What kind of account must the maintenance funds be in?

[mia777]

Hi all. I am applying for my visa and my parents are paying for my graduate school term and proving maintenance.

The guidance says no financial instruments. Both of my parents only have money in a savings account invested in a money market fund. This is listed as cash on the bank statement though the details tell you that it's in a money market fund.

Both of my parents seem to think it's crazy that money market accounts don't "count" as cash.

Can anyone help clarify this for me?

Thanks,

[mia777]

I'd also like to add that you can still write checks from the account... the money is very liquid, even more so than a savings account.

[bb21]

I guess the reason they don't allow it is that it is an investment and any investment can lose its value, sometimes drastically, over time. If UKBA can figure out the details from the documents you provide then it's a no no for me. It doesn't matter how the account can be operated but the nature of the account that is of concern. Remember UKBA works off "a script" most of the time and sometimes might not appear very reasonable. I say put it into a savings or current account for your piece of mind.