What is the name of the document?
Secondary Bank Statement
Verification Letter
When will the student be required to upload the document?
The student will be required to upload this document if the Due Diligence feature is turned on and the student meets the criteria. Further information about the Due Diligence feature can be found in a separate article here.
If enabled, the student will be required to provide these documents when using a Term Deposit to fund their studies. This allows you to track the source of funds of the account holder in order. The additional documents are:
1. Verification Letter from the Bank
Students are asked to provide a letter from the bank (that provides the term deposit account). The letter should include the following:
- Verification of the full name and account number on the term deposit
- How long the named person on the account has been a customer of the bank
2. Secondary Bank Statement Scan
Students are asked to provide a bank statement that demonstrates they have access to additional funds beyond the term deposit funds. The statement should:
- Be dated less than 30 days ago
- Show the student’s name or the name of a parent / legal guardian
Note: the due diligence feature also includes additional documents related to the sponsor and their income. These can be requested in conjunction with these two additional documents - check out our article here.