Awaiting ILR decsion - Can I change banks in the meantime?
Posted: Sun Apr 21, 2024 10:24 am
Hi Everyone,
An ILR application for my spouse has been submitted 6 weeks ago, and referring to the timelines thread we should hopefully have a decision in the next 2 months provided there are no complications.
We both comfortably meet and exceed the financial requirement by way of salary, however I also declared a cash Isa saving account (1 year fixed term) whose balance over the last year comfortably exceeds the cash earnings threshold for ILR.
Now this cash ISA has matured since our application and further to adding the accumulated interest, the bank has converted it to their standard ISA offering with a considerably lower rate of interest. I would like to transfer this ISA to a completely different bank to take advantage of a much better interest rate.
So my question - would moving the funds to a different bank impact our ILR application given it has been declared? As I mentioned we meet and exceed the income requirement comfortably via combined salaries.
Any advice would be appreciated.
An ILR application for my spouse has been submitted 6 weeks ago, and referring to the timelines thread we should hopefully have a decision in the next 2 months provided there are no complications.
We both comfortably meet and exceed the financial requirement by way of salary, however I also declared a cash Isa saving account (1 year fixed term) whose balance over the last year comfortably exceeds the cash earnings threshold for ILR.
Now this cash ISA has matured since our application and further to adding the accumulated interest, the bank has converted it to their standard ISA offering with a considerably lower rate of interest. I would like to transfer this ISA to a completely different bank to take advantage of a much better interest rate.
So my question - would moving the funds to a different bank impact our ILR application given it has been declared? As I mentioned we meet and exceed the income requirement comfortably via combined salaries.
Any advice would be appreciated.