verification of investment funds

[amadeus53]

HI guy,
Just wnated to know when verification of investment funds are done for tier 1 ent 200k route i.e. before or after interview, since these days its taking way too long for tier 1 ent visa process so i might need some money from it for like 15 days or so and then i can put it back.

I have already sent all the docs like few months ago now. Need opinion of you guys...

[marcnath]

HI guy,
Just wnated to know when verification of investment funds are done for tier 1 ent 200k route i.e. before or after interview, since these days its taking way too long for tier 1 ent visa process so i might need some money from it for like 15 days or so and then i can put it back.

I have already sent all the docs like few months ago now. Need opinion of you guys...

I don't believe that is an issue. Remember though, that you will have to have access to it from the day you are granted the Visa, so not having the money in your account when they grant the visa is strictly and technically a violation of the conditions of your visa (though I am not sure if anyone really checks to that detail).

[amadeus53]

Thanks for the input, i just need to know that since my interview is not done as of now so its better i can take that money now and deposit in account after 15 days or do it after the interview has been done. I got a date for interview after 18 days.

Just need to know when do they check for investment funds in your account or do they just verify the letter from the bank till the time of issue date and don't bother whether the 200k amount is currently in the account or not?

Plz shed some light

[marcnath]

Thanks for the input, i just need to know that since my interview is not done as of now so its better i can take that money now and deposit in account after 15 days or do it after the interview has been done. I got a date for interview after 18 days.

Just need to know when do they check for investment funds in your account or do they just verify the letter from the bank till the time of issue date and don't bother whether the 200k amount is currently in the account or not?

Plz shed some light

They will almost certainly check with the bank on the validity of the documents you submitted. I don't believe they can ask your bank for the current balance or that the bank can give HO that information without violating your privacy.
The only consent you have signed to (in the application form) is:
I agree to the bank or utility company, without seeking any further consent from me, telling you
whether the information or documentation I have supplied is correct or in what way (if any) it is
not correct.

Having said that, I double checked and I was wrong in my earlier post.

The guidance says:
46. Where you are seeking to be awarded points on the basis of access to funds, we may ask you to demonstrate that the funds you have used to apply remain available to you beyond the date of your application. The funds must continue to be available to you until they are invested in a business or businesses, or spent for the purposes of your business or businesses. ‘

So, you can move the money around, say to a fixed deposit account, but you would have to keep ready access to it throughout until it is invested.

[amadeus53]

Thanks for the information, just to make it 100% clear here is exactly what i need to confirm.

For example my letter date form bank showing availability and confirmation of funds was of 1st oct, as per that document they send verification to bank asking about it on 1st Nov. but at that time the balance is not the full amount of 200k, however at the time of letter i.e. 1st Oct balance was 200k, so bank will say that letter is genuine? Right?

I mean will it create a problem if as per above scenario they inquire about the letter on a date when the balance on the investment account is not 200k?

[marcnath]

Thanks for the information, just to make it 100% clear here is exactly what i need to confirm.

For example my letter date form bank showing availability and confirmation of funds was of 1st oct, as per that document they send verification to bank asking about it on 1st Nov. but at that time the balance is not the full amount of 200k, however at the time of letter i.e. 1st Oct balance was 200k, so bank will say that letter is genuine? Right?

I mean will it create a problem if as per above scenario they inquire about the letter on a date when the balance on the investment account is not 200k?

I am quite confident that UKVI will only ask for validation of the letter and its contents.
However, I am not as confident that foreign banks will not reply giving additional information in the process.

But pay attention to the second part of my last post. You have to maintain access to those funds throughout. UKVI can ask you for updated statements at any time. It is not a risk I would personally take, but it is up to you.

[adilzia]

Thanks for the information, just to make it 100% clear here is exactly what i need to confirm.

For example my letter date form bank showing availability and confirmation of funds was of 1st oct, as per that document they send verification to bank asking about it on 1st Nov. but at that time the balance is not the full amount of 200k, however at the time of letter i.e. 1st Oct balance was 200k, so bank will say that letter is genuine? Right?

I mean will it create a problem if as per above scenario they inquire about the letter on a date when the balance on the investment account is not 200k?

I am quite confident that UKVI will only ask for validation of the letter and its contents.
However, I am not as confident that foreign banks will not reply giving additional information in the process.

But pay attention to the second part of my last post. You have to maintain access to those funds throughout. UKVI can ask you for updated statements at any time. It is not a risk I would personally take, but it is up to you.

As per my experience

3 years back HO verified my bank letter from overseas bank
I had submitted bank letter and statement for 1 week to cover 200k
Iike
Letter dated 10 Dec 2012
Bank statement 4 Dec to 10 Dec 2012
Bank statement printed 10 Dec 2012
They sent an email to head office of bank not local branch.
They attached that letter and 1 form with email
And requested to the Head office that please confirm that letter is genuine or not and fill this form too.

HO just mentioned account number on form
And other questions were these
Account number 12345666
Please fill these details
Account title .......?
Account opened date ......?
Closing balance on 10 Dec 2012......?
Then sent verification in Mar 2014
And they verified balance on that date too

Hope this help you