VAF 4A - UKBA interpretation of Cash Savings

[Bali Thomas]

It seems clear that UKBA don't see any form of investment asset such as bonds or stockmarket shares as cash savings and so unacceptable as financial backing. Anyone know or have views on whether limited access savings accounts are considered favourably?

Do they want people to just be able to walk into a bank and take the cash out instantly in a suitcase or do the accept that it could take a few days or a week to have the ready cash? It can take a few days when the savings account has another current account as its feeder or servicer.

[Lucapooka]

11A. In respect of cash savings:

(a) The savings may be held in any form of bank/savings account, provided that the account allows the savings to be accessed immediately (with or without a penalty for withdrawing funds without notice). This can include, for those of retirement age, savings held in a pension savings account which can be immediately withdrawn.
(b) Paid out competition winnings or a legacy which has been paid can contribute to cash savings.