When applying for a student visa as an international student, one of the most important documents that immigration authorities request is financial proof.
This document is essential because immigration authorities can assess whether the student can cover their living expenses while studying abroad without working.
Many times, international students have always asked the question if they can use multiple bank accounts as financial proof for their student visa.
The simple answer is yes. In many cases, immigration authorities allow international students to provide more than one bank account as their financial proof.
However, this depends on the country the student is applying to and the specific requirements set by the country’s immigration authority.
Why Students May Use Multiple Bank Accounts as Financial Proof?
One of the reasons why students may decide to use more than one bank account as their financial means.
Some of the reasons may be that they have a separate savings and current account, their education is being sponsored by a relative or guardian, or through joint financial support from both of their parents.
There is also the situation where the use of scholarship funds is combined with the student’s personal savings.
Using multiple accounts as financial proof when applying for a student visa will not create a problem, provided that every document is genuine and valid.
The student must also follow the requirements for the country they are applying for throughout the application process.
For immigration authorities, what they watch out for is,
- If the funds meet the minimum financial requirements set for each country.
- The money is genuine and not obtained through fraudulent activities.
- The money must be accessible when the student needs it.
- All the financial documents from the multiple bank accounts must be valid and genuine.
- There must be evidence or explanation to back the presence of large deposits in the bank account.
Once students are able to meet all these requirements, it does not matter if they make use of one, two, or three accounts during their visa application.
Read More: Can You Reapply Immediately After a Student Visa Refusal?
Common Mistakes to Avoid When Using Multiple Bank Accounts As Financial Proof
Many students may experience visa delays or refusals if they do not avoid the following financial errors. Some of these include:
- The use of inconsistent bank statements: This means using bank statements that do not clearly show the amount, and there’s no evidence to back them up.
- Large unexplained deposits: When immigration officers notice that there are deposits of large sums of money with no evidence to back up where they are from. It may raise questions and trigger immigration authorities to either delay the student visa or deny it.
- Not submitting recent bank statements: Immigration officers expect that students must submit up-to-date financial documents. If students submit documents that are outdated or financial statements that are not up to date, it will lead to visa delays.
- Making use of the same immigration rules for every country: Each country has their own rules pertaining to immigration and financial evidence requirements. Don’t rely on a one-size-fits-all pattern. Rather, make use of direct information from the immigration portal of the specific country you’re applying for.
Destinations That Allow The Use of Multiple Bank Accounts for Financial Proof
Several countries allow international students to make use of multiple bank accounts. However, their requirements vary from one to the other. Let’s take a look at a few.
United Kingdom
The United Kingdom allows international students to submit multiple bank accounts as financial proof for their student visa application.
However, students must provide accounts that meet the required amount for their tuition and living costs, as provided by UK Visas and Immigration.
Also, the bank account must show the required amount of £900 and £1,400 per month if outside London, and £1,400 to £2,000 per month for those within London.
The student needs to be in continuous hold for at least 28 days in a single calendar month. Students must also show proof to back up the account and show the relationship they have with the owner of the account.
This may be like a birth certificate, consent letter, or parents’ name and their relationship with the account holder. At the end of the 28 days period, the students will be requested to provide an official bank statement and a formal bank letter for each of the accounts they will be submitting.
Ireland
In Ireland, international students can submit multiple bank accounts for their student visa application. However, as per the Ireland Immigration Service Delivery ISD, students must show accounts with up to six months transaction history.
During the course of this transaction and the multiple tuition, the account must hold at least €10,000, which will serve as the tuition and living expenses for the student as they study in the country.
The funds must be accessible and logged in a savings or fixed account for the student. Upon the completion of the six months transaction history for each of the accounts, the student must provide a detailed letter and evidence, along with evidence of relationship with the bank owner, before submitting for financial proof.
Canada
Canada also allows the use of multiple bank accounts as financial proof when applying for a student visa. Students are able to combine statements from different bank accounts to show that they have enough money to cover their living expenses, which is a minimum of CA$22,895 for a single year of study.
The accounts to be submitted must be in the student’s name or in the name of a sponsor or their parents, along with evidence of relationship. The account must be in existence for at least four months, of which the statement will then be submitted for each of the accounts.
The Immigration, Refugees and Citizenship Canada portal is where students can get official guidelines on the accepted documents and how to submit multiple bank accounts for their student visa.
Malaysia
Malaysia also announced the use of multiple bank accounts verification for international students applying for student visa and pass. The students must have the required amount to study in the country, along with their living expenses.
The minimum amount ranges from RM 1,500 and RM 2,500. The account must be in the student’s name or in their parents’ or legal guardian’s name.
If it is an account of a sponsor, the student must provide supporting documents to show the relationship between the student and the sponsor, or a sponsorship letter, to show that the student is being legally supported by the sponsor.
Usually, the Malaysian immigration allows students to submit bank statements of up to three months. And they detest the accounts that have unexplained large deposits, and accounts that are not genuine.
Read More: Can You Change Universities After Getting a Student Visa?
In Conclusion,
Using multiple bank accounts as financial proof when applying for a student visa is acceptable by many study abroad destinations. What they need to know is that the funds are genuine, accessible, and that there are complete documents to back up the financial statements.
Before submitting a student visa application, it is important that you carefully review your financial documents, ensure that you meet the requirements specific to the country you’re applying for, and keep your bank statements up to date.
With proper preparation and planning, and by submitting financial documents that are accurate, genuine, and up to date, you can make use of multiple bank accounts seamlessly when applying for your student visa.
