | Set by IRCC per family size, updated yearly | Depends on visa/course; check current requirements |
| Format | Official bank letters/statements | Bank statements, loan/sponsor evidence where allowed |
| Key rule | Funds must be available and unencumbered | Funds must be genuine and, often, held for a period |
What usually counts (and what doesn't)
Readily available savings in your name (or jointly with a spouse) typically count. Large, unexplained last-minute deposits, borrowed funds you must repay immediately, or property that can't be liquidated may not. Officers look for genuine, stable funds.
Document it cleanly
Provide official bank letters stating account numbers, balances, currency, and the date opened, plus recent statements. Explain the source of large deposits. We help you present funds in the format each program expects.
Frequently asked questions
How much proof of funds do I need for Canada?
IRCC publishes required settlement funds by family size and updates them periodically. Check the current figure for your family size — and note that Canadian Experience Class and some job-offer cases can be exempt.
How recent must my bank statements be?
Provide recent statements (typically the last several months) plus an official bank letter. Some programs expect funds to have been held for a period, so avoid last-minute deposits.
Can I use a loan or sponsor?
Rules vary by visa. Some student-visa pathways accept education loans or sponsors with the right evidence; skilled-migration settlement funds usually must be your own, available funds. Verify the specific requirement.
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