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Germany Blocked Account for International Students

Cars are an expensive commodity that many people covet. One reason Mercedes-Benz is so popular is that it originates from Germany, making it a luxury car. Moreover, they offer the best quality out of any other vehicle manufacturer in Europe – giving them the title of best when it comes to manufacturing cars. Germany also has a sizeable economic position and produces high-quality goods overall. It is no surprise that many Mercedes-Benz taxis are available to cater to passengers throughout Germany. 

The Christmas tree has its origin in Germany. Happy news for bear lovers is there are seven thousand varieties of bears in Germany.

One thing that makes Germany stand out is its excellent standards in terms of education. The country has the best universities opening their doors to students from different parts of the world. 

One reason why it’s an attractive destination for Indian students looking to study abroad is that they offer a lot of different programs and courses. Being a wealthy country, it provides what anyone would need or want while living there!

It is not enough to want to go and study in Germany – you must secure a German Study VISA. One thing to be noticed when preparing the necessary documents for your application is proof of your financial ability to provide living expenses for yourself during your initial year abroad. Without this, how would you live while studying abroad? Yes, it is where Blocked Accounts come into play. This blog is all about The German Blocked Account.

What is a German Blocked Account?

 

This account is a unique kind of German bank account made just for foreigners willing to move to Germany to study, look for work, or participate in the au-pair programme.

A German Blocked Account is where your money will be “blocked” for the time you spend visiting Germany. German authorities define the required transfer amount as a guarantee that you can maintain an acceptable level of living overseas. Even though the money is held in your name and belongs to you entirely, you can only access a portion of it at once. Instead, you get a monthly allowance into a conventional bank account that you open at the German bank of your choice. 

 The “Blocking confirmation”  you receive immediately after depositing the required amount will be your final financial proof to travel along with the Visa and other documents. 

Documents required for Opening a German Blocked Account

Opening a bank account depends on your nationality and the chosen bank account provider. 

  • With Expatrio, you will only need your passport to register and create an account, and the confirmation will be received within 24 hours. 
  • Valid Passport
  • Application form
  • Admission letter from the university
  • Bank statement of your income
  • A prepaid fee

Duration and Amount of Money in the German Blocked Account

The time it takes to create a blocked account in Germany depends on various elements, including your nationality, the provider, the pace of the German embassy’s operations in your place of residence, paperwork, etc. Within a week of completing your application, your blocked account should be prepared if all goes according to plan. 

The minimum amount of money to be deposited towards the German Blocked Account is €10,332.  

How will you get a German Blocked Account?

Opening a German Blocked Account is a very simple process which can be done in a few steps. 

  • Choose a service provider: It is your responsibility to choose a trusted service provider who can do timely transactions and ensure the safety of your money. Unimoni India is a trusted financial institution that will help you open a German Blocked Account.
  • Apply Online: The next step is to apply online for a German Blocked Account. 
  • Fill out the application form:Download and fill out the application form. 
  • Deposit Funds: After opening the account, deposit the required money for confirmation. 
  • Blocking Confirmation: Get your blocking confirmation message immediately after depositing the required amount. This will act as proof of your financial source. 

How do you transfer money to your German Blocked Account?

Before making any transfer decisions, you must have the necessary information if you wish to send money to a blocked account in Germany. To start with, you should look for an easy, effective, and affordable solution. The process of sending and receiving money has dramatically simplified over the years, and there are now more options than just banks available for international money transfers.

Remitforex by Unimoni will assist you in opening a German Blocked Account with the necessary documents and processes. Remitforex is an online platform which makes the transaction much easier and more secure. 

After receiving your offer letter, go to the Unimoni branch near you and open a German Blocked Account. There are over 300+ branches and 12k agents across India! You can choose a blocked account service provider depending on your preferences or needs from Unimoni. With years of experience and knowledge, our team will ensure t o provide what best suits your needs.

How to withdraw Money from German Blocked Account?

You can draw money from your blocked account once you move into a recognised address in Germany, but you won’t be able to directly access your blocked account in Germany. Therefore, the only method to withdraw your funds is to register a German international student bank account, to which your restricted funds will be deposited each month.

Unless you have deposited more than the statutory minimum, you are now only permitted to withdraw a maximum of €861 monthly. 

Epilogue

German Blocked Account guarantees that you can uphold an appropriate standard of living abroad defined by the German Authority. It is to safeguard yourself when you are away from your home. 

Blocked accounts won’t rule the world or be required to enter every country. They are, however, necessary if you want a study visa in Germany.

Remitforex by Unimoni allows you to send or transfer money. With us, everything is simple. We guarantee the world’s quickest money transfers. Our dual-factor authentication makes transactions safe and secure. Being a premier authorised money dealer, we protect you from all fraud. We will keep your money secure while ensuring that the transferred amount reaches its destination on time.

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