Proof of funds for Express Entry: amount, accepted accounts and mistakes to avoid

Proof of funds is one of the most misunderstood documents in Express Entry. It is not a sum to pay: it is money you must own, show and justify, to prove that you will be able to settle in Canada without help. Here are the amounts, the accounts IRCC accepts, and the mistakes that get Cameroonian applications refused every year.

Who must provide proof of funds?

Candidates under the Federal Skilled Worker Program and the Federal Skilled Trades Program. You are exempt if you are authorised to work in Canada and hold a valid job offer, or if you apply through the Canadian Experience Class. From Cameroon, proof of funds is therefore almost always required.

How much must you show?

The amount depends on the size of your family, including your spouse and children, even if they are not coming with you. 2025 scale: a little over CAD 15,000 for a single person, about CAD 19,000 for two, CAD 23,000 for three, CAD 28,000 for four. In CFA francs, that comes to roughly 6.8 million for one person, 8.5 million for two, 10.4 million for three. IRCC reviews these amounts every year: check the official page at the time of your application, and keep a margin.

Which accounts IRCC accepts

Money that is immediately available: current accounts, savings accounts, accessible term deposits, in your name or in your spouse's name. You prove the balance with official letters from your banks, on letterhead, listing your accounts, their opening dates, the current balance and the average balance over the last six months. Statements alone are not always enough; the bank letter is the key document.

What does not count

A house, land, a car: these are assets, not funds. A loan, borrowed money, a third party's money deposited the day before: IRCC looks at the history and spots a sudden deposit. Blocked funds, shares that have not been liquidated, tontine money with no bank trace.

The most common mistake in Cameroon

A large deposit one month before the application, with no explanation. The officer sees money borrowed for the occasion and refuses. If you receive help from family, get it early, keep proof of its origin (a written gift letter, the donor's statement), and let it sit in the account.

When must you have it?

When you create your profile, you declare the amount in good faith. When you submit the application, after the invitation, you prove it. And you must still have it when you arrive in Canada. Build it up from the start: it is often the proof of funds, more than the score, that sets your departure date.

Put figures on your project, item by item and at today's exchange rate: /check-list.html#couts — and get your profile assessed free of charge: /evaluation.html