Open A Blocked Account in Germany

 

One of the most popular destinations for international study is Germany. Germany continues to draw top students from all over the world with its free educational system, more than 300 esteemed academic institutions, a variety of study options, and knowledgeable faculty. For many international students, obtaining a German student visa is a prerequisite to continuing their studies in Germany.

What Is a Blocked Bank Account?

A blocked bank account is evidence that, as an international student or job seeker, you can support yourself financially. You need to transfer €11,208 into a bank account registered in Germany before moving to that country. It is called a "blocked" account because this money will be frozen and you will only be able to withdraw €934 per month to use for your regular expenses after you arrive.

 

Process of Opening a Blocked Bank Account

Since you need to open a blocked account before applying for a German visa or residency permit, you usually need to be in your home country to do so. Depending on the service provider you select, the procedure may differ, but the general steps are as follows:

·       Speak with the German Embassy or Consulate to find out the precise amount of money needed. It is imperative that you do not make any deposits prior to verifying the minimum amount needed, even though it frequently stays the same for every applicant.

·       Create a blocked account at the bank of your choice. You can open an account online if you deal with intermediaries such as Fintiba, Expatrio, or Coracle. If you approach a bank directly, though, you will probably need to submit a paper application; if you live outside of Germany, this is typically done through the German Embassy.

·       Keep checking your application to be processed.

·       Obtain the letter of confirmation from the bank. You will receive the Confirmation Document for a Blocked Bank Account from the provider after the transfer is complete, and you need to show it to the German Embassy.

·       Await the issuance of the visa. Once the confirmation letter and necessary documents have been submitted, you will have to wait for the processing of your visa. You will be given a National D Visa upon approval, which will allow you to enter Germany.   

We hope that this post has answered some of your questions and helped you through the process of opening a blocked account in Germany. To know more about the process, visit this: https://expatguides.de/how-to-open-blocked-account-in-germany/#comparison-of-blocked-account-providers-in-germany