That is the problem in itself. You were studying Engineering right? Now you applied to an Arts college. So your previous studies does not align with your planned studies. You should apply to a university for Engineering right from the start, not applying to an unrelated college and then transfer.
Secondly, is the bank account yours? If it is not your bank account, that would be the reason for the financial refusal. Also, did you pay first year tuition in full? If you didn't, I recommend you do that.
Lastly, the fact that you are applying from a country other than your home country is a reason for refusal in itself. This shows that you have little ties to your home country and that you would hop from one country to another without ever returning to your home country.
So I recommend returning to your home country first, then applying from there.