Blocked Account in Germany
Student Blocked Account in Germany 2024 (Latest Update)🇩🇪
As an Aspiring International student in Germany. One of the most important things to consider foremost is to manage your finances or expenses. That will majorly consider your living expenses in Germany. That is the biggest factor to carry yourself to study in Germany. In a way you need to provide Guarantee that you have enough financial means to support yourself financially when living in Germany for your education purpose. This criteria of fixed amount based on the average monthly expenses estimated by the official itself after every amendment in the expenses breakdown criteria.
This can be done in the most common and accurate way by Opening a Blocked Account. Which is commonly known as “Sperrkonto” in Germany. Many of you may be confused about what is a Blocked Account? A Blocked Account is a specialized Account in which a certain amount of money is “Blocked” which will partly get back to you once you reach Germany after your Visa Approval from your country. This Financial proof considers a crucial document for students visa application as sufficient financial proof.
The Government Bodies of Germany limits and Reviews the regular monthly expenses. The Changes have been drastically made in the last following year due to Increase in the living expenses in Germany. Latest changes announced in October 2022 and monthly blocked account raise to €934. This amount strictly followed from January 1,2023. The overly blocked account leads to €11208 that needs to be blocked. For 2024 there is no such update release for the further amendment for the blocked account amount.
These changes need to be kept in mind for the International students applying for a German Student Visa for 2024. You should choose the Blocked Account provider wisely for your convenient process and secure finances.
WHICH IS THE BEST BLOCKED ACCOUNT FOR GERMANY?
There are two most popular blocked account providers in Germany which are incredibly trusted by 100,00+ students. Which are Fintiba and Expatrio. Expatrio is a very popular and convenient option for students.
Expatrio Guide How to open a Blocked Account.
If you need to open a blocked account you need to follow these steps out:
- Complete the Expatrio questionnaire to choose your provider, The questionnaire asks you to estimate when you’re going to Germany and your age.
- Decide how much amount you’re prepared to pay (For students it’s Recommended and Compulsory 934 Euro monthly approx 11208 Overall ). The amount to be deposited depends on how long you plan to live in Germany.
- Provide your data into the given form on the website or application. After you have set up your price, click on ‘Apply Now’ and move forward to enter your data , Education details and address.
- Attach a scanned copy of your passport (According to the instrucations).
- Confirm and submit the application.
- It takes a maximum 24 hours for the blocked account to open and get approved. You will receive an email with your International Bank Account Number (IBAN) and other details required for money transfer. Also you can check the My documents option in the menu on the web or application.
- Transfer the amount using the IBAN provided by Expatrio ( It is your account number for Expatrio Blocked account integrated with the European bank ). The Europe-to-India money transfer took only one day to complete.
- Wait for your Blockversicherungsbestätigung ( Blocked Account Confirmation) and your visa. Once you have money in your blocked account, you will receive the Block Versicherungsbestätigung( Blocked Account Confirmation stating the amount in the account). You are recommended to attach this file to the Embassy for Visa related documents under the financial proof.
- Apply for your German Student Visa
- Travel to Germany
- First thing to keep in mind after arriving in Germany you need to Register yourself within 14 days of moving in your apartment but a maximum of 3 months might work. To open current account and get monthly payouts, you certificate of Address registration commonly known in Germany
(Anmeldung)
- Open Current Account and update in Expatrio to get payouts. Once you have opened and updated your current account you will start receiving your money every month.
Need blocked account and free current account assistance.
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