Financial Requirement for UK Spouse Visa question.

[crazydrummerpauly]

Hi all.

As i understand it, the Minimum Financial Requirement for the UK Spouse (or other settlement) Visa may use Cash Savings only. Ok.

First part of this rule is that the savings must have been held for a minimum of 6 Months at the time of application. Ok.

Second part - they must be under the sole control of the Sponsor or the Sponsor & Applicant. Ok.

Third part - the Source of the savings must be described and evidenced. Ok.

Ok, so far so good.

But then i am stuck - in the guidance for this, there is the all-important word - CONTINUOUSLY. That is, the funds must not only be there in the account at the time of application, but MUST HAVE BEEN HELD CONTINUOUSLY for the 6-months period before the application. Is this correct ?

Now i fail to see how this requirement can be practically met. In fact i think it's a stupid demand. What kind of savings account - for example a building society account, ever shows the day-to-day or even week-to-week balance in an account ? I have accounts which do no more than send out an Annual Statement. This type of account is nothing like a banking Current Account with its daily tally.

So are the UKBA effectively requiring all applicants relying on Cash Savings to transfer all funds from : Building Societies; Premium Bonds; Investments etc...to a bank's current account, just to be able to prove the DAILY continuity over 6 months of the savings relied on in the application ?

As it is, with modern building society accounts that DON'T HAVE A PASSBOOK, there is nothing to stop someone taking a pile of cash out for a mad week in L.A., losing it all, and a month later winning it all back on the lottery and re-depositing it ! It would not show up in the normal Annual Statement.

So have applicants and sponsors got round or through this without the old-style Passbooks to prove continuity ?

[TCA]

Most banks providing savings accounts are able to send out statements on request, even if they only normally send out annual statements. I *think* showing you had the cash 6 months previously and also at time of application (via balances only) might suffice but I used statements which showed the (minimal) transactions between the two periods and the opening and closing balances.

Who do you bank with and have you asked them if they can supply statements?

Edited June 9, 2016 by TCA

[crazydrummerpauly]

Most banks providing savings accounts are able to send out statements on request, even if they only normally send out annual statements. I *think* showing you had the cash 6 months previously and also at time of application (via balances only) might suffice but I used statements which showed the (minimal) transactions between the two periods and the opening and closing balances.

Who do you bank with and have you asked them if they can supply statements?

Thanks TCA - yes i've done that - got up-to-date statements showing adequate balances going back 1,2 or 3 years. But there is nothing to stop an ECO rejecting the documents i've got because they can not show that tricky term CONTINUOUS - 'continuously held'. Without an old-style Passbook how can this be done ? Oh by the way - i do not make withdrawals from these 4 accounts - so there is literally nothing to show from one year to the next. Only that £XXX was in an account on June 1st 2015 say, and there is still £XXX there on June 1st 2016 ! That doesn't show continuity, it actually shows re-occurrence which is not the same thing. I can see a scrupulous ECO using this against us. I see you had some transactions to show - but i have none at all - 'dead money' problem. So it's a bit of a gamble...

Anyone else just submit annual statements and not much to show 'continuity' ?

[TCA]

If you're not making withdrawals then the balance is increasing from either deposits and/or interest. You should have been given paperwork showing at least the interest added, for tax purposes. It also shouldn't be beyond them to send something showing balances from 6 months ago with subsequent transactions.

[crazydrummerpauly]

If you're not making withdrawals then the balance is increasing from either deposits and/or interest. You should have been given paperwork showing at least the interest added, for tax purposes. It also shouldn't be beyond them to send something showing balances from 6 months ago with subsequent transactions.

I have a lot more in the online accounts, and I wish it was that easy. The rules clearly state that computer print-outs are not acceptable, and can be used as grounds for refusal. You are right in one way though - the complete histories of transactions ARE available online, and do show the overall continuity of funds. Just worried about print-outs being refused. I do have recent original letters stating current balances - but i now wish i'd asked for more complete records when i was on the phone for hours LoS to UK ! By the way - small point - with Premium bonds the balance just sits there like a dead parrot without increase/decrease if there are no prizes coming in!

[TCA]

Yes, don't use computer printouts. Anecdotal evidence suggests they have been accepted for visit visas (although the rules are the same), but definitely not worth the risk with a settlement visa application. And you're likely aware, but remember you just need to show sufficient to meet the financial requirement. Don't give yourself even more work chasing statements to demonstrate your entire net worth if you don't need to.

[crazydrummerpauly]

Yes, don't use computer printouts. Anecdotal evidence suggests they have been accepted for visit visas (although the rules are the same), but definitely not worth the risk with a settlement visa application. And you're likely aware, but remember you just need to show sufficient to meet the financial requirement. Don't give yourself even more work chasing statements to demonstrate your entire net worth if you don't need to.

Sound advice, thanks. I think i might have to wave a white flag even after months of preparation. I have over seven years of 'evidence', the English & TB tests done ,and more than enough to meet the minimum financial requirement - but i think that trying to get the right (original) kind of paperwork from the UK to LoS has been too big a job. Not just about savings, but all the docs associated with the offer of a room, which has got a lot more challenging recently it seems. Ah well...living and learning...no wonder the processing time is down to around one week - so few can meet the ever-rising criteria ?

[7by7]

Bank and building society savings account statements show not only the balance at the beginning and end of the period covered, but also any transactions during that period; at least mine do.

If there are no transactions shown this is because there were none; and ECOs are aware of this.

So statements showing the balance at the beginning and end of the period with no transactions in between should be perfectly acceptable, I believe.

Online statements are acceptable; provided the provisions of para A1. 1.( a )(v) of appendix FM-SE are met:

( a ) Bank statements must:
(v) be: (1) on official bank stationery; or
(2) electronic bank statements which are either accompanied by a letter from the bank on its headed stationery confirming that the documents are authentic or which bear the official stamp of the issuing bank on every page.

If still concerned about your statements, para A1. 1. (aa) says

(aa) Where a bank statement is specified in this Appendix, a building society statement, a building society pass book, a letter from the applicant’s bank or building society, or a letter from a financial institution regulated by the Financial Conduct Authority and the Prudential Regulation Authority or, for overseas accounts, the appropriate regulatory body for the country in which the institution operates and the funds are located, may be submitted as an alternative to a bank statement(s) provided that........

(3) a letter must be on the headed stationery of the bank, building society or other financial institution and must clearly show:

• (i) the account number,
• (ii) the date of the letter;
• (iii) the financial institution’s name and logo; and
• (iv) the information required on transactions, funds held and time period(s) or as otherwise specified in this Appendix in relation to bank statements.

(7by7 emphasis)

[crazydrummerpauly]

Bank and building society savings account statements show not only the balance at the beginning and end of the period covered, but also any transactions during that period; at least mine do.

If there are no transactions shown this is because there were none; and ECOs are aware of this.

So statements showing the balance at the beginning and end of the period with no transactions in between should be perfectly acceptable, I believe.

Online statements are acceptable; provided the provisions of para A1. 1.( a )(v) of appendix FM-SE are met:

( a ) Bank statements must:

(v) be: (1) on official bank stationery; or

(2) electronic bank statements which are either accompanied by a letter from the bank on its headed stationery confirming that the documents are authentic or which bear the official stamp of the issuing bank on every page.

If still concerned about your statements, para A1. 1. (aa) says

(aa) Where a bank statement is specified in this Appendix, a building society statement, a building society pass book, a letter from the applicant’s bank or building society, or a letter from a financial institution regulated by the Financial Conduct Authority and the Prudential Regulation Authority or, for overseas accounts, the appropriate regulatory body for the country in which the institution operates and the funds are located, may be submitted as an alternative to a bank statement(s) provided that........

(3) a letter must be on the headed stationery of the bank, building society or other financial institution and must clearly show:

• (i) the account number,
• (ii) the date of the letter;
• (iii) the financial institution’s name and logo; and
• (iv) the information required on transactions, funds held and time period(s) or as otherwise specified in this Appendix in relation to bank statements.

(7by7 emphasis)

Thanks 7by7. I think it's naturally a bit more difficult to assemble the financial documents for UK accounts while in LoS - no popping into branches to get print-outs stamped and endorsed etc... But after few pleading phone calls i have original letters and statements on the way from Blighty right now. Regarding your point about proving 'Continuously held for six months' - yes, i realised that all accounts have a Transaction History somwehere in the online account, and if they show zero activity that shows continuity of whatever the Balance is. But as strictly speaking print-outs are unacceptable without that company stamp or accompanying letter, i decided to ask the companies to post actual month-by-month individual statements for the past six months. Along with the normal Original posted annual statements i hope that will cover it. Stupid of me to miss those words 'Continuously held' for many months !

[naboo]

Quick question - I had always thought the cash in the bank route was at a much higher threshold, but is actually at GBP62,500 in my wife's case.

 

This opens another avenue for me. Should my mother (or a combination of family members to ensure there is limited tax liability) decide to gift me the money for the purpose of allowing us to return to the UK as a family, would this be acceptable? I'm aware of the 6 month rule.

 

Secondly, I don't believe there would be any issue in me finding work at the minimum annual threshold (the biggest obstacle to initial consideration of a return to the UK is that I don't have any desire to spend 6 months away from my family). Would the process of my wife obtaining citizenship be complicated if this GBP62,500 then disappeared again?

[7by7]

48 minutes ago, naboo said:

 

This opens another avenue for me. Should my mother (or a combination of family members to ensure there is limited tax liability) decide to gift me the money for the purpose of allowing us to return to the UK as a family, would this be acceptable? I'm aware of the 6 month rule.

 Gifts are acceptable, loans are not.

 

From the financial appendix

Quote

7.4. Cash savings – further guidance
 
7.4.1. Savings must be held in cash in a personal bank/savings account in the name of the applicant, their partner or the couple jointly. The savings can be from any legal source, including a gift from a family member or other third party, provided the source of the cash savings is declared. The applicant and/or their partner must confirm that the money, which cannot be borrowed, is under their control and evidence that it has been held in their bank account for at least the 6 months prior to the date of application.

 

53 minutes ago, naboo said:

Would the process of my wife obtaining citizenship be complicated if this GBP62,500 then disappeared again?

No, there is no financial requirement for naturalisation as a British citizen.

 

In addition, whilst the financial requirement must be met at all three stages through to settlement, initial visa, FLR and ILR, there is no requirement that the same source is used each time.

 

In the extremely unlikely event that someone from UKVI asks what happened to the savings, simply say that you spent the money covering living expenses until you found work.

 

 

[TCA]

1 hour ago, naboo said:

Would the process of my wife obtaining citizenship be complicated if this GBP62,500 then disappeared again?

 

I agree with 7by7's comments. I'm not sure if you purposefully meant to say citizenship as opposed to settlement, but as 7by7 said you need to meet the financial criteria at all stages of the application up to ILR. How you meet that criteria is up to you. i.e. your initial visa could be granted on the basis of £62,500 in a bank account but by FLR you might prefer to meet the criteria by income from employment.