Using a Proof of Funds (POF) service is a popular and effective way to meet the financial requirements for your visa or school application. It’s a straightforward process, but one question often causes confusion and anxiety: “When can the funds be withdrawn?” The timing of this step is not just a minor detail—it’s a critical factor that can determine the success or failure of your application.
Getting this wrong can lead to an instant rejection, wasting your time, effort, and money. At POF NG, we want to ensure you navigate this process correctly. Understanding the rules around the fund’s duration is key to a smooth and successful application.
To give you a straight answer: Proof of Funds arranged by a finance company can only be withdrawn or reversed after the mandatory holding period required by the embassy or school has been fully completed. For instance, if your visa application requires a bank statement showing funds for 3 months, the money must remain untouched in the account for that entire duration before it can be returned to the finance company.
Why is There a Mandatory Holding Period?
Embassies and universities insist on a holding period for a simple reason: they need to see proof of stable and accessible funds over time. A large sum of money that appears in your account one day and disappears the next looks suspicious. It doesn’t prove that you can actually support yourself during your stay abroad.
This requirement, often called “fund seasoning,” demonstrates that the money is genuinely available to you and isn’t just a temporary deposit to trick the system. For example, the UK Visas and Immigration (UKVI) typically requires funds to be held for at least 28 consecutive days. Other countries, like Canada, may look at financial history over several months.
The Dangers of Withdrawing Funds Too Early
The temptation to access or return the funds prematurely can be strong, but the consequences are severe. Withdrawing the money before the required period is complete is one of the fastest ways to get your application denied.
Here’s what can happen:
- Immediate Visa Rejection: Embassies perform thorough checks. If they verify your account and find the balance has dropped below the required amount or has been withdrawn, your application will almost certainly be rejected. This is a common reason why visa applications get rejected because of POF.
- Loss of Credibility: A rejected application due to financial misrepresentation can damage your credibility. It may lead to future applications being scrutinized more heavily or even result in a temporary ban from applying.
- Forfeiture of Service Fees: The fee you pay for a POF service is for arranging and holding the funds for the agreed-upon period. Withdrawing early violates this agreement, and you will not be refunded.
The Correct Timeline for Fund Withdrawal
To avoid any issues, it’s essential to follow the correct procedure. At POF NG, we guide our clients through this timeline to ensure full compliance with embassy and school requirements. Here’s how it works:
- Confirm the Duration: First, identify the exact holding period required for your specific application. Is it 28 days, 3 months, or 6 months? This information is usually available on the official website of the embassy or institution, such as the Government of Canada’s study permit page.
- Fund Placement: Once confirmed, our financial partner places the required amount into your designated bank account.
- The Waiting Game: The funds must now remain in the account, untouched, for the entire duration. For example, if the requirement is 3 months, the money sits in the account for that full period.
- Generate the Statement: After the holding period is complete, you can now request the official bank statement that covers the entire period. This statement is the document you will submit as your Proof of Funds.
- Fund Reversal: Only after the bank statement has been generated and the mandatory period has passed can the funds be safely withdrawn or reversed by the finance company according to your service agreement.
Following these steps ensures your financial documents are authentic, verifiable, and fully compliant. To learn more about the general process, you can read our guide on how Proof of Funds works in Nigeria.
Partner with an Expert You Can Trust
Navigating visa and admission requirements can be complex. The rules around financial proof are strict, and there is no room for error. This is why partnering with a reliable agent like POF NG is so important. We don’t just connect you with finance companies; we provide the guidance needed to ensure your application is successful.
We ensure that you understand the timeline and follow the rules precisely. Our process is transparent, secure, and designed to meet the standards of embassies worldwide, from the U.S. Department of State to European Schengen authorities. Financial stability is a cornerstone of any application, as explained by financial resources like Investopedia, and we help you demonstrate it correctly.
Conclusion: Patience is Your Best Strategy
So, when can Proof of Funds be withdrawn? The answer is clear: only after the mandatory holding period specified by your target institution or embassy has fully passed. Any premature action puts your entire application at risk. The key is to be patient and follow the process correctly.
If you need reliable, verifiable, and stress-free Proof of Funds for your visa or school application, we are here to help. At POF NG, we ensure your financial documentation is flawless from start to finish. Contact us today to get started on your journey abroad with confidence.
