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My name is Chandoo. I am an entrepreneur based in India. I run my own Microsoft Excel based business. Visit to learn more about my business.. In this site, You can follow my journey as a start-up owner and learn from my successes and failures.

So it is advisable to mention in the cover letter that my expense will partly sponsored by step-father, and partly by me and also mentioning that i will be using my step fathers credit card and submitting bank statement, itr of both? Oh Dear, yours is a complicated case. A competent essay demonstrates you are capable of doing the task that was established. Does it usually take this long to issue visa or to report if there is any discrepancy? Or is there another way of speeding things up?

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Citigroup Inc. or Citi (stylized as citi) is an American multinational investment bank and financial services corporation headquartered in New York company was formed by the merger of banking giant Citicorp and financial conglomerate Travelers Group in ; however, Travelers was spun off from the company in Citigroup now owns Citicorp, the holding company for Citibank, as well.

While all of us had already got the Visa approved only theirs was pending. Things to know in a Visa interview would be obvious i. Travel dates and countries to be visited. Rest, I think is good to answer what we know of. When he told them of her demise and also mentioned that we are a family of 12 applying for visa and the rest 10 people have got their visa approved, they were content with his answer and told that my brother, who was to go next for the interview, need not attend the interview as they have already got the answer to their questions.

For Germany, I have an invitation letter from my relative. Do I have mention the address details of Germany in visa application form? Thanks a lot for your guidance. Very insightful blog, clearly explained the entire process. I have applied for schengen visa to the embassy of Italy as my port of entry is Bologna and maximum stay too is in Italy 9 out of 16 days in Italy and rest in Germany.

I have submitted application on 2nd August and got my visa on 11th August travel date is 16th Sep. One can easily do the entire process by self with the help of such blogs. A big thanks to Ashwini Neetan. Now I am required to travel to Paris for an exhibition from 8th Sep to 12th Sep.

Will it be alright to apply for 7 days tourist visa for visiting Paris. Can we obtain 2 schengen visas in such short durations? I think you can. But clearly mention in your cover letter that when you applied for the earlier Schengen for travel from 12th Sept, you had no idea that you are supposed to be there at the exhibition and hence applying for short term tourist visa again for the duration of 7 days.

I think you need to apply from France and France has a history of approving visas in one day. So this is our first time applying for a Shengen visa. We submitted all our documents and got our bitometrics done at VFS Bangalore. We are a family of 8 travelling. But, our family was informed that we have to go to Delhi for the interview. Please let me know what we should carry with us for this interview. My father too was called for an interview while we all had got our Visas approved for the same trip, same itinerary and same dates.

We made him familiar with the itinerary, the countries we are going to and why we chose to apply to that embassy. He was asked those questions, additionally, he mentioned that his fellow travelers i.

They were convinced and he got his Visa too. So be clear with the itinerary is what I would suggest. Hi Ashwini, My husband and I are planning a 2 week trip to Italy in October alongwith our 7 yr old twins.

Your site is has a wealth of information for us especially since we too plan to hire a car. I have done my bookings through Airbnb and currently working on getting the visa documents together.

I am confused about the travel insurance. The VFS site mentions euros 30, per person so that comes to 1,20, euros cover for us right? Or am I getting it wrong? Calculate it per person and get a separate insurance document for each person with the required sum assured. You need insurance for each person individually. So, for each person, the sum assured should be around 30, Euro. Thanks so much Ashwini. My husband is an I. Now I have no idea what to do, since the documents list says that in case of self employed these two things are required.

I have already written to them to seek clarification but no reply as yet. Do you have any idea? Hi Ashwini, Yes he is a freelance consultant. Thanks for your reply. Hi Ashwini, I have my visa appointment day after today. As per the checklist we need to provide proof of internal travel within the Schengen territory.

Now I am travelling only in Italy and plan to hire a car as you did. But I shall be doing that if the visa comes through. Did you prebook your car before applying for the visa and did you have to provide the car rental details?

Or does it apply only to travel within different schengen countries? Im extremely sorry for the late reply Trupti. I guess you would have finished your Visa appointment for now. Anyways let me address your query so that other travellers can benefit from this question. This is a very good question I must say. Unlike flight tickets, some car rentals have free cancelation and no prepayment like sixt.

We must make use of those to show our car rental bookings and cancel that once visa comes through and book the cost effective ones which works out well for us. Hi Trupti, I was concerned about the same thing, but the 50, dollar or , dollar on all bank websites are per person. Hi, I have a query. I applied for my Student Visa on 10th July. For accommodation, i booked a hotel in bologna which offers free cancellation but requires a little pre-payment.

When asked by the hotel, i told them that i cannot pay right now since i am travelling. I was worried if they would cancel my booking as the visa is still in the process. Does the visa officers check with the hotel? If the booking gets cancelled and visa officers found it, what will happen? To be on a safer side, its always good to hold the bookings until the visa is approved.

I am traveling with my wife to Europe where my entry country is Italy. My current bank balance is 2. I have provided three sale deeds in my name. Also my credit card limit is 3. I can show an increase in my bank balance by another 1.

So will this cause any problem in me getting the visa? That would not be a problem. Just make sure that you take a print out of Bank statement after the money has been deposited.

Hi, I have a doubt regarding the accommodation details to be mentioned in the visa form. I will be making bookings in multiple hotels via booking.

Since the space on the form is very limited, how should I go about mentioning them in the visa form? My point of entry is Netherlands. Should I mention the first hotel booking from Netherlands or the first one in Italy? Or is there some standard way of doing this? Since there are multiple, which address and phone number should I provide? Here, though the port of entry matters — you should really be concentrating on the fact that — where are you going to stay for maximum number of days?

After determining that, provide print outs of all hotel stays and mention just one hotel in the address of sponsor column. Leave the place empty and ask the teller at VFS office about the same and they should be able to guide you well! Hi, I have submitted the documents at vfs-Italy in Mumbai. But I later found out that three of the original documents are missing. What should I do? I am trying for a tourist visa and one of the sponsorship document is missing. Please reply as soon as possible.

Sorry for the late reply Jasil. I have been travelling and got sometime with my blog now. I think, if any documents are missing, then they will get back to you asking for the same — so, do not worry. So, my question is,. Weather, can I approach VFS with the appointment letter of September 01 and request for earlier dates from August 20 to 25through the option called premium Longe for my Visa interview?

I have a bank balance certificate and statement for last five months with the total amount of 7,48, rs and I took this certificate on August I just want to know how many days does this bank balance certificate is valied before my visa interview?

Am I supposed to not do any transaction even small online shopping with the particular amount for which I took bank balance certificate till I receive my Visa? Is that enough for getting a schengen Student Visa? Should I have a confirmed flight ticket before I request VFS for a rescheduled date through premium longue or can I show a blocked flight ticket to them?

Sorry for the late answer Yeshwanth. I was travelling and did not have access to my blog. I know your Visa appointment date has crossed and you also have an approved visa now. But, I shall answer the question for the benefit of others, who might have the same question as yours. You can definitely do so.

They will accommodate if they have slots. We too did the same for our Italy trip. Recent balance statement is what they have mentioned. So for an appointment for Sept 1, statement taken on at least later than Aug 20 will be good I guess.

Blocked flight ticket with clearly mentioning the date of travel will suffice. Hi, Awesome article, very informative!! I am in a bit of a state of panic as of now. I applied for a tourist schengen visa to Italy on July and my travel date is 2-September. No updates from VFS except that my passport has been sent to the consulate. I have emailed the consulate requesting them to expedite the process, however no response from them either.

Do you suggest I personally go to the consulate? Or is there another way of speeding things up? Or should I sit tight and hope I get the visa just in time for my travel? Hey Ann, You applied on July 24 and today is Aug 19 — so almost 22 working days. I suggest that you call the Consulate around This method has helped me prepone interview date for my father which was scheduled on the day before our travel. Hope all goes well. Hi Ann Did you receive your visa?

Even I have the same issue, I applied for my visa on 21st of July and status is under process. I need to get visa to go to Italy as soon as possible.

Will my application be accepted if I schedule an appointment for Kolkata Centre? Please note that visa applications cannot be processed from applicants including Indian nationals not permanently residing in India. Thank you for this wonderful blog. Really helped me alot. Total duration would be 16 days.

Will be traveling solo. Question 1 — are hostel accommodations considered by Visa Consulate? Question 2- Also I would be doing various intercity travels either by bus or by train. So do I need to show those tickets as well while applying for visa?

Because most of the tickets are non refundable. If visa gets rejected I would lose lot of money. Question 3 — I do not use a credit card. I have a salary account where I can show a balance of approx 1.

Will it be sufficient for a 17 days trip. Yes, just provide them the copy of booking clearly showing the booking dates. Please check that with VFS before taking a call on that. As a rule of thumb and good practice, please mention how you plan to travel to each city in the brief itinerary you put in the cover letter. Check this link for more details. Forex should be good enough.

Please clarify it with VFS on their customer care. Such a nice and helpful article i am happy to reach you and after ready your article i share this on my social media accounts. I have a specific query on the Schengen Visa process.

I am currently on deputation to Ukraine for 1 year on Temporary Residence Permit and I do not have a source of Income and bank statements in Ukraine. I wanted to apply for Schengen Visa in India where I have all the documents.

One more query is that can I show Ukraine as my destination country and have confirmed tickets to Ukraine instead of India. Please call VFS helpline. They are the best guys to answer your queries. Thank you for the reply. I am going through with the application. I would like to know that whether I need individual Covering Letters or one letter mentioning all the family members name will do. You can mention your family members name on the cover letter and they might have to sign it in the end.

So one cover letter would do for the family. No need to mention the country name I think. I have a few quick questions: I noticed that the Application form that you have attached here is in Italian I mean the field questions. On the website while filling the form we get an option of filling it in English, we can opt for that right? Also just to confirm, we do not need to get any of our documents including the application form translated to Italian, right?

Can we avail the option of blocking the air tickets instead of actually booking the tickets. This is to be safe in worst case scenario — if the visa gets rejected. What do you think? Yes, there is no need to translate anything to Italian. I think I had mentioned about that in the post too. And about blocking the tickets, I think that will work too. But call VFS helpline and confirm it once.

We me nd my husband are planning a trip to eastern europe this dec I heard it is compulsory to submit a cover letter for applying schengen visa. A Cover Letter is mandatory for Schengen Visa application. Read more about how to write a cover letter here: She will not be working when we will be traveling to Italy. So, the leave certificate cannot be provided by the company. What is the alternate option? Will a resignation acceptance letter stating her last working day work?

In that case, show that your wife is dependent on you and show your bank account details only. Also, have enough money in your account to support both of you. Another option is to mention the same reason clearly in the Covering Letter and attach the resignation acceptance letter as you have mentioned and hope that they will understand your case.

Again, this is my opinion. I suggest that you call VFS Helpline and put in your case there, they are the best people to answer your question. Kindly provide me information about the ways to submit the pending documents and also the ways to confirm the submission of the pending documents.

If the consulate feels that the documentation is insufficient or some are pending, then they would intimate you via a call or through your application status in VFS website. Then you can visit the VFS office where you applied for visa and submit it there. If you have any queries, please call the VFS customer care. Hello, I am travelling to Europe for 12 days. My Max days of stay will be Italy.

SO I m applying my visa to Italy consulate. My issue is 1 I m getting married on feb and travelling in March. My fiance has just quit her job and she stays in assam and she took appointment for Kolkata vfs. I am separately applying in vfs bangalore centre as I m working in banglore.

Secondly we have booked tickets together so mostly in flight tickets both of us name is there but in hotel booking only single name is there either hers or mine. Will that be a issue. Or shd we apply for visa together?? Not sure of this as my husband and I have always applied together. Can you call VFS and get this clarified please.

I have a lot of family members not direct family in Italy Rome ,Milan , Savona. If someone sponsor me to come to Italy will it be easy to get visa? Show your tax payments, good bank balance and you are good to go. And invitation letter method also would work. Your Visa Application Ref no. What does it mean? Have the visa been processed? Yes, it means that your VISA application has been processed. You need to check it when your passport arrives home.

Me and my fiance have applied for the schengen visa. We will be going in end of feb for our honeymoon and this will be our first international visit. Ive shown that ill be sponsoring my fiance. Ive shown statements for two of my accounts with amount of 1. We have done all the bookings for hotels and flights and submitted those papers as well. I am planning to travel to Italy this summer.

However I have been told by my friends to apply for a Paris Visa instead. I want my first port of entry to be Milan IT. I intend to be in Italy for 11 days and spend 2 days in Paris. I will be applying from Bangalore and I have heard a lot of stories aabout how difficult it is to get a ITALY Tourist visa- takes soo much time, they refuse without reason.

I am kind of clueless. I will be travelling to London and then traveling to Milan. How do I go about it. I intend to apply for my UK visa in march 1st week. UK tourist visa ususlly takes 3 weeks at the max and I intend to apply for Italy visa by april 4th.

I want to fly to italy in june. Now another alternative is applying through Thomas cook. Italian embassy has that reputation. But its totally- upto you to decide it. I recently had a reader whose visa was rejected even though she applied through a travel agent. Write a solid and convincing Cover Letter and submit all the required documents.

Check this post to know how to craft a good cover letter: Also, I do not think it is required for you to travel to UK and then to Italy. And by the time we booked, we got an option of Qatar for the same price, so we went with it. Hey Pallavi, so what did you finally do? I am in a similar boat.. I am travelling only to Italy , but my friends are recommending to apply for a France visa, to avoid any heartburn. Thanks a ton for the detailed description but my experience with Italy is very very painful.

I was to go on a business trip to Italy and my wife was to join me after a few weeks. My visa reached me two days before the travel and my wife who had applied along with me never got her visa back. We had to cancel all the tickets and incur a huge loss.

Point is — if you want to visit Schengen countries and if unfortunately, Italy is part of the program — just tweak the program and apply in some other country.

There is no mechanism to get a redressal. There is no refusal and the date to travel is past. Shame is all I can think of. I echo your sentiments Cheema. These decisions are taken by folks in embassy and we cannot do anything but to be a silent spectator.

My husband and I want to travel to Italy during this break. What are my options to demonstrate to the visa officials that I intend to return to my home country? As of now you are unemployed.

So say that your husband is supporting expenses of both — You and him. Show them his bank details and make sure it has sufficient amount to support both of you. This way, you need not disclose your current work status nor show leave letter and bank details. Hi kindly let me know whether booking done on booking. I having done booking with free cancellations and no prepayments do they accept or do we need to show them fully paid accommodation as I am planning to do payment after I get visa.

They accept such bookings. Infact, all our bookings were of free cancellations and no prepayments! Hi Ashwini, I will be applying for Schengen Visa for the first time for visit to Italy and other neighbouring schengen countries along with my family and I would be applying at the VFS kolkata office being a resident of Tripura state. I have some doubts in my mind about a few things which are as follows: To whom the covering letter should be addressed.

My son will also accompany me in this trip and so I will need a NOC from the Principal of the school where my son studies. In this case to whom should the Principal address while issuing the NOC. Should I buy actual return air tickets now or present only flight itenerary as proof of to and fro journey for visa application. It would be cheaper to buy actual flight tickets in advance, rather than to wait for the Visa to be issued but then it has its own risk if my Visa application is rejected.

I hope you will clear my doubts as pointed above. Thank you in advance. Consulate general of Italy 2. To whomsoever it may concern. Actual tickets should be booked. Hi I am applying for Schengen Visa from Delhi and i went across a column no 31 which states your accomodation details.

I dont want my application to be rejected based on just airbnb bookings and applications there. Please help and tell me how to fill it in the form to avoid the rejection.

Fill the name and address of the accommodation where you are staying on the first day. Such a comprehensive description. I also had doubt about the amount of bank balanceNow this is solved. Thank you so much.

For Dubai, please confirm it with Dubai embassy. We got it done through United India Insurance. Everything was done through call to his office personnel. Hiiiiiii, i ahve some more questions. Kindly try to answer them. My wife is home maker. Can we submit notarized affidavit instead of certificate. Does it make any difference???????

Hi Ashwini, Thank you so much for this post. It has been a life saver. I am scheduled to travel in the last week of March. I am horribly late in submitting my application as it was a sudden plan, the only appointment available is May. Try VFS lounge services, they will have nearest appointment dates 2. Cash n card is accepted. Hi, Where do I find the visa form? Do I take the interview appointment before submitting the visa form? I will be doing it from Delhi.

I am planning a honeymoon trip in May getting married in April. Although my wife-to-be is employed, her salary is not enough to maintain the prerequisite balance.

Nor is she getting her leave approval because of cunning manager and endless company processes. I wanted not to reveal them that she is employed because of these issues. I can give a covering letter stating that I will be sponsoring her expenses too. What should I do to get the visa? About you sponsoring the trip, it is fine. But regarding the place to apply visa, I too am not sure. Can you call VFS office and clarify?

Hi Ashwini, thanks for sharing your experiences. I was particularly relieved when I saw there is a premium service for late planners like me. So the questions are: Should I go ahead and book this slot online right away today being a Saturday or call their helpline on Monday asking for the premium option? Is their any online booking option for the premium service? Is it mandatory to visit the VFS centre in person for the premium service?

Do I need to have already booked a normal appointment online before I do so which in my case would be 9th April? Will a visit to Mumbai be required for some biometric information that has been mentioned in some news link for travellers post ? Thanks in advance for your reposnses. Go for Premium service. We went to office and were told to come on a certain date for Premium. Bio metrics data will be taken in the VFS office only.

Hi Guys, Thank you so much for a detailed post, that we havent found anywhere else. Just a quick question. My husband and i are traveling to Italy and only Italy for our honeymoon, we didnt do our research and have booked our itinerary before getting an appointment. We are leaving on 18th May, but the prolem is that my job requires me to travel a lot, and i have traveling to Nepal on 16th April until the 20th and then again to Philippines from 7th May until the 11th.

Which means if i apply for visa in between, best case scenario i will have 10 working days in hand. Do you think that enough time?

ALso i have 3 UK visas and 1 Schengen visa that i applied for the the last 5 years. Do you think thats enough. Is your Schengen valid for the dates you travel? But your husband should. And let him mention in the cover letter about the purpose of travel i. Say your answer is No, then please apply the Visa asap.

Booking itinerary before appointment is fine, but goto the VFS website and try booking the immediate available appointment slot. Hi Ashwini, thank you so so much for this post, really helped me alot.

I will be applying for tourist visa for my Italy trip in July for my first time. What should I do with them? Mention in cover letter that you are traveling with your cousin and hence bookings are in his name and provide a copy of the bookings. My daughter has travelled to Slovenia on Schengen visa when she was 4 yrs in and didnt need biometrics. Now we are travelling to Italy and she is 6 yrs old.

Will she need to go for the inteview in person. Yes, she needs to be present in person on Visa appointment day. My son was 3 when he traveled to Europe. Mr QH Sep 27, Guessing its going to be short of expectation if they are planning on releasing it after the asian markets close.. Late figures from China, Yet again. No doubt the extended time is gone into the doctoring of it.

Jeongmin Cho Jul 24, 1: Muhammad Sajjad Hussain Feb 01, 5: Michele Cesa Bianchi Jan 22, 7: Michael Rosewarne Jan 22, 7: But you'd be crazy to buy AUD right now. Christofer Svensson Jan 22, 7: Guillermo Beltran Leyva Jan 22, 7: Robby Pandher Jan 22, 7: Nov 02, 9: I think the Chinese are faking these numbers it hasn't changed in 6 months.

Add Chart to Comment. I feel that this comment is: Your report has been sent to our moderators for review. Economic Calendar's Live Chat. Sign up for FREE and get: You can close your position at any time before expiry to lock in a profit or a reduce a loss compared to letting it expire out of the money.

In the online binary options industry, where the contracts are sold by a broker to a customer in an OTC manner, a different option pricing model is used. Brokers sell binary options at a fixed price e. Some brokers, also offer a sort of out-of-money reward to a losing customer. On non-regulated platforms, client money is not necessarily kept in a trust account, as required by government financial regulation , and transactions are not monitored by third parties in order to ensure fair play.

Binary options are often considered a form of gambling rather than investment because of their negative cumulative payout the brokers have an edge over the investor and because they are advertised as requiring little or no knowledge of the markets.

Gordon Pape , writing in Forbes. Pape observed that binary options are poor from a gambling standpoint as well because of the excessive "house edge". Let's say you make 1, "trades" and win of them.

In other words, you must win Commodity Futures Trading Commission warns that "some binary options Internet-based trading platforms may overstate the average return on investment by advertising a higher average return on investment than a customer should expect given the payout structure. In the Black—Scholes model , the price of the option can be found by the formulas below. This pays out one unit of cash if the spot is above the strike at maturity.

Its value now is given by. This pays out one unit of cash if the spot is below the strike at maturity. This pays out one unit of asset if the spot is above the strike at maturity. This pays out one unit of asset if the spot is below the strike at maturity. The price of a cash-or-nothing American binary put resp. The above follows immediately from expressions for the Laplace transform of the distribution of the conditional first passage time of Brownian motion to a particular level.

Similarly, paying out 1 unit of the foreign currency if the spot at maturity is above or below the strike is exactly like an asset-or nothing call and put respectively. The Black—Scholes model relies on symmetry of distribution and ignores the skewness of the distribution of the asset. The skew matters because it affects the binary considerably more than the regular options. A binary call option is, at long expirations, similar to a tight call spread using two vanilla options.

Thus, the value of a binary call is the negative of the derivative of the price of a vanilla call with respect to strike price:. Skew is typically negative, so the value of a binary call is higher when taking skew into account. Since a binary call is a mathematical derivative of a vanilla call with respect to strike, the price of a binary call has the same shape as the delta of a vanilla call, and the delta of a binary call has the same shape as the gamma of a vanilla call.

Many binary option "brokers" have been exposed as fraudulent operations. Manipulation of price data to cause customers to lose is common. Withdrawals are regularly stalled or refused by such operations; if a client has good reason to expect a payment, the operator will simply stop taking their phone calls.

In Israel, where a high concentration of such firms can be found, binary options trading was prohibited for Israeli customers in March on the grounds that it is a form of gambling and not a legitimate investment technique. On June 18, , a ban on marketing binary options to customers outside of Israel was passed by the cabinet.

In August , Belgium's Financial Services and Markets Authority banned binary options schemes, based on concerns about widespread fraud. No firms are registered in Canada to offer or sell binary options, so no binary options trading is currently allowed.

Provincial regulators have proposed a complete ban on all binary options trading include a ban on online advertising for binary options trading sites. The effect is that binary options platforms operating in Cyprus, where many of the platforms are now based, would have to be CySEC regulated within six months of the date of the announcement.

In , CySEC prevailed over the disreputable binary options brokers and communicated intensively with traders in order to prevent the risks of using unregulated financial services. CySEC also issued a warning against binary option broker PlanetOption at the end of the year and another warning against binary option broker LBinary on January 10, , pointing out that it was not regulated by the Commission and the Commission had not received any notification by any of its counterparts in other European countries to the effect of this firm being a regulated provider.

OptionBravo and ChargeXP were also financially penalized. The AMF stated that it would ban the advertising of certain highly speculative and risky financial contracts to private individuals by electronic means.

The French regulator is determined to cooperate with the legal authorities to have illegal websites blocked. This ban was seen by industry watchers as having an impact on sponsored sports such as European football clubs. In March binary options trading within Israel was banned by the Israel Securities Authority , on the grounds that such trading is essentially gambling and not a form of investment management.

The ban was extended to overseas clients as well in October