All about Blocked Account in Germany for Indian Students

Students would need the admission letter from a university in Germany to open blocked account. Students can open blocked account in any bank in Germany. Once the student travels to Germany, the account can be transferred to a local branch near the university. Candidates should keep in mind that this is a mandatory practice applicable to all international students who choose to pursue higher education in Germany

Once the blocked account is opened, the bank would send a confirmation mail with the details to the German Embassy/ Consulate. This is essential for the student to get a German National Visa

What is a blocked account?

According to the prevailing economic conditions as well as the relevant fees structure, every university would request that a monthly sum is provided for the student to facilitate his living expenses in the country as well as for completing his education, this money is deposited in a Blocked Account. Starting September 1, 2019, this amount has been set at €10,236 for an entire academic year. This amount roughly translates to €853/month. For a student, this amount would cover accommodation, living expenses, and even travel pass costs.

A Blocked Account is a mandatory requirement and simply put, is a closed bank account in a German Bank. It is called closed because it comes with a standing instruction on the maximum amount the student can withdraw on a monthly basis – €853 (as suggested).

What documents are required for opening a German blocked account?

The list of required documents to open a blocked account may vary depending on your nationality and the bank account provider you choose.

However, you will mostly need these documents to open a blocked account in Germany

• An application forms
• Your valid passport
• The admission letter from your university
• A bank statement of your income
• A prepaid fee

How to open a blocked account?

Until a few years ago the Deutsche Bank has been the only option for international students to open a blocked account in Germany. Three more companies providing the service to open Blocked Account are:

Follow these steps to apply for your blocked account at the Deutsche Bank.

• Fintiba
• Expatrio
• Coracle

Follow these steps to apply for your blocked account.

• Fill the application form with your personal information
• Your valid passport
• Arrange an appointment at the German embassy and make sure you have the necessary documents.
• The embassy will complete legalization formalities and will send them to the bank in Germany.
• Your application will be processed.
• The bank will then leave you an email to confirm your blocked account is ready and will attach the details of it.
• Deposit your money and pay the bank’s initial fee.
• Finally, the bank will confirm the balance of your account.

Once the chosen Bank receives your application, they will inform you when your blocked account is ready to make a deposit.

How to transfer money to blocked account?

As soon as you receive the confirmation email, transfer the money to blocked account by using the international money transfer services of Orient Exchange. All you have to do is to provide copy of remitter’s passport, PAN, blocked account opening letter (provided by bank where account is opened) and university offer letter. Transfer Euro to blocked account at the best rate with assured service in 24 to 48 hours.

How to withdraw money from your blocked account?

Once you settle at a registered address, you can withdraw money from your blocked amount. However, that you won’t have direct access to your blocked amount in Germany. The only way you can withdraw your money is by opening an international student bank account in Germany where your blocked money will be transferred every month.

Currently, you’re allowed to withdraw a maximum of €853 per month (€10236 =10236/12 =853) unless you’ve deposited more money than the required minimum. This amount of money is transferred from your blocked account to your regular account (or international student bank account) from where you can freely withdraw your money.