What is the minimum bank balance for visitor visa in Australia?

Minimum Bank Balance Requirement for Australian Visitor Visa

When applying for an Australian visitor visa, demonstrating sufficient financial means is essential for a successful application. This involves providing recent bank statements that meet the minimum balance requirement.

Specific Financial Requirements

According to the Australian Department of Home Affairs, applicants for a visitor visa must have a minimum closing bank balance of $5,000 AUD per person. This amount should be present in the applicant’s account for at least three months prior to submitting the visa application.

Importance of Meeting the Balance Requirement

Meeting the minimum bank balance requirement is crucial for the following reasons:

• It provides evidence that the applicant has sufficient funds to support themselves during their stay in Australia.
• It helps the Australian government assess the applicant’s overall financial stability and ability to finance their travel expenses.
• It demonstrates that the applicant is a genuine visitor who does not intend to stay illegally in Australia.

Acceptable Bank Statements

Acceptable bank statements for visa applications should include:

• The applicant’s name and account number
• The account’s closing balance and date
• The account’s transaction history for the preceding three months
• A bank statement certified by the bank or a notary public

Additional Considerations

It is important to note that the minimum bank balance requirement is only one aspect of the financial assessment for a visitor visa. Other factors that may be considered include:

• Income sources and stability
• Employment history
• Proof of assets or investments
• Sponsorship from a family member or friend in Australia

Applicants who have difficulty meeting the minimum bank balance requirement may consider seeking assistance from a visa agent or legal professional. They can provide guidance on alternative ways to demonstrate financial capability and increase the chances of a successful visa application.