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Investment funds (£50,000) in Saving Account

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entrepreneur123
Senior Member
Posts: 640
Joined: Wed Jan 09, 2013 11:12 am

Investment funds (£50,000) in Saving Account

Post by entrepreneur123 » Tue May 28, 2013 12:43 pm

Hello everyone,
I got quick question. I am keeping my investment fund of £50,000 in saving account (RBS- Direct Saver Account) for my intial application. Do you think it will be fine or is there restrictions on keeping investments funds only in personal account? thanks
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nils
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Posts: 31
Joined: Sun Apr 14, 2013 10:20 am
Location: London

Investment funds (£50,000) in Saving Account

Post by nils » Tue May 28, 2013 12:56 pm

It has to be in Current Account.
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entrepreneur123
Senior Member
Posts: 640
Joined: Wed Jan 09, 2013 11:12 am

Re: Investment funds (£50,000) in Saving Account

Post by entrepreneur123 » Tue May 28, 2013 1:04 pm

nils thanks for your reply. I cannot find in policy guidance that we should only use Current account. It do says that we cannot use ISA. Please could you post relevant guidance policy here if you do not mind? after reading guidance i think as long as money is in cash form, it should be fine? thanks


nils wrote:It has to be in Current Account.
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Entrepreneur9
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Posts: 290
Joined: Sat Mar 02, 2013 11:14 pm

Post by Entrepreneur9 » Tue May 28, 2013 1:49 pm

entrepreneur123 - as per my knowledge, there should not be any problem if you keep the investment funds in savings account.

No where it says in the policy guidance that the funds should be in current account. This is completely incorrect.

The money must be in cash in the account. We will not accept ISA accounts or assets such as stocks and shares

Your money is in cash in your account with instant access.

This is what I think.

Any experts who can help on this topic please?

Many Thanks
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Darvesh
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Joined: Wed Feb 27, 2013 11:44 pm
Location: London
United Kingdom

Post by Darvesh » Tue May 28, 2013 1:58 pm

IT has to be in an account other than ISA ACCOUNT.

SO funds should be ok if its in saving account(NOT ISA ACCOUNT).
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rizwan567
Diamond Member
Posts: 1098
Joined: Sat Mar 23, 2002 1:01 am
Location: Greater London

Post by rizwan567 » Tue May 28, 2013 3:24 pm

Darvesh wrote:IT has to be in an account other than ISA ACCOUNT.

SO funds should be ok if its in saving account(NOT ISA ACCOUNT).
Thats correct
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KickAss
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Posts: 294
Joined: Mon Jan 02, 2012 8:36 pm
Location: Surrey

Post by KickAss » Tue May 28, 2013 8:02 pm

rizwan567 wrote:
Darvesh wrote:IT has to be in an account other than ISA ACCOUNT.

SO funds should be ok if its in saving account(NOT ISA ACCOUNT).
Thats correct
Its fine as I am going to apply with all my investment funds in savings account as well.
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Legal83
Member
Posts: 200
Joined: Sun May 26, 2013 6:32 pm

Post by Legal83 » Tue May 28, 2013 8:11 pm

To avoid any hassle, its better to keep the funds in current account.
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entrepreneur123
Senior Member
Posts: 640
Joined: Wed Jan 09, 2013 11:12 am

Post by entrepreneur123 » Wed May 29, 2013 5:02 pm

thanks everyone just to clear, the saving account i am using is online saving account (Direct saver account)
KickAss wrote:
rizwan567 wrote:
Darvesh wrote:IT has to be in an account other than ISA ACCOUNT.

SO funds should be ok if its in saving account(NOT ISA ACCOUNT).
Thats correct
Its fine as I am going to apply with all my investment funds in savings account as well.
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