What Is Minimum Bank Balance For a Schengen Visa?

Are you applying for a Schengen Visa? If yes, you must maintain a minimum bank balance for a Schengen Visa. In professional terms, the same term is proof of sufficient funds for the Schengen visa application. In this article, our experts will walk you through the minimum balance for a Schengen visa application. All you need to do is to stay with us to ace your visa application process. 

Minimum Bank Balance For Schengen Visa – What Is Schengen Visa? 

The Schengen visa is a type of visa that permits you to travel and move freely in as many as 26 European countries. These countries sign the Schengen agreement and have abolished their national borders in favor of a uniform border.

Minimum Bank Balance For Schengen Visa

The signatories to the Schengen Agreement are as follows:

Austria, Belgium, Denmark, Czech Republic, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden, and Switzerland.

The Schengen area aims to bring the EU to par with China and USA in terms of economy. Therefore, the country’s signatories to the Schengen agreement allow the free movement of people and goods. The correspondent embassy or consulate of the country where you aim to spend most of the time or the country where you intend to enter first issues you the Schengen visa.

When it comes to submitting the visa application, you need to attach the following supporting documents with your visa application:

• Flight reservations for visa application 
• Travel health insurance
• Hotel bookings for visa application 
• Proof of sufficient funds (aka minimum bank balance for Schengen Visa)
• No objection letter 
• Sponsorship letter (if any)
• Invitation letter (if any)
• Hospital Report (for medical visa) 

However, mentioning that the embassy or consulate may demand additional documents for verification purposes is pertinent. 

What Is The Minimum Bank Balance For A Schengen Visa? 

As stated above, the requirement for a minimum bank balance for a Schengen visa is known as proof of sufficient funds in professional terms. 

Proof of sufficient funds is an essential requirement for obtaining a Schengen visa. It is a document that proves that the applicant has enough financial means to cover the expenses of their stay in the Schengen area.

The minimum bank balance for Schengen visa requirements varies on the type of visa. The three main types of Schengen visas are as follows:

• Schengen Tourist Visa
• Schengen Medical Visa
• Schengen Business Visa

While the requirement may vary vis-a-vis individual circumstances for medical and business visas, the requirement is the same for tourist visas. 

Schengen Tourist Visa – Minimum Bank Balance For Schengen Visa

The details are as follows:

Austria: You should have a minimum bank balance for a Schengen visa equivalent to EUR 100 daily. 

Belgium: You should have a minimum bank balance for a Schengen visa equivalent to EUR 95 daily. 

Denmark: You should have a minimum bank balance for a Schengen visa equivalent to DKK 500 per day

Czech Republic: You should have a minimum bank balance for a Schengen visa equivalent to CZK 1490 per day (if the stay is less than 30 days) and CZK 44700 (if the stay is more than 30 days). 

Estonia: You should have a minimum bank balance for a Schengen visa equivalent to EUR 130.80 daily. 

Finland: You should have a minimum bank balance for a Schengen visa equivalent to EUR 30 daily. 

France: You should have a minimum bank balance for a Schengen visa equivalent to EUR 65 daily. 

Germany: You should have a minimum bank balance for a Schengen visa equivalent to EUR 45 daily. 

Hungary: You should have a minimum bank balance for a Schengen visa of 10,000 HUF daily. 

Iceland: You should have a minimum bank balance for a Schengen visa equivalent to ISK 8000 per day. 

Italy: You should have a minimum bank balance for a Schengen visa equivalent to EUR 269.90 per day for stays up to 5 days and EUR 44.93 per day for stays up to 10 days. 

Latvia: You should have a minimum bank balance for a Schengen visa equivalent to EUR 14 daily. 

Liechtenstein: You should have a minimum bank balance for a Schengen visa equivalent to CHF 100 per day. 

Lithuania: You should have a minimum bank balance for a Schengen visa of EUR 40 daily. 

Luxembourg: You should have a minimum bank balance for a Schengen visa equivalent to EUR 67 daily. 

Malta: You should have a minimum bank balance for a Schengen visa equivalent to EUR 48 daily. 

Netherlands: You should have a minimum bank balance for a Schengen visa equivalent to EUR 55 daily. 

Norway: You should have a minimum bank balance for a Schengen visa equivalent to EUR 48 daily. 

Poland: You should have a minimum bank balance for a Schengen visa equivalent to PLN 300 for a stay of up to 3 days and PLN 75 each day if the total duration exceeds three days. 

Portugal: You should have a minimum bank balance for a Schengen visa equivalent to EUR 40 per day spent in the country. 

Slovakia: You should have a minimum bank balance for a Schengen visa equivalent to EUR 56 daily.

Slovenia: You should have a minimum bank balance for a Schengen visa equivalent to EUR 70 per day for adults and EUR 35 for minors.

Spain: You should have a minimum bank balance for a Schengen visa equivalent to EUR 100 per day with a minimum of EUR 900 (regardless of the duration of the intended stay). 

Sweden: You should have a minimum bank balance for a Schengen visa equivalent to EUR 48.60 daily. 

Switzerland: You should have a minimum bank balance for a Schengen visa of CHF 100 daily. 

Slovenia, Spain, Sweden, and Switzerland. 

The number of funds required may vary depending on the purpose of travel, the duration of stay, and the destination country. Generally, the applicant should have at least €50 per day for their stay in the Schengen area.

Proof of sufficient funds can be demonstrated in different ways, including bank statements, a sponsorship letter from a sponsor, traveler’s cheques, and credit card statements. The documents should show that the funds have been available in the applicant’s account for at least three months before the date of application.

The documents should also demonstrate that the funds are readily available and belong to the applicant or the sponsor. If the applicant is being sponsored, the sponsor should provide a letter of sponsorship stating that they will cover the applicant’s expenses during their stay in the Schengen area.

It is important to note that providing false or incomplete information or documents can lead to the refusal of the visa application. Therefore, applicants should ensure that they provide accurate and complete information and documents to avoid any issues with their application.