maintenance funds

[mvent00]

Hello, my question is regarding maintenance funds. If we are presenting a foreign currency, how do they compare whether it is same with minimum required or not?

Does this comparison rely on the basis of daily exchange rates for past three months?

Or if they consider the minimum balance during past three months as a criterion for comparison?

Let us say, I have the minimum balance in my account XYZ dollars for one day, and on that particular day the exchange rate shows from their approved website (Oanda) that this amount is higher than the minimum required, but if we compare it with an earlier day exchange rate during past three months, it falls below, while the balance on that ealier day is higher than the minimum required?

Thanks for any comments.

[ChetanOjha]

Refer guidance notes (Page 23, point 129-131) which states:


exchange rate on the OANDA website at http://www.oanda.com/convert/classic on the last day of the period for which he/she has claimed earnings in that currency. This is an independent website, for which we are not responsible.

Also: we will calculate earnings using the closing exchange rate for the last day of each period of earnings claimed.

From the above, it can be safely inferred that you can use the exchange rate of the last day of the claim period. For e.g. if you are claiming for 01/01/2009 - 31/03/2009 you should be using the exchange rate on day 31/03/2009.

Hello, my question is regarding maintenance funds. If we are presenting a foreign currency, how do they compare whether it is same with minimum required or not?

Does this comparison is on the basis of daily exchange rates for past three months?

Or if they consider the minimum balance during past three months as a criterion for comparison?

Let us say, I have the minimum balance in my account XYZ dollars for one day, and on that particular day the exchange rate shows from their approved website (Oanda) that this amount is higher than the minimum required, but if we compare it with an earlier day exchange rate during past three months, it falls below, while the balance on that ealier day is higher than the minimum required?

Thanks for any comments.

[mvent00]

Chetanojha, thank you again for your quick feedback.

[ChetanOjha]

Chetanojha, thank you again for your quick feedback.

To be on a safer side, attach prinout of the conversion from OANDA website with your application. So case worker do not have to do much work to assess your application

[mvent00]

That is a very good idea. Thank you.