Today UKBA have published an initial list of financial institutions which, in their view, “do not verify financial statements to our satisfaction.”
If a Tier 4 applicant submits documents showing that maintenance funds are being held in a financial institution which appears on the list just issued, that applicant will receive no points for maintenance.
A 30 day notice period has been granted from the date when a financial institution is first listed before the new rule takes effect.
UKBA”s rationale for this step is that it will help to ensure student visa applicants have the necessary maintenance funds in order to support themselves and pay for their course in the UK.
It is therefore extremely important that every Tier 4 applicant ensures their maintenance funds are being held in an appropriate financial institution, before lodging an application with UKBA. The full list can be viewed here, and Newland Chase will be happy to assist anyone with student visa applications or general queries in light of this announcement.