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10 March 2012

Maintenance Funds for YMS

One of the major requirements for the UK Youth Mobility Visa is proving your maintenance funds. It was actually the part that caused the most trouble for me in an otherwise easy process. So, this is my take on getting this done right the first time!

First of all, you are required to have £1600 (approximately $2500) in your bank account one month before leaving. I’ve bolded that bit because most of the internet misinformed me that my funds had to be 3-months old, but I believe that was the case before they updated the Youth Mobility Scheme, and I ended up getting caught in the transition.

In order to prove that you’ve had the funds in your account this entire time, you’ll have to print off bank statements for the past 31 days. They also accept passbooks, but I’m under the impression that most people under 45 don’t have passbooks from their bank. So, head to Kinko’s, spend $3 or so printing off your bank statements, and away you go -

- to your local bank. You’ll need a letter from a teller confirming that your maintenance funds have been in your account for the past month. I had to pay $15 for mine from TD Canada Trust, but I’m not sure you’ll have to do the same with other banks.

Having the bank’s letterhead might not be enough so you should get a stamp as well. However, the teller that wrote the letter got uppity and told me it wasn’t allowed. If this happens to you – this is not true. I collected my un-stamped letter and took it to another branch, where another teller was more than happy to oblige.

Before you send the letter off, do one final check. Does it include:

-  The date it was written?
- The date the funds appeared your account?- Your full name and account number?
- Banks name and logo, written on company letterhead?
- Confirmation that funds of £1600 (and its CAD equivalent) have been present for 30 days? 

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