The UK has introduced stricter guidance for international students, including Kenyans, who may need to explain large deposits or unexplained funds in their bank accounts when applying for a student visa.
According to the UK government, on September 11, applicants must provide a cover letter explaining the source of funds when their accounts show large deposits or unexplained amounts.
“Applying for a student visa? You may need to provide a cover letter explaining your situation if there are large deposits or unexplained funds in your bank account,” read part of the statement.
The Student visa for the main applicant and dependants costs $785, equivalent to approximately Ksh101,650.
Students can prove they have sufficient funds using a government or regulated student loan, official financial sponsorship, their own money, or funds held by a parent or partner who meets the eligibility requirements.
However, applicants cannot rely on overdrafts, cryptocurrency, stocks and shares, pensions or money held in bank accounts that are not regulated by the relevant financial authority or do not use electronic record-keeping.
UK Student Visa Rules Every Kenyan Should Know
For applicants using their own, their parents’ or their partner’s money, the funds must be held in an account that allows immediate access and must have remained at the required level for 28 consecutive days.
The 28-day period is calculated backward from the closing balance shown on the most recent financial evidence submitted with the visa application.
Applicants can provide bank statements, building society passbooks, certificates of deposit or letters from their bank or building society as proof of funds.
The financial evidence must be dated no more than 31 days before the visa application and must show the applicant’s name, the name of the bank or building society and the amount of money held in the account.
Where funds are held in a foreign currency, the UK government will convert the amount into British pounds using the spot exchange rate on OANDA on the date of the visa application.
Also Read: Kenyans to Pay Ksh26K Additional Fee for Premium UK Visa Services
The UK government also warned that it may verify financial documents directly with the applicant’s bank. Applications could be refused if the evidence cannot be verified.
Students relying on official financial sponsorship must provide the reference number recorded on their Confirmation of Acceptance for Studies (CAS).
If the sponsorship is not recorded on the CAS, applicants must provide a letter from the sponsor showing the date, the sponsor’s name and contact details, the duration of sponsorship, and the amount provided, or confirmation that all tuition and living costs will be covered.
For student loans, applicants must provide a loan letter dated no more than six months before the visa application.
The letter must confirm the loan amount, that it is intended for the applicant’s studies, that there are no conditions on its release apart from successful admission, and that the funds will be available before the course begins.
Also Read: Thousands of Kenyans Face Uncertainty as Trump Halts Immigrant Visa Processing
How Much Money You Need to Have in Your Bank Account
Before getting a visa, you must show that you have enough money to pay your course fees, as stated on your Confirmation of Acceptance for Studies (CAS).
Your education provider will issue the CAS after offering you a place on the course.
For living costs, students studying outside London need Ksh190,000 (£1,171) per month, for up to nine months.
Those studying in London need Ksh248,000 (£1,529) per month, also for up to nine months.
For each dependant accompanying you, you need an additional Ksh110,500 (£680) per month if studying outside London, or Ksh137,300 (£845) per month if studying in London, for up to nine months.
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