How to get an Ideal Bank Statement for Visa | NaijaGoingAbroad (2023)

Getting an ideal bank statement for visa requires that you understand what the embassy is looking for when reviewing the submitted bank statement. When applying for a visa, a bank statement is one of the required documents to be provided. A bank statement is a record that shows the financial transactions that occurred within a set period. This includes inflows and outflows.

Travelers are often required to present a bank statement, as this is proof that the visa applicant can sustain him/herself when they are abroad. Sometimes, having a fat bank account does not guarantee a visa approved. It is vital that visa applicants understand what and how to run a bank account for visa application.

If you are planning to travel abroad either through tourist visa, student visa, and business visa, it is essential you provide proof of funds otherwise known as means of subsistence. To get prepared ahead of time, in this article, we have outlined the importance of bank statement for visa application.

How do embassies verify a statement of account

This is a very common question and as many people are curious to know the bank statement verification process by the embassies. So, let us quickly discuss it here before going further in this article. When embassy is processing a visa application and they need to verify statement of account submitted by the applicant, according to an anonymous banker, who handles embassy communication with the bank, says the embassy will simply scan the submitted statement of account, attach it to an email which could read “kindly confirm the transactions on the attached statement of account for Mr/Mrs. ABC BCD whose date of birth is dd/mm/yy and reside at No XXXXXXX”. Now you know how it’s done.

(Video) Building A Bank Statement For Visa Application

Here are the features of a good bank statement for visa application

Having a large sum of money in your account is a testament that you can foot your expenses when you arrive in that foreign country. However, if you do not provide concrete evidence on the source of income, the embassy might not get your visa approved. In some circumstances, a relatively lesser bank statement can get one’s visa application granted. This clearly shows that a bank statement has no fixed or exact amount for a visa application.

Essentially, when providing a bank statement, it should be based on the purpose of your visit. For instance, the bank statement of a visa applicant for a study visa is expected to be higher than that of a visa applicant on a tourist mission. The importance of bank statements for visa application is to ensure that you have the financial capacity when you visit abroad for any reason and with some tips on how to go about it, your bank statement won’t raise any concern for the embassy.

Present a bank account with a steady flow of income

A bank statement with a steady flow of income stands a better chance for the embassy to grant the visa. A constant flow of income shows that the account is active. Visa applicants who wish to travel abroad are advised to have an account that has a stable source(s) of income. A salary account or a corporate account gives the embassy the credence that you have something viable you are doing and not having the intention of traveling to live illegally when you travel out.

Although, it is required that visa applicants provide a current bank statement of at least 6 months. Even so, you should make sure that the account has a regular cash flow. This is one of the criteria’s visa officers check when going through a bank statement.

(Video) Bank Statement for Visa Success | How to Manage Bank Account Statement properly

Run your account effectively

Providing a bank statement for visa application requires you to run the account effectively. A bank statement is a summary of your financial transactions. When you are building up your account for the purpose of traveling, you should make sure it is done without conflicting things for yourself. The importance of a bank statement for visa application is to convince the embassy that you are financially strong to travel abroad. Having an amount in your account that does not correlate well might get you into trouble. The source of your income can either grant or deny you a visa.

Remember, it is not just a bank statement you are providing, there are other valid documents to provide. It is important you say exactly what you are into and also, if there are other sources of income, do list them. This will justify when the embassy sees money deposited into your account that is above your salary figure as shown in your bank statement. On the other hand, if you are into business, make sure you run your business with a registered name and open a corporate account for it. The embassy understands that there is no fixed amount a business must record in a day. But, if a whopping amount is logged-in far above the usual amount, it might be an issue for the embassy not to grant the visa.

Do not present false bank statement

Sadly, a lot of travel agents use fake bank statements for their clients. It is expected that visa applicants provide a bank statement as one of the documents for a visa application, but, providing a fake bank statement is wrong and can warrant the embassy to get you banned for 2-5 years depending on the country. Using a travel agent to facilitate your travel is good, but, when it comes to providing a bank statement, you should be the one to provide it.

Using a Sponsor’s Account

Interesting enough, you can present a bank statement of a sponsor but you must be able to establish that you are either related to the sponsor by profession or family ties. The most recognized type of relationship is spouse sponsorship or employer sponsorship. To establish that you are related to your spouse, you should include your marriage certificate in the application and if you are using company sponsorship instead, you need to establish that you are an employee of the sponsoring company, this warrant that you should present your employment letter and personal statement of account showing salary payment from the same employer. Furthermore, you should also explain what the sponsor does for a living and make sure to get a letter of sponsorship or affidavit of sponsorship to buttress your claims. With this evidence and a substantial amount in your sponsor’s account, your visa might be in for approval.


How much do I need to have in my account to get a visa?

We get asked this question a lot and we are finally happy to talk about it here. By standard, you are expected to have enough funds for the trip and that is what determines your account closing balance. But at Naijagoingabroad, we advise our clients to have at least twice that figure. Imagine a trip that would cost a total of NGN700,000, we recommend that you should have at least NGN1,400,000 in your account. This shows that you can not only pay for the trip but you also have enough savings to relief the impact of spending such amount within a short period. This money should be a true reflection of your savings. Looking at your account, the money should have been accumulated over an average period of 3 months or more, and should not be lump sum deposited close to the visa application period. Money lodgement for the purpose of visa is a common thing, we always advise against it, some people do get away with it and many people get refused because embassies are now smarter and can easily detect money lodgement compared to the money that genuinely belongs to you.

Let us show you how to avoid money lodgement situation.

when you print out your statement of account for visa, you should be mindful of the following figures:

  • Opening balance
  • Closing balance

Assuming your opening balance is NGN500,000 and your monthly income/salary is NGN200,000. In your application, if you state that you are single, it implies that you should be able to save an average of 100,000 – 150,000 monthly after expenses. We would expect that your closing balance should be in the range of 100,000 – 150,000 times 6 + 500,0000 = 1,100,000 – 1,400,000. We assumed that you do not have additional sources of income. If you submit an account with, for example, about 5 million naira closing balance, you can see clearly that the money in your account does not correlate with your financial profile, therefore you will need to explain where the money came from, such as explaining and submitting proof of additional sources of income existence.

(Video) How Much Bank Balance Is Required For A Visa (Tourist Visa)

Final note on bank statements for visa application

A bank statement is an important document most embassies request for when a visa applicant is applying for a visa. You need to convince the embassy that the amount in the account is real and you have the financial capacity to take care of yourself when you visit the country and also that you do not intend to travel and work so as to help in sustaining you over there.

Having a sufficient amount is good, you should also make sure the closing balance does not have an outrageous figure or amount. Depending on the class of visa, a considerable amount in your bank statement can still have your visa approved. What matters the most is making sure there is a steady flow of income. Traveling abroad requires money and planning. Saving ahead of time is a good way to raise money to boost your bank statement. When boosting your account, do not stack money into the account close to the period you intend to travel. The embassy will have every reason to deny you the visa doubting the source of your income.

These tips listed here explains the importance of bank statement for visa application. If you are planning to travel abroad any time soon, then your flow of income should be steady.


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