Express Entry Proof of Funds 2025: New Minimums, Deadline & Bank Letter Template
If you’re planning to immigrate to Canada through the Express Entry system in 2025, understanding the Proof of Funds (POF) requirement is essential. Whether you’re applying under the Federal Skilled Worker Program (FSWP) or the Federal Skilled Trades Program (FSTP), the Canadian government requires you to demonstrate that you have enough money to support yourself and your family upon arrival.
What’s New in 2025?
On July 7, 2025, Immigration, Refugees and Citizenship Canada (IRCC) updated the minimum settlement fund requirements. These figures are revised annually based on 50% of Canada’s Low-Income Cut-Off (LICO) to reflect the rising cost of living.
Here’s the updated table:
| Family Size | Minimum Funds Required (CAD) |
| 1 | $15,263 |
| 2 | $19,001 |
| 3 | $23,360 |
| 4 | $28,362 |
| 5 | $32,168 |
| 6 | $36,280 |
| 7 | $40,392 |
| Each additional | $4,112 |
Deadline to Update Your Profile
If you’re already in the Express Entry pool, you must update your profile with the new proof of funds by July 28, 2025. Failing to do so could result in your profile being removed from the pool and deemed ineligible for future draws.
Updating your profile does not affect your original submission date or time, which is crucial in tie-breaker scenarios.
Who Needs to Show Proof of Funds?
You must provide proof of funds if you’re applying under:
- Federal Skilled Worker Program (FSWP)
- Federal Skilled Trades Program (FSTP)
You do not need to show proof of funds if:
- You’re applying under the Canadian Experience Class (CEC)
- You have a valid job offer and are authorized to work in Canada
Even if exempt, IRCC recommends keeping your funds updated, as the system may assess you for multiple programs.
What Counts as Acceptable Proof?
IRCC requires official letters from financial institutions where you hold your funds. These letters must:
- Be printed on the institution’s letterhead
- Include the institution’s contact details (address, phone, email)
- Include your name
- List account numbers
- Show date each account was opened
- Indicate current balance
- Show average balance over the past 6 months
- List any debts (e.g., credit cards, loans)
Funds must be readily available, unencumbered, and accessible. Real estate, borrowed money, or cryptocurrency do not qualify.
Sample Bank Letter Template
Here’s a simplified template you can share with your bank:
[Bank Name]
[Bank Address]
[Phone Number] | [Email Address]
Date: [Insert Date]
To Whom It May Concern,
This letter is to confirm that [Applicant’s Full Name] holds the following accounts with our institution:
- Account Number: [XXXXXXX]
- Account Type: [Savings/Checking]
- Date Opened: [DD/MM/YYYY]
- Current Balance: [CAD Amount]
- Average Balance (Last 6 Months): [CAD Amount]
There are no restrictions on the withdrawal of these funds. The account is in good standing and free from liens or encumbrances.
If you require further information, please contact us at the details above.
Sincerely,
[Bank Officer’s Name]
[Title]
Signature & Stamp
Final Tips
- Show more than the minimum if possible—it strengthens your application.
- Keep your funds in your account for at least 3–6 months before applying.
- Joint accounts are acceptable if you can prove legal access.
- Upload a letter of explanation if you’re exempt from the POF requirement.
