Due to an unusually high number of visa refusals related to incorrect bank statements we decided to educate prospective applicants on the requirements. Information here were confirmed by UKVI before publication.

It is important to understand how Proof of Funds requirements by UKVI works so that you can make great success of your visa application. Read carefully. You will discover in this write up that opening your account today and printing your statement the next day or week to submit to embassy falls short of UKVI requirement, the money must in the account for atleast 28 consecutive days before visa application. You will also see why it is recommended and also A MUST that the fund should remain in your account atleast 1 month after visa application.

What's the requirements and how do you meet them?

1. Bank statement are accepted from any bank - commercial banks, microfinance banks, building society banks, as far as they are licensed and regulated by CBN and they use electronic record keeping - this simply means use of computer and not hand written

2. The money can be held in
- Current account
- Saving account
- Fixed deposit

3. The amount to held depends on your course and duration of studies. The amount should include;
- Your tuition fee
- Your living expenses (maximum of 9 months)
- Your travel budget

Living expenses is set at £1334 per month (maximum of 9 months) for those studying in London and £1023 per month (maximum of 9 months) for those studying outside London

For instance, if you are studying 3 years Bachelor degree or 1 year Masters in London, and your tuition fee is £14,000 and you have paid £2000 as deposit. Let's peg your travel budget at £1500. The total money to be shown is N25,506 (£14,000 - £2000 + £12,006 + £1500)

4. The fund must be held in your account for 28 consecutive days within 31 days of visa application.

What does this mean?
It means that you must hold this money in your account for 28 consecutive days BEFORE your application. THIS IS 28 DAYS BEFORE THE CLOSING BALANCE, AND CONSECUTIVE MEANS NO GAP!

If you intend to apply in August 15th and needed £30,000 as Proof of Funds and your opening balance as at 1st June 2022 is £28,000. If you deposited £3000 after 2 days, having now £31,000 as at 3rd June Whether you deposited more money or withdraw thereafter, your balance should not be below £30,000 at any time up to 30th of June when you intend to print the bank statement. From the day you printed your bank statement to the time you finally applied shouldn't exceed 31 days.

5. Please maintain the required funds in your bank account until you receive your visa, as this will ensure funds are available when embassy verifies it and if a re-submission of your application is required.

6. The money should be held
- Your name
- Your Parents name (you must prove the relationship)
- Your official sponsors

The only sponsors recognize by UKVI are; UK government; British Council; government agencies, international companies or organization regulated scholarships.

Sponsorship from siblings, uncles, friends and other relatives are not accepted

7. From the above, you can see that you needed to maintain your account beyond the 28 days period. Visa processing takes about 15 working days or longer after your appointment, SO WHAT HAPPENS IF THE EMBASSY MOVE TO VERIFY YOUR BANK STATEMENT DURING THIS PERIOD AND DISCOVERED THERE IS NO FUND OR LESSER FUND? - REJECTION!. A two (2) to three (3) months account maintenance guarantees success

Good luck in your visa application

What's the rate?

PaceHitech:
Access our Travel Assistance Loan for your Proof of Funds

Travel Assistance Loan is a financial assistance that helps you secure a proof of fund in form of bank statement for the purpose of visa application. If you want to study, travel, migrate abroad but doesn't have sufficient funds to meet with visa requirements, contact us.

√ No collateral
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√ Flexible interest
√ No monthly rate
√ Bank Statement
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Ideal for travel visa processing for all countries: Canada, UK, Australia, USA, Europe, Asia etc

Get in touch with us
PACE HITECH
Call/WhatsApp: 08175555872

PaceHitech:
Access our Travel Assistance Loan for your Proof of Funds

Travel Assistance Loan is a financial assistance that helps you secure a proof of fund in form of bank statement for the purpose of visa application. If you want to study, travel, migrate abroad but doesn't have sufficient funds to meet with visa requirements, contact us.

√ No collateral
√ Fast processing
√ Flexible interest
√ No monthly rate
√ Bank Statement
√ Guaranteed

Ideal for travel visa processing for all countries: Canada, UK, Australia, USA, Europe, Asia etc

Get in touch with us
PACE HITECH
Call/WhatsApp: 08175555872

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