Opening a blocked account is recommended for international students planning to go to Germany for higher studies. A blocked account is a source of funds that ensures a student has enough to cover their living expenses while studying in Germany. To open a blocked account in Germany, you must meet the following requirements:
- First and foremost, you must be admitted to the German University and have a valid University admission letter.
- Now, you can select the bank of choice among Coracle, Expatrio, Fintiba, Remitx, and ICICI. For example, if you have chosen Expatrio bank, now to open your blocked account, you must visit the official website of Expatrio and complete the online application. After completing the online application, upload the scanned copy of your passport and University admission letter.
- After all the documentation, the bank will send you the account details where you must deposit your amount of €11208 plus the program fee and buffer amount. For example, as mentioned above, if you select Expatrio Bank, you must deposit €11208 as the fixed amount, €49 as program fees & €100 as a buffer amount. You have to deposit €11357 to the bank account via wire transfer by authorized money exchangers by the RBI. You can contact Abroad Cube for the best exchange rates and quicker processing. They compare exchange rates from multiple vendors and provide the best quotation with no hidden charges.
- In the next step, the bank will issue you a Confirmation Certificate. You must show your bank while appealing for the current account.
So, these are some basic and essential requirements for opening a blocked account in Germany.
