Maintenance Fund

[amrinderdsingh]

Hi,

I will be applying for the Tier-1 visa from India, and wanted to know which date I should use for the exchange rate to calculate the maintenance funds (£2800). Is it the same date as will be used for the salary calculation.

Many Thanks
Amrinder

[aruni4470]

Hi,

I will be applying for the Tier-1 visa from India, and wanted to know which date I should use for the exchange rate to calculate the maintenance funds (£2800). Is it the same date as will be used for the salary calculation.

Many Thanks
Amrinder

Previous Earnings
135. If, during the period for which we are considering the applicant’s previous earnings, he/she has earned money from outside the United Kingdom, he/she can include these in the calculation to score points for earnings. The applicant should provide details of the overseas earnings, in the original currency in which they were paid. The applicant should convert these earnings into pounds sterling by using the closing exchange rate on the OANDA website for the last day of the period for which he/she has claimed earnings in that currency.

Maintenance Fund
204. The exchange rate of overseas currency will be made using the OANDA rate conversion on the date of application. www.oanda.com

http://bia.homeoffice.gov.uk/siteconten ... idance.pdf

[gd_Shepherd]

Banks do the conversion as on the date of maintenance funds letter (which should not be more than one month prior to application)

Shepherd

[aruni4470]

If you get a letter from bank 20 or 25 days before you apply and the conversion rate changes drastically and according to the rate of conversion on the date of application the maintenance fund is not equal to or more than £2800 (or whatever you need), would that letter be good to go with?

[gd_Shepherd]

From the Tier-1 guidance

215. Only the following specified documents will be accepted as evidence of this requirement:
i) Personal bank or building society statements covering a consecutive 90 day period: The most recent statement must be dated no more than one calendar month before the date of application.

Letter from bank confirming funds and that they have been in the bank for a consecutive 90 day period, ending no more than one calendar month before the date of application

Shepherd

[aruni4470]

Agree the letter can be dated one month from the date of application. That letter only confirms the availability of funds. AFAIK, the conversion rate on the date of application should be taken into account in regards to maintenance fund. This is clearly mentioned on the policy guidance. No offence meant to anybody.

[gd_Shepherd]

Agree with you Arun. Sorry, I missed this point from the guidance (Which you have already highlighted)

204. The exchange rate of overseas currency will be made using the OANDA rate conversion on the date of application. www.oanda.com

Thanks for the information.

This should make things clear to the OP

Shepherd