Recent advancement in technology has made people place more trust into fintech companies. However, financial documents from these platforms will put your visa application on 50% chances for approval, as embassy policies differs, while some embassy resent microfinance banks, some embrace it. Microfinance banks credibility and licensing should be vetted before using their bank statement as a proof of funds document.
Embassy place high trust and credibility on Commercial banks, to deliver profound proof of funds documents. They trust commercial banks to ensure each individual accounts follow all policies laid by the Central Bank in the traveler’s country and the traveler’s ease to access the fund from the bank.
After defining your travel purpose and proof of funds requirement form the embassy. The next step you take is vital to the success of your application.
The bank statement submitted at the embassy must be officially printed and should clearly show significant details like bank email, bank head office address, website and phone number, the specified duration required by the embassy, and an official bank stamp.
Additional significant guides for proof of funds include: At no time in the stipulated duration should you have an opening balance of N0.00, avoid bank statement with no transaction history, maintain consistent flows throughout the period. In as much as you’re few steps ahead, avoid petty mishaps that could ruin your application.
While using a Commercial bank statement places you at a significant advantage approval is never guaranteed. Factors such as inconsistent transactions, zero balances at any time, or sudden unexplained deposits can jeopardize your strong application