Settlement Funds How long to remain in Bank?

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Subject: Settlement Funds How long to remain in Bank?
  Dear Members,

I plan to attach my Bank statement showing the Funds to support me, spouse and two children.

CIC may take few months or even a year to finalize case and to confirm the bank for availibity of funds.

Do I need to keep funds intact till that time? Cant I use it before the decision has been made?

Quite confused in this issue.

[17-11-2009,07:57]
[***.82.52.211]
New Bee
(in reply to: Settlement Funds How long to remain in Bank?)
Yes, of course you can use your own money; the point of CIC checking on sufficient funds is to ensure not exact dollar figures but to ensure that you can sufficiently support yourself (and your family) when you relocate. You will likely be asked to show current bank statements when you land as well, and if there are concerns that you are manipulating your numbers or the money isn´t actually your own, they may check more than once.

This kind of question comes up so often, and it always concerns me. The truth is, Canada is an expensive country to live in, and when you come here you will be starting your new life all over. You will automatically accumulate so many charges--for basic things like cable and phone hookup, to rent or mortgage down payments, to replacing essential items you didn´t bring with you, to private insurance if your province has a wait time, to car registration and possible drivers licence fees... Starting over costs real money, and it´s up to you--not CIC--to make sure you are prepared. Add to the list that jobs aren´t easy to come by and wages relatively low, and I sincerely hope that you´ve given enough thought to your financial situation as it will apply to your real life, and not just to what CIC "wants" to see.

[17-11-2009,10:50]
[**.252.115.196]
wannabecanadian
(in reply to: Settlement Funds How long to remain in Bank?)
very well said Wannabe.

I noted a recent immigrant (4 months into Canada) already wondering how to collect welfare because they were burning through their settlement money.

needless to say, I was a little burned too!

[17-11-2009,14:12]
[***.5.54.139]
Sharon
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