Q. What is the 28-day rule in a UK student visa?

The 28-day rule is a financial requirement that states that money used for maintenance, course fees, and living costs must be held in an account for 28 days of a consecutive period. This period should end on the date of the closing balance. During these 28 days, the funds should stay within the required amount even for a single day. The closing balance shows the funds available at the end of the 28 days and can be up to 31 days old on the date of your visa application.

Types of Financial Institutions Accepted

The funds can be harbored in an individual bank or building society accounts, such as current accounts, deposit accounts, savings accounts, pension accounts, or investment accounts, to comply with the 28-day rule. However, the account must allow immediate access to the funds. Any other accounts or financial instruments that do not allow immediate withdrawal will not be accepted as evidence of funds.

The financial institution holding the funds must meet specific criteria set by the UK Student Visas and Immigration Office. The institution should use electronic record-keeping, be regulated by the appropriate regulatory body, and allow satisfactory verification checks. 

Bank and Financial Statements

When providing financial evidence, bank or building society statements are commonly accepted by the Home Office. These statements should cover 28 days, ending at most 31 days before the date of your visa application. They should be on official stationery or in electronic format, printed or electronic (not handwritten), and include essential details such as the account holder(s)' names, account number, and the date of the statement.

While statements generally show transactions and the amount held over time, a letter from the financial institution can also be accepted. This letter should confirm the balance and the time the funds have been held rather than providing a record of transactions.