Schengen Visa Minimum Bank Balance Guide: Key Requirements
Last Updated : 20-Dec-2023
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You must show proof to ensure you have a minimum bank balance required for Schengen visas. Here's what you might have to provide for the Schengen financial requirements:
Proof of Accommodation
Prepaid Travel Services
Sponsorship Letter (if applicable)
Employment Verification (if applicable)
The required amount can vary depending on the Schengen country you plan to visit.
If you're planning a trip to Europe with a visa for Schengen. They want to see that you have enough money to ensure you're all set.
Why Is Minimum Bank Balance Important?
Proving you have enough money is super important when getting a Schengen visa. Here's why:
Covering Your Costs: They want to be sure you can pay for everything - your stay, food, travel, and more. It's like showing you won't run out of money while there.
Not Overstaying: By proving you have enough money, you're telling them, "Hey, I can handle my expenses, and I won't stay longer than I'm supposed to." It's like assuring them you won't overstay your welcome.
Following the Rules: Every country has rules for how much money you should have to spend. Showing proof is like saying, "I know the rules, and I've got the cash I need."
It’s about ensuring you've got the funds to enjoy your trip and return home on time without any problems.
How Do I Show I Have Enough Money for a Schengen Visa?
To prove you've got enough money for a Schengen visa, you can use these documents:
Bank statements: Your bank records show how much money you have.
Proof of employment or income: Like a letter from your boss or your pay stubs.
Tax returns: Documents that prove you've paid your taxes.
Proof of property ownership: Show the papers if you own a house or land.
Support from someone else: If someone's helping you financially, you can show that through a sponsorship letter.
Travel insurance: A policy that covers you during your trip.
Credit card statements: Records of your credit card transactions.
Investment statements: Papers showing your investments.
Pension statements: If you get a pension, show the proof.
Booking confirmation for where you'll stay: Proof that you've already booked a place.
Paid return tickets: Tickets showing you're planning to go back.
Any other money-related papers: Anything else proving you can support yourself in the Schengen Area.
Minimum Bank Balance For Schengen Visas
When you apply for a Schengen visa, you must show that you have enough money to care for yourself in the Schengen area. Schengen countries have specific rules about how much money you should have.
Additionally, the required bank balance for a Schengen visa, serving as proof of sufficient financial means, varies by country, ranging from a minimum of €14 to a maximum of €130 per day, depending on where you apply.
Here are the minimum bank balances for Schengen visas according to the specific country.
INR values are subject to change based on the current exchange rate.
Means of Subsistence for Austria
Ensure your bank statement has at least €3000 for the last 6 months. But, if you can, it's even better to show more money—around INR 8 to 10 lakhs. This makes your Austria visa application look stronger.
Means of Subsistence for Belgium
The Belgium visa application wants you to prove you have at least €95 per day if you're staying in a hotel (and haven't paid for it yet) and €45 per day if you're staying in a cheaper place or have already paid for your hotel. You can prove this with a bank statement if you cover all the costs yourself.
Having around INR 8 to 10 lakhs in your account is a good idea. This makes your application stronger and increases your chances of getting a visa.
Means of Subsistence for the Czech Republic
You need to show you have enough money for a short-term visa to the Czech Republic. The rule is about 1,100 CZK or 42.50€ for each day you plan to stay. If you're staying for more than 30 days, you must also show 33,000 CZK or 1,274€, plus an extra 4,400 CZK or 170€ each month you're there.
But this is just the minimum. If you show you have more money, around INR 8 to 10 lakhs, it strengthens your visa application and increases your chances of getting approved.
Means of Subsistence for Denmark
To get a Schengen Denmark visa, they want you to have a certain amount of money. If you're staying in a hotel, you need about 500 DKK or 67.24€ per day. If you choose a cheaper place like a hostel, you can manage with 350 DKK or 47.07€ per day.
But you don't need as much money if you've already paid for your stay or someone else is covering it. Around INR 8 to 10 lakhs in your account make your Denmark visa application stronger and more likely to be approved.
Means of Subsistence for Estonia
According to the Ministry of Foreign Affairs of the Republic of Estonia, to get a Schengen visa for Estonia, you should have a minimum of €130.80 in your bank account for each day of your stay.
Means of Subsistence for Finland
To get a Schengen visa for Finland, you need to be able to spend at least €30 per day during your stay.
Means of Subsistence for France
The general financial requirement for a visa to France is €65 per day. However, this amount can change based on your accommodation:
Staying with a family member or friend: €32.50 per day
Hotel reservation: €65 per day
Partial hotel reservation: €65 per day for reserved days, €120 per day for unreserved days
No accommodation: €120 per day
Having around INR 8 to 10 lakhs in your account significantly improves your chances of getting your France visa approved.
Means of Subsistence for Germany
To get a Schengen visa for Germany, you generally need to show that you have at least €45 per day. Remember that the German embassy considers various factors like the length of stay, whether you're staying with friends or family, and the purpose of your visit.
Means of Subsistence for Greece
For a Schengen visa to Greece, if you're staying for five days, you need at least € 300 in your bank account. If your stay is over five days, you need an extra €50 for each additional day. If you're a minor, these amounts are cut in half.
Means of Subsistence for Hungary
To get a Hungary visa, you need a minimum of 10,000 HUF or €24 per day. This is just a reference, though. If you can prove you have more money for your time in Hungary, your chances of getting the visa are higher.
Means of Subsistence for Iceland
If you want an Iceland Schengen visa, you must prove you have at least ISK 8000 or €56 per day. If someone else is sponsoring you, this amount is cut in half to ISK 4000 or €28 per day. Generally, you need a minimum of ISK 40,000 or €280 for your stay.
Means of Subsistence for Italy
According to the Ministry of Foreign Affairs and International Cooperation of Italy, when you apply for an Italian visa, you must show you have enough money for your stay. Here are the minimum amounts required:
Up to five days: €269.60 per person or €212.81 per person if you're in a group of two or more.
Six to 10 days: €44.93 per person per day or €26.33 per person per day if you're in a group of two or more.
11-20 days: €51.64 per person plus €36.67 per day or €25.82 per person plus €22.21 per day if you're in a group of two or more.
Over 20 days: €206.58 per person plus €27.89 per day or €118.79 per person plus €17.04 per day if you're in a group of two or more.
Ensure you have these amounts available during your stay in Italy to prove you can afford it.
Means of Subsistence for Latvia
To visit and stay in Latvia, you must show that you have enough money, as the law requires. You should have at least €14 for each day you plan to stay. This helps make sure you can take care of yourself during your visit.
Means of Subsistence for Lithuania
According to the Minister of the Interior and the Minister of Foreign Affairs, you must have a minimum of €40 per day during your stay in the country to obtain a visa for Lithuania. You must also prove that you have enough financial means to return to your home country, i.e., purchase a return ticket.
Means of Subsistence for Liechtenstein
If you are shouldering the costs of your visit to Liechtenstein, you must prove you have at least CHF 100 per day or €100 in your bank account when you apply for a Liechtenstein visa.
Means of Subsistence for Luxembourg
People from countries outside the European Union need to show they have about €67 per day for the entire planned stay. This proves they have enough personal funds to cover their visit, return home, or travel abroad.
Means of Subsistence for Malta
According to Malta's foreign representative offices, if you want to get a Schengen visa for Malta, you must have at least €48 per day. Remember that you might need more money in Malta, especially if you plan to do expensive activities.
Means of Subsistence for Norway
When applying for a visa to Norway, you must show evidence of a bank balance of at least 500 NOK or €43.33 per day for your entire stay in Norway. If you don't meet these financial requirements, Norwegian authorities may refuse your entry into the country.
Means of Subsistence for the Netherlands
You must have a certain amount of money each day for a visa to the Netherlands. If you're staying with someone, it's € 32.50 per day. If you've booked a complete hotel stay, it's €65 per day.
But, if you've only booked part of your hotel stay, you need EUR 65 for the days you've reserved and € 120 for the days you haven't. If you don't have any accommodation booked, you'll need € 120 daily.
Means of Subsistence for Poland
To get a visa to Poland for a stay of up to 3 days, you must show a minimum of PLN 300 or €62 for the entire stay. If you plan to stay longer than three days, you must provide at least PLN 75 or €15 for each day of your stay.
If you are visiting Poland for specific reasons, like being part of a youth camp, a tourist or a sports event, or if someone else is covering your costs, you must show at least PLN 20 or €4.19 daily.
Means of Subsistence for Portugal
To get a Portugal Schengen visa, you must show that you have at least €40 daily in the country or a minimum of €75 each time you enter.
Note: If you can prove that your accommodation and food are covered during your stay in Portugal, you might not have to pay these amounts.
Means of Subsistence for Slovakia
To get a Schengen visa for Slovakia, show you have at least €56 to spend per day. According to the Slovak Ministry of the Interior, this amount covers accommodation (€30), food expenses (€19), and spending money (€7).
Means of Subsistence for Slovenia
For a Schengen visa to Slovenia, you must prove you have a minimum of €70 to spend daily during your stay. If you're a minor, this amount is halved to €35.
Means of Subsistence for Spain
The money you need to present to a Spanish embassy or consulate for your Spain visa is regulated by the Ministry of the Presidency of Spain (PRE/1282/2007). It is set at a minimum of €100 per day, with a minimum of €900 per person regardless of the intended duration of the stay.
Means of Subsistence for Sweden
According to the Immigration Authorities in Sweden, all foreigners who want to enter the country with a Sweden visa must show proof that they have a minimum of SEK 450 or €41 to spend per day for their stay.
Means of Subsistence for Switzerland
For a Switzerland Schengen visa, they want you to show you have at least 100 CHF or €92.34 for each day you plan to stay. But keep in mind that this is just the minimum. If you can prove you have more money, it strengthens your visa application and increases your chances of getting approved.
Tips For Maintaining The Minimum Bank Balance For Schengen Visas
Here are tips for handling money and showing bank statements for a Schengen visa:
Know the Financial Requirements: Find out how much money you need in your bank account for the visa. Different countries might ask for different amounts.
Consistent Balance: Keep a steady amount of money in your bank account over time. Big changes in your balance might cause questions.
Regularly Check Your Statements: Check your bank statements regularly to ensure they show the right amount of money. This helps you catch any mistakes early.
Avoid Last-Minute Transactions: Try not to do important money stuff right before you apply for the visa. It's better if your financial situation looks stable.
Organise Your Documents: If you have other papers that show your money situation, like pay slips or tax returns, include them. They can make your application stronger.
Know About the 90/180 Rule: You can only stay in the Schengen Area for a few days. Make sure your money matches your planned stay.
To sum it up, when planning a trip to Schengen countries, knowing the financial requirements for the visa is important. Each country may have its rules, so be ready with the needed funds and documents.
Remember the 90/180-day rule, which means you can stay for a maximum of 90 days within any 180-day period. Whether you're exploring Spain, Germany, or Sweden, having the right info ensures a smooth and enjoyable journey.
At Atlys, we're committed to giving you accurate details for your Schengen trip. We rely on the latest updates from Schengen governments to ensure our information is reliable. Our blog uses smart technology to make complex topics easier to understand.
We trust official government sources to provide the most up-to-date info.
Remember, government rules and fees can change. Before applying, it's strongly advised to check the official website for the latest information.
Frequently Asked Questions
The required amount can vary between Schengen countries. Check the specific embassy or consulate guidelines, but a common minimum is around €3000 for the past 6 months.
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