Student Bank Account in Germany

A blocked account is a financial requirement for international students from non-EU or non-EEA countries studying in Germany. It functions as proof of funding and allows limited withdrawals, ensuring the student can cover living expenses. This type of account is commonly used by international students to demonstrate their financial capability, and by transferring a specified amount, they ensure financial stability throughout their studies.

Starting from January 1, 2023, the required amount for a blocked account when applying for a student visa in Germany is 11,208 euros, which serves as proof of financial means for studying. The account holder can only withdraw a maximum monthly amount (currently 934 euros for students) until they arrive in Germany. It’s important to note that the required monthly minimum is also the maximum that can be withdrawn or transferred within a specified period, unless the account holder has deposited more than the minimum required amount.

It is recommended to open your blocked account as soon as you receive your admission letter to avoid any delays in the process. By being proactive, you can stay ahead of other applicants who may receive their admission letter later.

The time it takes to open a blocked account in Germany can vary depending on factors such as nationality, bank provider, embassy workflow, and paperwork. If all goes well, your account should be created within a month of submitting your application.

For example, X-PATRIO or Fintiba offer account opening in less than 10 minutes. However, it’s important to ensure that you have all the necessary documents to avoid any potential delays or complications.

While it is possible to study in Germany without opening a blocked account, it is the most straightforward way to provide proof of your finances for living expenses. Alternatively, you can submit other financial resource proofs such as documents about your parents’ income, evidence of a scholarship, a letter of commitment from a resident in Germany, or a bank guarantee.

One of the crucial steps in opening a blocked account is depositing the required amount. Once the money is transferred to your blocked account in Germany, you will receive confirmation of its opening along with the deposited amount.

To transfer money to your blocked account in Germany, you have several options:

It’s important to ensure that the amount you transfer covers the minimum requirement for the German blocked account. This information can be obtained from your chosen bank. International transfers typically take 3 to 5 business days, but the duration may vary. Once the funds are credited to your account, you will receive the confirmation necessary for your German student visa application.

In the unfortunate event that your student visa application is rejected by the German Embassy, you will be eligible for a refund. To initiate the refund process, contact the blocked account provider directly or visit the German Embassy in your home country for instructions on the necessary steps. It’s important to note that transfer fees are non-refundable.

Using a savings account for financial proof is not accepted because it allows the account holder to withdraw more money than permitted, potentially leading to excessive spending. The blocked account’s unique feature is that it restricts withdrawals and transfers, allowing only a predetermined monthly amount, unless a higher minimum deposit has been made. This monthly allowance is designed to cover the student’s living expenses throughout the study period, making a savings account ineligible.

Yes, it is necessary to declare the source of your funds when opening a blocked account. One common method of proving your financial resources is by providing a bank statement that shows your deposited funds.

Yes, there is typically a one-time fee to open a blocked account. It is advisable to inquire about the expected costs beforehand. Additionally, most providers have basic monthly fees to maintain the account.

Yes, a third party can make the deposit on your behalf. However, you will need to prove your identity and may be required to provide authorization, a valid passport, and a bank record of the transfer.

Yes, the money in your blocked account is safe. German banks participate in the Deposit Guarantee Scheme, ensuring that deposits are protected up to 20% of your total capital.

While a blocked account is a common choice for proof of funding, there are alternative options accepted by the German Embassy. The specific requirements and options may vary based on your home country. For example, you may have a relative in Germany who can provide a guarantee to cover your expenses during your stay.

No, unfortunately, the procedure for opening a blocked account cannot be expedited. The bank will process your application according to their regular timeline, which may vary depending on the provider.

The process for opening a blocked account in Germany is the same regardless of the country you are applying from. You can refer to a detailed article on opening a blocked account specifically for applicants in India.

Upon your arrival in Germany, you will need to register your place of residence at the Residents’ Registration Office. It is important to complete this process within two weeks of your arrival. Once registered, you can provide the bank with the necessary information to update your account details.