Traveling to Europe can be an exciting experience. However, to be able to enter the Schengen area, you need to apply for a Schengen visa. One of the requirements to obtain a Schengen visa is to have a minimum bank balance. In this article, we will discuss in detail what the minimum bank balance for Schengen visa is and how you can fulfill this requirement.
What is a Schengen visa?
A Schengen visa is a visa that allows you to enter and travel within the Schengen area. The Schengen area is a zone comprising 26 European countries that have abolished passport and other types of border control at their mutual borders. If you are traveling to Europe and plan to visit more than one country in the Schengen area, you will need a Schengen visa.
What is the minimum bank balance for Schengen visa?
The minimum bank balance for Schengen visa varies depending on the duration and purpose of your travel. As a general rule, you should have enough funds to cover your travel expenses and stay in the Schengen area. The minimum bank balance varies from country to country, but as a general guideline, you should have at least 60-90 euros per day of your stay.
How can you fulfill the minimum bank balance requirement?
There are several ways to fulfill the minimum bank balance requirement for Schengen visa:
Saving up
If you have enough time before your travel, you can start saving up to fulfill the minimum bank balance requirement. You can cut down on unnecessary expenses and put aside a certain amount of money every month until you have enough funds to cover your travel expenses and stay in the Schengen area.
Borrowing money
If you do not have enough savings, you can borrow money from a friend or family member. However, you need to provide proof that you have borrowed the money and that you will be able to repay it after your travel.
Show your income
If you have a stable income and can provide proof of it, you can use it to fulfill the minimum bank balance requirement. You can provide your employment contract, salary slips, and bank statements to show that you have a stable income.
Provide a sponsor
If you have a friend or family member who lives in the Schengen area, they can sponsor your travel. They will need to provide proof of their income and bank balance and sign a sponsorship letter stating that they will cover your travel expenses and stay in the Schengen area.
What documents do you need to provide?
To fulfill the minimum bank balance requirement, you need to provide the following documents:
Bank statements
You need to provide your bank statements for the past three to six months. The bank statements should show your account balance, transaction history, and other details.
Proof of income
You need to provide proof of your income, such as your employment contract, salary slips, or tax returns.
Sponsorship letter
If you are being sponsored by a friend or family member, you need to provide a sponsorship letter signed by your sponsor. The sponsorship letter should include details of your sponsor’s income and bank balance and their commitment to cover your travel expenses and stay in the Schengen area.
Conclusion
If you are planning to travel to the Schengen area, you need to fulfill the minimum bank balance requirement to obtain a Schengen visa. The minimum bank balance varies depending on the duration and purpose of your travel. You can fulfill the minimum bank balance requirement by saving up, borrowing money, showing your income, or providing a sponsor. Make sure to provide all the necessary documents to fulfill the minimum bank balance requirement.
