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Proving the existence of funds

Discussion in 'Money Matters' started by Peat, Mar 19, 2016.

  1. Peat

    Peat Member

    In various posts there are frequent references to us having to have sufficient funds.I know that the authorities need evidence of one's financial position,
    but my girlfriend tells me I would need to bring my bank statements with me to the Philippines;I told her if I did that my bank accounts would be soon emptied !It seems Philippinas are far too trusting,when I told her of the scams going on she was incredulous.
    Can anyone tell me what the procedure is ?
  2. Timmers

    Timmers Well-Known Member Trusted Member

    Why do you need to be taking bank statements to the Philippines, for what reason?
  3. Garydarby84

    Garydarby84 Member

    also what scams? i haven't heard anything like this before, would be nice to know what they are so we could avoid the same problems
  4. Micawber

    Micawber Renowned Lifetime Member

    When it comes to UK visa applications you need to prove either income level or cash saving level.
    That's it.
    Not sure why you think your bank accounts would be emptied ?
  5. Maharg

    Maharg Well-Known Member

    If you are applying for a marriage visa you need to provide 6 months worth of bank statements.

    The most recent must be no more than 28 days old. There is no other way than your girlfriend having these with her in The Philippines when she applies.
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  6. ChoiAndJohn

    ChoiAndJohn Well-Known Member Trusted Member

    As above, a visa application needs to be accompanied by bank statements, payslips and other documentation from the sponsor.
    If you are in the middle of applying for a visa, then your girlfriend is correct.
    If you are not.... then she doesn't need them, no.

    There is no way for your bank account to be 'emptied' by merely showing someone your bank statement but clearly you should keep that sort of document under tight control and ensure its used as part of a visa application.
  7. bigmac

    bigmac Well-Known Member Trusted Member

    maybe peat means as soon as his girfriend sees his bank balance---it will be soon emptied lol.:eek:
  8. Peat

    Peat Member

    I can see now my gf was jumping the gun,she isn't applying for a visa yet.Quite a few years ago well before the intenet really took off I had a call from the police,someone was trying to take out a loan in my name all they had was a non-financial letter with my name and address on it.But these days things are worse The Met. have issued a 52 page booklet http://www.met.police.uk/docs/little_book_scam.pdf

    As I am retired and have no payslips,and obviously do not keep all my eggs in one basket,I would have to furnish her with a range of documents aside from bank statements- which are now "paperless". Would it be feasible to print the documents in their presence off my usb stick and go on-line if needed with the same live OS stick ,using their computer for them to view my details ?

    Bigmac- she wouldn't empty my accounts...but calls me kuripot when I tell her chocolate is fattening!!
  9. bigmac

    bigmac Well-Known Member Trusted Member

    Kuripot is good. join the club.

    answer to your question about printing--is--no. must be paper originals. so you will need to arrange this if the time ever comes.
  10. ChoiAndJohn

    ChoiAndJohn Well-Known Member Trusted Member

    Agree with @bigmac. When the time comes to file documents for a visa, there are very specific requirements that must be followed to the letter. There is no flexibility.

    You must provide either original paper statements from the bank (not online print outs), or, online printed bank statements that have had every page (front and back if double sides) stamped and certified by the issuing bank as being genuine.

    The statements must also show a running balance. A list of transactions for example is not acceptable.

    I would suggest that you prepare well in advance, and if you are retired, that implies you may well be relying partially or wholly on savings and not income.

    You can calculate the savings level that you will need by using the following formula.

    Savings needed = 16,000 + 2.5 x (18,600 - current income) . The current income figure that you will use is your gross income (before tax).

    If, for example you intended to use 'all savings' to satisfy the income requirement then you would require £62,500 in the bank using the above formula.

    If your income was £8000 per year, then you would need £42,500 in the bank, and so on.

    I would suggest that about a year before you apply for a visa you do the following:

    1. Transfer the required 'savings amount' (above) into an 'instant access' savings account that produces paper statements. It is a requirement that any funds you are using to satisfy the income requirement are 'instantly accessible'.

    2. Have the money in there for at least six consecutive months before you apply for a visa.

    3. Collect original paper statements for the account on a monthly basis showing the balance.

    Note that you may not include interest income from the above amount in any 'income' calculation because that would be double-counting the income.

    Hope this helps.
  11. Maharg

    Maharg Well-Known Member

    As others have said, if you think you are likely to apply for a marriage visa in the future it's best to switch you bank to receiving paper statements now.

    It will save you a lot of trouble in the future.

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