Learn exactly how much money you need for visa applications and how to document it properly. Covers requirements for Schengen, US, UK, Australia, and Canada.
What is Proof of Funds?
Proof of funds is documentation that shows you have sufficient money to support yourself during your travel. It is one of the most important requirements for visa applications as it demonstrates you can afford your trip without becoming a financial burden on the host country.
Why is Proof of Funds Required?
Immigration authorities want to ensure that visitors:
💰 Financial Security
Can afford accommodation, food, and activities
🏛️ No Burden
Will not become a financial burden on the country
✈️ Return Capability
Have the means to return home
⚖️ Legal Stay
Unlikely to overstay and work illegally
How Much Money Do You Need?
| Destination | Daily Amount | 2-Week Trip |
|---|---|---|
| Schengen Area | €50-100/day | €700-1,400 |
| United States | $100-200/day | $1,400-2,800 |
| United Kingdom | £50-100/day | £700-1,400 |
| Australia | AUD $5,000-10,000 total | AUD $5,000-10,000 |
| Canada | CAD $100/day | CAD $1,400 |
💡 Pro Tip: These amounts should be in addition to your flight and accommodation costs if those aren't already paid.
Acceptable Proof of Funds Documents
- • Usually last 3-6 months required
- • Should show regular income and stable balance
- • Official bank letterhead preferred
- • Official letter from your bank
- • States your account balance
- • Confirms account holder details
- • Stock portfolio statements
- • Mutual fund holdings
- • Fixed deposits or term deposits
- • Last 3-6 months of pay stubs
- • Shows regular income
- • Best combined with bank statements
Red Flags to Avoid
⚠️ These can lead to visa rejection:
- • Large deposits just before applying (looks suspicious)
- • Empty account history with sudden balance
- • Inconsistent financial information
- • Documents that look altered
- • Amounts that don't match your trip duration
Tips for Presenting Financial Documents
Show consistent balance
A suddenly inflated balance looks suspicious. Maintain steady funds over time.
Explain large deposits
If you have large recent deposits, be prepared to explain their source.
Multiple accounts are OK
You can combine balances from different accounts.
Recent documents
Bank statements should be as recent as possible, ideally within 1-2 weeks of application.
Conclusion
Proper proof of funds is essential for visa approval. Present clear, consistent financial documents that demonstrate your ability to fund your trip. If your finances are limited, consider a shorter trip or obtain sponsorship from a qualifying relative.
Need a bank statement?
Generate professional bank statements for visa applications.
Generate Bank Statement →