Financial evidence in the name of XXXXX showing you have ready access to sufficient resources to support the application

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FidoSysop
Posts: 7
Joined: Mon Jun 07, 2021 6:30 am

Financial evidence in the name of XXXXX showing you have ready access to sufficient resources to support the application

Post by FidoSysop »

Hello Guys did anyone come across of that kind of enquiry from TC.
Financial evidence in the name of XXXXXX showing you have ready access to sufficient resources to support the application. The type and size of licence applied for requires a sum of £17,000 to have been available during a 28 day period, the last date of which must not be more than 2 months from the date of receipt of the application.
The financial requirement for the type and size of licence applied for requires a sum of £XXXX to have been available during a 28 day period, the last date of which must not be more than 2 months from the date of receipt of the application.
The bank statements submitted show that the applicant only met the finance requirement due to 2 large deposit.
Please explain the nature of the deposits of £7,500 & £2,000 on xx/05/2021 & xx/06/2021 . If this is a loan, please provide a copy of the terms and conditions of the loan.
edd_jedi
Posts: 5
Joined: Sat Jun 05, 2021 2:49 pm

Re: Financial evidence in the name of XXXXX showing you have ready access to sufficient resources to support the applica

Post by edd_jedi »

Want to know it’s your money and not just put in for show. If it’s still in your bank you have no problem
FidoSysop
Posts: 7
Joined: Mon Jun 07, 2021 6:30 am

Re: Financial evidence in the name of XXXXX showing you have ready access to sufficient resources to support the applica

Post by FidoSysop »

edd_jedi wrote: Sat Sep 11, 2021 2:54 pm Want to know it’s your money and not just put in for show. If it’s still in your bank you have no problem
It was transfered from another bussiness account to the new bussiness it wasnt been a loan from bussiness to bussiness
edd_jedi
Posts: 5
Joined: Sat Jun 05, 2021 2:49 pm

Re: Financial evidence in the name of XXXXX showing you have ready access to sufficient resources to support the applica

Post by edd_jedi »

That’s your reply. Nothing to worry about.
stah
Posts: 12
Joined: Fri Aug 27, 2021 3:57 pm

Re: Financial evidence in the name of XXXXX showing you have ready access to sufficient resources to support the applica

Post by stah »

Its a standard question. I had that on my application.
reefcrazed
Posts: 15
Joined: Tue Jun 01, 2021 12:37 pm

Re: Financial evidence in the name of XXXXX showing you have ready access to sufficient resources to support the applica

Post by reefcrazed »

Financial standing tends to get abused. Rule seems to work in favour of large operators with creative accountants. First Tv's know his when receivers contact them.
Rather see some profitable trading personally, without it the end is nigh.
RMcGirr83
Posts: 44
Joined: Mon May 31, 2021 12:57 pm

Re: Financial evidence in the name of XXXXX showing you have ready access to sufficient resources to support the applica

Post by RMcGirr83 »

In the past money has been moved around and TC is not daft, if you want to get an O Licence and need £35k to do so I lend you the £35k then when I want to apply you give it back so that I can show £35k in my account
You need to be able to show where the funds have come from. The TC can at any time ask you to prove that you are still financially compliant and ETM's are encouraged to report cases where the firm is not financially compliant.
So if operator says to ETM I can't pay your bill this month can you wait a bit he obviously does not have the thousands of £ that he needs to run the business
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