Regarding Funds

Hello everyone! I recently had a problem regarding maintenance of funds. I was wondering if my maintenance amount fell under £800 for a minute, will that be a problem in the application process? While moving funds between accounts I accidentally went under, but like I mentioned, it was barely for a minute. I have not applied for my PSW yet and intend to do so by the end of this month. Since this transaction will show in my statement, will it affect my three month maintenance period? Thanks in advance for your replies!

Dear, it is not a big issue but it could be because it depends on the caseworker that you will get if he is sensible enough to see it. However as this transaction will show on your statement so yes it can effect but you can also be lucky

Thanks for your reply.

donjoma wrote:Hello everyone! I recently had a problem regarding maintenance of funds. I was wondering if my maintenance amount fell under £800 for a minute, will that be a problem in the application process? While moving funds between accounts I accidentally went under, but like I mentioned, it was barely for a minute. I have not applied for my PSW yet and intend to do so by the end of this month. Since this transaction will show in my statement, will it affect my three month maintenance period? Thanks in advance for your replies!

I had a similar situation where, while transferring money between my current and savings accounts. The bank (Barclays) statement showed that I withdrew an amount that would have made my balance drop below £800. However there was a same (immediate) transfer that topped it back over £800. In the case of Barclays statements, they do not show the balance after individual transactions, hence the only balance shown on the statement for that day was the final amount.

If your statement displays the balance of your account after every single transaction, as opposed to an end of day balance, then you may be out of luck. However, if it only shows end of day balance, then your chances are much much better.

By the way, I got my visa about a month ago.

wazobia wrote:

donjoma wrote:Hello everyone! I recently had a problem regarding maintenance of funds. I was wondering if my maintenance amount fell under £800 for a minute, will that be a problem in the application process? While moving funds between accounts I accidentally went under, but like I mentioned, it was barely for a minute. I have not applied for my PSW yet and intend to do so by the end of this month. Since this transaction will show in my statement, will it affect my three month maintenance period? Thanks in advance for your replies!

I had a similar situation where, while transferring money between my current and savings accounts. The bank (Barclays) statement showed that I withdrew an amount that would have made my balance drop below £800. However there was a same (immediate) transfer that topped it back over £800. In the case of Barclays statements, they do not show the balance after individual transactions, hence the only balance shown on the statement for that day was the final amount.

If your statement displays the balance of your account after every single transaction, as opposed to an end of day balance, then you may be out of luck. However, if it only shows end of day balance, then your chances are much much better.

By the way, I got my visa about a month ago.

Unfortunately, I have a Lloyds account and they show every single transaction. Anyone out there have any experience with a Lloyds account? Thanks for the reply by the way. I guess I just have to keep my hopes up for this to work out!