zimba88 wrote:I am not sure what document you are referring to ?? It is silly to expect a bank to issue such a letter to you which has nothing to do with them, in fact no bank will do that.
Can you point out the evidence you are referring to in the guide/rules ???
Thanks for your reply. This is what the form says and it is a mandatory requirement-
A letter from a financial institution
115. You can provide a letter from a financial institution holding the funds, to confirm the amount
of money available to you, your business (or your team, if you have formed an entrepreneurial
team).
The total amount of available money must be either at least £200,000; or at least £50,000
as applicable. If the money is held in several financial institutions, you must supply a recent
letter from each institution. If the money is not held in pounds sterling, we will use the rate of
conversion on the Oanda website to convert the money into pounds sterling,
using the exchange rate that applies on the date of the application.
Each letter must:
be an original document and not a copy;
be on the institution’s official headed paper;
have been issued by an authorised official of that institution; and
have been produced within the 31 days immediately before the date of your
application.
Each letter must also confirm each of the following details:
the account number;
that the institution is regulated by the appropriate body;
your name, and your team member’s name if you have formed a entrepreneurial team;
the date of the document;
the minimum balance available from your own funds (if applicable) that has been held in
that institution during a consecutive 90-day period of time, ending on the date of the letter;
the amount of money available to your business. If the money is available to your
business rather than to you by name, you must be registered as a director of that
business in the UK and provide a Companies House document showing the address of
the registered office in the UK or head office in the UK. The Companies House document
must also show your name (and the name of your team member if appropriate) as it
appears on the application form as a director;
that if the money is not in an institution regulated by the FCA/PRA, the money can be
If the money is awarded by a third party other than a venture capital firm, seed funding
competition or a UK government department/devolved government department, then the letter
from the financial institution holding the funds must also include the following details:
For money being held by a third party at the time of your application and not in your
possession, confirmation that the third party has informed the institution of the amount of
money that the third party intends to make available to you, and that the institution is not
aware of the third party having promised to make that money available to any other person;
Confirmation of the name of each third party and their contact details, including their full
address, postal code, telephone contact number and any e-mail address.
Please note: it is important to ensure that any letter from the third party’s financial institution
states that the third party has confirmed that they intend to make the money available to you.
This is to ensure that the funds are made available to you (and your team member, if applicable)
and not to anyone else
