lack of funds lead to visa rejection

Does lack of funds lead to Visa rejection? All you need to know

There is no doubt that universities are charging today’s students more for higher education in comparison to prior generations. The average cost of undergraduate tuition, fees, and living expenses climbed 169% between 1980 and 2020.

While parents may plan their finances according to their child’s higher education and invest in funds on time, they may still not be able to factor in inflation while focusing on the foreign application process in general.

There are some rules to be followed to get your visa accepted, any error can cause your visa rejection. Canada alone rejected nearly 41% of the visa applications in 2022 itself.

1. Visa refusal

Rejection of your request for entry into another country by an embassy, consulate, or high commission is known as a visa refusal. They offer the necessary reasons for the visa denial, which can enable you to make amends in subsequent visa applications.

There are requirements you must meet to apply for a visa. You will not be granted a visa if you do not fulfill them.

You might need to meet certain requirements, such as not having any pending criminal charges against you and not having given incorrect facts on the application for the visa.

Your biggest nightmare might be having your visa application rejected. It is agonizing to put in numerous hours and efforts to obtain a visa only to have it denied.

Whatever the grounds for the visa rejection, it not only crushes your plans to visit your destinations but also significantly impacts your future travel.

2. Lack of funds in the bank account

This is among the most frequent reasons for visa denials. You must prove that you have the resources to support your stay for the entire period of your trip before entering a country.

The expense of your travel in a certain country has been determined by the consulate at a specific amount. This is to prevent you from having a difficult time in the nation and from turning into a burden on it.

A visa application may be denied if your account does not show the anticipated amount. It may also be denied if the money is difficult to obtain.

For instance, to obtain a visa for a 15-day stay in the USA, you must have between $5,000 and $10,000 in your bank account. Your visa application will be denied if your bank statement reveals a balance of less than $ 5,000 and you requested a stay of 20 days.

Additionally, if you send a credit card or other paperwork in place of an account statement, your application may be denied.

An applicant for a student visa must be able to demonstrate their financial capacity to cover the cost of their first academic year. Consuls stationed in poor nations are extra careful against fraud in this area.

Presenting a bank statement that demonstrates a $50,000 transfer onto your sponsor’s account two days before the interview would raise concerns about the source and the authenticity of the funds’ availability to cover the cost of the education.

Parent-sponsors who work in low-paid government posts could come under suspicion. Friends who serve as sponsors could be questioned about their level of dedication.

How familiar are you with this uncle-sponsor? How recently did you last see him? Most governments investigate how you came by the presented funds.

Additional read: Financial Planning for Contingencies

Steps to avoid Visa refusal and rejection

You should generally be aware of the causes of visa rejection to prevent refusal or rejection. You must be extremely careful to follow all rules and regulations, provide the required documentation, and keep all differences to a minimum when applying for a visa.

  • Check out the instructions on the embassy’s website.
  • After reading the directions, submit an online application.
  • No section or column should be empty. To give the correct information, follow the directions provided in the relevant section.
  • Include legal documentation.
  • Maintain sufficient funds in your account.
  • Clearly state why you want to visit, remain, and then leave the country.
  • Do not make grammatical or spelling errors.
  • Prepare your application well in advance.
  • Complete the appropriate visa application processes.
  • Some important factors to think about are your bank account balance, travel insurance, income tax obligations, legal situation, health, and medical status.
Does lack of funds lead to visa rejection

How to overcome visa refusal?

By supplying further evidence in support of one’s eligibility, a visa applicant can overcome a refusal.

If your application is denied, you will often receive a letter outlining all of the reasons why, so you can learn from your mistakes and be more cautious the next time you apply.

The same visa may be reapplied for after a predetermined amount of time.


Undoubtedly, applying for a visa is a very busy and demanding process. The least you can do to avoid having your visa application rejected is to double-check that you complete everything correctly and follow all the guidelines carefully.

Even though you can reapply, the aim should be to clear the process in one go as it becomes tougher to get a visa after a rejection.

However, using a firm or expert to help you with your application is a wise choice but try to remain vigilant and proactive in the process!

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