Cash savings in Pkr

[Wardariaz]

Hi it is a difficult question for me atleast.

i want to deposit 62500 in pkr in my home currency. currently the exchange rate is 165. So i deposit ( 62500*165) that much in my account.

Now what on the date of application the exchange rate is 170. Then can i deposit that much more money in account or what ?

[seagul]

Most important than exchange rate for you to know that saving need to stay for at least 6 months in the account and you would have to declare their source too.

[Wardariaz]

It is a gift from parents. And it can stay there for more than 6 months because i dont need it for daily life.
But if you could answer my query ?

[Casa]

You will have to allow for a decrease in the currency exchange rate. If this is less than the equivalent of £62,500 on the date you submit your application, you will fail to meet the mandatory minimum savings limit. You can't 'top up' the savings as they additional deposit won't have been held in an accessible account for at least 6 months.

[Wardariaz]

Thankyou so much.

[Casa]

Thankyou so much.

I assume you have a UK bank account. The solution may be to convert the currency to £ Sterling and hold it in an accessible UK account for the required 6 months.

[Wardariaz]

yes i will have to put it in GBP account.

[seagul]

Thankyou so much.

HO was previously using oanda.com from long past which I am not sure that whether they still using that because they have their own higher exchange rates. But you can read about their exchange rate policy at below:
https://assets.publishing.service.gov.u ... Policy.pdf

[Londoner007]

Home Office will want to know source of this cash gift - which is a gift to you

They will also want to know how the person gifting you this cash got the money too - so make sure you have all trails covered if you want to go via CAT D only route especially where it is over 60k gifted to you!

They have previously asked people why has a wedding gift come some time after wedding and just before an application for settlement is made. Bare all this in mind and I hope InshaAllah you get the visa.

[Wardariaz]

Source is sale of property which we will include in our file.

I have share in my parents property so this is some of the share i am getting earlier in order to do my visas with it. This one and the next stages as well.

But the interesting thing is why they are gifting me now ? They are obviously gifting me because i need it for visa. Later if i need to buy house in UK they might give me more as well. So this is not a wedding gift as such this is being given for the visa.

But not with the intention of return or anything.

Shall i include a valuation of my parents total property to show that this is a small part of it ?