You’re only a couple of steps away from setting foot on German soil. The Block Account is the first and most important. It’s time to apply for a block account when you’ve received your university acceptance letter. In Germany, what exactly is a blocked account? It is a fixed amount that proves you have enough money to study in Germany. This explanation is most likely inadequate. Let’s go over this in more detail to make sure you understand.
German Blocked Bank Account: What Is It and Why Is It Required?
A blocked bank account in Germany is a special student bank account opened by international students studying in Germany. This account serves as proof that they have sufficient funds to cover their first year of study in Germany. You may use this bank account upon arrival in Germany.
REMEMBER:
Except for the European Union, the United States, Australia, Japan, New Zealand, and a few other countries, international students accepted at German universities must open a German blocked bank account.
You must set aside approximately €10,332 to demonstrate that you have sufficient funds to finance your education in Germany for at least one year. A block account is also required for the Germany Student Visa.
Any general bank would be unable to provide you with this account because it is a special account to be used in a foreign country. Only a few German-recognized banks will permit you to open a blocked account.
Documents Required for Indian Students to Open a German Blocked Bank Account
A block account is required for a Germany student visa. This is the proof of funding you must provide in order to obtain a student visa. So, if you want to open a blocked account, you must provide the following documentation:
- Passport copies University acceptance letter
- Photos in passport size
- Bank statements for the account from which the funds are transferred (This depends on the bank you will create the account in).
How to Unblock a Blocked Account in Germany
The process of opening a German blocked account varies depending on the provider, but the basic steps are quite similar-
Step 1- Select a bank or service provider.
Step 2- Apply for a blocked account online through their portal.
Step 3- Fill out the application form after downloading it.
Step 4- Put the money in the account.
Step 5- Obtain confirmation of the amount blocked.
Step 6- Schedule a meeting with the German embassy.
Step 7- Get Your Money.
Most Popular German Blocked Accounts: Which Is the Best Bank in Germany for Blocked Accounts?
Before opening a blocked account, students consider many factors such as safety, credibility, accessibility, and quality services to international students. The student’s visa status is affected by a large Germany blocked account amount. As a result, selecting the best bank for blocked account Germany is critical.
The following are some of the reputable banks with which you can open an account:
- The Deutsche Bank
- Account at Kotak Mahindra Bank
- Bank Fintiba
These are the top three banks where you can have a blocked account.
Deutsche Bank Blocked Account: Deutsche Bank blocked account is one of the best and most trusted banks in Germany for having a blocked account.
How to Open a German Blocked Account with Deutsche?
The steps to open a student blocked account in Germany are as follows:
- Fill out the application form electronically, then print two copies. There are several pages of questions and regulations, so make sure to answer them correctly and carefully read the instructions.
- Send the following documents to the German Embassy/Consulate for legalisation.
- Your valid passport.
- A copy of the Acceptance Letter from your college/university
- A private service provider’s prepaid envelope (FedEx, DHL, UPS, etc.).
- Evidence of the source of your funds
- Submit the documents with a copy of the application form, the German Embassy/Consulate in your country.
- The application will be mailed by the German Embassy or Consulate to the relevant Deutsche Bank branch in Germany.
- Once your application has been processed, Deutsche Bank will send you your IBAN and BIC via email or registered mail. (At the time of application, you specify your preferred method of contact.) This usually happens after a few weeks.
- Transfer the funds to the Deutsche Bank Blocked Bank Account.
- Once your funds have been received, the bank will send you an email or registered letter to let you know.
If Kotak Mahindra Account Blocked
If you want to open a Kotak Mahindra blocked account, you must first select the Kotak branch where you want to open the account (Not all branches open a blocked account).
How to Unblock a German Bank Account for Kotak?
It is not easy to open a blocked account with Kotak. It has drawbacks because it is an Indian bank that works with foreign institutions. For example, once you arrive in Germany, you will need to open a blocked account. Following that, you must have the Germany blocked account amount transferred from India.
If you trust the bank, however, take a look on steps to open a German blocked account with kotak:
Step1- Download the form from the Kotak website.
Step 2- While filling out the form, make sure you are providing accurate information. Because this is such an important step, any errors in the form may result in your rejection.
Step 3- Along with the submission of the form-
Step 4- a xerox of your passport, admission letter from a German university.
Step 5- Provide the email of indemnity in the format of the bank (to qualify that you have a legit blocked account)
Step 6- Your request to change your resident status to non-resident, as well as your Resident Account to NRI.
Step 7- Provide with the IP cheque in the amount of INR 10,332.
Step 8- Student Request Letter – your declaration to allow Kotak Mahindra Bank to apply a Debit Freeze in your blocked account until you are granted permission to withdraw funds from abroad, as well as sharing your blocked account information when you arrive in Germany.
Step 9- A week later, your bank will send you an email confirming that your blocked account is ready, as well as the exact amount of money you have deposited in it.
Step 10- The procedure has not yet been completed. When you arrive in Germany, you must open a bank account with Deutsche Bank through their online application portal. You must correctly fill out an application form and upload it along with other required documents as specified in the online portal.
Step 11- As soon as the DB receives your application, they will send you the IBAN (bank account number) and BIC (equivalent to Swift Code). If you have registered your address in Germany, you can choose to receive these numbers by mail or post.
Step 12- After Deutsche Bank confirms the opening of your bank account, you must request that Kotak Mahindra Bank in India transfer your funds to your German bank account and withdraw them as required.
Step 13- They will call you shortly after receiving your email to inquire about the details of your account, so keep your IBAN, BIC, and passport number handy.
If Fintiba Account Blocked
Fintiba is a specialised firm that assists students in obtaining a German Blocked Account. When compared to other bank procedures, opening a Fintiba blocked account is extremely simple. So much so that, unlike other banks, Fintiba takes only 10 minutes to set up your Fintiba open blocked account.
How to Open a Fintiba German Blocked Account?
The following are the steps for opening a Fintiba blocked account:
Step1- Sign up on the Fintiba website.
Step 2- Fill out the application form. When you begin the registration process, you will be asked several questions.
Step 3- Please upload a scanned image of your passport. Once your account is created, it will be open in about 10 minutes.
Step 4- Transfer the funds. This could take up to five days depending on the bank you’re transferring money from and the country. You must also pay the processing fee, which is approximately €89.
Step 5- Wait for the email confirmation. You will know your Fintiba open blocked account has been created and is active once you receive the email.
Step 6- Print the email confirmation. Attach it to your German Student Visa application.
Step 7- To apply for a visa, submit the Confirmation to the German Embassy/Consulate.
Comparing the Top 3 Options
| Factor | Deutsche | Kotak | Finta |
| No of Days required to open account | 2-3 weeks | 15-20 days | 10mins.- 5 days |
| Multi language Support | English & German | English & Hindi | English & German |
FAQ
1. Is it possible to withdraw money from blocked account Germany?
Yes, one can remove their entire balance at once or a smaller amount as needed. Once the deposited sum has been exhausted, then you will receive €853 per month.
2. Can money be deposited to blocked account?
Even though a bank account is blocked, money can still be deposited, either manually by the customer or through direct deposit.
3. What are the Alternative to Blocked Bank account?
If you find this method not suitable then you can submit proof of sufficient financial means or any other statement that covers your complete stay in Germany. So alternative methods of providing proof of Financial statement are:
- A scholarship
- Bank statement of parents
- Letter of Sponsorship from someone in Germany
4. Can Blocked Bank Account be used under someone else’s name?
Opening an account in your own name is preferable because doing so will prevent future issues.
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