How to Open Blocked Account – Germany is a top notch location for study abroad program as most foreign student finds the European nation attractive and standard of learning high to carry out their research and studies. The tuition fees is almost nothing compared to other countries. Germany has more than 300 globally rank institution and over 15000 study programs. This post will examine German Blocked account, its importance and how to open it. Blocked Account is a requirement you must fulfilled so as to secure a student visa else you have an exception, This article will give you the details.
How to Open Blocked Account – What is a Blocked Account?
A Blocked Account is a special kind of bank account for foreign students in Germany, to deposit the required amount of money to cover their living expenses for one year and serves as proof of financial resources when applying for a German student visa.
A block Account is also requirement when you apply to obtain the following:
- A Jobseeker visa– which allows you to stay in Germany for six months and look for a job.
- A residence permit – for students who don’t have to apply for a visa to come to Germany. (Students from Australia, Honduras, Israel, Japan, Canada, New Zealand, Republic of South Korea and the United States of America).
You need to open a blocked account once your university admission letter is handy, it’s a way of proving that you have sufficient to sponsor yourself for the first year of your studies.
How to Open Blocked Account – The required amount for Blocked Bank Account as at January 2022 is over 10332 Euros per year and a student has to resume first semester before accessing up to 861 Euros per Month.
How to Open Blocked Account – They are many platform to open Blocked Bank Account in Germany, we are going to look at a few: We have Fintiba Blocked Account and Deutsche Bank Blocked Account.
Fintiba is a large and specialized company built with a mission to help international students to Open Blocked Account in Germany and many students have benefited in various ways from their professional team and a wide variety of services they provide entirely online. The Fintiba Blocked Account is officially approved by the German Federal Office and is widely recommended by local authorities besides Fintiba is safe, flexible and a cheaper option..
Apart from blocked account opening, Fintiba can help student with issues related to their stay in Germany. You can be assisted in opening regular account where your blocked money be transferred when need arises.Please Note that Fintiba acts as an intermediary party between you and Sutor Bank, where your student blocked account is opened.
The Procedure to Open a Blocked Account at Fintiba/Sutor Bank
The whole process of opening your Blocked Account at Fintiba can be completed online on the Fintiba WebApp.
How to Open Blocked Account – Pre-requisite of Opening a Blocked Account at Fintiba/Sutor Bank
Here you will be guided through the Procedure on How to Open Blocked Account:
- A valid International Passport is required. Open a Blocked Account at Fintiba website. You will find detailed information about opening your Blocked Account and if you have further questions they offer a free consultation.
- Fill out the application form – How to Open Blocked Account. Once you’ve started the process, you will be directed to an online application form. Here, you need to provide your personal details and verify your identity (scanning your valid passport). Once the verification process is completed, your Blocked Account is opened. This takes at most 10 minutes.
- Deposit money – How to Open Blocked Account. Now that your Blocked Account is opened at Fintiba, you need to deposit the required amount of money to your account. Note that international transfers normally take up to 5 days to be completed and sometimes more depending on your local bank.
- Receive a confirmation email – How to Open Blocked Account. As soon as the funds are transferred, Fintiba will automatically send you an email to confirm that your deposit is accepted, and your blocked account is now activated.
- Make an appointment at the German embassy. As soon as you receive this email, you arrange an appointment at the German embassy. Print out the blocked account confirmation email because you will need it at the embassy to prove your financial resources. That’s it! Once you have your Blocked Account opened, you have completed one of the most important requirements to successfully get your student visa.
- Access your money – How to Open Blocked Account. Once you arrive in Germany, you need to open a current bank account at any bank of your choice where your monthly payout will be transferred from your Fintiba Blocked Account. Important! Do not forget to finish the last steps in your Fintiba account and upload all the required documents to get access to your money.
The Procedure on How to Open Blocked Account at Deutsche Bank
Having receive your University or College admission letter, You need to know How to Open Blocked Account by applying for a blocked account with the evidence of your admission letter.
You will Download the application form, and fill it completely in duplicate as a copy will be yours and the remaining for the Embassy.
Collect the required documents and appoint an interview through phone or email at the German embassy or consulate in your country of residence.
For the attestation you need to submit the following documents to the German embassy or consulate in your country of residence:
- Application Form for a Deutsche Blocked Bank Account, fully filled with correct and honest information (Download the form here!)
- your valid passport, alongside with two black and white copies
- your admission letter from the German University where you will carry your studies, alongside with a copy of it
- a prepaid envelope (from a private provider such as FedEx, DHL or US to forward the application to Germany) addressed to Deutsche Bank, “Deutsche Bank”, Privat- und Geschäftskunden AG, Alter Wall 53, 20457 Hamburg, Germany
- documents that prove the source of your funds (e.g. bank statements)
The following fees will apply:
- authentication of signature: 20€
- Language Course Participants:
- authentication of signature: 20€
- certification of the copy of the passport page: 10€
Sending your application to Deutsche Bank – How to Open Blocked Account
At the German embassy they will certify your application form, which then you shall send to this address through the German embassy consulate:
DB Privat- und Firmenkundenbank AG
Alter Wall 53
Along with the application form, you will need to send the following documents as well:
- Certified copies of your passport
- A copy of the admission letter from your university/ college
- Evidence of the source of your funds (e.g. bank statements)
If there is a branch of the Deutsche Bank in your home country, you can apply there directly without the need to go to the embassy.
Within a few days, you will get a reply from the bank in Germany through email, confirming that your bank account has been opened.
Upon the receiving of this confirmation, transfer the amount of required money (you can transfer more than that if you wish to, but not less). Keep in mind that there will also be a fee depending on your country of residence, of 150 euros and a monthly maintenance fee of €5.90. This procedures entails How to Open Blocked Account
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