Minimum Bank Balance for Schengen Visa

Means of Subsistence for Schengen Visa

A part of the Schengen visa requirements is evidence you have sufficient means (minimum bank balance) to support your visit to the Schengen area. Depending on the Schengen country, the required amount may change from €14 to €100 per day.

Why is Minimum Bank Balance Important for a Schengen Visa Application?

Proving you have enough money for your stay in the Schengen area is very important when applying for a Schengen visa. This is essential as it indicates your ability to financially support yourself throughout your time in the EU and the Schengen Area, covering expenses such as accommodation, food, travel, and more.

How Can I Demonstrate Sufficient Funds for a Schengen Visa?

There are several ways to prove your financial sufficiency for a Schengen visa application:

• A personal bank statement indicating your financial movements.

• Credit cards, cash, traveller’s cheques, or payslips.

• Proof of employment.

• Proof of financial sponsorship from someone else.

• Proof of prepaid accommodation.

• Other documents as applicable.

Do I need to prove my income or employment status?

Yes, proof of income is often required. Acceptable documents include pay slips, an employer’s letter, or tax returns that demonstrate a stable income.

Can I use my parents' or a sponsor's bank statement?

Yes, you can, but you must provide a letter of sponsorship along with the sponsor’s financial documents. Ensure that these documents meet the visa requirements.

Should I show extra money beyond the minimum requirement?

Demonstrating additional funds, within reason, strengthens your application and showcases greater financial stability.

How do I handle joint bank accounts?

If the bank account is joint, provide a letter from the joint account holder explaining the purpose of your trip and their consent to use the funds.

What if my financial situation recently changed?

If there have been recent changes, include an explanation in a cover letter. Transparency is crucial to avoid any confusion.