# Regarding cash savings



## Laboksi (Feb 24, 2013)

I have a questiong regarding this cash savings, in my case, i have cash investment of £21,000, i have cash savings of £2,000 in my bank account overseas, making a total of : £23,000 both held for more than 6 months. 
I am my sponsor work and our annual salary is £15744, so we need cash savings of £23,140.
our cash savings is short of £140,i know home office will never put consideration into this.

I also have cash savings in my bank account here in the UK so i try to maintain my account not to go below £4,000 for six months..

So my question is can i combine all these funds, boths investment,cash savings abroad and cash savings in the UK. please i need good advice,as i have already book for premium service.

and do i need to demonstrate all these in writing for the home office to see all funds which i have combined together?


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## Joppa (Sep 7, 2009)

Laboksi said:


> I have a question regarding this cash savings, in my case, i have cash investment of £21,000, i have cash savings of £2,000 in my bank account overseas, making a total of : £23,000 both held for more than 6 months.
> I am my sponsor work and our annual salary is £15744, so we need cash savings of £23,140.
> our cash savings is short of £140,i know home office will never put consideration into this.
> 
> ...


Your accounts must be cash accounts with immediate access, not investment requiring notice. You can combine all three, and anything in foreign currency will be coverted by Oanda closing sterling spot rate. Make sure you have statement for each account covering the last 6 months, and if any isn't in English, it must be professionally translated. The latest statement for any of your accounts must be dated within 28 days of your PEO appointment.


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## Laboksi (Feb 24, 2013)

Joppa said:


> Your accounts must be cash accounts with immediate access, not investment requiring notice. You can combine all three, and anything in foreign currency will be coverted by Oanda closing sterling spot rate. Make sure you have statement for each account covering the last 6 months, and if any isn't in English, it must be professionally translated. The latest statement for any of your accounts must be dated within 28 days of your PEO appointment.



Thanks for the information' I saw on the spouse visa application that your savings can be inform of investment, and my investment cover the most part of the savings and I can't afford to bring it down into my savings account and wait for another 6 months, do you think I should give a try? Because am gonna provide my investment certificate and bankers confirmation letter with my application, am also going for premium service, do you think there will some sort of interview regarding my investment?


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## Laboksi (Feb 24, 2013)

Joppa said:


> Your accounts must be cash accounts with immediate access, not investment requiring notice. You can combine all three, and anything in foreign currency will be coverted by Oanda closing sterling spot rate. Make sure you have statement for each account covering the last 6 months, and if any isn't in English, it must be professionally translated. The latest statement for any of your accounts must be dated within 28 days of your PEO appointment.




Check page 7.3E of the application form.


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## Laboksi (Feb 24, 2013)

lane:


Joppa said:


> Your accounts must be cash accounts with immediate access, not investment requiring notice. You can combine all three, and anything in foreign currency will be coverted by Oanda closing sterling spot rate. Make sure you have statement for each account covering the last 6 months, and if any isn't in English, it must be professionally translated. The latest statement for any of your accounts must be dated within 28 days of your PEO appointment.




In my case that I have my savings in 3 different segment,do I have to print 3 different pages of page7.3E of the application form,in other to fill in their details, or what?


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## Joppa (Sep 7, 2009)

Laboksi said:


> Thanks for the information' I saw on the spouse visa application that your savings can be inform of investment, and my investment cover the most part of the savings and I can't afford to bring it down into my savings account and wait for another 6 months, do you think I should give a try? Because am gonna provide my investment certificate and bankers confirmation letter with my application, am also going for premium service, do you think there will some sort of interview regarding my investment?


_The savings may be held in any form of bank/savings account, provided that the account allows the savings to be accessed immediately (with or without a penalty for withdrawing funds without notice). This can include, for those of retirement age, savings held in a pension savings account which can be immediately withdrawn._
Appendix FM-SE 11A.

So investment, such as equity-based, or investment or unit trust, isn't allowed and will be disregarded for meeting the financial requirement.


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## Laboksi (Feb 24, 2013)

Joppa said:


> _The savings may be held in any form of bank/savings account, provided that the account allows the savings to be accessed immediately (with or without a penalty for withdrawing funds without notice). This can include, for those of retirement age, savings held in a pension savings account which can be immediately withdrawn._
> Appendix FM-SE 11A.
> 
> So investment, such as equity-based, or investment or unit trust, isn't allowed and will be disregarded for meeting the financial requirement.





This is what I found in the apendix you gave me, pls confirm to me, because I don't want to make a mistake.


(h) All documentary evidence must be original, unless otherwise stated.
(i) Evidence of profit from the sale of a business, property, investment, bond, stocks, shares or other asset will:

(i) not be accepted as evidence of income, but
(ii) the associated funds will be accepted as cash savings subject to the requirements of this Appendix and Appendix FM.

(j) Where a document is not in English or Welsh, the original must be accompanied by a certified translation by a professional translator. This translation must include details of the translator's credentials and confirmation that it is an accurate translation of the original document. It must also be dated and include the original signature of the translator.


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## Joppa (Sep 7, 2009)

What it means is simply that the sale proceeds from assets, if put into a cash account, will be accepted as cash savings. It doesn't say anything about investment instrument itself being accepted as cash savings.
So you have to liquidate (sell) your investment and turn into cash, and put into a cash account for 6 months.


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## Laboksi (Feb 24, 2013)

Joppa said:


> What it means is simply that the sale proceeds from assets, if put into a cash account, will be accepted as cash savings. It doesn't say anything about investment instrument itself being accepted as cash savings.
> So you have to liquidate (sell) your investment and turn into cash, and put into a cash account for 6 months.




Thanks for all these word of advise,there is one more thing I need to clarify
I just want to ask 

If I liquidate my investment and have the cash return to my account, is it really necessary for me to wait for six months or I can just include my investment certificate in my application, and a cover letter stating that I have these funds in investment before for 9months, to show that the funds are under my control.


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## nyclon (Apr 3, 2011)

Laboksi said:


> Thanks for all these word of advise,there is one more thing I need to clarify
> I just want to ask
> 
> If I liquidate my investment and have the cash return to my account, is it really necessary for me to wait for six months or I can just include my investment certificate in my application, and a cover letter stating that I have these funds in investment before for 9months, to show that the funds are under my control.


Unfortunately, no that's not adequate. The funds must be in a readily accessible account for a minimum of 6 months or they will not be considered. They need to see the evidence in the form of bank statements. A letter from you saying the funds were under your control will not suffice.


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## Laboksi (Feb 24, 2013)

nyclon said:


> Unfortunately, no that's not adequate. The funds must be in a readily accessible account for a minimum of 6 months or they will not be considered. They need to see the evidence in the form of bank statements. A letter from you saying the funds were under your control will not suffice.




But they said the money must be under your control for at least six month, and I have the funds in fixed deposit account,so am just gonna provide the investment certificate,showing I have these funds under my control for more than six months, and a letter also from my bank, do you think I stand any chance.


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## nyclon (Apr 3, 2011)

Laboksi said:


> But they said the money must be under your control for at least six month, and I have the funds in fixed deposit account,so am just gonna provide the investment certificate,showing I have these funds under my control for more than six months, and a letter also from my bank, do you think I stand any chance.


Being under your control is just one condition another is that the funds must be an account to which you have immediate access. You must be able to ask for the funds today and get them today. If that is not the case, then no you don't stand a chance.

From FM 1.7 7.2.2:

The savings may be held in any form of bank/savings account, provided that the account allows the savings to be accessed immediately (with or without a penalty for withdrawing funds without notice).


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## Laboksi (Feb 24, 2013)

nyclon said:


> Being under your control is just one condition another is that the funds must be an account to which you have immediate access. You must be able to ask for the funds today and get them today. If that is not the case, then no you don't stand a chance.
> 
> From FM 1.7 7.2.2:
> 
> The savings may be held in any form of bank/savings account, provided that the account allows the savings to be accessed immediately (with or without a penalty for withdrawing funds without notice).




Thanks for your support,now I have decided to bring down my funds into my savings account even before the mantuarity date which is may 2013


Now that there is new law which allow the use of investment, do think I stand any chance?

By the way,I have been in control of these money for 2 years and I think if I can provide 2 years bank statement showing how I have move the money to fixed deposit in other to gain more interest, and also return in back to my savings even before maturity date,then ukba should be able to put consideration.

Reason for all my stories is because my visa runs out in September and I don't have 6 months time to wait.


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## Laboksi (Feb 24, 2013)

Pls Joppa respond to my querry.
Now tha the home office has changed the rules and they now accept funds which comes from investment,I have liquidate my investment and transfer in cash into my savings account.so basically with this new rules I think I should fit in, and i have the investment certificates showing how funds was transfer from my account 2 years ago and how the funds has been return. I have printed out 2 years bank statement to show this.

Do you think I can use POF service? Because those savings are in my overseas account ?

Thanks hope to get a possible advise this time.


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## mishapanda (Dec 11, 2012)

I posted a similar question in an earlier thread. I haven't received any responses yet, but it does seem as though this new rule should qualify you for the financial requirement. Look at pages 37-38 of the published instructions to the ECOs: 

http://www.ukba.homeoffice.gov.uk/s...DIs/chp8-annex/section-FM-1.7.pdf?view=Binary

Seems pretty clear to me, but I would certainly appreciate the opinions of others on this forum as well.


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## Laboksi (Feb 24, 2013)

mishapanda said:


> I posted a similar question in an earlier thread. I haven't received any responses yet, but it does seem as though this new rule should qualify you for the financial requirement. Look at pages 37-38 of the published instructions to the ECOs:
> 
> http://www.ukba.homeoffice.gov.uk/s...DIs/chp8-annex/section-FM-1.7.pdf?view=Binary
> 
> Seems pretty clear to me, but I would certainly appreciate the opinions of others on this forum as well.


 


Thanks for your response,I have read the page 37 and 38 several times, and i believe section 7.2.2 of the page 38 will surely qualify me for financial requirements, I ask these questions so as to see other people view about my own case,

Pls note that my funds has been held in my fixed deposite investment account for more than 2 years,and I have transfer the funds into my savings account since last month,so I printed 2 years bank statement to show how these funds where remove into investment and also return,I also have the investment certificate which covers these 2 years periouds. 

And since I have held this investment for 2 years and also I have transfer the funds including the interest into my bank account,so what else will the home office say?

The crazy part of it is these people at the POF centre,some of them are not competent,they don't even know the immegration rules,they are dealing with sometimes.


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