Maintenace: Is cash in a brokerage account acceptable?

I will be applying for Tier 1 from the US and I'm concerned about the maintenance requirement. I have more than the cash needed for maintenance, but it is sitting in a money market in a brokerage account rather than in a bank proper. I believe there should be no problem using this to fulfill the requirement but I thought someone here would have a clearer understanding. I wanted to contact the UK Border Agency directly to ask but I can't find contact information for people calling from the US.

Cheers!

210. Evidence must be in the form of cash funds held in an account (this includes savings accounts and current accounts even when notice must be given). Other accounts or financial instruments such as shares, bonds, pension funds etc, are not acceptable, regardless of notice period.

Source: Page 37 in the policy guidance

http://www.ukba.homeoffice.gov.uk/sitec ... idance.pdf

Hi Aruni4470,

Thanks for the pointer. The words "current account" don't mean anything to an American but a search of the Internet reveals that in the UK this means a checking account in the US. So this is bad news for me.

Hi yggdrasil,

I am not familiar with the type of bank accounts in America. That is why I have just pointed out the requirement in the policy guidance. Maybe somebody who moved to UK from US will be able to comment. All the best!!

aruni4470 wrote:Hi yggdrasil,

I am not familiar with the type of bank accounts in America. That is why I have just pointed out the requirement in the policy guidance. Maybe somebody who moved to UK from US will be able to comment. All the best!!

Much appreciated!

yggdrasil wrote:I will be applying for Tier 1 from the US and I'm concerned about the maintenance requirement. I have more than the cash needed for maintenance, but it is sitting in a money market in a brokerage account rather than in a bank proper. I believe there should be no problem using this to fulfill the requirement but I thought someone here would have a clearer understanding. I wanted to contact the UK Border Agency directly to ask but I can't find contact information for people calling from the US.

Cheers!

I believe, you cant show this money. Bank / Financial Institution is completely different from a Security (Equities / Derivaties / Futures) company.