Maintaining Proof of Funds in Bank during waiting period

[Harri]

Dear Forum Members,
I am bit confused and want to request seniors to please guide me. I had sent my completed application to CHC London in April 2010, with that I had attached proof of funds as a bank statement and also a letter from HSBC showing a balance almost 30% more that what is required for a family of four. And I was keeping that amount for a year in same account. Afterwards I keep spending money out of that now about 50% of that is left.
Secondly I want to transfer my savings in National Savings to get some return also. I will coup up the defeciency and will open another account in national savings and start my wait. Because CHC London may take few years to decide, dollars rates are rising and our savoings are being lost in the wait.
Will CHC London take a negative view of this? Is it mandatory to keep the same amount static in a bank? Will CHC London will verify my HSBC account and found the balance almost nill?

In case if CHC asks me to resubmit the statement I can show the required amount.

Please I want a comprehensive answer.

 

[Cappuccino]

Dear Forum Members,
I am bit confused and want to request seniors to please guide me. I had sent my completed application to CHC London in April 2010, with that I had attached proof of funds as a bank statement and also a letter from HSBC showing a balance almost 30% more that what is required for a family of four. And I was keeping that amount for a year in same account. Afterwards I keep spending money out of that now about 50% of that is left.
Secondly I want to transfer my savings in National Savings to get some return also. I will coup up the defeciency and will open another account in national savings and start my wait. Because CHC London may take few years to decide, dollars rates are rising and our savoings are being lost in the wait.
Will CHC London take a negative view of this? Is it mandatory to keep the same amount static in a bank? Will CHC London will verify my HSBC account and found the balance almost nill?

In case if CHC asks me to resubmit the statement I can show the required amount.

Please I want a comprehensive answer.

Technically the funds should be available throughout the entire process. The reality however is that they ask for proof of funds at application stage, and will probably ask to see proof of funds during record of landing, but in the interim they won't usually check. They can, however, at any stage in processing ask to see additional proof of funds so it is highly advisable to keep these funds available and provable.

AFAIK CHC have no legal authority to examine your bank funds without your permission, and I am pretty sure HSBC will not divulge any information to anyone who is not the account holder, their security checks are pretty firm since you need a 6 digit pin for telephone banking - so if they want to see further proof they will write to you and ask you to provide it.

The general idea of prooving funds again on landing is to ensure that the applicant hasn't spent all the funds since applying, and please remember that if CHC London ask for further proof they will usually give you 60 days in which to provide it, so as long as you can get proof of the funds again within that time you will be fine. If you have to transfer large sums of money into your account you will have to prove the source of the funds to prove the money is yours.

Best of luck,
Wayne.

 

[Andrea45]

thanks Wayne, i was having the same problem.
I AM THE PRINCIPAL APPLICANT AND MY SPOUSE HAS SOME HUGE AMOUNT FROM STANBICIBTC PENSIONS WHICH HE CAN ONLY COLLECT IF HE RESIGNS OR RETIRE. CAN WE INCLUDE THIS STATEMENT TO MAKE UP THE TOTAL AMOUNT REQUIRED FOR US OR WILL IT NOT BE ACCEPTED?

 

[Harri]

Many thanks for your reply.
Can someone with an experience of same situation reply me? That would be great help, I mean someone who faced problems due to not maintaining the amount throughout the wait period. As far verifying, documents submitted by the applicants from Pakistan can be verfied.

 

[gigab]

Hi Harri
Remember not only you have to show proof of funds when you send your application but also when they ask for medicals they usually ask for proof of funds again. And at the POE too.
Gigab