How to Open German Blocked Account- Everything You Need to Know
About German Blocked Account
This guide covers all you need to know about How to open a German bank account. A Blocked Account is a unique type of bank account for international students in Germany. This allows them to deposit the appropriate amount of money to cover their living expenses for one year and acts as proof of financial resources while applying for a student visa in Germany.
The basic requirements to open a block account, you’ll need four things are:
- The first requirement is that you have a valid university admission letter.
- Second, you must have a current passport.
- Third, you’ll want evidence of finances.
- Fourth, you must fill out the whole form, which you may then submit to the German embassy or the Deutsche Bank.
The minimum amount for a blocked account :
The amount required by the embassy to be deposited into the blocked bank account is now €10,332. Once the student begins his or her first semester in Germany, he or she will be able to withdraw €861 every month. The top blocked account provider in Germany are Deutsche Bank– easy to apply, Expatrio– which provides the best value for money, Fintiba – The most expensive with the most features and Coracle – The most cost-effective alternative.
The purpose of opening a Blocked Bank Account :
The main purpose of the blocked bank account is as follows-
- You must demonstrate to the German authorities that you have the financial means to support yourself while in Germany.
- Set up a monthly budget to meet your living expenditures. Yes, the German government wants to make sure you don’t spend all of your money all at once or run out at the conclusion of your visit.
The process to open a Blocked Bank Account :
When it comes to opening a blocked bank account, different banks have different policies. The procedure that follows is the standard procedure that is followed throughout the bank.
- Open a Blocked Account with one of the banks listed above. Visit their official website for more information. You’ll find full instructions for setting up your Blocked Account.
- Fill out the application form as completely as possible. You’ll be routed to an online application form after you’ve begun the procedure. You must enter your personal information. Your Blocked Account will be opened after the verification procedure is finished. This should take no more than ten minutes.
- Make a deposit. Now that you’ve created a Blocked Account, you may start using it. You must fund your account with the appropriate amount of money. It’s important to keep in mind that overseas transfers might take up to 5 days to process, and sometimes much longer, depending on your local bank.
- A confirmation email will be sent to you. The bank will send you an email as soon as the money has been sent, confirming that your deposit has been acknowledged and that your blocked account has been activated.
- Schedule a meeting with the German embassy. You need to schedule an appointment with the German embassy as soon as you receive the confirmation email. Print the banned account confirmation email since you’ll need it to establish your financial resources at the consulate. That concludes our discussion. Once you’ve created your Blocked Account, you’ve accomplished one of the most critical steps toward obtaining your student visa.
- Now you have access to your funds. When you arrive in Germany, you must create a current bank account with any bank of your choice, into which your monthly payout will be sent from your Blocked Account.
One of the most crucial stages for obtaining a student visa in Germany is to have a blocked account. As a result, it’s essential to open as quick as possible after getting university confirmation. In most cases, opening a blocked account does not take long, although it is advisable to be early. If you have any questions concerning this paper, however, you can contact Howtoabroad.