How Much Money Do I Need to Show in the Bank for a Spain Visa? Updated Guide for Students, Erasmus and Internships

Anıl GOKTAS
5 days ago
4 min read

Financial Sufficiency in Spanish Student, Erasmus, and Internship Visa Applications

Undoubtedly, the issue that confuses candidates the most in Spain student, Erasmus, and internship visa applications is financial sufficiency. You may see hundreds of students struggling with problems right now; you might find someone saying "€600 per month is enough," another insisting "you must show at least €1,200," and some saying "I got it with a sponsor without showing any money at all." So, who is right?

The truth is, there is no single "magic number." The bank balance is evaluated holistically according to the type of application, the duration of stay, the city of destination, and the accommodation status. In this article, we set aside urban legends and clarify the consulate's math.

1. How Does the Consulate Look at the Bank Account?

When examining your bank account, the Spanish Consulate does not just look at the final figure. Officers evaluate the following criteria as a whole:

Duration of Stay: There is a significant difference in the amount required between 3 months and 9 months.
Visa Type: The requirements for an Erasmus visa and a language school visa are different.
Accommodation Status: Have you paid the dormitory fee, or will you rent when you arrive?
Source of Income: Does the money come in regularly, or was it deposited suddenly?
Sponsor or Grant: Do you have a financial supporter behind you? For this reason, an amount that is valid for someone else may be insufficient in your scenario.

2. What is the General Logic for a Student Visa? (IPREM Index)

The Spanish state basically wants to ensure this: "Can this student support themselves during their stay in my country without becoming a burden on the state?" Official calculations are generally made based on the monthly minimum subsistence index (IPREM) in Spain. The items taken into account in general practice are:

Monthly living expenses (Food, drink, transportation).
Monthly accommodation cost.
Duration of education.Example Scenario: You are applying for a 6-month student visa, your accommodation is not yet paid, and you are going to a big city like Madrid. In this case, the amount you need to show in the bank should be much higher than a student whose accommodation is paid and who is going to a small city.

3. Is the Situation Different for Erasmus Students?

Erasmus students are one step ahead financially because they receive a European Union grant, but there are points to be considered.

A) If the Grant Letter has Arrived

The grant letter (Grant Agreement/Confirmation) must be added to the file with a wet signature or e-signature.
The total amount of the grant and the monthly payment plan should be clearly visible.
⚠️ Attention: If the grant amount remains below the monthly minimum subsistence amount set by Spain (which it usually does), it is necessary to provide an additional bank balance or family sponsorship to complete the difference.

B) If the Grant Has Not Been Deposited Yet This is the biggest stress for students. An application can be made before the grant is deposited. However, the following are required:

Erasmus acceptance document.
An official letter from the school or National Agency confirming the grant amount.
A personal or sponsor bank balance that will support you until the grant arrives.Important: It is not enough to just say "I will receive a grant" verbally; an official document is mandatory.

4. When Should the Bank Statement Be Obtained?

This is the most common procedural error. A statement you received 1 month before your application may be considered invalid.

✅ The statement must be obtained within the last 5 to 7 days prior to the appointment date.
✅ It must be signed and stamped by the bank, and the authorized signature list must be attached.
✅ The account can be in Euro or TL; what matters is that the equivalent is sufficient.

5. Will a Large Sum of Money Entering the Account at the Last Minute Be a Problem?

Short answer: Yes, it can be. If there has been no movement in your account for months and a large amount of money enters 2 days before the application, the consulate asks: "What is the source of this money?" (Was it borrowed? Is it just for show?) This situation may fall into the "suspicious transaction" category and be a reason for rejection. Solution: If you are going to deposit a lump sum, you must explain the source of this (e.g., father's support, vehicle sale, savings transfer) with documents and a petition.

6. Things to Consider in Sponsored Applications

Since students usually do not have their own regular income, the Mother or Father usually becomes the sponsor (it is preferred that they be a first-degree relative).Must-haves in the Sponsor File:

Notarized Sponsorship Commitment.
The sponsor's bank statements for the last 3 months.
The sponsor's income documents (Pay slips, retirement document, etc.).
Identity register copy (To prove the kinship bond).Tip: Even if you have a sponsor, showing a small amount of money (e.g., first week's pocket money) in your own personal account provides confidence.

7. How Does the Choice of City Affect the Budget?

Not every city in Spain has the same cost of living. The consulate knows this and evaluates accordingly.

🏙️ Barcelona & Madrid: Rents and life are expensive. The expected guarantee is higher.
🏘️ Granada, Salamanca, Valladolid: Living costs are more affordable. The evaluation may be a bit more flexible.

8. The 7 Most Common Mistakes Regarding Banking and Finance

The basic mistakes made on the road to visa rejection are:

Obtaining the bank statement too long before the appointment.
Making sudden money entries whose source cannot be explained.
Submitting sponsor documents (signature circulars, etc.) incompletely.
Not adding the grant letter to the file, thinking "it's probably in the system anyway."
Showing only enough money for pocket money, without taking accommodation costs into account.
Hiding account movements (obtaining only the final balance letter).
Blindly trusting the saying "X Euro is enough."

A Personalized Plan is a Must The issue of the bank account in a Spanish visa is not just a matter of a number; it is a matter of trust. It is the most critical part of the application file. Even if all your other documents (school acceptance, insurance, etc.) are complete, a poorly constructed financial file can cause a visa rejection. For this reason, you should make your financial plan at least 2-3 weeks before the application and prepare your documents accordingly.

💬 What is your situation? Where do you get stuck the most in this process?

💰 Balancing the bank account?
📝 Collecting sponsor documents?
🎓 Or is it that the Erasmus grant has still not been deposited? Share your situation below, let's brainstorm together!

🚀 Get Professional Support If you say, "I don't want to take risks, I want to make my calculations right and apply," you can contact me for personalized financial planning and file control support for the Spanish visa.