₦airaland Forum

My friend wants to travel and he's trying to get proof of fund. I have like $11,500 I can give to him but I'm not sure how to go about it without risk of not getting my money again when time comes. You know people can be funny. I don't relate much with bank people and I don't want to involve other people to avoid some thinking I have so much money to give away. I'm still struggling but we thank God for life. Please advise

Joyful365:
My friend wants to travel and he's trying to get proof of fund. I have like $11,500 I can give to him but I'm not sure how to go about it without risk of not getting my money again when time comes. You know people can be funny. I don't relate much with bank people and I don't want to involve other people to avoid some thinking I have so much money to give away. I'm still struggling but we thank God for life. Please advise

Love needs to be Balanced with wisdom!

Does your friend know that you have this amount?

Did you ever promise to help him/her in this endeavour?

If you have no explicit agreement to offer assistance when needed and you never informed him about the exact amount you have, then its better you keep quiet and put your hands in your pocket.

But if the love you have for your friend is strong then only give what you can afford to lose. Wisdom is necessary at this point in your relationship with your friend.

Joyful365:
My friend wants to travel and he's trying to get proof of fund. I have like $11,500 I can give to him but I'm not sure how to go about it without risk of not getting my money again when time comes. You know people can be funny. I don't relate much with bank people and I don't want to involve other people to avoid some thinking I have so much money to give away. I'm still struggling but we thank God for life. Please advise

Proof of funds does not mandate you give your friend the physical cash. Would a statement of account alone not prove adequate ? You can tell your friend it is business funds or life savings and that you can provide statement of account as POF, not necessarily give outrightly.

Sp33i:
Proof of funds does not mandate you give your friend the physical cash. Would a statement of account alone not prove adequate ? You can tell your friend it is business funds or life savings and that you can provide statement of account as POF, not necessarily give outrightly.

I can give him my statement of account as POF but the statement will bear my name and details, so it may not be acceptable for the purpose cos according to how he explained it, he needs to show proof that HE has the required amount for a certain period in HIS account. My concern is putting the money in his account is risky if he later refuses to return it. I don't mind helping as long as I have a way to control the amount to ensure he doesn't withdraw it for any purpose.

HeatSeeker:
Love needs to be Balanced with wisdom!

Does your friend know that you have this amount?

Did you ever promise to help him/her in this endeavour?

If you have no explicit agreement to offer assistance when needed and you never informed him about the exact amount you have, then its better you keep quiet and put your hands in your pocket.

But if the love you have for your friend is strong then only give what you can afford to lose. Wisdom is necessary at this point in your relationship with your friend.

We're not in a relationship and love is not influencing my decision. I just want a way to control the risk. If there's a way then I don't mind helping.

Joyful365:
We're not in a relationship and love is not influencing my decision. I just want a way to control the risk. If there's a way then I don't mind helping.

Read to understand and not to reply. It will do you a lot of good.

Joyful365:
My friend wants to travel and he's trying to get proof of fund. I have like $11,500 I can give to him but I'm not sure how to go about it without risk of not getting my money again when time comes. You know people can be funny. I don't relate much with bank people and I don't want to involve other people to avoid some thinking I have so much money to give away. I'm still struggling but we thank God for life. Please advise

He can open an account with Stanbic-IBTC Asset Management. He should then obtain a lien form and complete it with your details, authorizing them to put a lien on the funds in the account in your favour. Get a lawyer to draft a loan agreement with the funds in the account as security. Then transfer the funds to his Stanbic-IBTC Investment account. The funds should be invested in short term money market instruments (treasury bills) with instruction to rollover on maturity.

Stanbic-IBTC Investment account statement is accepted by embassies.

Joyful365:
My friend wants to travel and he's trying to get proof of fund. I have like $11,500 I can give to him but I'm not sure how to go about it without risk of not getting my money again when time comes. You know people can be funny. I don't relate much with bank people and I don't want to involve other people to avoid some thinking I have so much money to give away. I'm still struggling but we thank God for life. Please advise

AI advice

You're absolutely right to be cautious. Lending someone money—especially a large amount like $11,500 for proof of funds—can be risky, even if it's a trusted friend. Here’s a clear breakdown of safe ways to help, alternatives, and protecting yourself legally and discreetly:





Method B: Statement Sponsorship Letter

Keep the money in your own account.

Provide an official sponsorship letter saying you’re supporting their travel.

Attach your bank statement.


> ✅ No cash leaves your hand.
❌ Some embassies may prefer proof in the applicant’s name, not a sponsor’s.




---

⚠️ Option 2: Transfer the Money, But Protect Yourself

If you decide to actually transfer the money to your friend's account, protect your agreement in writing.

How:

1. Loan Agreement Document
Draft a simple Loan Agreement stating:

The amount ($11,500)

The purpose (travel proof of fund)

The repayment deadline

Penalty for default (optional)

That it’s not a gift.



2. Get a Signature & Witness

Both of you should sign.

If possible, use a neutral witness (even if not a lawyer).

You can also record a video agreement for backup.



3. Add a Post-Dated Cheque or Promissory Note

This shows intent to repay on a certain date.




> ✅ Helps in legal disputes if he refuses to pay. ❌ Still depends on trust.




---

❌ What NOT to Do

Don’t give cash without proof (no receipts or transfer trail).

Don’t rely on word of mouth.

Avoid allowing the money sit in their account for too long without an agreement.



---

💡 Alternative Approach (If You Want 0 Risk)

If you're not sure you want to lend the full amount:

Consider:

Lending only part (e.g. $2,000–$5,000)

Helping them borrow the rest from multiple people

Referring them to a travel finance service (some agents offer proof of funds temporarily for a fee, though some are shady—so be careful)



---

🛡️ Summary of Best Strategy for You

Since you:

Don’t want people knowing you have money

Don’t relate much with bank staff

Want to avoid risk


Your best bet is:

👉 Keep the money in your account, give your friend a sponsorship letter + your statement
OR
👉 Open a joint or custodial account temporarily for control.

If you must transfer:

Use a loan agreement

Get signature, proof, and deadline in writing

moneymagnetca:
He can open an account with Stanbic-IBTC Asset Management. He should then obtain a lien form and complete it with your details, authorizing them to put a lien on the funds in the account in your favour. Get a lawyer to draft a loan agreement with the funds in the account as security. Then transfer the funds to his Stanbic-IBTC Investment account. The funds should be invested in short term money market instruments (treasury bills) with instruction to rollover on maturity.

Stanbic-IBTC Investment account statement is accepted by embassies.

Thank you for this suggestion. Just a quick follow up, I'll need to follow him to bank to fill the lien form and verify it's my details there right? What if he goes behind my back to cancel the lien order? What if he disappears, becomes unreachable or unavailable when it's time to return the money? How does one mitigate these risks?

joinnow:
AI advice

You're absolutely right to be cautious. Lending someone money—especially a large amount like $11,500 for proof of funds—can be risky, even if it's a trusted friend. Here’s a clear breakdown of safe ways to help, alternatives, and protecting yourself legally and discreetly:





Method B: Statement Sponsorship Letter

Keep the money in your own account.

Provide an official sponsorship letter saying you’re supporting their travel.

Attach your bank statement.


> ✅ No cash leaves your hand.
❌ Some embassies may prefer proof in the applicant’s name, not a sponsor’s.




---

⚠️ Option 2: Transfer the Money, But Protect Yourself

If you decide to actually transfer the money to your friend's account, protect your agreement in writing.

How:

1. Loan Agreement Document
Draft a simple Loan Agreement stating:

The amount ($11,500)

The purpose (travel proof of fund)

The repayment deadline

Penalty for default (optional)

That it’s not a gift.



2. Get a Signature & Witness

Both of you should sign.

If possible, use a neutral witness (even if not a lawyer).

You can also record a video agreement for backup.



3. Add a Post-Dated Cheque or Promissory Note

This shows intent to repay on a certain date.




> ✅ Helps in legal disputes if he refuses to pay. ❌ Still depends on trust.




---

❌ What NOT to Do

Don’t give cash without proof (no receipts or transfer trail).

Don’t rely on word of mouth.

Avoid allowing the money sit in their account for too long without an agreement.



---

💡 Alternative Approach (If You Want 0 Risk)

If you're not sure you want to lend the full amount:

Consider:

Lending only part (e.g. $2,000–$5,000)

Helping them borrow the rest from multiple people

Referring them to a travel finance service (some agents offer proof of funds temporarily for a fee, though some are shady—so be careful)



---

🛡️ Summary of Best Strategy for You

Since you:

Don’t want people knowing you have money

Don’t relate much with bank staff

Want to avoid risk


Your best bet is:

👉 Keep the money in your account, give your friend a sponsorship letter + your statement
OR
👉 Open a joint or custodial account temporarily for control.

If you must transfer:

Use a loan agreement

Get signature, proof, and deadline in writing

Thank you. I'll see how some things here can be factored into other suggestions.

HeatSeeker:
Read to understand and not to reply. It will do you a lot of good.

Okay. Thank you for your suggestions and feedback

Joyful365:
Thank you for this suggestion. Just a quick follow up, I'll need to follow him to bank to fill the lien form and verify it's my details there right? What if he goes behind my back to cancel the lien order? What if he disappears, becomes unreachable or unavailable when it's time to return the money? How does one mitigate these risks?

Sure, you should follow him to ensure the documents are filed and you should also obtain confirmation.

Lien cannot be canceled without your authorization.

If he disappears or is unwilling/unavailable to transfer funds to you, you will have the authority in the lien and loan agreement to call in the security and have the funds credited to you.

Joyful365:
My friend wants to travel and he's trying to get proof of fund. I have like $11,500 I can give to him but I'm not sure how to go about it without risk of not getting my money again when time comes. You know people can be funny. I don't relate much with bank people and I don't want to involve other people to avoid some thinking I have so much money to give away. I'm still struggling but we thank God for life. Please advise

Let me tell you a story...

I once had a business relationship with a person I thought I could trust sometime in the year 2019.

The agreement was that I would finance a business venture with N2 million then we share profits.

Before then we went to his bank and I was added to his account as a joint signatory so that I would be aware when the client paid for the service the business was providing and also be sure that no money could leave the account without my knowledge.

At the initial stage when I paid in the initial capital of N2 milion in several tranches into his business account I was getting notification from the bank since I was a joint signatory.

My brother by the time the client started making payments to the bank account the guy had gone behind me to remove me as a joint signatory(How he did it I still do not know till today) to the account and I stopped receiving debit alerts until he had cleared all the money.

My advice to you
You only have absolute control over your money so long as it's in a bank account that is opened in your own name and that is under your control.

Do not agree to transfer money to another person's account on the agreement that he will send the money back to you later (Especially your life's savings or an amount of money you cannot afford to loose).

You are not in your friend's heart so you don't know what he has in his mind.

Advise him to approach companies that do POF as their main business.

If you want to help your friend further then offer to pay some or part of the charges of the company that will give him POF.

Don't deceive yourself by taking solace in an agreement prepared by a lawyer even if it was prepared by Femi Falana, Nigerians have zero regard for agreement whether written or verbal!

NairalandAngel:
Let me tell you a story...

I once had a business relationship with a person I thought I could trust sometime in the year 2019.

The agreement was that I would finance a business venture with N2 million then we share profits.

Before then we went to his bank and I was added to his account as a joint signatory so that I would be aware when the client paid for the service the business was providing and also be sure that no money could leave the account without my knowledge.

At the initial stage when I paid in the initial capital of N2 milion in several tranches into his business account I was getting notification from the bank since I was a joint signatory.

My brother by the time the client started making payments to the bank account the guy had gone behind me to remove me as a joint signatory(How he did it I still do not know till today) to the account and I stopped receiving debit alerts until he had cleared all the money.

My advice to you
You only have absolute control over your money so long as it's in a bank account that is opened in your own name and that is under your control.

Do not agree to transfer money to another person's account on the agreement that he will send the money back to you later (Especially your life's savings or an amount of money you cannot afford to loose).

You are not in your friend's heart so you don't know what he has in his mind.

Advise him to approach companies that do POF as their main business.

If you want to help your friend further then offer to pay some or part of the charges of the company that will give him POF.

Don't deceive yourself by taking solace in an agreement prepared by a lawyer even if it was prepared by Femi Falana, Nigerians have zero regard for agreement whether written or verbal!

Thank you for your contribution. Your input is appreciated.