All the applicants seeking a UK visa, either a work visa, visit visa, or family sponsorship, require a bank statement or proof of funds. Now the question arises as to why UKVI needs a minimum bank statement is required from them? UKVI wants the workers or tourists applying for visas to support themselves rather than relying on public funds during their stay in the UK.
Now comes the fact that it is helpful to have a good bank statement, and if yes, then how? A good bank statement will influence your visa application positively, increasing the chances of their visa approval. The immigration officers spend more time studying and reviewing your financial assets.
All the applicants need to show an official bank statement. It is a must for the applicants to state in the cover letter about the availability of the money in their bank account. It is proof that you have enough money to support yourself and other dependents in the UK.
For large deposits, make sure to write the context. In this article, we will enlist a little introduction about bank statements and the list of UK Visas requiring proof of funds in your bank account.
An Introduction to an Official Bank Statement
An Official Bank Statement is such a document that the applicants collect from the desired bank where their account is maintained. The statement displays the bank’s logo and several branding elements, like the bank name, address, and contact information. It must have a bank stamp and signature.
An Introduction to an Account Maintainance Certificate
The Account Maintainance Certificate is the one that displays your account number, your full name, the Account type (savings, checking, investment, and other details.), Account opening date, Current account balance (optional), Bank name and logo, and date of issuance. Just like the Bank Statement, your Account Maintainance Certificate must be signed and contain a bank stamp.
Proof of Funds Required for Work Visas of UK
The availability of at least £1,270 in your bank account demonstrates that the applicant can support himself during his stay in the UK. Moreover, your sponsor agrees to extend his financial support to you or is ready to cover your accommodation expenses. The work visas are given below:
- Skilled Worker
- Senior or Specialist Worker visa (Global Business Mobility)
- Graduate Trainee visa (Global Business Mobility)
- UK Expansion Worker visa (Global Business Mobility)
- Secondment Worker visa (Global Business Mobility)
- Service Supplier visa (Global Business Mobility)
- Minister of Religion (T2)
- International Sportsperson
- Seasonal Worker
- Creative Worker
- Religious Worker
- Charity Worker
- International Agreement
- Government Authorised Exchange
- Scale-up Worker
Proof of Fund Required for Some Visas
Below is the list of minimum proof of funds required for some visas.
- Start-up visa: The minimum proof of Funds required for it is £1,270.
- Innovator visa: Minimum proof of Funds required for it is £1,270.
- High Potential Individual visa: The minimum proof of Funds required for it is £1,270.
- Youth Mobility Scheme visa: The minimum proof of Funds required for it is £2,530.
Proof of Funds Required for Spouse and Children
Some visa categories allow the applicants to bring their spouse and children (dependents) with them. In this case, applicants must show the proof of funds required for them. The amount required for funds is available below:
- £285 for your spouse (husband/wife).
- £315 for your first dependent child.
- £200 for a second or other dependent child.
Proof of Funds Required for Student Visas in the UK
The proof of funds required from the applicants applying for a UK Visa is available below:
For Student Visa
- £1,334 per month is required for courses in London (up to 9 months).
- £1,023 per month is required for courses outside London (up to 9 months).
For Child Student Visa
- £1,560 per month is required for up to 9 months.
- £625 a month is required for each additional child they accompany to the UK.
However, some citizens belonging to other countries are exempt from showing proof of funds.
Proof of Funds Required for UK Tourist/Visiting Visa
The exact proof of funds required from the tourists depends on their number and duration of stay in the UK. So, there is no fixed bank statement or proof of funding for the tourist visa. The immigration officer will ensure that the applicant has enough money in a bank account to cover the following expenses while staying in the UK:
- Travel expenses (flights, airport taxes).
- Accommodation expenses.
- Food and daily expenses.
- Any other planned tours or activities.
- Return traveling expenses.
Strong relations to your home country, such as job, family, property, etc., will secure your application. Also, your financial resources in your country may support your proof of funds.
Cost of Visitor Visas in the UK
We have illustrated the visa duration, the cost, and the maximum duration of stay in the UK in the table below:
|Duration of Stay
|Standard Visitor Visa
|Standard Visitor Visa for Medical Reasons
|Standard Visitor Visa for Academics
|2-year Long-term Standard Visitor Visa
|6 months per visit
|5-year Long-term Standard Visitor Visa
|6 months per visit
|10-year Long-term Standard Visitor Visa
|6 months per visit