Proof of funds (POF) is a document that demonstrates that a person or entity has the complete funds needed for a specific transaction or request.

The document is typically presented in the form of a bank statement and the purpose is to ensure that the funds required to complete the transaction are both accessible and legitimate.

In the case of a POF for visa application, you must demonstrate that you have sufficient funds to cover, for example, your course fees and living expenses if you are travelling for study, work, vacation, or for
any other reason. This is asides from the amount you would have paid for a visa application and the full or partial tuition fees of the university you have enrolled in if it’s a student visa application.
People applying for some visa categories are required to submit such financial documents to show that they meet the financial requirement.
In the case of Canada and other countries, for instance, the funds must be readily available to you, plus you cannot use the equity on real property as proof of settlement funds.
Another important point is that the amount of money you need depends on the size of your family. To calculate the size of your family, you must include yourself, your spouse or partner, your dependent children and your spouse’s dependent children.