You are going to Germany under a student visa or other types. You must prove you have enough funds to cover your expenses. A Blocked Bank Account is a way to prove your financial independence. You’re wondering about all the red-tape. But, there is nothing to worry about.
This article will explain what a Blocked Bank Account needs it, why you need it, requirements, how to open one, FAQs, and more.
What is a Blocked Bank Account?
A Blocked Bank Account is a tool to prove you have enough money for a Germany visa. You need it for a German student visa and the residence permits. You can transfer the money you need to the account. Then, withdraw the amount you need for your expenses per month. It is safe and reliable.
Do You Need a Blocked Bank Account?
The definite answer is yes. You have to hold a Blocked Bank account to apply for the following Germany visas:
- Germany Jobseeker visa
- Germany student visa
- Germany language course visa
A blocked bank account is one of the requirements for the above Germany visas. When you apply for one of Germany residence permits, you have to hold a Blocked bank account. Although a few countries do not need a visa for Germany, they need a residence permit for long stays. So having a Blocked bank account is mandatory. So it is for the below countries:
- New Zealand
- South Korea
- The US
Remember that your application will get rejected if you do not have enough funds to cover your expenses.
How do I Open a Blocked Bank account through Deutsche Bank?
Opening a Blocked Bank account through Fintiba. However, it is wholly bureaucracy through the Deutsche Bank. There is nothing online. You have to complete the procedure through the German embassy or consulate. The required processing of time is 2-3 weeks. Yet, it could take longer, and you should expect it. Also, you should have the documents legalized before submission.
The process is as follows:
1. Application form
Download and complete the application form for the Blocked bank account. There are different sections you have to complete. Be careful to complete every part. Also, you have to provide the correct and true information. What you fill in must be identical to the visa requirements.
Once completed the form, print it TWICE. But DO NOT date or sign it. Leave the sections for date, place, and signature empty. You will date and sign the application at the German embassy or consulate. The German embassy must legalize the application form.
Collect all the requirements for a Deutsche Blocked Bank Account. They are as follows:
- Application form
As explained earlier.
Not only the valid passport but two copies.
- Acceptance letter
Provide the letter that proves your admission to a German university/education center.
It could be from one of the below services:
- Proof to have enough funds
Submit all the gathered requirements to the German embassy or consulate in your home country. The German embassy will send your documents to the Deutsche Bank, and they process them. The processing time could take a few weeks.
The Deutsche bank will send you:
- IBAN (International Bank Account Number), or
- BIC (Bank Identifier Code)
You have to choose one of them to receive the confirmation code. You receive the code through your email address.
Transfer the required amount one money to the Blocked Bank Account in Germany.
When the Deutsche bank receives the money, they will notify you through your email address. You can begin/continue the application process of your visa.
Note: The processing time to open a Blocked Bank Account in Deutsche is long. Make sure you start the procedure early enough.
You could also apply through the Deutsche bank branches in your home country. It is much faster and easier.
How to have access to a Blocked bank Account?
When you receive your Germany visa and enter the country, open a bank account. You could do it at any bank you desire.
Fintiba will transfer the money from its account to the new bank account. You can have access to money through the new bank account.
When should I Open a Blocked Bank Account?
A blocked bank account is one of the essential requirements for the Germany visa. It proves you have the required amount of money to cover your expenses. It could take some time to receive the confirmation for the account. So, apply as soon as possible. An Acceptance letter is essential when you apply for a Germany student visa. When you receive the letter, begin to apply for the bank account.
Can I Have Access to the Money in a Blocked Bank Account?
No. You do not have access to the deposited money in the Blocked Bank Account. You have to open another bank account in one of the German banks. The bank does not matter.
The money you need every month for your expenses will get transferred to the new bank account.
What Happens to the Money in a Blocked Bank Account if the Officials Reject your Visa Application?
The officials have rejected your application. What happens to the money you have deposited into the bank account?
Well, you should provide the denial letter from the German embassy or consulate. It must have the official stamp of the embassy. You send the letter to Fintiba or Deutsche Bank. They will unlock your account; you can have access to your money. Also, they might transfer the money back to your account.
Can I Have Access to the Blocked Bank Account After Leaving Germany?
Yes. When you want to leave Germany, you need an official letter from the German Foreigners Office (Ausländerbehörde). You send it to the bank. They will move the money back to the original bank account.
Blocked Bank Account Fees/Cost
The fee or cost for a Blocked Bank Account depends on the method you pick. The fee for the Fintiba bank account is:
- The initial pay of 89 EUR
- The monthly pay of 4.90 EUR. It is the maintenance cost of keeping money in the account.
The fee for opening a bank account through Deutsche Bank is:
- The initial fee of 150 EUR.
- The monthly pay of 5.90 EUR. It is the maintenance cost of keeping money in the account.
Remember, the price could change. It also could differ depending on the country you live in.
Is there an Age Limit over Blocked Bank Account?
Yes and No. You have to reach the consent age (18) to get a Blocked Bank Account through Fintiba.
There is no age restriction over Blocked Bank Account through Deutsche Bank.
Can Someone else Deposit money for my Blocked Bank Account?
Yes. Others can deposit money into your Blocked bank Account. But, you have to give them permission/authorization to do so. The bank will help you with doing this part. Also, the person must prove his/her identity.
How much Can I Withdraw from the Blocked bank Account?
You have permission to withdraw 853 EUR Per month for your expenses. It will get transferred to your new bank account.
What if I Need More Money?
If you need more than 853 EUR per month, you have to request it from the Immigration Authorities. They will grant permission to withdraw more money.
Blocked Bank Account Processing Time
The processing time for a Blocked Bank Account depends on the way you choose to open an account. As opening a Blocked Bank Account through Fintiba is online, it is quick and easy. The processing time is minutes. Yet, the required processing time for Deutsche Bank is 2-3 weeks.
Let’s sum up…
In this article, we explained all you should know about a Blocked Bank Account.
We explained who needs a Blocked Bank Account, requirements, the application process, the ways you could do it, FAQs, and more.
You could prove to have enough funds for Germany visas through a Blocked Bank Account.
Visit the left-sidebar to receive more information about other types of Germany visas.
You need to know about other country’s visas? Go through the home page of the Visa Library.
If you have experience or knowledge about visas, write them down as comments. They are great to help and tips for applicants.