Meeting the UKVI finance requirements
The UKVI require applicants to show access to any outstanding tuition fees for your first academic year plus nine months of maintenance for 28 consecutive days.
The maintenance fee per month is £1,265. This means you will need to show access to £11,385 plus any outstanding tuition fees.
You can use the following documents to evidence your finances to the UKVI:
• Personal bank statements;
• Certificate of deposit;
• Letter from your bank, or a regulated financial institution;
• Letter from an official financial sponsor;
• Letter from a regulated financial institution confirming that you have a loan from the national government, the state or regional government, or a government-sponsored student loan company;
• Letter from a regulated financial institution confirming that you have a loan that is part of an academic or educational loans scheme;
• Statements of a passbook from a building society.
Please be aware that you will not be issued with a CAS until you have met the UKVIs regulations in the correct format. Applicants holding an unconditional offer are not automatically entitled to a CAS and the decision of Bucks New University as to whether or not to issue a CAS will be final.
A bank account can be in your name or in one or both of your parent’s or legal guardian’s name. It can also be a joint account you hold with someone else. You can use more than one account if necessary, and you can use a combination of your account(s) and your parent’s or legal guardian’s account(s). However, it is strongly recommended would strongly suggest you use only one bank account. This avoids confusion with your application at the UKVI.
If you use your parent or legal guardians bank account, you will also need to submit a letter of consent that confirms you can use the funds plus documentary evidence of your relationship (usually a birth certificate).
Your bank statements must show that the full amount of money that you need has been in the account for 28 consecutive days up to the date of the closing balance. The UKVI will count back 28 days from your last transaction, they will not count the final balance that is sometimes stated on the top of your bank statement. This means that the account must not have dropped below the amount that you need to show at any time during the 28-day period. If it does, your immigration application is likely to be refused. Furthermore, the final date of this 28-day period must not be more than 31 days old on the date that you submit your application.
If you use online bank statements, there should be a supporting letter from the bank on company-headed paper, confirming the authenticity of the statements provided. Alternatively, an electronic bank statement bearing the official stamp of the bank in question will be accepted. The stamp must appear on every page of the statement.
If you submit bank statements form your home country, the UKVI will use OANDA to convert your balance into British Pounds Sterling (GBP). Please be aware that the UKVI will use OANDA to monitor changes in the currency exchange rate.
Certificate of deposit+
This is a certificate issued by a bank to confirm that the named person has deposited or invested a specific amount of money. Certificates of deposit are not listed as acceptable evidence in the Immigration Rules but the Home Office’s modernised guidance for staff assessing Tier 4 applications confirms that a certificate of deposit is accepted if it meets both the following requirements:
• The certificate of deposit must have been issued within 31 days of the date of application;
• At least 28 days must have elapsed between the date of the deposit and the date of issue of the certificate.
There are no further requirements for the certificate. For example, there is no maximum time limit on how long you have held the funds, and a certificate is acceptable even if it has wording that says the funds are frozen or inaccessible.
The bank letter must clearly show the following information:
• It must include your name and account number;
• It must include the date of letter (no more than one month old);
• It must include the bank’s name and logo;
• It must clearly state the amount of money in the account;
• It must confirm that the required amount has been there for at least 28 days.
You can find a draft example of a bank letter here.
Official financial sponsors are defined in the Tier 4 policy guidance as:
• Her Majesty’s Government;
• Your home government;
• The British Council;
• Any international organisation, international company, university or a UK independent school.
Your official financial sponsor must have the funds to support you financially while you are studying in the UK and have the capacity to move. The letter should clearly state what costs they are covering and for how long.