How Much Money Should I Have In My Account For A Uk Visit Visa?

What Is The Acceptable Bank Balance Statement for UK Visa

Acheampong & Associates

Acheampong & Associates

Expert immigration, corporate, and family law firm in Ghana with a client-centered approach, established in 2015.

How Much Money Should I Have In My Account For A Uk Visit Visa?

In your application for a UK visit visa, you are required to satisfy certain requirements. One of these requirements is that you have enough money to take care of yourself for the whole time you are there. This is, of course, linked to your personal circumstances. You must be able to show that you have sufficient funds to pay for your trip either yourself or through a third party. 

  • What is the purpose of a bank statement?

A bank statement serves two purposes. For one thing, it serves as proof of a person’s financial and personal circumstances in their home country. This is the reason why you must provide evidence of your own financial situation, even if someone else is paying for you. Two, it provides a basis for the officer to assess your ability to pay for your trip, taking into account your personal circumstances. 

  • How much money should I have in my account?

The law does not set any minimum amount you must have in your account. Having a large bank balance does not necessarily mean that you have sufficient funds a low bank balance is conclusive of insufficient funds. The guiding principle is that the cost of your trip must be reasonable in light of your financial circumstances in your home country. The principle is not about how much you have in your account. In fact, your closing balance is generally irrelevant in assessing whether the cost of your proposed trip is reasonable in light of your circumstances.

In assessing whether the cost of your proposed trip is reasonable, the officer will examine any financial supporting documents. Your financial documents include your bank statement, bonds and shares certificates, investment documents, etc. The officer will consider your stated total monthly income which includes any additional income you earn from other sources. This may include rental income, dividend payments, interest on investments, etc. 

As already stated, your total monthly income is the total of all sources of income for the month. Your monthly expenses are any fixed and ongoing financial commitments in a month. Examples include the cost of utilities, fuel or transportation, rent, mortgage payments, expenses on dependents, etc.  You are required to state your monthly amount expenses in the application.

The difference between your total monthly income and your total monthly expenses is your monthly disposable income. Your disposable income is your total monthly income less any monthly expenses. In assessing whether the proposed cost of your trip is reasonable, the determination is based on the value of your disposable income in relation to the cost of the trip. If you are spending multiples of your disposable income on the trip, the more likely it is for the officer to question the credibility of the trip as not proportionate to your financial circumstances.

Therefore, your closing bank balance or the total money you have in your account is usually not a consideration in assessing whether your proposed trip is reasonable. the assessment. The main consideration is the value of your disposable income in relation to the total cost of your trip. 

  • Sources of funds in your account

The general rule is that you must be able to show sources of funds in your account. Where your documents show that you have sufficient funds for your planned stay, but either all or the majority of these funds have not been held in your account for long the officer may want to make further checks to establish the origins of the money. 

In addition, the timing of the deposits made into your account may also raise concerns. Deposits made immediately prior to the printing of your bank statement or deposits which do not accord with the history of your account may be viewed with suspicion. Again, if there are deposits or credits into your account from sources that are unrelated to your business or employment, you must explain the sources of the funds.

  • Conclusion

In short, your disposable income is the primary consideration in assessing whether the proposed cost of your trip is reasonable. The total amount of money you have in your account is not a consideration and does not feature in the assessment

Disclaimer: This article only provides general information and guidance on UK immigration law. The specific facts that apply to your matter may make the outcome different than would be anticipated by you. The writer will not accept any liability for any claims or inconvenience as a result of the use of this information. 

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