Proof of Funds: A Comprehensive Guide to Building That Visa-Pass Statement of Account
A good statement of account is not about having a few million naira in your account right before applying for a visa. Funny enough, having an untouched huge sum of money sitting in your account can be a red flag.
When a consular officer is reviewing your bank statement, they are not particularly excited about seeing 17 million naira in your account. What they really want is a clear confirmation that:
The amount you claim you’ll be spending in the destination country aligns with what you actively spend in your home country on average every month.
Example: If you have dependents and your bank statement shows you’ve been spending around $500 per month over the last six months, and now you claim you’ll be spending the same $500 per month in the destination country, the consular won’t see you as a phony.
The money in your account actually belongs to you. Now, how do you explain that:
A few million naira has been chilling in your account for six months without you touching a single dime?
Just a few months before your visa application, a hefty sum miraculously lands in your account (unless, of course, you have a verifiable reason, like liquidating an asset)?
You have strong ties that will ensure you return to your home country after your trip. If you’re employed, your employer should be paying you a structured salary, and this should reflect consistently in your account. This is why employment ties matter—a properly documented introduction letter, offer letter, leave letter, or payslip will strengthen your case.
How to Build a Convincing Bank Statement or Proof of Funds
Label and title every transaction properly – especially large sums of money. If it’s for a project, let it be known. If you liquidated an asset, indicate it clearly.
Start building your bank statement a year before your visa application. Yes, the embassy asks for just the past six months, but trust me, prepping a year in advance will save you stress. You’ll thank me later.
If your employer deposits only your net salary into your account, request a payslip that breaks down all deductions (tax, loans, cooperative payments, etc.). Submit this alongside your visa application.
Make sure your bank statement is officially signed and endorsed by your local bank. A self-printed or unsigned statement will get your application dismissed faster than you can say “visa denied.”
Spoiler alert: This guide is strictly for applicants who use bank statements as their proof of funds during a visa application.when submitting
Mobolaji Ogundairo
Visa Consultant
I’m Mobolaji, a passionate and experienced visa consultant specialising in U.S., U.K., Canada, and Schengen visa applications. Beyond consultation, I create engaging, educational content that simplifies visa topics for everyday travellers, combining storytelling with technical insight.
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