Even with extreme caution, there are still situations in which the proof of finances may be denied as an application. It is essential that you realize the standards that the immigration authorities are seeking and prepare your documents appropriately.
Reasons why the proof of funds can get rejected:
All applicants must state the right amount of funds in its currency when applying for a visa. The application may be rejected if this minimal required factor is not fulfilled.
To avoid having your evidence of funds denied, you must stay up to date on the most recent visa funding rules. You must update your application with the most recent, higher amount if you previously stated a lower amount due to out-of-date criteria.
- Transferability and Stability
Money must be easily accessible and transportable, free from debt or other commitments. Rejection may result if the visa officer is dissatisfied with the money’ stability and transferability.
A number of factors, including political unrest, market trading, and economic indicators, can cause currency prices to fluctuate commonly. Applicants who declare funds in a foreign currency must take exchange rate variations into mind. The sum must equal or exceed the amount of money in the currency that is needed on the day the application is submitted.
It can be problematic to provide financial proof that is confusing or lacking, such as bank statements that do not span the necessary time frame. To show your financial stability, for instance, the immigration authorities need bank statements for the last six months.
