URGENT - MAINTAINENCE FUNDS.QUERY

[1664]

Dear all

I am finding it hard to understand the Maintainence Funds category.

I have to extend the exisitng HSMP VISA in May and after the new rules it states a minimum maintance balance of £800 to be maintained at all times.

So if my end balance "balace carried forward" is £800 and above would not satisfy the above rule?

Another interpreation - if the amount of atleast £800 to be in the account at all times and the balance after every transaction?

I think this is an important factor for extending your current stay else your application is refused.

Your help on the above matter is much appreciated.


Many thanks in adv,

1664

[1664]

Am still eagerly awaiting a reply...

Any help would be appreciated.

[tsp]

Good Points...

Can you please call the HSMP team and confirm the same. I m also going to do the same and paste their reply out here.

Can you do the same as well.

Regards
tsp

[1664]

I have just spoken to BIA and they have confirmed that if at any given time the bank balance dips below £800 in the three month prior to application, we are not eligible to apply for extension under the new tier 1.

I really cannnot believe that it has come to this and they cannot do anything abt it even though the new rules just came about on 29th feb...

How unfair can it be for people who have been in the UK for so long and have been MAINTAININg themselves without any help form the govt....

[doctor145]

i have a very important question, if you can answer , i will be grateful. I have applied for extension of my HSMP on 26/02/2008, the fee has been deducted and LT number issued. I have send my pay slips and letter from emlpoyer which show about 3000 pounds coming to my account every month, also my last bank statement show about 10000 pounds . But unfortunatly my balance was less than 800 pounds over the last 3 months. i also have 3 dependemnts.
will consoider my appplication against the new or old rules, if old rules then will it be okay or will it come for refusal because of lack of mainatance funds for three months

thanks

[Salina]

The only suggestion i can give is to get bank letter stating u hav a very good record of money.

[touchsensor]

Hi there,

I called up HO and those who applied on and before 29/2/08, will be assessed under the old rule. I hope that helps.

P

[Administrator]

.

The rules, as published, are quite clear:

The bank balance may not go under 800 GBP "at any time" in the 90 days previous to the application.

Will they allow any exceptions ...??

Don't know.

It seems that some people are going to have to make appeals and let the courts set precedent on the topic, unless the government steps in and changes the rule(s).


If a person has several bank accounts, will they accept documentation that proves the total balance of all accounts never went under 800 GBP? Don't know ... although that would seem reasonable.

I only raise the last point because the guidances speak in the sense of only one account, but also of 800 GBP's ...

the Admin

[WoodieG]

They will accept evidence from multiple accounts, a friend of mine rang up to check about that.

There has always been this criteria of course, now they have just put a definite amount on it.
________
Body science

[Administrator]

.

They will accept evidence from multiple accounts, a friend of mine rang up to check about that.

Thank You for that information! We've been trying to find an official statement on it. Unsuccessfully so far, but this will do.


Also:

New Announcement:

-> UK Tier 1 visas (HSMP unavailable soon) -> Summary of Tier 1 IMMEDIATE changes, from 29 February

the Admin

[hur]

.


The bank balance may not go under 800 GBP "at any time" in the 90 days previous to the application.

.
.

If a person has several bank accounts, will they accept documentation that proves the total balance of all accounts never went under 800 GBP? Don't know ... although that would seem reasonable.

I only raise the last point because the guidances speak in the sense of only one account, but also of 800 GBP's ...

the Admin

During last 3 months I have maintained
very good balance(the avarage balance has been around
3000 £.) but for couple of days in between the balance
fell below 800.This is the balance in my savings
accounts. And also, in one internal account called
"online savings" (HSBC bank) I have maintained more
than 1000 £ since more than 3 months.
So my query is whether I can show the "online
savings" (bank statements consolidated for 3 months) also

cheers..

[vinay shanthi]

as long as they accept online account print outs, then you have no problem.

only problem occurs if they want signed statement. because even if you go to hsbc branch, they or anyother bank will not give a written statements regarding online accounts as bank staff in branch do not have access to online account details. online accounts and hsbc isle of man or other offshore locations dont turn up in uk bank branch computers.

[vipul1981]

Hi

After reading about ONLINE SAVER account, I went to HSBC bank and they gave me a print out of the ONLINE SAVER statement, which clearly meets the requirements as mentioned on HO website. It has got HSBC logo, my name and account details and transactions, which is what they want. Hope this helps

[vinay shanthi]

hey a long while ago when i wanted hsbc online statements authorised by the bank, they told me they cant as they dont have access to the online account. mmay be the procedures have changed now with them.
how ever i do know that natwest does not provide online account statements etc or attest other rbs group statements

[hur]

Hi ,
I had called HO and enquired whether I can show "Online saver" (HSBC) money balance as the maintenance fund. The HO person said that one need to show proof that he/she has 'instant access' to any fund shown. (I think, it means, the money that can be withdrawn straightaway unlike fixed deposit).
HSBC bank has a small booklet called "Ways to Save" . In 'online bonus saver' section (page 7) there is a sentence "Instant access to your money". Hope this booklet corroborates the proof that's required regarding instant access to money. Please share your opinions/suggestions.

cheers..

[vinay shanthi]

oh looks like u got the booklet from hsbc and the internet print out then. i was wondering whether they have agreed to authenticate your printouts of online account, which they didnt do for me. this was a while ago. so guess things havent changed since then. they said they cant authenticate print outs as they cant verify details of online accounts as bank staff dont have it on their computers as online accounts are dealt with backoffices of hsbc at locations the branch didnt know.

the same applies to some other banks as well

[hur]

oh looks like u got the booklet from hsbc and the internet print out then. i was wondering whether they have agreed to authenticate your printouts of online account, which they didnt do for me. this was a while ago. so guess things havent changed since then. they said they cant authenticate print outs as they cant verify details of online accounts as bank staff dont have it on their computers as online accounts are dealt with backoffices of hsbc at locations the branch didnt know.

the same applies to some other banks as well

They will not authenticate (i.e. seal and signature) the printouts but we can request the statements to be sent across to address. The bank person suggested me to show the booklet as proof of 'instant access' to fund. I am not too sure whether it suffices,though

[vinay shanthi]

They will not authenticate (i.e. seal and signature) the printouts but we can request the statements to be sent across to address. The bank person suggested me to show the booklet as proof of 'instant access' to fund. I am not too sure whether it suffices,though

i am pretty certain i read in the requirements some where that they need to sign and put a stamp of the bank etc for the letter saying that you have adequate funds for entire duration. now if they didnt sign and authenticate the print out, i dont know if that satisfies the requirements.

the best bet is i feel a lumpsum cash mini isa for the amount of the maintenence requirement. once u have that in there are no transactions allowed unless u remove all of it. also there will be no debits and no risk of falling below maintence requiremenyt limit. current accounts are too risky for the purposes of this requirement especially if your monthly credit card bills get debitted at one time along with all other bills and especially if you have booked longhaul flights for full family. very big risk of falling below allowed limits for maintenence purposes. but people who dont have a cash mini isa tilll now and have to apply for visa sooon might be in trouble if their currents or saving accounts didnt have the required balance. the position of online accounts is risky in my opinion as banks wont authenticate them by signing them and stamping them like they will do on request for regular branch account statements.

hope the morons who drafted this rule see the problems they are causing and allow a little discretion in how they apply this rule especially if you always have the required funds but fall short occassionally

best of luck

[hur]

The bank person said in very clear terms that the bank dont have policy
a)to give a letter mentioning that a person has X amount money since certain period.
b) to authenticate the bank statements.

However, they can post the statements to address which (normally, atleast for the savings account) should suffice.

But here the scenario is slighlty different.
Almost everybody will keep just/minimum amount in savings account and transfer(for safety as well as to earn more interest) bulk of the amount in some internal account like 'Online saver' or ' flexi saver'. As written in my earlier post, HO person told me that a proof must be shown that we have 'instant access' to any such balance shown. I think, it's very much necessray to get confirmation from HO whether bank booklet or printout of terms and conditions document( which indicates proof of 'instant access') is adequate or not. Otherwise, we would risk the probability of success.

[vinay shanthi]

just a brief extract of my post on another similar thread http://www.immigrationboards.com/viewto ... 172#152172 . repetition here as relavant to this post.

dont know about foreign accounts and internet portals. if the foreign account comes with an international debit card, then that should count as an instantly accessible account as well. same goes for the internet portals if they are clubbed to some debit facility etc. even if u dont have a debit card for your foreign account, you can still get one for the same before you apply for the renewal and show debit card approval letter or letter from foreign bank mentioning debit card is instantly accessible in uk and that has required funds as per wording required by BIA.

another option worth trying for people having main funds in other countries. but whether home office accepts this backup plan i dont know. best to confirm from BIA via email query

[sidshekhar]

They will not authenticate (i.e. seal and signature) the printouts but we can request the statements to be sent across to address. The bank person suggested me to show the booklet as proof of 'instant access' to fund. I am not too sure whether it suffices,though

i am pretty certain i read in the requirements some where that they need to sign and put a stamp of the bank etc for the letter saying that you have adequate funds for entire duration. now if they didnt sign and authenticate the print out, i dont know if that satisfies the requirements.

the best bet is i feel a lumpsum cash mini isa for the amount of the maintenence requirement. once u have that in there are no transactions allowed unless u remove all of it. also there will be no debits and no risk of falling below maintence requiremenyt limit. current accounts are too risky for the purposes of this requirement especially if your monthly credit card bills get debitted at one time along with all other bills and especially if you have booked longhaul flights for full family. very big risk of falling below allowed limits for maintenence purposes. but people who dont have a cash mini isa tilll now and have to apply for visa sooon might be in trouble if their currents or saving accounts didnt have the required balance. the position of online accounts is risky in my opinion as banks wont authenticate them by signing them and stamping them like they will do on request for regular branch account statements.

hope the morons who drafted this rule see the problems they are causing and allow a little discretion in how they apply this rule especially if you always have the required funds but fall short occassionally

best of luck

Hello,
I am providing Cash Mini ISA statement to score points under Maintainence Funds section.Do I need to provide a letter from the Bank saying that Cash Mini ISA is instant access account and can be accessed immidiately.
Regards,
Sid

[vinay shanthi]

think u will need to show that u had the isa for the 3m period. i am sure they will know it is easily available funds. but just to be sure i would just enclose the ISA brochure from your bank and highlight the section saying funds can be withdrawn at anytime. that is what i would do, but dont know if it is necessary to do that. i dont believe in leaving things to chance, i would rather cover all my bases in such things.