March 17, 2011

Settlement Funds Deposited in Banco Filipino

I have bank accounts in Banco Filipino which I used as proof of my Settlement Funds for my permanent residence visa application to Canada, should I worry?

At this point, you really don't have to worry. Let's just hope that Banco Filipino fix their problem before the Canadian Visa Office in Manila started to review your documents.

But in the event that your application was reviewed and Banco Filipino's problem is not yet resolved, then you may have a problem. Your application will not be refused right away, very unlikely. But the Visa Office may require to submit updated proof of readily available or unencumbered funds - excluding Banco Filipino bank accounts.

Related news: Banco Filipino blames BSP


Gateway to Canada is part of the Canadian Immigration Consultancy Group, the largest immigration consultancy firm in the Philippines. CIC started its operation in 1989. Clients of Gateway to Canada are represented by an IRCC Authorized Paid Representative.