WIREDGOV

In June 2011, we announced that we would be publishing a list of financial institutions which we consider, on the basis of experience, do not verify financial statements to our satisfaction. yesterday we published an initial list of financial institutions that fall under this category.

We will use the list when verifying maintenance funds under Tier 4 of the points-based system. An applicant will receive no points for maintenance if they submit documents showing that the funds are held in a financial institution on the list.

The list forms part of the reforms to the student immigration route. The change is to ensure that we can verify that student visa applicants hold the required maintenance funds to support themselves and pay for their course in the UK.

We will give a 30-day notice period from the date when a financial institution is first listed before the 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 be kept under review, and we will make additions or deletions as appropriate.

We will continue to verify financial information from financial institutions not on the list, on a case-by-case basis. We may refuse applications on the basis of these individual checks.

You can find the list, and details of the criteria we use to assess financial institutions, by following the link on the right side of this page.