List of Top Travel Proof of Funds Providers in Nigeria

Proof of fund is a financial statement from a financial organization or a sponsor stating an you are financially competent to sponsor yourself during your study period in the country! This is one of the most important documents for foreigners intending to relocate or migrate as visa approvals will not be granted without it.

One of the major issues for most travelers coming from third world countries is that they are often unable to afford this heavy sum of money, but then that is why they are proof of funds service providers.

Who Are Proof Of Funds Providers

These are organizations, financial institutions, and businesses that make it possible for intending travelers to secure a proof of fund certificate even though they don’t have such a huge sum of money in their bank accounts.

These providers are paid a certain amount of percentage to issue such certificates.

Bank: Banks offer services like offering proof of funds documents to their customers who wish to relocate to foreign countries, this is also a profit-making path in the bank because there is usually a percentage that is required to pay for the proof of funds document before issuing it. Banks like the commercial, central, microfinance banks, and other investment banks all offer proof of funds documents.

Financial Organization/institution: Most of these financial institutions provide proof of funds to immigrants and usually get a good percentage from it.

Why Is Proof Of Funds Important For Migrants Going To Canada?

There are many kinds of people migrating to Canada but this article is focused on the importance of proof of funds for Nigerian migrants.

These are listed below

1. Proof of funds is important as it indicates you can support yourself during your stay in Canada.
2. It shows the visa officer/immigration at the point of entry that you (immigrant) are not a destitute or a burden to the country.
3. It also indicates that you will be able to integrate perfectly without exposing yourself to the harsh effects of being broke.

Interesting Facts About Proof of Funds

We are going to highlight some interesting points to note if you intend to relocate to Canada

But since there are two major categories of foreigners going into Canada, we will try to help you understand better.

• For Students

As a student, your proof of funds is such that would cover both your tuition fees and your living expenses, the proof of funds required by a student all depends on the school tuition fee and living expenses for the period of your study, the proof of funds may vary depending on the amount of your tuition fees because every institution is usually different the average amount that is required by a student in the proof of funds is about CAD 20,635 in 2024, there was an increase from the previous CAD 10,000 this was due to the recent visa requirements to enable a stable living in the country.

• For Permanent Resident

As someone coming in as a permanent resident your proof of funds is such that should cover your living expenses for 1 year, the essence is that you will have sufficient funds to support yourself till you can secure a job or source of income, the government will expect you to have a proof of fund of CAD 14,000 there will be an addition of CAD 3456 if you are coming in with a dependent, the higher your family members or dependent the higher the sum of money needed to prove you can keep up with the living expenses.

How To Choose The Right Proof Of Fund Provider In Nigeria

This is a very crucial aspect before choosing a proof of fund provider you need to be wise to avoid being defrauded, so many people have been ripped off through this aspect, when choosing a proof of fund provider in Nigeria you have to make sure they are well known and has a good reputation in the society, this help you from being scammed or misled.

These are the following steps to be put into consideration when choosing the right proof of fund provider in Nigeria 2024

1. Accreditation: Every reputable business or organization has standards and accreditation that have a backup, so you will check if the provider is been accredited by any financial organization in Nigeria.
2. Trust: This is the reputation of the provider, before embarking on anything carry out investigations, make enquiries check reviews on the provider, and research their organization, this will help give you more insights about whether the provider is trustworthy.
3. Experience: Experience shows how long the provider has been in the business, experinece is very important when searching for a trustworthy provider because it gives you confidence in who you will be working with to avoid being scammed.
4. Expertise: This also shows the provider’s competence, you don’t want someone who is not competent so this is very important when searching for the right proof of fund provider in Nigeria.
5. Fees: some providers’ charges are very high so it is important to look for an affordable and reliable proof of fund provider, this will save you from paying more for proof of fund documents.
6. Contract: The contract should be clear and concise, this will enable straightforward agreement, the contract is very important to prevent any form of conflict.
7. Recommendations: This is the best because someone that is been referred is supposed to have done a good job of being referred, this is the most important part of choosing a trustworthy provider, it will relieve you of the stress of looking for a trustworthy provider, so it better to ask for recommendation from others that have gone through that stage, or have a trustworthy person.

Top Proof Of Funds Providers In Nigeria

Finding the right proof of funds provider is a step closer to obtaining a visa, this selection is based on thorough research, they have built a good reputation for themselves which is why they are the top proof of funds providers in Nigeria 2024.

1. Glow Visa: This agency/provider is one of the most trustworthy in Nigeria, they provide an excellent customer support system, help in processing documents, offer proof of fund savings account, and documents to be signed with a Contract.
2. Proofoffund.ng: The major aim of this organization is to give you full support, which includes providing proof of funds with a flexible percentage.
3. Edfin MicroFinance Bank: They offer proof of funds to their customer who plans on relocating to foreign countries, this is a very trustworthy method that can help people from being scammed.
4. Loanspot: This provides a good customer support system, and provides proof of funds documents, and also a flexible contract.
5. Fundall: it’s known for processing Proof of funds letters, processing bank statements, and also helping provide payments for upfront tuition fees.

 

Conclusion

Proof of funds is a visa requirement, to avoid being defrauded you need to conduct good research to get a reliable and trustworthy provider, also ask about the fee for obtaining proof of funds from different proof fund providers, this is to avoid being overcharged for the proof of funds documents, we have given a list of some top proof of fund providers in Nigeria, it’s now left for you to inquire and do more research before trusting your funds with a provider. Banks have quite an affordable percentage compared to other proof of fund organizations /agencies, so it is better to seek advice from your bank manager concerning proof of funds before visiting other agencies, apart from the flexible bank charge on proof of funds, they are the most trustworthy when it comes to proof of funds, so it is more preferred than other agencies.