How to Open a Blocked Account with dROPMONEY : Everything you need to know
How to Open a Blocked Account with dROPMONEY : Everything you need to know
If you’re a student planning to study in Germany, one of the essential requirements you need to fulfill is to open a blocked account. The German government requires students to have a blocked account, which is a special type of bank account, to ensure they have enough funds to cover their living expenses while studying in Germany. The German Federal Foreign Office officially recognizes and approves the blocked account service provided by dROPMONEY. dROPMONEY displays this recognition and approval on its official website as one of the specialized providers of blocked accounts for Visa applications. In this blog post, we will guide you on how to open a blocked account with dROPMONEY.
Why do students need a blocked account?
Students from outside the European Union who intend to study in Germany must have a blocked account. In order to ensure that students do not solely rely on government assistance, it is imperative for them to demonstrate their financial capacity to cover their living expenses while studying in Germany.
The current submission requirement is €11,904. The account is locked for a specific amount of time after the money has been deposited. The account holder can only access the money after the lock-in period expires or when they arrive in Germany and provide the necessary documentation.
| Year | Monthly Amount | Annual Amount |
|---|---|---|
|
2024
|
€992
|
€11,904
|
|
2023
|
€934
|
€11,208
|
|
2022
|
€861
|
€10,332
|
Why should you choose dROPMONEY to Open a Blocked Account?
A blocked Dropmoney account might be opened for a number of compelling reasons. Here are some main reasons for opening a blocked Dropmoney account:
- Compliance with Visa Requirements
- Secure and Regulated Platform
- Convenient Online Banking
- Flexible Account Options
- Hassle-Free Account Opening Process
- Reliable Customer Support
- International Accessibility
- Transparency and Control
By opening a blocked account with Dropmoney, you can meet visa requirements, securely manage your finances, and enjoy the convenience of online banking tailored specifically for international students. It’s a reliable and efficient solution to ensure your financial stability while studying abroad.
Steps to open a blocked account with dROPMONEY
To activate your blocked account with Dropmoney in Germany, follow these steps for a simple and hassle-free process.
- Visit the Dropmoney Website: Go to the official Dropmoney website and navigate to the section dedicated to opening an account.
- Start the Account Opening Process: Look for the “Open an Account” or “Get Started” button on the Dropmoney website and click on it. This will initiate the account establishment procedure, redirecting you to a new page where you need to enter your personal data.
- Fill in Your Personal Details: Complete the account opening form with accurate personal information. Double-check for any errors to avoid delays or issues. Choose Germany as your final destination to ensure compliance with German laws regarding blocked accounts.
- Choose the Account Type: Select the blocked account type that suits your needs from the options provided by Dropmoney. They offer a range of account choices for different purposes. In this case, opt for the blocked account specifically designed for foreign students studying in Germany.
- Provide the Required Documentation: Submit the necessary documents for verification to create your blocked Dropmoney account for Germany. The required documents include: a) Passport or identification document: Upload a clear and readable scanned copy of your valid passport or identification document. b) Admission letter or university enrollment certificate: Provide proof of your admission to a German university or a certificate confirming your enrollment.
- Complete the Verification Process: Dropmoney will initiate the verification process upon receiving your documents to ensure compliance with regulations. This procedure may take a few business days. Stay patient and check your email regularly for updates or additional information requests.
- Fund Your Blocked Account: After your account has been validated, Dropmoney will provide you with instructions to transfer the minimum required amount into your blocked account. This sum will be available to you in monthly installments during your stay in Germany, serving as proof of your financial stability.
- Enjoy the Benefits of Your Blocked Account!
How to activate your dROPMONEY Blocked Account?
To activate your blocked account with Dropmoney in Germany, complete the account opening process and submit the required documents. Once approved, deposit the minimum required amount into your account as proof of financial capability. Visit a German Consulate or Embassy, if necessary, to fulfill any additional requirements. Provide proof of deposit, such as a transaction receipt or bank statement, to Dropmoney for verification. Once verified, Dropmoney will send confirmation that your blocked account is activated. You can then use the funds for visa purposes and manage your finances while studying in Germany. Stay updated on any specific instructions provided by Dropmoney and the German authorities.
Opening a blocked account with Dropmoney is not only simple but also provides you with a safe and effective means of managing your finances. By following the procedures outlined in this article, you can smoothly navigate through the account opening process. It is essential to ensure accuracy in providing information and submitting the required paperwork for validation. Additionally, you can take advantage of the convenience offered by online banking with Dropmoney, providing you with peace of mind knowing that your money is secure and easily accessible. Start your journey towards financial freedom today!
Read more at How To Abroad:
How to Open a Blocked Account with Fintiba
How to Open a Blocked Account with Expatrio
Want to study in Germany? How To Abroad can help you achieve your academic dreams.