Maintenance Funds Query | Urgent response required

[puneetsingh]

Hello,

I will be submitting my extension application in April 2012 and wanted to understand the 90 days continuous funds maintenance requirement.

Guidelines says that the evidence produced (bank statement) shall not belong to a period of more than 1 calendar month in comparison to the application date. So if I were to apply on say 4th April (same day postage), my bank statements covering the period between 1st to 31st Mar 2011 AND 1st to 29th February 2012 will not suffice as there is a gap of more than 1 calender month (March 2012 and 1,2 and 3rd April 2012) between my application date (4th Apr 2012) and the last date of covered evidence (29 Feb 2012) via provided evidence?

Because of this I have to now wait for my March 2012 bank statement to be delivered to me (around 7th April) and have to pay the revised fees (Additional GBP500)

Is the above mentioned understanding of mine correct or do you think I am misreading the maintenance funds evidence requirement?

Thanks

[chsubbu33]

Bank statements are accepted only if statement date is less than a month. If it is not falling under month best is to provide statement printed at the branch or stamped and signed online version of new statement.

Thanks,
Subbu.

[QuickSam]

90 day continuous period is considered as the period immediately before your last statement date. The bank statement submitted can be at the max 30 day (1 month) old. So if you were to apply in April and you received the most current statement in March, that should still be okay, given that you had the required maintenance amount in your account upto the last statement date and back dating upto 90 days in the past. So you would have to show Dec, Jan and Feb

In case you have any doubts, ask the bank to print the March statement on Bank Stationary and then get it stamped if possible.

[puneetsingh]

Thanks.

The issue is, my bank doesn't support the printing of statement at branch and nor does it provide the facility of online version of statement. I'll have to print the account activity for concerned period on plane A4 and bank will stamp and sign it.

Will that work?

[QuickSam]

Do you mean transaction history? Will this show end of day balances or balance after transaction? What is your statement cycle?

[puneetsingh]

It's a transaction history for a period of say 29 Feb to 02 April. It has got the updates for each transaction made during this period.

My statement period is for a calender month, start to end. I get the statement on 6th /7th of a month.

[QuickSam]

I think this should be okay if you get the print, stamped and signed. I would also suggest getting a letter from the bank on bank stationary, confirming the authenticity of the printed statement.

If the above is not possible check with your bank if they provide a letter for the complete maintenance period of 90 days stating that the funds in the 90 day period were never lesser than 'X' amount. That would help.

[puneetsingh]

Thanks for the response Guys