Unqualified financial institutions for Tier 4

The initial list of financial institutions which do not meet UK Border Agency (UKBA) standards has been published, for use with applications made under Tier 4 of the points based system.

The new list is made up of over 2000 financial institutions which do not verify student’s financial declarations to the UKBA’s satisfaction and will allow the UKBA to verify that they hold sufficient funds to support themselves during their time in the UK.

You can download the latest version of the list from the UKBA website - List of financial institutions, and criteria for inclusion on the list.

The UKBA will use this list when verifying any declarations of maintenance funds made under Tier 4 of the points based system. With immediate effect, a Tier 4 applicant will receive no points for maintenance if they submit supporting documents showing that their funds are held in one of the financial institutions on the list.

The UKBA will give a 30-day notice period from the date when a financial institution is first listed before this new rule takes effect. This will enable applicants to make the necessary financial arrangements, so that they can provide financial documentation which meets the new requirements.

The list will remain under review so institutions may be added or removed in the future as appropriate. Any financial information submitted from institutions not on the list will be reviewed on a case-by-case basis. Applications may still be refused as a result of these checks, even though the institution is not on the list.

The UKBA brought the latest set of changes to Tier 4 on 4 July 2011, and announced a commitment to produce this list at the time. You can see a summary of the other changes in our earlier post, More changes to student visas announced.

Maintenance requirement for students

Anyone applying to come to the UK under Tier 4 is expected to be able to provide evidence of their financial situation before being given a visa. The UKBA require that you have enough money to pay for your course fees and living costs. You can find more information about this requirement on the Adult students - Tier 4 (General) page of the UKBA website.


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