Do I have to explain the large transfers on my bank statement?

[Elaine83]

Hi Guys, I just have a question. My aunt had transferred almost 60 % of my proof of fund cost via telegraphic transfer from canada to my account. I realized now that on the bank statement it will reflect the telegraphic transfer details such as her account number and her name.

You think they will ask for more info about the transfer and be doubtful? I was thinking to mention that this was personally borrowed from a relative on which I will pay in 2-3 years time once Im back in my home country after my study. Let me know your thoughts. Thanks

 

[Junaid.Bjorn]

I dont think you need to explain it. However, explaining it might also help. It's a 50-50 chance in my opinion.

 

[xmaanix]

50/50 Chance in my opinion too!!

 

[rhasan]

Hi Guys, I just have a question. My aunt had transferred almost 60 % of my proof of fund cost via telegraphic transfer from canada to my account. She split the transfer on 3 diff transaction with a week apart on each. I realized now that on the bank statement it will reflect the telegraphic transfer details such as her account number and her name (not sure if her bank is incl coz I really havent requested a printed one yet, just asked my bank over the phone). The 3 transactions were made 2-3 weeks during June this month and I am planning to print the statement on 1st of week of July right after I received my salary so i can add a few amount as well and apply for the student permit.

You think it would be better to mention on my SOP on where did I get the money and explain the large 3 telegraphic transfers that were made 2-3 weeks ago on my account? or just leave it? As much as possible I don't want them to know that I only borrowed that money which is more likely not possible. or you think they will ask for more info about the transfer and be doubtful? My plan is to mention that this was personally borrowed from a relative ( not mentioning the country) on which I will pay in 2-3 years time once Im back in the Philippines after my study. You think this is a good idea? Let me know your thoughts. Thanks

Well banks are always for transferring/depositing/withdrawing money in various forms. Obtaining money through TT is not a big deal and it is just another transaction. And I think VO will count it just like that. Just make sure that your local CHC doesn't need any sort of maturity time for the money being in the bank.

Your aunt simply transferred the money and all the lending/paying back are personal stuffs - VO doesn't need to know the internal news. You are not hiding anything over here; you are simply not saying the internal stories and VOs don't need to know. There are many people who lend money from others, put it in their bank, show the bank balance and after getting visa, they simple pay back the loan. So, I guess you don't have to mention any reason for the transfer. VO is only interested in seeing how much money you have and whether it is enough for your expenditure.

Then again, this is a matter which I have not dealt with in case of student visa and I am just answering from simple logic. Sometimes, in vase of CHC, the logics get twisted. So I suggest that you talk with a registered agent or even better a representative of CHC personally. You will be getting the correct information in that way.

Do let me know whether or not I am right so that I can correct myself if needed

 

[Elaine83]

Well banks are always for transferring/depositing/withdrawing money in various forms. Obtaining money through TT is not a big deal and it is just another transaction. And I think VO will count it just like that. Just make sure that your local CHC doesn't need any sort of maturity time for the money being in the bank.

Your aunt simply transferred the money and all the lending/paying back are personal stuffs - VO doesn't need to know the internal news. You are not hiding anything over here; you are simply not saying the internal stories and VOs don't need to know. There are many people who lend money from others, put it in their bank, show the bank balance and after getting visa, they simple pay back the loan. So, I guess you don't have to mention any reason for the transfer. VO is only interested in seeing how much money you have and whether it is enough for your expenditure.

Then again, this is a matter which I have not dealt with in case of student visa and I am just answering from simple logic. Sometimes, in vase of CHC, the logics get twisted. So I suggest that you talk with a registered agent or even better a representative of CHC personally. You will be getting the correct information in that way.

Do let me know whether or not I am right so that I can correct myself if needed

Hi Rhassan, what do you mean "make sure that your local CHC doesn't need any sort of maturity time for the money being in the bank" isnt not all CHCs have same standards of 4 months bank statement? sorry no idea about this.

Well honestly I dont know any registered agent or a CHC rep :

 

[rhasan]

Hi Rhassan, what do you mean "make sure that your local CHC doesn't need any sort of maturity time for the money being in the bank" isnt not all CHCs have same standards of 4 months bank statement? sorry no idea about this.

Well honestly I dont know any registered agent or a CHC rep :

Well in Bangladesh, there is no need for any sort of maturity of money (like the 4 months mentioned in CHC website). That's why I asked you to look for it in the local CHC policies.

How do you process visa application in your country? Like do you have to apply directly to CHC or through some representative or something? Like in Bangladesh, VFS global handles all the stuffs..

 

[Elaine83]

Well in Bangladesh, there is no need for any sort of maturity of money (like the 4 months mentioned in CHC website). That's why I asked you to look for it in the local CHC policies.

How do you process visa application in your country? Like do you have to apply directly to CHC or through some representative or something? Like in Bangladesh, VFS global handles all the stuffs..

you lost me here. the requirement on the local CHC website says 6 months bank statement Is this the maturity that you are referring to?
We have to apply directly to embassy.(PS. I will not be applying in the Philippines since Im currently working overseas).

 

[rhasan]

you lost me here. the requirement on the local CHC website says 6 months bank statement Is this the maturity that you are referring to?
We have to apply directly to embassy.(PS. I will not be applying in the Philippines since Im currently working overseas).

Well previously I used to know that 4months bank statement means that you have to provide bank statement of AT LEAST 4 months. But, in one of the posts over here, I saw about the maturity of the money like the money has to be in the bank for 4 months or something. I am really not sure about this Extremely sorry for confusing you

Well is init there any sort of help desk or anything in CHC over there? From which country will be applying from?

 

[Junaid.Bjorn]

you lost me here. the requirement on the local CHC website says 6 months bank statement Is this the maturity that you are referring to?
We have to apply directly to embassy.(PS. I will not be applying in the Philippines since Im currently working overseas).

4 months or 6 months, both work for Abu Dhabi

 

[Elaine83]

4 months or 6 months, both work for Abu Dhabi

Hi Junaid, Abu Dhabi doesnt have the maturity thingy that rhassan is talking about right?

 

[Junaid.Bjorn]

Hi Junaid, Abu Dhabi doesn't have the maturity thingy that rhassan is talking about right?

Actually, the maturity thing is about how long the funds stay in ur account.
Usually its 3 months--6 months.
Canada asks for 4 months or 6 months.

What it means is, when ur gettin ur bank statement, u shud get it for the previous 4 months or 6 months. The statement shud show u have held enough money in the previous time frame, whatever u choose it to be.
Howvere, its not always compulsory, though it is recommended. If u reallllyyyyyy wnna get there, even 1 month bank statement can do the trick. However, it takes alot of luck and is not recommeded

 

[Elaine83]

Actually, the maturity thing is about how long the funds stay in ur account.
Usually its 3 months--6 months.
Canada asks for 4 months or 6 months.

What it means is, when ur gettin ur bank statement, u shud get it for the previous 4 months or 6 months. The statement shud show u have held enough money in the previous time frame, whatever u choose it to be.
Howvere, its not always compulsory, though it is recommended. If u reallllyyyyyy wnna get there, even 1 month bank statement can do the trick. However, it takes alot of luck and is not recommeded

ok thanks. on my case where most of the funds were transferred this month I have no choice but to show to them still 4 months since this is the requirement.

 

[Junaid.Bjorn]

ok thanks. on my case where most of the funds were transferred this month I have no choice but to show to them still 4 months since this is the requirement.

The requirement is basically tuition fees and $10,000.
If u still had enough money before the transfers, it wont be a problem.

However, if u dont. It still wont be a big problem.
You can just explain it to the VO in a statement

 

[Elaine83]

The requirement is basically tuition fees and $10,000.
If u still had enough money before the transfers, it wont be a problem.

However, if u dont. It still wont be a big problem.
You can just explain it to the VO in a statement

there goes my question on this thread ,to mention about the large transfers on the study plan or not.. ;D

 

[Junaid.Bjorn]

there goes my question on this thread ,to mention about the large transfers on the study plan or not.. ;D

Lol
All u have to do is show the minimum requirement. But ofcourse, the more u show th better. If he sees that u had the minimum amount 5 months ago, and now after the transfers it is 4 times the minimum requirement, it wont be a problem.