Last updated: 19 December 2023
If you are applying from overseas, or if you are applying in the UK but have not been here with permission for 12 months or more, you must show that you have sufficient funds to cover:
If you are from an exempt country, you do not need to submit any evidence of funds with your visa application, but you should prepare the evidence nonetheless, since UK Visas and Immigration (UKVI) may ask to see it.
Your course fees will be listed on your CAS statement. Any fees already paid to the university will be reduced from the total amount you are required to show for fees. However, the university must report this amount to UKVI before you use your CAS. For this reason, it is important that, where possible, you pay the total amount you intend to pay in one payment, and that you inform the university if the amount listed on your CAS statement is incorrect before you submit your visa application. The university is unable to update UKVI with any extra fees paid after your application has been submitted.
You will also be required to show evidence of your living costs at a rate of £1023 per month of your course, up to a maximum of 9 months. If your course lasts nine months or more, you therefore need to show a total of £9207 for living costs. If the length of your course includes part of a month, the number of months’ living costs must be rounded up. If you have pre-paid for halls of residence accommodation (not private accommodation), you are permitted to deduct a maximum of £1265 from your living costs.
Evidence of required funds must be provided in one of the following formats:
Whichever format you choose, please note all documentation must be in English. If any documents are not available in English, you must provide fully certified translations.
If your funds are not held in British Pound Sterling (GBP), you should use the currency exchange rates on the OANDA website to check that you have the required amount.
Funds may be held in any form of personal bank or building society account (including current, deposit, savings, pension from which the funds can be withdrawn, or investment) provided the account allows the funds to be accessed immediately. Funds held in other accounts or financial instruments such as shares, bonds, credit cards, pensions from which the funds cannot be withdrawn immediately, regardless of notice period, will not be accepted.
You will need to provide a statement showing funds have been held for a consecutive 28 day period ending no more than 31 days before the date of your visa application. The statement must show:
It is best to submit an official statement that the bank has sent to your home address, though an ad hoc statement, printed in the branch on letter-headed paper is usually acceptable.
Alternatively, you can provide a download of an electronic bank statement, so long as it shows all the information detailed above (this does not need to be stamped by the bank, though please note that UKVI may wish to run a verification check direct with the bank).
Due to the time it takes to receive an official statement, you may prefer to submit an official letter written by your bank, confirming you have held the required funds for the required period of time. Unfortunately, not all banks are willing to write this sort of letter, but some are – please check with your local branch to confirm. Some suggested phraseology for an official bank letter is as follows:
This is to confirm that account number____, sort-code____, in the name of____, has held funds in excess of____ for a consecutive 28 day period ending today.
Please note that a Certificate of Deposit can be accepted by UKVI provided it meets both the following requirements:
Be advised that where an account is in a parent or legal guardian’s name, there is a requirement to submit two additional documents:
If you are relying on a loan to fund your studies, you must provide a student loan letter which:
Please note: loans held in a parent or legal guardian’s name are not acceptable. The loan must be in your name.
UKVI define official financial sponsorship as money given to a student to cover some or all of their course fees and/or living costs, by one of the following organisations:
If you are in receipt of sponsorship from one of these organisations, you need to provide a letter from your sponsor in support of your visa application. The letter must be on official letter-headed paper and must have the official stamp of the sponsoring organisation on it. The letter must show:
Please note that:
If you are eligible and intend to bring dependants with you to the UK, additional funds are required to cover their living costs.
The funds can be held by the dependant(s) or by you. If the dependant is your child, the funds can be held by the child’s other parent, but only if the other parent will come to the UK too.
If funds are being held in a bank, they must have been retained for a consecutive 28 day period, as for the main applicant.
Dependants are required to show living costs at a rate of £680 for each month of immigration permission the main applicant will be granted (if they are applying at the same time as you) or has been granted (if they are applying after you have received your visa). This is up to a maximum of 9 months, ie £6120.
Insufficient financial evidence is the most common reason for refusal. The most common mistakes made when evidencing finances include:
If you fail to provide financial evidence that meets UKVI criteria, your visa application will be refused and you will need to pay again if you wish to re-apply.
In the event your application is refused, you will be required to provide the university with your refusal notice and evidence that you have the funds in place before you can be issued with a new CAS statement.
Visa refusals count against the university and can seriously jeopardise our Student Route sponsor licence. For this reason, we must keep our refusal rate as low as possible. If we have any reason to suspect that you will be refused a visa, we will not issue you with a further CAS statement.