If you want to apply for a French Schengen visa you will need to meet the minimum bank balance for Schengen visa. All the visa requirements are important, including the financial requirements, because the French authorities want to be sure that you have the resources to foot your bills during your brief sojourn in their Schengen country. Based on the European Commission rules, foreign nationals from a non-visa-exempt country seeking entry into Fence for a short stay must have a specific amount per day to meet their needs. This rule came into force on 19 June 2014 and has remained in place ever since.
In this article, we want to review the proof of financial means expected from all visitors coming to France and other relevant information you should know.
What Is The Minimum Bank Balance For Schengen Visa?
The minimum balance for a Schengen visa for France depends on a few conditions, as explained below.
Absence of Proof Of Accommodation: If the visitor does not have proof of accommodation like a hotel room reserved or a house belonging to a relative where they can stay, they must possess a minimum of €120 to cover their daily expenses, accommodation, food, transportation, and miscellaneous items.
If They Have Accommodation: If they have a hotel room reserved or a private apartment to stay, the daily expense amount drops to €65 since they no longer have to pay for accommodation. In the event that the applicant has a much cheaper form of accommodation, the daily amount drops to €32.25.
When preparing for a visa application, proof of financial means is one area you should take very seriously because the authorities do. The embassy officials will want to see whether you can foot your bills without putting any strain on France's social facilities. Your ability to demonstrate your financial readiness will determine whether you get the visa.
You Must Provide Financial Supporting Documents
You will be asked to attach financial documents to show proof of your capacity to fund your trip and expenses. The financial document to prove your means of subsistence is an acceptable document that indicates that you, who are seeking to enter France, have the financial ability to travel to France and reside in the country per the current living standards. There are a few ways to prove financial sufficiency.
Bank Statement: One way to prove financial sufficiency is with your personal bank statements, which must cover at least the last three months. The statement must show the financial records of all your transactions, including the final balance. The embassy will also insist on a stamped and signed statement.
Credit Card Statement: This is another means to prove sufficiency if you don't operate a standard bank account. You only need to furnish the embassy with records of your credit card transactions for the last three months.
Cash: The third option is to use cash. You simply calculate the days you plan to stay in France and multiply it by the required daily amount, depending on your accommodation situation.
Travelers Cheque: In countries where traveler cheques are still a thing, you can fund a traveler's cheque and travel with it to France and cash it afterward.
Payslips: Payslips are mandatory for persons working with an employer. They have to submit their payslip for the last three to six months, and the slip must show their net income every month, excluding taxes.
Proof of Employment: A proof of employment may also be requested along with the pay slip to prove their employment.
Apart from the above documents, supporting documents like proof of prepaid accommodation, a document for the accommodation in question, and proof of prepaid transport may be required.
Law Governing Proof of Subsistence
The European regulation EC No 810/2009 of the EU parliament passed by the council on 13 July 2009 established a community visa code. Under the 14th article states that Schengen visa applicants must provide documents to show that they have sufficient means to cover the duration of their intended stay until they return to their home country or country of residence.
This visa code was set up to create uniformity for laws passed by member states in the Union. The law also gives room for stages to decide on the daily amount based on their national rules. This is why every member state is allowed to have different minimum amount requirements for travelers coming to their country instead of a fixed amount. The idea is to ensure that visitors are able to afford the minimum living standards once they arrive.
Before you apply for a French Schengen visa, make sure you boost your minimum bank balance for Schengen visa to suit the requirements.