Most of you probably know that Germany today is one of the most attractive countries for international studies. All together, there are more than 400 educational institutions opening their doors for students from all over the world. However, certain requirements need to be fulfilled in order to be eligible to move and study in Germany.
Apart from normal entry requirements from universities, there are also some governmental prerequisites that need to be paid attention to by students from non-EU countries, specifically when applying for a German visa and taking care of all the related formalities.
Today we would like to talk about the proof of financial resources that needs to be provided to the embassies in order to demonstrate that a student is capable of financing himself/herself during the stay in Germany. One of the most common ways to do so is to open a Blocked Account in a German bank.
What is a Blocked Account?
This is a special type of a German bank account that was created specifically for internationals willing to come to Germany with the purpose of studying, job-searching or participating in the au-pair program.
The account has to be opened at a German bank while you are still at your home country preparing your documents
The idea behind is that students have to ensure that they have sufficient funds to secure their stay
euros have to be blocked for every month that you are planning to stay in Germany. This would be 8820 euros for a year*
*check the required sum at the website of the local embassy
The process behind it
Blocked Account Check-List
Best time to open a Blocked Account
Hints and Tips
Make international transfers easy
This is a big sum of money you are going to transfer. Many local banks get cautious when you send those kind of amounts abroad, especially to someone else’s account. Make sure you open your blocked in your own name and avoid the hassle.
Carefully go through the guidelines
Learn everything about the process from the beginning and try to fully understand how it works. It is always important to know exactly what is going to happen to your money and how you can get access to it.
Take extra money
A lot of unexpected situations could happen when moving to a new country and it might take some time until you get access to your Blocked Account. Make sure you have enough money to cover your expenses until then.
How to open a Blocked Account at Fintiba?
Watch this video and get to know how you can quickly and easily open your Blocked Account with us – fully online!