Tier 1 (PSW) - maintenance fund issue

[vbsin]

Hi All,

Just hoping someone can answer this query for me. UKBA was very unhelpful.

I have maintained £800+ as daily closing balance for each day of the last 3 months. Unfortunately, on one day the amount went below £800 - but I quickly transfered money into that account. So while the balance shows £800+ as opening and closing amounts for the day, there was one transaction which took the amount below £800. Does UKBA look at closing balances for the day or the balance for the entire period (even hourly)?

I also would like some further clarifications. An UKBA official informed my friend that he can use a joint account as proof, as far as he is named on the account. Is this true?

Thanks... and have a nice day

[tvn_ramesh]

Hi All,

Just hoping someone can answer this query for me. UKBA was very unhelpful.

I have maintained £800+ as daily closing balance for each day of the last 3 months. Unfortunately, on one day the amount went below £800 - but I quickly transfered money into that account. So while the balance shows £800+ as opening and closing amounts for the day, there was one transaction which took the amount below £800. Does UKBA look at closing balances for the day or the balance for the entire period (even hourly)?

I also would like some further clarifications. An UKBA official informed my friend that he can use a joint account as proof, as far as he is named on the account. Is this true?

Thanks... and have a nice day

HO are trying to be very strict on the mainteannce funds issue.. they are not sparing even 1pence drop from the £800...

YES, if you have a joint account with you being one of the account holders (ur name in the account) you CAN use that account along with the current account to counter that drop below 800£ on that particular day.. actually you can show any no. of accounts to qualify for the 800£ maintenance as long as you are one of the account holder..

[ChetanOjha]

Hi All,

Just hoping someone can answer this query for me. UKBA was very unhelpful.

I have maintained £800+ as daily closing balance for each day of the last 3 months. Unfortunately, on one day the amount went below £800 - but I quickly transfered money into that account. So while the balance shows £800+ as opening and closing amounts for the day, there was one transaction which took the amount below £800. Does UKBA look at closing balances for the day or the balance for the entire period (even hourly)?

I also would like some further clarifications. An UKBA official informed my friend that he can use a joint account as proof, as far as he is named on the account. Is this true?

Thanks... and have a nice day

Comments removed by self.

[push]

Hi All,

Just hoping someone can answer this query for me. UKBA was very unhelpful.

I have maintained £800+ as daily closing balance for each day of the last 3 months. Unfortunately, on one day the amount went below £800 - but I quickly transfered money into that account. So while the balance shows £800+ as opening and closing amounts for the day, there was one transaction which took the amount below £800. Does UKBA look at closing balances for the day or the balance for the entire period (even hourly)?

I also would like some further clarifications. An UKBA official informed my friend that he can use a joint account as proof, as far as he is named on the account. Is this true?

Thanks... and have a nice day

If closing balance of the particular went below £800 than you are in trouble. But if you have quickly transferred the amount back in your account bring back the closing balance of the account over £800 you are fine. Example of the event is below:

Date------------>Paid Out---------->Paid In------------>Balance
----------------------------------------------------------------
01/01/2009---->100 ---------->0-------------------->900
02/01/2009----->200-------------->0------------------->700
02/01/2009------>0---------------->250----------------->950

Basis of this interpretation? i.e. close of day balance should be looked at and not every transaction? The Guidance note says:

• that there are enough funds present in the account (the balance must always be at least £2,800 or £800, as appropriate) covering the three month period before the date of application;

Shouldn't always mean "at all times"??

[ChetanOjha]

Hi All,

Just hoping someone can answer this query for me. UKBA was very unhelpful.

I have maintained £800+ as daily closing balance for each day of the last 3 months. Unfortunately, on one day the amount went below £800 - but I quickly transfered money into that account. So while the balance shows £800+ as opening and closing amounts for the day, there was one transaction which took the amount below £800. Does UKBA look at closing balances for the day or the balance for the entire period (even hourly)?

I also would like some further clarifications. An UKBA official informed my friend that he can use a joint account as proof, as far as he is named on the account. Is this true?

Thanks... and have a nice day

If closing balance of the particular went below £800 than you are in trouble. But if you have quickly transferred the amount back in your account bring back the closing balance of the account over £800 you are fine. Example of the event is below:

Date------------>Paid Out---------->Paid In------------>Balance
----------------------------------------------------------------
01/01/2009---->100 ---------->0-------------------->900
02/01/2009----->200-------------->0------------------->700
02/01/2009------>0---------------->250----------------->950

Basis of this interpretation? i.e. close of day balance should be looked at and not every transaction? The Guidance note says:

• that there are enough funds present in the account (the balance must always be at least £2,800 or £800, as appropriate) covering the three month period before the date of application;

Shouldn't always mean "at all times"??

Yes. You are right. Thanks for correcting. Removed my post.

[push]

Did not want you to remove your post. I just thought you had some link or something else to support the statement and thats why the question.

[ChetanOjha]

Did not want you to remove your post. I just thought you had some link or something else to support the statement and thats why the question.

Never mind. It was incorrect info anyway. Guess lot of things were going on in mind yesertday. Infact for my extension, I did the same thing you mention i.e. "total available balance at all times" and not closing balance for the day..