How to Open a Blocked Account with Expatrio: 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. A blocked account is a special type of bank account that is required by the German government to ensure that students have enough funds to cover their living expenses while studying in Germany. The German Federal Foreign Office has officially recognized and approved the blocked account service that Expatrio is providing, and this can be shown on their official website as one of the specialized providers of the Blocked accounts for Visa application. In this blog post we will guide you on how to open a blocked account with Expatrio.
Why do students need a blocked account?
Students from outside the European Union who intend to study in Germany must have a blocked account. Students must demonstrate to the German government that they have the financial means to pay for their living expenses while studying there. This makes sure that while they are there, students don’t just rely on government assistance. Expatrio do not allow minors to open a blocked account.
The current submission requirement is €11,208. 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.
Why should you choose Expatrio to Open a Blocked Account?
Large and specialized, Expatrio was founded with the specific goal of assisting foreign students in Germany. They have a skilled crew, and they offer a wide range of services fully online, and many students have profited from them in many ways. They offer a more affordable alternative and are quick, safe, and versatile. In addition, in addition to blocked accounts, their collection of offerings includes many more services because of their extensive network of partners. Students can contact Expatrio for assistance with opening a blocked account as well as other difficulties pertaining to their stay in Germany. The advantages of opening a Blocked account with Expatrio are numerous.
- A blocked account cannot be opened for 24 hours.
- The only thing needed for the setup is a passport.
- A free current account can be opened thanks to Expatrio’s collaboration with numerous German banks.
- Partnership with digital banks to open a current account entirely online.
- If your visa is denied, you will receive a complete refund.
- Costs are comparatively low.
- Approved by the federal government of Germany.
Steps to open a blocked account with Expatrio
- Complete the Expatrio questionnaire to determine which service you need. You will be answering questions about what you will do in Germany as well as your age.
- Calculate how much you will pay. The calculation is based on the duration of time you will be in Germany.
- Complete the online application form. After the calculation, you can click on “Apply Now” and complete the online application, where you have to provide your personal details, your education information, your address.
- Attach a scanned copy of your passport.
- Confirm and submit the application.
- Wait about 24 hours for the blocked account to open. Once the account is opened, you will receive an email with your International Bank Account Number (IBAN) and other relevant information for making the money transfer.
- Transfer the money using the IBAN Expatrio sends you. The international money transfer can take about 1-5 days to complete.
- Get your Blocking Confirmation and apply for your visa. As soon as the money is in your blocked account, you will receive a Blocking Confirmation document, which you have to submit to the Embassy.
- Apply for your German visa.
- Travel to Germany and Activate you Blocked Account
How to activate your Expatrio Blocked Account?
To activate your blocked bank account with Expatrio, you have to click on the “Activate” button on your Expatrio User Portal. You must have the following:
- A current bank account. Your full name, IBAN, and BIC must appear on an account starting document or a monthly bank statement that you provide.
- A German address. Once you’ve settled in, you must register your German address and obtain an Anmeldung (Registration Certificate) to file for the activation of your blocked account and to access your current account. You can also upload a copy of your lease or a letter from your landlord confirming your address.
- Your German visa or residence permit. You must submit a scanned copy of your German visa or residence permit along with your passport and a ticket that shows you arrived legally in the country.
Once you have submitted your request for approval, you will receive confirmation within one day. Three to five business days after that, you will receive the first instalment of €934 on your current account. If you transferred more money than requested, you will receive the excess with the first instalment.
Opening a blocked account with Expatrio is rather easy, but it does take close attention to the details. Before beginning the application process, make sure you have all the required documentation and information ready, and pay close attention to the instructions.
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