OANDA exchange rate

entrepreneur123 · Post by **entrepreneur123** » Tue Oct 07, 2014 3:01 pm

hi,
could someone guide me how to attach oanda website site exchange rate with application for funds held overseas? For maintenance funds held for three months in foreign currency account, do i need to print exchange rate for the bank statement end date or application submission date? thanks

attahaas · Post by **attahaas** » Tue Oct 07, 2014 4:55 pm

The UK Visa office can access the OANDA website like anyone else. So, the applicant need not do submit the exchange rate. You simply provide the bank statement/bank letter in the native currency with the application. The visa office will calculate the exchange rate based on OANDA rate on the day they access/process your application.

For a safe bet, always keep 3-5% extra funds in your account to count in the forex fluctuation.

MTZ510 · Post by **MTZ510** » Tue Oct 07, 2014 6:23 pm

Whether you sent the print or not, your date of application is the date which is relevant.

entrepreneur123 wrote:hi,
could someone guide me how to attach oanda website site exchange rate with application for funds held overseas? For maintenance funds held for three months in foreign currency account, do i need to print exchange rate for the bank statement end date or application submission date? thanks

attahaas · Post by **attahaas** » Wed Oct 08, 2014 2:42 am

I second what MTZ510 said above. I thought it was the date they accessed/processed your application which seems to be incorrect. It is the date of application that matters as per the Tier 1 (Entrepreneur) Policy Guidance. The references from the guidance are given below.

Page 20 of 59
106. A letter from a financial institution holding the funds, to confirm the amount of money
available to you, your business (or your team if you have formed an entrepreneurial team). The total amount of available money must be either at least £200,000; or at least £50,000 as applicable. If the money is held in several financial institutions, you must supply a recent letter from each institution. If the money is not held in pounds sterling, we will use the rate of conversion on the Oanda website at http://www.oanda.com to convert the money into pounds sterling, using the exchange rate that applies on the date of the application.

Page 39 of 59
183. The conversion of overseas currency will be made using the OANDA exchange rate on the date of application on http://www.oanda.com.

Page 43 of 59
A2. The exchange rate used for overseas currency will be a rate conversion made using the exchange rate shown on the OANDA website on http://www.oanda.com on the date the application was made. This is an independent website, for which we are not responsible.

entrepreneur123 · Post by **entrepreneur123** » Sat Oct 11, 2014 11:07 am

Thanks so it will be date when fee was paid online rather than date of actually submitting documents.

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OANDA exchange rate

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