Are you looking to learn more about the German Blocked Accounts & its importance? We’ll make it easy for you.
Blocked accounts are designed specifically for international students and job seekers who meet the requirements for visa procedures. RemitX Blocked account has been approved by the German foreign office of the Republic of Germany. Student visa applications require proof of sufficient funds to cover living expenses in Germany. It is possible to fulfil this requirement by opening a Blocked Account, also known as Sperrkonto. Capital India Finance Limited has been authorized by the German Ministry of Foreign Affairs to open a “RemitX Blocked Account” for Indian students.
Important Aspects of GBA
- As part of their visa application, international students must show proof of adequate funding to cover their living expenses while studying in Germany. A blocked bank account is the most common way for students to prove that they have the financial resources to support themselves.
- It’s an account that you deposit a large sum of money to that will help you with your day-to-day living expenses while studying in Germany. This is an essential part of the visa application that all internationals will be asked to do.
- Due to this blocked account for Germany, most public colleges in Germany do not charge tuition fees to students. Furthermore, the country takes education very seriously because a large percentage of the country’s budget is dedicated to education. Due to this, the student gets the right to free and high-quality education.
Documents to open a German Blocked Bank Account
Depending on what country you’re from, you may be asked to supply different documents to have your blocked account application approved.
While some of the banks that provide blocked accounts for international students, may only ask to upload an image of your ID or passport, but some banks, may ask to provide more than that.
- A filled-in application form will be provided by the bank
- An image of your valid passport or ID card
- The admission letter from the university you’ll be studying at
- A recent bank statement
Why choose RemitX Blocked Account?
At RemitX, we understand the challenges of living and studying abroad. With our help, hundreds of students were able to open blocked accounts so that they could study in Germany. Here are a few things that make RemitX Blocked Account unique:
- Blocked Account Opening Made Fast & Simple
- Approved and trusted by the German Federal Foreign Office and German banks
- Completely technologically oriented
- The only Blocked account with an in-built local currency Funding option
- A guarantee of the highest security
- Provides a complete end-to-end solution
Procedure for opening a Blocked Account in Germany
Opening a blocked bank account in Germany as an international student is actually really simple. Most of the process can be done online and should not take more than a few minutes.
1. Choose your bank provider
2. Apply for a blocked account online through the bank’s website
3. Download and fill out an application form, if required. Not all of the banks will ask you to do this.
4. Deposit your funds. The current amount from 1st of January 2021 that must be deposited to a blocked account is €10,332, or €861 per month but you should always check before transferring any money.
5. Obtain confirmation of the amount that has been blocked. The bank will send this out to prove that you have set up a blocked account. You can use this document in your visa application.
Due to the high sums of money involved, it is strongly advised to fulfil all requirements of the entire process. You should be aware that the operation of Blocked Accounts is not regulated by law in all banks, so some banks may not offer this service. It is important to ask university representatives for a list of banks that offer Blocked Account services.
Thanks for Reading!
Forward this article to your friends who want to know the important aspects of GBA.