Cover Letter Maintainece fund Explanation (Conversion)

[krishna1215]

In the Cover letter what explanation should I put for Maintainence funds regarding conversion rate. As per previous answers in postings I was told the exchange rate would be calculated on the day of submission of the application in PERSON but not online one. My application date in person at embassy is on 22nd October. So in the cover letter, How can I prove that I have sufficient funds. Should I just mention that my balance never went below 3900 Euro's in last 3 months ? I couldn't calculate in pounds becuase I am not sure what exchange rate would be on the day I am submitting my doucments?

[mvent00]

You do not need to do that. It is embassy's job. However, if it is possible for you, you can print out the exchange rate from oanda.com on the day of your application and submit it alongwith your application. You have proof from bank about minimum balance maintained in your account, so you do not need to worry about it.

In the Cover letter what explanation should I put for Maintainence funds regarding conversion rate. As per previous answers in postings I was told the exchange rate would be calculated on the day of submission of the application in PERSON but not online one. My application date in person at embassy is on 22nd October. So in the cover letter, How can I prove that I have sufficient funds. Should I just mention that my balance never went below 3900 Euro's in last 3 months ? I couldn't calculate in pounds becuase I am not sure what exchange rate would be on the day I am submitting my doucments?

[krishna1215]

hi Mvent,
My Conern is about cover Letter

Maintenence funds section
====================================
I have attatched 12 months bank statements and my 3 months maintenece fund statement Proofs starting from July 1st 2009 to Oct 1st 2009 can be found in 12 moths estatements provided.

I have my balance for those 3 months above 2800 pounds . Please check

=====================
Is that way to mention is my question. Or any thing extra info i need to provide in MAIN COVER LETTER.

[mvent00]

hi Mvent,
My Conern is about cover Letter

Maintenence funds section
====================================
I have attatched 12 months bank statements and my 3 months maintenece fund statement Proofs starting from July 1st 2009 to Oct 1st 2009 can be found in 12 moths estatements provided.

I have my balance for those 3 months above 2800 pounds . Please check


I would say,

As you can see in my bank statements, the minimum balance maintained in my account for the period from 02 July 2009 to 01 Octber 2009, was .....Euros.

You should write here the minimum balance level in your account during these three months. And they will do the conversion for this minimum amount.

=====================
Is that way to mention is my question. Or any thing extra info i need to provide in MAIN COVER LETTER.

[krishna1215]

Hi Mvent

So the bottom line would be

Maintenence funds section
====================================
I have attatched 12 months bank statements and my 3 months maintenece fund statement Proofs starting from July 1st 2009 to Oct 1st 2009 can be found in 12 moths estatements provided.

As you can see in my bank statements provided from 02 July to Oct 1st my minimum balance in my account maintained was 3900 Euro.

I couldnt calculate the exchange rate as it should be the rate considered on date of submission of my application (I DONT THINK THIS STATEMENT IS REQUIRED TO INFORM THEM Isnt it ?)

[mvent00]

Hi Mvent

So the bottom line would be

Maintenence funds section
====================================
I have attatched 12 months bank statements and my 3 months maintenece fund statement Proofs starting from July 1st 2009 to Oct 1st 2009 can be found in 12 moths estatements provided.

As you can see in my bank statements, provided from 02 July 2009 to Oct 1st 2009, the minimum balance in my account maintained was 3900 Euros.
I couldnt calculate the exchange rate as it should be the rate considered on date of submission of my application (I DONT THINK THIS STATEMENT IS REQUIRED TO INFORM THEM Isnt it ? Yes, I think you do not need this.)

[krishna1215]

Hi Mvent,

Did you notice that in the Cover letter section posting.

A guy who applied from india, calculated maintence funds as per his bank statements.
How can that be. It should be calculated on the day of application submission.

if you look below he clearly mentioned the conversion of pounds as per his bank statements

=========================================================================================
http://www.immigrationboards.com/viewtopic.php?t=32167


1. Personal Bank Statements:

I am enclosing my personal bank statements (xxx) from 1st November 2007 to 14th March 2008. The bank statements are notated with my name, account number, date of the statement, bank’s name and logo, and the financial transactions over this period, which covers more than the last three months.

Bank statements are stamped and signed by:
Contact details:
xxx
Phone: xxx
Fax: xxx
As per bank statements the available balance all through was INR xxx.00.
Minimum INR: xxx.00

I have converted the INR to Sterling by using the www.oanda.com Currency Converter ® Results and have enclosed a copy for your perusal. Below is a summary of the conversion:


(Live mid-market rates as of 14.03.2008 when the bank statements were issued)

1 Indian Rupee = 0.01217 British Pound
1 British Pound (GBP) = 82.14194 Indian Rupee (INR)

xxx.00 INR= xx.5 GBP

[krishna1215]

We Claim 10 points for maintenence funds just basing upon a rough estimate.

That means no Applicant from now on can just say I am eligible for it as he cant submit his conversion rate (Other than UK country) and say its because of this rate on so and so day I am eligible like . By guess we say we claimed 10 points.

Thats the bottom line. The reason i am saying this is because in Cover letter we are saying we are claiming 10 points (Proof is just bank statements but no conversion rate. god knows what the rate is going to be on date of submssion)

[mvent00]

I have seen that cover letter too, it could be an outdated one. Please do not include that information. You know the fresh information from fresh Tier 1 guidance, so follow that.

The other part is that normally if you think 3700 Euros is approximately similar to 2800 GBP, it is safe to always maintain + 200 Euros to overcome the effect of fluctuation in exchange rate. We cannot do anything about that. Just try to maintain above the required level.

We Claim 10 points for maintenence funds just basing upon a rough estimate.

That means no Applicant from now on can just say I am eligible for it as he cant submit his conversion rate (Other than UK country) and say its because of this rate on so and so day I am eligible like . By guess we say we claimed 10 points.

Thats the bottom line. The reason i am saying this is because in Cover letter we are saying we are claiming 10 points (Proof is just bank statements but no conversion rate. god knows what the rate is going to be on date of submssion)

[mvent00]

Hi Mvent,

Did you notice that in the Cover letter section posting.

A guy who applied from india, calculated maintence funds as per his bank statements.
How can that be. It should be calculated on the day of application submission.

if you look below he clearly mentioned the conversion of pounds as per his bank statements

=========================================================================================
http://www.immigrationboards.com/viewtopic.php?t=32167


1. Personal Bank Statements:

I am enclosing my personal bank statements (xxx) from 1st November 2007 to 14th March 2008. The bank statements are notated with my name, account number, date of the statement, bank’s name and logo, and the financial transactions over this period, which covers more than the last three months.

Bank statements are stamped and signed by:
Contact details:
xxx
Phone: xxx
Fax: xxx
As per bank statements the available balance all through was INR xxx.00.
Minimum INR: xxx.00

I have converted the INR to Sterling by using the www.oanda.com Currency Converter ® Results and have enclosed a copy for your perusal. Below is a summary of the conversion:


(Live mid-market rates as of 14.03.2008 when the bank statements were issued)

1 Indian Rupee = 0.01217 British Pound
1 British Pound (GBP) = 82.14194 Indian Rupee (INR)

xxx.00 INR= xx.5 GBP It is also possible that he wrote the exchange rates as were on the day of application and prepared the cover letter on same date, when he submitted his application.