INZ MANILA / ANZ FUNDS TRANSFER SCHEME April 2011

What is the Funds Transfer Scheme? The following ANZ bank Funds Transfer Scheme (FTS) arrangement will be available on trial basis for student visa applicants at INZ Manila who are required to demonstrate financial ability as per immigration instruction U3.20. The aim of this FTS arrangement is to help facilitate efficient and effective processing of student visa applications from genuine Filipino applicants who want to study in New Zealand. We believe the FTS arrangement will address current concerns that some students present show money in support of their application, but do not have access to funds for maintenance once they are in New Zealand. The benefits of this scheme are that it: allows students parents/sponsors to have control over the amount of money that the student has access to in New Zealand; is easier than the current alternatives to demonstrating sufficient funds for maintenance where a wider range of documentation is normally required; and makes it easier for immigration officers to determine whether an applicant has the funds required for tuition fees and living costs in New Zealand. Usually this is done by the student and/or the students family providing a range of documentation to show their financial ability, which the immigration officer then has to assess and verify. How does it work?

1. The student obtains a bank certificate as evidence of the total funds available for his/her
declared study plan. This certificate must confirm that all funds have been in the students bank account in the Philippines for at least 28 days at the time of lodgement.

If a direct family member such as a parent or sibling is the financial sponsor, the evidence of bank accounts and funds can be held in the sponsors name. A bank statement confirming an average balance of the required funds over a minimum one month period is also acceptable. A copy of the supporting bank account passbook(s) history would ideally also be supplied in these cases.

2. The student clearly states in their cover letter to INZ the intent to apply under this

arrangement. This is the cover letter that should also outline the reasons for the study pathway declared and source of funds provided.

3. INZ assesses the application. 4. If satisfied, INZ approves the application in principle.

5. The student then:

a) pays the course fees directly to the school, and b) applies online for a bank account with ANZ.

6. The student transfers his/her maintenance funds into the ANZ bank account. 7. ANZ provides a Proof of Funds Certificate to the student, and forwards a copy directly to INZ
Manila. 8. INZ finalises the application.

9. The student arrives in NZ and arranges to meet ANZ. 10. A stipulated amount is transferred monthly into the normal cheque account of the student (e.g.
if the student is in New Zealand for 12 months, then one twelfth of the required 10,000NZ$).

FUNDS TRANSFER SCHEME - PROCESS MAP

1. Applicants assess their financial documents and savings to determine eligibility under the FTS.

2. Submit student application with complete documentation, stating clearly in the cover letter the intent to apply under the FTS.

3. INZ assesses the applicants logical study pathway, and financial documents.

5. Student is advised to pay course fees, and contact ANZ to open an account and remit the maintenance funds to NZ.

4a. INZ accepts applicant has a logical student pathway, and their financial documents merit eligibility under the FTS. If all other immigration requirements are met, the application is approved in principle.

6. INZ receives confirmation and evidence of course fees paid directly from the NZ school, and direct confirmation from ANZ that the FTS account has been opened and required funds transferred for the student.

4b. INZ determines student is not eligible for the FTS and/or no logical pathway has been satisfactorily established and/or other immigration requirements not met. Standard processing continues.

If concerns are subsequently satisfactorily addressed, proceed to step 4a.

7. INZ Manila approves the application, and issues the student visa.

8. Student arrives in NZ, and visits the nearest ANZ bank to activate bank account.

If concerns are not satisfactorily addressed, application will be declined.

How do I set up my ANZ FTS bank account if Im approved under this scheme? When a student visa application is approved in principle, the immigration officer will notify the applicant of all the necessary contact details. Students follow this link and use the Enquire Online form to open an account. The link is http://www.anz.co.nz/personal/accounts/moving-new-zealand/new-resident-services/ This is the most efficient, convenient and fast way of opening an account with ANZ. It should take 3-5 days to process the information to open the account. Please do not contact ANZ bank branches in the Philippines in order to open your FTS bank account. This is an exclusive arrangement with ANZ banks in NZ only. Use the online form to open your account. How much can I withdraw from my ANZ FTS account each month in NZ? This depends on the length of course. For courses under 36 weeks, you are required to deposit up to 9,000NZ$ for this period as per instruction U3.20.1. The maximum you can withdraw each month will therefore be 1000NZ$.

For courses lasting longer than 36 weeks, as per instruction U3.20.5, you need to deposit a minimum of 10,000NZ$ and will be issued a one year student visa. So you will be allowed to withdraw a maximum 834NZ$ per month. For either situation, if you deposit more into your FTS account, you can arrange to withdraw more each month. You will also be given a separate everyday bank account for regular use into which the maintenance money held in your FTS account will be transferred regularly. You can use this account to transfer further funds from the Philippines into, or any income if you undertake paid part time work. Can I withdraw money from my ANZ FTS account for use in an emergency? No. You can not withdraw money from this account for any other purpose. Students will have only limited access to the holding account. ANZ bank will notify INZ if a student requests to withdraw money directly from their holding account. While student visas allow students to undertake part time work in NZ; this work may not be readily available, so the FTS will ensure that students have sufficient funds to meet their living expenses. How can I arrange to withdraw my account balance if I decide to leave NZ without closing my remittance account, or now that Ive passed my course? You can withdraw the balance from your remittance account if you have successfully completed your course. Students are required to present evidence from the school that the course has been successfully completed in order to close or withdraw remaining money. If a student has withdrawn from their course, and/or plans to depart NZ and close their account, they need to provide written notification from INZ to ANZ that their student visa has been cancelled.

ARE THERE ANY EXCEPTIONS? The ANZ FTS arrangement and financial profile/requirements will be strictly adhered to. Students should make very sure that the total funds required for their course fees and maintenance in NZ have ALL been held appropriately at the time of lodgement for a minimum period of 28 days, or that the average monthly balance is appropriate. Students who do not meet the required minimum saving history outlined above will be subject to current processing scrutiny and meeting policy requirements, so will need to show that their funds have been genuinely sourced and are stable. This FTS arrangement is not an instruction requirement. However, students who apply under this arrangement will satisfy the financial requirements more easily and their applications may therefore be processed with greater efficiency. It is important to note this is a trial to gauge the effectiveness and success of the FTS arrangement for the Philippine market and its students. Absolute discretion remains as always with INZ, and INZ Manila reserves the right to request any further documentation deemed necessary to decide the application, or to withdraw the offer of this FTS arrangement entirely.

INZ Manila April 2011 To lodge a student visa application to New Zealand at INZ Manila, please call 02 845-9222, or visit our website. www.immigration.govt.nz/branch/manila