3rd party funding

[razz11]

Hi people,
Could anyone be so kind to give me information about below 3 questions:

1 - Can I show some money in my personal account and the rest from a 3rd party ???

2 - I know money in UK must be in cash but what about money from outside of UK ? I am showing some money in my personal current account in UK and the rest is from my father's savings in a National Savings Centre, Pakistan. That savings are in the form of certificate of deposits (CDs) worth PKR 0.5 million each, which can be converted into cash on same day of the request. So that funds are eligible though it is not a current account ?

3 - The way for me to access this money is when those CDs are turned into cash and then my father send them to me. So, can I have access to these funds and are disposable to UK ???

Please, your help will be much appreciated.

[tuliprose]

Hi people,
Could anyone be so kind to give me information about below 3 questions:

1 - Can I show some money in my personal account and the rest from a 3rd party ???

2 - I know money in UK must be in cash but what about money from outside of UK ? I am showing some money in my personal current account in UK and the rest is from my father's savings in a National Savings Centre, Pakistan. That savings are in the form of certificate of deposits (CDs) worth PKR 0.5 million each, which can be converted into cash on same day of the request. So that funds are eligible though it is not a current account ?

3 - The way for me to access this money is when those CDs are turned into cash and then my father send them to me. So, can I have access to these funds and are disposable to UK ???

Please, your help will be much appreciated.

You can show your own funds plus father's money. But the issue is National Saving Certificate from Pakistan are not acceptable. Even funds in UK in form of ISAs are not acceptable.

Also, National Saving Centre may issue you a letter stating that funds are cashable at any time but they will never write that funds are transferable to UK to invest in a business.

You need to have cash in current or saving account, held in a regulated financial institution and those funds can be freely transferable to UK unless that institution is also registered with FSA.

[razz11]

My only question remains now is that ISA is basically a saving account in itself and that is not acceptable to UKBA . So, how savings account from pak be acceptable ? In pak, banks normally offer pls (profit and loss sharing) account. So, does it make it different from an ISA ???

[jawadjee85]

My only question remains now is that ISA is basically a saving account in itself and that is not acceptable to UKBA . So, how savings account from pak be acceptable ? In pak, banks normally offer pls (profit and loss sharing) account. So, does it make it different from an ISA ???

me and my entrepreneur team partner have Joint account in Nation Savings Center Pakistan. and we sent that statement to UKBA. so far no objection received. and UKBA have already done the verification from Bank as well. the only statement they don't accept from Pakistan is from Post Offices. you can check it at below link.
http://www.ukba.homeoffice.gov.uk/sitec ... titutions/

[libra302]

@jawadjee85 do u hav saving account in national saving center or saving certificates ?

[jawadjee85]

@jawadjee85 do u hav saving account in national saving center or saving certificates ?

I have saving account.

[razz11]

@jawadjee85.........my father has something called "Behbood savings certificate "......is this a valid savings account ?

[tuliprose]

@jawadjee85 do u hav saving account in national saving center or saving certificates ?

I have saving account.

Saving account is acceptable but not saving certificates.

[razz11]

thanks for reply tuliprose........so pls (profit and loss sharing) account is acceptable ???......or does it has to be in a simple savings account ?

[tuliprose]

thanks for reply tuliprose........so pls (profit and loss sharing) account is acceptable ???......or does it has to be in a simple savings account ?

Which bank's PLS account are you using?

In UKBA listed bank's PLS saving account are acceptable.

[razz11]

it is Bank Al-Falah......

[samz98]

from my point of view national saving certificates are acceptable because that is not fix and u can cash it whenever u want and after converting into cash and transferable into uk, cash ISA is different from certificate of deposit because on certificates there is no minimum limit as u can cash it ,monthly income certificates are like monthly saving account
2- how ukba will come to know that money is in certificates form as in templates there is no field where you gives all this information and we can get statement aswell.
3- there is nothing like this in policy guidance which shows monthly saving certificates Are not acceptable basically monthly saving certificates are when u give cash and bank will give you certificate on which u can get profit every month and get your whole cash back whenever u want.

Suggestions from seniors are welcome, thanks

[tuliprose]

it is Bank Al-Falah......

Bank Alfalah's saving account is fine but make sure you get a required letter from Bank.

[tuliprose]

from my point of view national saving certificates are acceptable because that is not fix and u can cash it whenever u want and after converting into cash and transferable into uk, cash ISA is different from certificate of deposit because on certificates there is no minimum limit as u can cash it ,monthly income certificates are like monthly saving account
2- how ukba will come to know that money is in certificates form as in templates there is no field where you gives all this information and we can get statement aswell.
3- there is nothing like this in policy guidance which shows monthly saving certificates Are not acceptable basically monthly saving certificates are when u give cash and bank will give you certificate on which u can get profit every month and get your whole cash back whenever u want.

Suggestions from seniors are welcome, thanks

This is what i found in Policy Guidance (Page 17 of 52)

The money must be in cash in the account. We will not accept ISA accounts or assets such as stocks and shares;

Even Saving Certificates of any Bank i-e Fixed Deposit Certificates or Term Deposit Certificates (TDR) are also not acceptable.