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Acceptable Bank Statement for UK Student Visa

If you are planning to come to the UK to study, you will need to prove you have enough money to support yourself while staying in the UK as part of your Student visa.

Immigration Advice Service (IAS) are immigration experts who can handle your Student visa application and help you collect the correct financial evidence for your application. Call us today on +44 (0)333 414 9244 or message us online.

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Overview of Financial Evidence for Student Visa

If you are an international Nigerian student applying for a UK Student visa from Nigeria, you will need to provide financial evidence as part of your visa application to show you meet the financial requirements.

This includes eligible bank statements to demonstrate that you have the requisite funds to support yourself in the UK. These bank statements must conform to Home Office guidelines and include specific information to be valid.

If you have been in the UK with permission for longer than a 12-month period, then you do not need to show your funds as part of your Student visa application.

This evidence is to show that you can support yourself while you are in the UK, and you have enough money to pay for your tuition fees and living costs. The amount of money you will need will vary depending on where you are applying for university and if you have any dependents, and only certain types of evidence are accepted.

Acceptable Financial Evidence

You can show you have the required amount of money using:

  • An official financial sponsor or government sponsorship
  • A government sponsored student loan or a student loan from a government sponsored student loan company
  • Your own or your parents’ money
  • Your partner’s money if they are applying too or are in the UK

Official Financial Sponsor

When you are accepted onto your course, you will receive a Confirmation of Acceptance for Studies (CAS). If you have an official financial sponsor that is recorded on your CAS, you can include the unique CAS reference number as evidence for your sponsorship with your visa application.

If the official financial sponsor is not included on your CAS, you will need to show a confirmation letter from the sponsor, including the date, name and contact details of the sponsor, duration of the sponsorship, and amount of money or confirmation that your fees and living costs are covered.

Student Loan

For a student loan, you will have to submit a letter from your loan company that:

  • Is within 6 months of your visa application
  • Confirms it is a student loan from the government, a government sponsored student loan company, or an academic or education loan scheme
  • Confirms there are no conditions beyond successful application on your course and that it will be released to you before your course starts
  • Confirms the amount of the loan and that it is for you
  • Is on official stationery

Personal Money

If you are paying for yourself, the funds must have been acquired legally and can be held in a current account, deposit account, savings account, pension savings, or investment account, and it must be immediately accessible.

You must provide a bank statement, building society passbooks, certifications of deposit, or a letter from your bank or building society displaying the date, account holder’s name, bank or building society name, and balance on the account.

This bank account can be a joint account, as long as you are named on the account.

Electronic statements are accepted and foreign currency will be converted to UK pound sterling on the day of your student visa application.

Parents’ Money

If you are relying on your parents’ account, you must also submit the following documents:

  • A letter from your parents confirming you have consent to use their money to study in the UK
  • Your birth certificate showing your and your parents’ names; translated if not in English
  • Your parents’ financial evidence

If you have one parent, or only one is funding your studies, then you can include evidence for the one supporting you.

Partner’s Money

If your partner is funding your studies but is not applying at the same time as you or currently does not have permission to be in the UK, they will have to transfer the money into your bank account or use a joint account that has your name on it, as their bank statements are not accepted.

If they send the money into your account or a joint account, the money will have to stay in your account for a consecutive 28 days, as outlined below, and it is best to submit a certificate of deposit from your bank showing:

  • That the certificate of deposit is no older than 31 days before you submit your visa application
  • That the money has been in your account for 28 days
  • Your and your partner’s name
  • The account number
  • The financial institutions name and logo
  • The amount of money available

The same applies if you are being financially supported by another family member.

Person examining document

Control of Funds

You, or your parents or partner, must control the funds and they must have been held in the account for a consecutive 28 day period leading up to submitting your student visa application.

The Home Office calculates this 28 day period by counting back from the date of the closing balance on the most recent evidence, and the date of the closing balance cannot be older than 31 days before your application.

During these 28 days, your money cannot drop below the amount needed for fees and living costs at all.

Requirements for Acceptable Bank Statements

If you need to provide a bank statement with your application, it must follow certain requirements,

Firstly, the statement must be from an account belonging to you or your legal parent(s) or guardian(s). If you use a statement from a joint account, the account must have either you or your legal parent(s) or guardian(s) as named holders.

Other specific requirements for the bank statement are as follows. It must:

  • Be on official stationary or an electronic record
  • Be printed or electronic
  • Include the account number
  • Include information about the bank, such as the name, logo and contact details
  • Include the amount of money available
  • Include the date
  • Include the currency

If you choose to supply a bank statement from your legal parent(s) or guardian(s), you must also provide proof that you are related to them by also providing a birth certificate, adoption certificate or official document demonstrating custody.

You must also provide a letter written by them demonstrating that they have given you permission to use their money for your study period. It must confirm your familial relationship with them, and explicitly express consent that you are able to use their money.

If the bank statement you supply is not from the UK, you will have to use the OANDA online currency converter tool to convert balances into British pounds sterling (GBP).

Not Accepted Financial Evidence

UK immigration authorities will not accept certain evidence, including:

  • Overdrafts
  • Credit cards
  • Bitcoin savings
  • Stocks and shares
  • Pensions which cannot be withdrawn immediately
  • Unregulated bank accounts
  • Bank accounts that don’t use electronic record keeping

Funds will also not be accepted if the UK immigration authorities cannot verify your evidence, if your documents are not satisfactorily translated into English or do not meet the UK visa requirements for translations.

Get in touch with our experts for guidance on UK visa applications from Nigeria.

How Much Money Do I Need to Show?

Your CAS will outline your course fees, course length, your living arrangements, among other things.

For your Student visa application, you will need to show that you have enough money for the 1st academic year of your tuition fees and living costs, which vary depending on the course location. Any money already paid towards your course can be deducted from the final amount you need to show.

The amount of money you need to cover your living costs is fixed, regardless if you are staying with family or have already paid for your accommodation.

Living Costs Inside London

A student living independently while studying a course in London will need to show they have £1,334 per month for up to 9 months.

For example, if your course is 10 months long: £1,334 x 9 = £12,006.

However, if your course is only 5 months long: £1,334 x 5 = £6,670.

Living Costs Outside London

Living costs are typically lower if you are living outside London and the amount required reflects this. If you are studying outside of London, you need to show you have £1,023 per month for up to 9 months.

So, if your course is 12 months long: £1,023 x 9 = £9,207.

But if your course is 8 months long: £1,023 x 8 = £8,184.

Tuition Fees

Course fees vary between courses and levels of study, and the British Council reports that average international undergraduate fees are estimated to be around £22,000 per year and postgraduate fees are around £17,000 per year.

The tuition fees for your course will be outlined in your CAS. Usually, you will need to pay a deposit of £4,000 towards your course before you are issued a CAS; any money you have paid will be deducted from the total amount you need to show.

For information on UK visa application processes, speak with us today.

How Can IAS Help?

Applying to study in the UK can be a complicated process and it can be challenging to collect all the documents required to submit with your application alongside applying for your course. Instructing an immigration lawyer can make the process much easier and ensure you have submitted everything to support a successful student visa application.

IAS can provide one-to-one advice, or even complete your visa application on your behalf. Call us today on +44 (0) 3316300929 and +23413438882, or contact us online.

We offer immigration advice sessions as face to face appointments at our Lagos office, all of our UK offices, or via the phone.

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For each dependent, you must also show you have £680 per month for up to 9 months evidenced by bank statements or a letter from a financial sponsor.

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