All About FTS.

Explain the FTS and what the conditions are when you don't need to transfer funds?

Ans: FTS stands for the Funds Transfer Scheme. This was a scheme that the Immigration Department of New Zealand introduced in association with ANZ Bank in New Zealand. I think the reason for introducing the FTS's scheme was that students are supposed to show $15,000 as living expenses, when they come to New Zealand. So, earlier what they would do was they would show the funds then come to New Zealand but they would actually not get that was $15,000 funds with it after they got the visa so they would come to New Zealand expecting to find a part-time job and start running from day one. So, I don't have to have funds but a lot of them got into trouble because of that because it did not find jobs and they did not carry money with them and they got into all kinds of trouble stress emotional distress the government realized it and said now we go to force these guys to carry that living expenses with them so they created this FTS scheme where funds have to be transferred to New Zealand before you're student visa is stamp not only to those funds have to be transferred to New Zealand you can't withdraw those funds from the FTS account it is kind it's called their rapidity you so you get you can take out a portion of that money only every month so that there's enough money for you to have because the other problem that some of the students got in to us even if they transfer the money to New Zealand they would withdraw you know 10 thousand to buy a car or to go on a fancy holiday or you know do some you know silly stuff and then suddenly they're without money so the FTS I think is a good scheme it has introduced to basically protect international students great scheme I like it when you don't need to transfer funds I think that is at the sole discretion of the assessing visa officer. Visa officer might look at the profile of the family and everything else they say yeah looks like this boy comes from a good responsible background and they have funds so that's when they will do that and if somewhere the visa officer is not 100% confident then they might force you to do a FTS then that's for your protection it's not something New Zealand is doing to earn money no please not I think that New Zealand is so mostly Keenly trying to get money off you. No, it's your money that you will use for your upkeep when you're an international student so this policy is basically to protect you and so that's the way the FTS works.

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