# Settlement Funds in Spouse's account



## KrisPOZ (Jan 29, 2014)

Hello Friends,

Good day!

In order to show the requisite amount towards settlement Funds we had saved the money in my Spouse's bank account. Is it acceptable by CIC as per the EE and OINP regulations to show the amount in my spouse's account, though I am the primary applicant and she is contributing to the CRS points as a spouse?

Thank you
Krishna


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## Auld Yin (Mar 10, 2009)

No, it is not acceptable. The funds must be in applicant's name.


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## KrisPOZ (Jan 29, 2014)

Auld Yin said:


> No, it is not acceptable. The funds must be in applicant's name.


Thank you Auld Yin, we had been saving up the funds over a period of time in my Wife's account, to show history. In your opinion, if I transfer it to a joint-account between my spouse and myself would that qualify?

And would the reduced history of the funds, as its going to be a different account, be an issue?


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## Auld Yin (Mar 10, 2009)

You would need to show ownership of the funds for at least 6-12 months.


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## KrisPOZ (Jan 29, 2014)

Auld Yin said:


> You would need to show ownership of the funds for at least 6-12 months.


Thanks, I guess I have no choice but to start as early with the funds moved to a different account. 

So would a joint account between my wife and myself be acceptable.


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## Auld Yin (Mar 10, 2009)

Yes, but you should be the lead name on the account.


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## KrisPOZ (Jan 29, 2014)

Auld Yin said:


> Yes, but you should be the lead name on the account.


Noted, thanks


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