Have you completed the checklist of to-dos before planning your studies in Germany? Everything from Infrastructure, fee structure, faculty, residence, application, and everything else has been covered, but hold on! The first and foremost thing you ought to check on is the proof of your financial resources before moving to Germany. This document is called “Finanzierungsnachweis” or proof of financial resources that is mandatory while applying for your visa and residence permit in Germany. The financial proof is the Blocked German Account that is opened to show financial stability for the entire stay in Germany. The Germany Blocked Account Amount for International Students at the disposal of one year is 10,332 euros, which is also called “Regelbedarf“.
Germany is an amazing country in terms of education and career opportunities. With over 300 renowned educational Universities, it has given access to international students on 15,000 recognized courses. But, for qualifying to study the courses, it is mandatory for you to obtain a German students visa first. While students from some countries require a visa, students from some countries do not need it.
The students from nationals of the European Union, Norway, Switzerland, Iceland, and Liechtenstein, Australia, Canada, Israel, Japan, New Zealand, United States of America, and South Korea, do not need a visa to study in Germany while they still need a residence permit.
The major eligibility to fulfill the criteria of getting a student visa is presenting the Blocked German Bank Account as the proof of financial resources for financing the study and stay in Germany (depending on the tenure of the program).
Where Can You Find The Best Guidance For Studying Abroad?
Udrus is one such platform that aims to offer thousands of overseas student’s easy access to education in their dream University worldwide. From simplifying the application acceptance to qualifying the eligibility criteria, acknowledgment about the scholarship schemes and admission success, the team of experts look into ringing the aspirants under one roof to offer the higher educational degrees from Bachelor’s, Master’s, and PhD. Search the right universities that have the programs or disciplines that you want to further pursue to build your career, and the team of Udrus gets you the right counseling, professional guidance, visa assistance, and residence permit facilitation in association with dROP MONEY.
Procedure to open a Blocked German account for Study Visa
The processes to open a blocked german account have become digital. Read the processes below to understand how to open a blocked account for Germany.
1. The candidates who wish to open a blocked account can approach Udrus who in association with dROP MONEY will help you fill the application form for the same.
2. Once the form is filled, the students are required to present all the necessary documents required to be presented for the verification namely, valid passport, and admission letter from the aspired German University, a prepaid envelope, bank statement, and application form.
3. Once they are verified at the German consulate, the aspirants need to deposit the minimum standard amount for opening a blocked account in Germany, depending on their stay. Blocked German Account Amount 2021 amounts to 10,332 euros.
4. Post all these processes, students will receive the confirmation of payment and from then the account comes into operation in the next few working days.
Read More: How To Apply For German Student Visa?
How To Apply For The Best Blocked German Account ?
People who want to study or work in Germany must apply for a blocked account and the prior rule to this is an early application. To finance their studies and stay in Germany, the overseas students are required to show their blocked account that has restricted withdrawing policies.
- Apply Early: You must apply early for your blocked German account, online. You have to make the right choice of who provides you the blocked account before you move to Germany.
- Document Verification: Whether you apply online or with some local bank, you have to get some of the fundamental documents verified from the copy of your passport, application form, bank statement stating the eligible amount of money that should be present in your blocked German account, educational qualification from the previously recognized university, scholarship certificates, LOR (Letter of Recommendation) from the previous recognized University/educational institute.
- Open your Blocked German Account: If you want to open your blocked German account, all your documents need to be in order and a deposit of at least 10,332 euros into the account.
- Money Withdraws: Once you arrive in Germany, you would need to qualify for some eligibility to withdraw the desirable finances. Firstly, you will have to make an appointment in a branch office of your bank. You will be offered an EC card that you can further use to withdraw the money. Although there is a restricted amount that you can withdraw money (maximum of 861 Euros per month).
Read More: Top 17 German Study Visa Requirements
How Long Does It Take To Open A Blocked German account?
If you opt for the online process, you will have your account opened in just a few minutes. Within 24 hours you are likely to receive a Blocked Account Opening Confirmation document. It takes 2 to 5 working days for making the blocked German account to become functional. By the time your visa is approved, your blocked German account will be valid from the time you arrive in Germany.
Udrus Drop Money Blocked Account Services
For all your blocked German account queries and formalities you can reach out to the team of Udrus who look into the matters of offering you the 100% accredited, safe and secure mode of financing.
While you find it difficult to select from the different schemes offered by Udrus dROP MONEY for your financial resources, you can touch base with us to come into counseling where you can understand and decide on which among the Blue, Gold, or Platinum package of blocked account you should opt for. With any of the chosen packages of German blocked accounts, you will be offered travel insurance that you can later transfer into private health insurance. Furthermore, you also gain access to create a free Revolut current account with the dROP MONEY blue account. All of these are entirely free of cost.