Blocked Account in Germany: A Comprehensive Guide
- A blocked account is a mandatory requirement for Indian students to prove financial stability while studying in Germany, with a deposit of around EUR 11,904 for one year of living expenses.
- You can open a blocked account remotely from India through online providers like Fintiba or Expatrio, or at German banks like Deutsche Bank.
- After depositing the required amount, you can activate the account and withdraw a fixed monthly allowance (around EUR 861), ensuring your living expenses are covered throughout your stay.
When planning to study abroad, one of the critical steps for international students heading to Germany is securing a blocked account. For Indian students, understanding the purpose, process, and best providers for opening a blocked account in Germany is crucial.
This financial requirement is part of the visa application process and plays a significant role in ensuring you have sufficient funds to cover your living expenses during your studies. In this guide, we will delve into what a blocked account is, how to open and activate it, and the best blocked account providers for German students.
What is a Blocked Account in Germany?
A blocked account in Germany is a special type of bank account that international students need to open to prove they have sufficient funds to live and study in Germany. The German government requires all non-EU students to demonstrate that they can financially support themselves while residing in the country.
The main purpose of the blocked account is to show that you will not face financial difficulties during your time in Germany. The funds in this account are frozen, and you can only access a limited amount each month, which ensures that your living expenses are covered throughout your stay.
The account is designed to offer a sense of security to both the German authorities and students, ensuring that all international students have enough money for basic needs such as accommodation, food, and health insurance.
Why Do Indian Students Need a Blocked Account for a German Study Visa?
To apply for a German study visa, students are required to prove they have enough money to cover their living expenses. A blocked account is a means to meet this requirement. The German authorities have set a specific amount of money that needs to be shown in the account to ensure that students will not need to rely on external financial help while studying in Germany.
Indian students, in particular, need to comply with this requirement because Germany’s immigration laws do not allow them to rely solely on family support or scholarship offers. The blocked account ensures that the student can access their monthly living expenses while studying.
As of recent regulations, the minimum amount that must be deposited into the blocked account is approximately EUR 11,904 or INR 11.55 Lakhs for one year, which covers the estimated living expenses in Germany. However, the exact amount might vary depending on your circumstances and the region of Germany where you are studying.
How to Open a Blocked Account in Germany?
Opening a blocked account in Germany is a relatively simple process, but it can be confusing for first-time applicants. Below is a step-by-step guide to help you understand how to open a blocked account from India:
Choose a Bank or Service Provider: There are several banks and financial institutions in Germany that provide blocked accounts for students. Some banks allow you to open the account from abroad, while others may require you to open the account once you arrive in Germany. You need to choose a provider that best suits your needs, whether it’s a traditional bank or an online service.
Prepare Required Documents: Before you can open a blocked account, you must gather the necessary documents, such as
- A Valid Passport
- University Offer Letter or Enrolment Confirmation
- Proof of Sufficient Funds
- German Study Visa Application Form
Choose a Deposit Method: Once you’ve selected a provider, you will be required to deposit the necessary amount of money into the blocked account. Many students choose to transfer the funds directly from their bank in India to their blocked account in Germany. The process may take a few days, so ensure you account for the transfer time when planning your visa application.
Set up an Online Account: If you choose an online service provider for your blocked account, you will likely need to set up an account on their website. This is where you will submit your documents and upload proof of identity. You may also be asked to video verify your identity, a common security measure to confirm that you are the account holder.
Deposit Funds into the Account: You will need to deposit the required amount into your blocked account. The funds must be transferred via an international bank transfer to ensure that the money is properly locked in the account. The bank or service provider will provide you with details on how to transfer the funds.
Get Confirmation: Once the account is opened and the funds are deposited, you will receive a confirmation from the bank or service provider. This confirmation is essential for your visa application and serves as proof that you have the necessary funds to live in Germany.
How to Activate a Blocked Account in Germany?
Activating your blocked account is a vital step before you can begin withdrawing funds. The process to activate it may differ slightly depending on the provider you choose, but here is a general overview of how to activate a blocked account in Germany:
Verify Your Identity: Activation often requires you to verify your identity. This may involve providing additional identification documents, completing a video call verification, or submitting your passport details online.
Set Up Monthly Withdrawals: Once your identity has been verified, the bank or provider will help you set up a monthly withdrawal system. This system allows you to withdraw a fixed amount of money each month. Typically, this amount is set to cover your living expenses, and you can access it directly through an ATM or via online banking.
Receive Your Bank Details: After successful activation, you will be provided with the details of your blocked account, including account numbers, PIN, and online banking login information. Keep these details safe and secure, as they will be crucial for accessing your funds.
Confirm Monthly Payment Plan: The bank will ensure that you have access to a specific amount of money each month. For example, if the total blocked amount is approximately EUR 11,904 or INR 11.55 Lakhs, you will be able to withdraw a set monthly amount (EUR 861 or INR 83,610).
Accessing Your Funds: Once the account is activated, you will be able to withdraw funds as per the monthly allowance. Keep in mind that the money is “blocked,” meaning you cannot withdraw the entire sum at once. The monthly withdrawal system ensures that the funds are spread out over the year.
Best Blocked Account Providers for Germany
Several banks and financial institutions offer blocked accounts for students. Here is a list of some of the best blocked account providers for Indian students heading to Germany
Deutsche Bank: Deutsche Bank is one of the most prominent and widely trusted banks in Germany. It offers students the option to open a blocked account, either in Germany or from India. The bank has a good reputation for customer service and offers multiple features to ease the process for international students.
Fintiba: Fintiba is a popular online service provider that offers blocked accounts for students. Fintiba allows students to open their accounts remotely, which is convenient for Indian students. The platform offers a simple and fast process, and it also provides additional services such as health insurance and visa assistance.
Expatrio: Expatrio is another well-known service provider for opening blocked accounts. It offers a fully digital solution, allowing students to complete the entire process from India. Expatrio also provides various additional services, such as health insurance and help with visa applications, making it a comprehensive choice for students moving to Germany.
Sparkasse: Sparkasse is a major bank in Germany and provides blocked account services for students. The process may be slightly more traditional, and you may need to open the account in person after arriving in Germany. However, Sparkasse has a strong reputation and is one of the most well-established banks in the country.
SiG: SiG offers an entirely online service for opening a blocked account and has a reputation for its fast processing times. It is popular among international students due to its efficiency and straightforwardness in helping with the process.
Key Takeaways by AdmitX
For Indian students planning to study in Germany, understanding the process of opening and activating a blocked account is essential. The blocked account ensures that you meet the German visa requirements and have enough funds to support yourself during your stay. Whether you choose to open an account through a traditional bank or an online provider, ensure that you follow the steps carefully to avoid any delays in your visa application.
A blocked account not only guarantees that you have the financial means to live and study in Germany but also helps you stay organised with your finances while abroad. By choosing the best blocked account provider and following the right steps to activate and manage your account, you can focus on what matters most: your studies and life in Germany.
FAQs
What is a blocked account, and why do I need it to study in Germany?
A blocked account is a special type of bank account that is required by German authorities for international students. The funds in the account are frozen and can only be withdrawn in fixed monthly amounts.
It serves as proof that you have sufficient financial resources to support yourself while studying in Germany. This is a mandatory requirement for obtaining a German student visa.
How much money do I need to deposit in a blocked account for Germany?
The required amount for a blocked account in Germany is approximately EUR 11,904 or INR 11.55 Lakhs, which covers living expenses like accommodation, food, and other necessities. This amount may vary slightly, depending on the specific university or region. Typically, students can withdraw around EUR 861 per month from their blocked account.
Can I open a blocked account from India, or do I need to wait until I reach Germany?
Yes, you can open a blocked account from India. Many service providers like Fintiba and Expatrio allow you to complete the process online before you leave for Germany. This is especially convenient for students who want to sort out their finances well in advance of their visa application.
How do I activate my blocked account after opening it?
Activating your blocked account involves verifying your identity and setting up monthly withdrawals. Once your blocked account is opened and the funds are deposited, you will receive your bank details.
You may be required to confirm your identity through video verification or by submitting additional documentation. After activation, you can access the monthly allowance, which is typically around EUR 861.
What happens if I need more money than the monthly withdrawal limit from my blocked account?
The funds in a blocked account are locked for the entire year, and you can only withdraw the set monthly amount.If you need extra funds for specific emergencies, you will have to make arrangements for additional financial support, such as transferring funds from a personal account or relying on financial assistance from family or scholarships. However, you cannot access the full amount of the blocked account at once.
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