Cash Savings in Foreign Account for FLR(M)

[Simi2]

Hello everyone,

I wonder if any of you may be able to help ... we have cash savings (90,000 GBP) in a foreign account. It satisfies the rules, please see below:

'7.4.16. Appendix FM-SE specifies further requirements for cash savings:

11A. In respect of cash savings: (a) The savings may be held in any form of bank/savings account (whether a current, deposit or investment account, ****** provided by a financial institution regulated by the appropriate regulatory body for the country in which that institution is operating ******), provided that the account allows the savings to be accessed immediately (with or without a penalty for withdrawing funds without notice. This can include savings held in a pension savings account which can be immediately withdrawn.'

I am the British sponsor and the money was saved by me in the U.K and taken abroad when I married my husband as we lived abroad for a few years before submitting our first spouse visa. It went through fine with the foreign account at that time.

We have saved more since coming to the U.K approx 11,000GBP in a U.K account but would like to use the foreign account for cash savings proof for FLR (M) as it covers the whole amount in one place.

From the above quote it looks like a foreign account can be accepted, my question is how would a case worker view it? Could it be thought of as an intention to return abroad to live at some point? Or not committing to life here in U.K? We can access the cash savings instantly through internet banking or our bank cards. Our only reason at this time for having the account is the interest rate of 4% net, which adds up to a lot. If necessary we would move the money to our U.K account.

I'd be most grateful to hear your views, especially if you have successfully done a FLR(M) on the basis of cash savings in a foreign account.

Many thanks for your kind help.

[seagul]

Most importantly the required funds must have been held from at least 6 months and it's source of acquisition may also need to declare too. If funds fluctuate then the lowest balance figure during last 6 months usually consider.

[Simi2]

Thank you Seagul,

The funds have been held at required amount for more than 3 years.

I have several years of old statements from my U.K bank showing how the money was saved yearly in an ISA as well as U.K bank documents showing the transfer from U.K account to my foreign account.

As the balance is about 90K GBP the excess should cover changes in exchange rates.

Best wishes to you

[seagul]

In that case cash savings can work out for you.

[Simi2]

Thanks a lot Seagul.