Calculate PROOF OF FUNDS | DIFFERENT WAYS TO SHOW FINANCIAL CAPACITY FOR INT'L STUDENTS IN AUSTRALIA

Hey my loves, welcome back to another power packed, insightful video, today I will be discussing the different ways to show proof of funds if you plan on coming to study in Australia, I will be breaking down the figures to the last kobo you might need.
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Here are some of the links mentioned in this video
PROOF OF FUNDS ON OFFICIAL HOME AFFAIRS WEBSITE
Once you get on the website, next to step 2 where it says GATHER DOCS- Click on show steps and you would see the breakdown of financial capacity.
immi.homeaffairs.gov.au/visas...
DOCUMENT CHECKLIST
immi.homeaffairs.gov.au/visas...
VISA PRICING ESTIMATOR
immi.homeaffairs.gov.au/visas...
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[@samuelobatola861]

Nice content, thanks for blazing the trail on such important issues. I know Uk embassy uses oanda exchange rate, you are using parallel market rate I guess. Not sure the embassies uses that, as I believe they recognize the official CBN/bank rates. Paying for services online today using Mastercard, the rate was 356 naira to 1 AUD.

[@ololadeogunyinka4742]

Thank you 🙏🙏 Oh ok...yeah I used the regular conversation rate....well if the embassies are using the CBN rate, then that's good coz it cuts the amount down by a lot then....thank you for pointing this out👌🙂

[@samuelobatola861]

@@ololadeogunyinka4742 you welcome ma'am. Keep up the good work.

[@AliceAnthony]

Beautiful views thanks for sharing sis

[@ogomsseries]

Thanks for this basic information cos it’s well detailed too🤝🤝🤝

[@jorammutai8014]

💪i like the way you brake it down and handling real issues. Thanks

[@ololadeogunyinka4742]

Thank you so much! Really appreciate that you found this helpful! 🙂 you are most welcome 😀

[@Naijamuminaustralia]

Interesting video 👍👍

[@OursharedtalesTV]

Nice and detailed video. The cost can be overwhelming, I know someone currently struggling with getting a loan to cover the expenses.

[@ololadeogunyinka4742]

Thanks dear! 🙂 as in ehn...it's crazy how expensive it can be!😥 I pray they find a way to sort this out 🙏🙂

[@Hopefulhope544]

Nice content, I am a new subscriber and this information is coming at the right time. Am currently planning on relocating to Australia through the student route and also coming with my husband only as a dependent, so my question is if am opportuned to get a loan from the micro finance bank where I work, am I putting it in my account as the main applicant or I need to putting it in an uncle account who will stand as the sponsor and do I need to leave the money for three months before the visa application time as advised. Thank you

[@ololadeogunyinka4742]

@hopefulliving Thank you...yay,welcome 💃 I am sure you will love it here. Ok,that's good...I would say it's better to have the money in your own bank account especially as you also work at that bank....like I mentioned in the video it's advisable that the money just doesn't appear suddenly in your bank account...it's better if there is some level of consistency over a couple of months...I hope that answers your questions. Kindly do your research too as I am not a migration agent 🙏

[@nanaoseibonsu3798]

The $3000 funding for the trip amount is just a guide. You don't need to prove you have funds for your trip. You only proof funds for your fees and living expenses in Australia. Also, the $60 k should be the annual income of your parents. You don't actually need to provide bank statement of such amount.

[@ololadeogunyinka4742]

Thanks for sharing 👌

[@nanaoseibonsu3798]

@@ololadeogunyinka4742 welcome. Keep the amazing work. We will link up soon for me to share my experience via zoom

[@Art_therappy]

@@nanaoseibonsu3798 how can I reach out to the you please .. I need you to guide me with my process

[@theajaoalimat]

Thank you so much. This is the best video I have watched on POF for Australian study visa.💃 My question is if I want to sponsor myself, will the Embassy be interested in knowing where I got my proof of funds from or not? Secondly, if my husband will not be following me to Australia immediately, i.e, he will apply to join me later, will I need to show his living expenses of 7,362AUD and travelling expenses of 3000AUD at the point of my own Visa application? I hope you see this❤️

[@ololadeogunyinka4742]

So sorry I am just seeing this @theajaoalimat thank you...much appreciated, I believe if there has been consistent transaction in your account for a few months before application there shouldn't be a problem. I believe if your husband is coming later then you only need to show your own proof of funds as at when you want to come in. I hope this answers your questions. 🙏

[@theajaoalimat]

@@ololadeogunyinka4742 Thank you sis

[@frankyokafor9282]

hi there, what if you have these money in different accounts lik 2 or 3 bank accounts of yours. can 2/3 different banks statements be submitted or do i need to move the whole money into 1 account?

[@ololadeogunyinka4742]

Hi, I believe 2-3 bank accounts is still fine, you can download your bank statements and combine them as 1 pdf file before submitting it.

[@chifum]

What about your company (employer) sponsoring your master’s degree program, how much is expected to be in the bank statement ?

[@ololadeogunyinka4742]

You would have to do the calculations based on what expenses they are covering and what they are not covering...I can give you a specific amount based on that.

[@thae9116]

Hi Olo Thanks for the informative video. Do you know of someone who was requested to show proof of finances using bank statements despite being offered a full scholarship by the university.?

[@ololadeogunyinka4742]

Hu Thae, you can call me Lola You are most welcome, unfortunately no, I would think the schorlaship evidence would be enough, do u know if it is a full scholarship or a partial one?

[@thae9116]

Thanks Lola for the reply.

[@ololadeogunyinka4742]

@thae My absolute please, all the best🙂

[@ryushinosuke9912]

hi, does this apply to the new rule? cheers

[@omeziokechukwu2468]

Thank you for your teaching. Can one with HND apply for master program? I mean direct master program not pre master program?

[@ololadeogunyinka4742]

You are welcome. I can’t say for sure unfortunately, you would have to check with the school you are hoping to apply for to see what they accept.

[@omeziokechukwu2468]

Alright thanks

[@omeziokechukwu2468]

Alright thanks

[@EliteFootball441]

I think the 62k is income not amount sitting in their account of parent.

[@jemimahjohn]

Please how do we get the Austrailain dollars or make the transcation. The rate online today is 280 naira to an Australian dollar.

[@ololadeogunyinka4742]

Hi @jemimahjohn where are you based? I am not really sure where you can get Australian dollars, re u travelling to Australia soon? Wow 280 naira sounds small though

[@micboy5335]

I have renter houses that bring me income as well . Please advice me if this can be used as proof of funds along with my bank statement . The bank statement can show sufficient amount to pay the first semester tuition and will they accept the land title deed and evidence of my renter houses too as proof of funds

[@ololadeogunyinka4742]

Hi, ok that is good...I can't say for sure but I would think that counts as something, I will find out more and let you know.😊

[@micboy5335]

@@ololadeogunyinka4742 Thank you Ololade . I will appreciate

[@adesuaandrey6600]

Hi How much is the exchange rate you using for this calculation

[@ololadeogunyinka4742]

Hi, I used 416 naira to 1 Australian dollars.....but definitely chk what the current rate is as it fluctuates a lot.

[@younggilbert9084]

Hey, isn't the first one incorrect? if your parent sponsors you, i though the 62K was annual peronsal income and not funds.

[@ololadeogunyinka4742]

Hi @younggilbert kindly chk the link in the description box to confirm your question.

[@taribichristopher9138]

Is Germany that does that

[@ruthuzoma7722]

What if you are here already and wants to go into a fresh course but your partner is still in oversea. Please how much do you need here in Australia and how much do your sponsor(brother, here in Australia ,PR) and your spouse (overseas) needs as you will be putting him as dependant.

[@ololadeogunyinka4742]

I can't answer your questions unfortunately as I am not a migration agent, maybe check the link I put in the description box of this video and also check online or talk to a migration agent as they would have more information about your questions.

[@abdullateefbello844]

Please do you also require tax clearance for individual sponsor?

[@ololadeogunyinka4742]

@abdullateebello when you say tax clearance, how do you mean....not sure I get your question 🤔

[@aimansaeed9242]

How old should be the bank statement with the funds ?

[@ololadeogunyinka4742]

At the time of application for Visa ideally about 3 months.

[@chetuyaogechukwu9007]

Hi. Can one use treasury bills to show proof of funds?

[@ololadeogunyinka4742]

Hi, I can't say for sure...you can confirm with immigration or the visa body.

[@chetuyaogechukwu9007]

Thank you my school told me they don't accept investments documents. So I'm thinking about liquidating the treasury bills will immigration flag the huge amount even if I provide evidence of the source or should I defer and allow it reach 3months?

[@Peenike]

Please, are you saying that if your parents are sponsoring you that you have to present tax assessment instead of statement of account.

[@ololadeogunyinka4742]

Hi, from memory, that what I remember but you can definitely have a look on the website to be sure. I believe u linked it in the description of the video.😊

[@jimohmotunrayo6756]

It's a lot even as a single person God where can I get this kind from money...🤔😥😥😥😥😥😥😥😥

[@ololadeogunyinka4742]

I know oo,🥺🥺 but I heard the exchange rate used for calculating Is CBN rate, but u can double check for sure.😊

[@stepheniheme813]

Can I use microfinance bank

[@ololadeogunyinka4742]

@stepheniheme I am not sure 100%, you can try to find out they might be willing to loan you the money

[@marysimon4483]

Can I migrate with the person sponsoring me?

[@ololadeogunyinka4742]

Absolutely

[@olaoluwabamigboye5661]

😮Hi can I use my parents landed properties as proof of funds?

[@ololadeogunyinka4742]

@olaoluwabamigboye I can't say for sure as it is not your property, If tour parents were sponsoring you then that might work.

[@olaoluwabamigboye5661]

@@ololadeogunyinka4742 Thanks so much. It my mother that want to sponsor me.

[@ololadeogunyinka4742]

@olaoluwabamigboye I believe that should be fine 🙂 and you are most welcome 🙂

[@keziaheluwa1350]

Can my spouse sponsor me while he travels with me?

[@ololadeogunyinka4742]

I believe so 🙂

[@MarinaCBarthelot]

Can a boy friend living in Ausi sponsor for his girlfriend overseas

[@ololadeogunyinka4742]

I am not so sure, maybe check the immigration website 😌

[@taribichristopher9138]

That is not true about Canada.

[@oghoghotobore8255]

Oluwa ooooo, it's quite expensive

[@ololadeogunyinka4742]

As in ehn 🤣🤣😥🙆‍♂️

[@oghoghotobore8255]

@@ololadeogunyinka4742 🤣🤣🤣🤣i had to scream because we are family of 5 😭😭😭😭

[@ololadeogunyinka4742]

@oghoghotobore Oh boy eh😔😔 God will provide. I heard someone mention that the exchange rate they accept is the CBN rate and not the black market one, which would make it a bit cheaper I believe, but you can check and also confirm.