Proof of Funds for Express Entry 2026: Amounts, Exemptions and Bank Letters
If you’re applying as a Federal Skilled Worker or Federal Skilled Trades candidate, IRCC wants to see that you can support yourself when you land. For a single person that means at least $15,263 CAD. If you’re applying through the Canadian Experience Class, you can skip this part entirely.
How much money do you need?
The amount depends on your family size. That means you, your spouse and your dependent children, even if some of them aren’t coming with you. People miss this one a lot.
| Family members | 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 extra person | +$4,112 |
These are the amounts IRCC set on July 7, 2025. They’re updated about once a year, usually in the summer, so check IRCC’s page before you create your profile and again before you apply. If the amount goes up while you’re in the pool, update your profile.
Who doesn’t need to show funds?
- Canadian Experience Class applicants.
- Federal Skilled Worker or Skilled Trades applicants who are authorized to work in Canada right now and have a valid job offer.
Even if you’re exempt, upload a short letter explaining why. It stops the system from treating the missing document as a gap.
What counts as funds
IRCC wants money you can actually use: chequing and savings accounts, fixed deposits, or investments you can turn into cash quickly. Funds in a joint account with your spouse count too.
What doesn’t count is the value of your house or other property, money you borrowed from someone, or anything you can’t access.
The bank letter
You’ll need an official letter from every bank where you keep money. It has to be printed on the bank’s letterhead and show:
- the bank’s address, phone number and email, plus your name
- any debts, such as credit cards or loans
- for each account, the account number, the date it was opened, the current balance and the average balance over the last 6 months
Screenshots and ordinary statements aren’t enough by themselves. You can add 6 months of statements as extra support, though.
Gifts and big deposits
A large amount that suddenly appears in your account gets a closer look. If family is giving you money, ask them for a signed gift letter that says how much it is and that you don’t have to pay it back. Keep a record of the transfer from their account to yours. Ideally the money should be in your account well before you apply.
The same goes for other big deposits, such as a property sale, a bonus or an inheritance. Keep the paperwork that shows where the money came from.
Where people slip up
- Counting only the family members who are travelling with them.
- Letting the balance dip below the minimum between the profile and the application.
- Borrowing money for a few weeks to make the balance look bigger.
- Getting a bank letter without the 6-month average balance.
See whether you can reach recent cut-offs before you start setting money aside.
Quick answers
Do I need proof of funds for the Canadian Experience Class?
No. CEC applicants don’t, even if they also qualify for the Federal Skilled Worker Program.
Can the money be in a bank in my home country?
Yes, as long as you can access it and the letter shows the balance. The amounts are in Canadian dollars, so leave some room for exchange rates.
Can I use my spouse’s savings?
Yes, if your spouse is coming with you. Include a letter from their bank too.
For everything else you’ll need, see the full documents checklist after an ITA.
