How To: Prove your financial capacity with Mist Proof of Funds

Mist has partnered up with Cache, an Australian Financial Services Organisation to help you begin your Academic Journey to Australia. Mist 'Proof of Funds' service provides a simple solution that simplifies the process for students and institutions. By allowing you to upload your funds to qualify for an Australian Student Visa. 

1.  Verifying your identity by scanning your passport.
2. Providing your personal information for identification purposes.
3. Receiving transfer instructions from Mist.
4. Contributing your funds.
5. Receiving 'Proof of Funds financial capacity statement' Documents to support your Visa application.

The amount that is required varies depending on a number of factors (course, studies etc). The minimum requirement for 12 months is AUD$29,710, but it is up to you to ensure that you contribute an amount that is relevant to you.

Why Proof of Funds helps Students and Institutions.

This service benefits the International Education Sector and the Australian Government in several ways, these include:

Student - Proof of funds documentation for their Visa application

• Applicant letter of financial support
• Letter of financial support from Australian financial services licensee
• Statement of funds held in Australian Assets

Government - clear evidence that funds are held in students name in Australia

• Funds available on arrival in Australia (subject to applicable lock in periods)

Accommodation - funds to cover accommodation expenses

• Provide assurance to providers and to Government in Visa process