Blocked Account in Germany in 2024 | Everything you need to know

Showing the proof of finance is one of the requirements for the visa application. The best way to do it is with Blocked Account. Not only it is very easy, it is also very practical. Here’s how you can open Blocked Account in Germany in 2024.

Going to study in Germany requires you to showcase financial stability during your stay. This includes covering both the cost of tuition and living expenses. In this article, we will explore the process of opening a blocked account in Germany in 2024, alternative options available, and effective ways to manage and earn your funds while pursuing your studies in the country. By following the information outlined in this article, you’ll be well-prepared to finance your education and daily expenses during your time in Germany.

What is a Blocked Account?

A blocked account is a financial instrument designed for the international students traveling to Germany. The account is used to demonstrate to German authorities that the student has the financial means to support themselves during their stay. Upon opening the account, the funds will be temporarily “blocked” and only a set amount will be released to the student each month to cover their living expenses.

As of January 1st, 2023, the German consulate in India requires that a minimum of 11,208 euros be deposited in a blocked account for students. This amount will be made available to the student over the course of 12 months, ensuring they have the necessary funds to sustain their life in Germany.

Why is it necessary?

As an international student traveling to Germany for your studies, it’s important to demonstrate to the government that you have the financial means to support yourself and will not become a burden on the state. This not only helps ensure that you can focus on your studies without worrying about finances, but it also provides peace of mind for you and your family.

Having sufficient funds for your stay in Germany also enables you to fully immerse yourself in your academic pursuits and cultural experiences, without the added stress of financial uncertainty. At the end of this article, I’ve shared some tips to help you ‘refill’ the funds so that you have the financial support you need to succeed in your studies and personal life.

How to open a Blocked Account in India?

Alright, now that we have a solid understanding of what a blocked account is and why it’s important, let’s dive into the steps to open one. Here’s a comprehensive guide to help you open a blocked account with ease:

1. Search for banks or financial institutions that offer services for German blocked accounts.

After conducting some research and personal experience, I highly recommend Expatrio as a reliable platform for opening a blocked account. Not only have I used their services for my own blocked account, but several of my friends have also had positive experiences with them. To add to their credibility, Expatrio is officially approved by the German Federal Foreign Office, which further solidifies their trustworthiness in providing blocked account services.

Steps to open your Expatrio account

1. Visit Expatrio’s website.

2. Go to the User Portal and create a new account. You also have the option to log in with Google and follow the simple steps provided.

3. After entering your details such as your what your occupation in Germany will be, your date of birth, and country of residence, you can proceed to the “Blocked Account” option.

4. You will be asked to complete a short set of questions, where you need to specify the amount you want to deposit in your blocked account. According to the German Embassy in India, the minimum amount required is 11,208 Euro. With all the fees and buffer amount, this comes to a total of 11,417 Euro.

5. On the next page, select all the necessary options, such as a Current Account and Health Insurance. Expatrio takes care of your Health Insurance, and you won’t have to pay for it upfront. The charges will be deducted monthly once you reach Germany. If you prefer to get health insurance from another source, simply unselect this option.

6. Choose the health insurance package that suits your needs. If you’re not sure, you can opt for the Comfort package and change it later when you reach Germany. (Only if you opt for health insurance from Expatrio.)

7. Fill out your personal information and complete the questionnaire.

8. You’re all set! The final step is to transfer the funds to your blocked account.

2. Process of transferring funds from your bank to Expatrio

Now that everything is set up and ready to go, it’s time for the final step of transferring the funds to your blocked account, where it will be locked until your arrival in Germany.

1. Navigate to the Expatrio User Portal and click on the “Blocked Accounts” tab. From there, you can initiate the transfer by clicking on the “+ Initiate Payment” button.

2. In the next window, select the country from where you will initiate the transfer.. This will be the country from where you will transfer the funds to your blocked account.

3. Choose the amount you want to transfer, in this case 11,208 Euro, and carefully read the instructions provided in the next window.

4. Choose the payment method that works best for you, which may include Expatrio Payment options (Domestic and International) or International payment methods.

5. After successfully completing the payment process, you can access the necessary information to initiate a bank transfer by navigating to the “Go to my payments” section and selecting the relevant payment. From there, you can download a document that includes important details such as the IBAN number and the name of the account holder.

6. After the funds have been transferred, upload proof of the transfer to the Documents section. The funds should reach your blocked account within 1-5 business days. Once the funds have arrived, you will receive a “06 Blocked Amount Confirmation” document, which you will need to bring to your visa appointment as proof of your financial means.

Alternatives to Blocked Account

• Scholarship: If you have been awarded a scholarship that fully covers your tuition fees and living expenses, you will not be required to open a blocked account.
• Financial support from parents: You can provide proof of your parents’ income to demonstrate that they are capable of supporting your studies.
• Support from a relative: If you have a relative living in Germany who is willing to finance your studies and living expenses, you will not need to open a blocked account. This can be done through an official document called a “Verpflichtungserklärung.”
• Bank loan: You can also obtain a loan from a bank, which can act as a guarantee for your financing.

Money management tips for students

Shared Apartments

One way to save money as an international student in Germany is to opt for shared apartments instead of private ones. Not only are shared apartments more cost-effective, but they also provide the opportunity to socialize and make new connections with fellow students, including those from your home country. If you’re looking for a budget-friendly living option with a built-in social aspect, a shared apartment may be a great fit for you.

Part-time jobs

If you are moving to Germany with a student visa, you will have the opportunity to work part-time during your studies. This will allow you to earn additional income and gain valuable work experience while pursuing your studies. To ensure that you can take advantage of this opportunity, make sure to start your job search within the first month of your arrival in Germany. Don’t wait until later, as the sooner you start, the more opportunities you may have to secure a part-time job.

Learn to cook

Learning to cook is an essential skill to master if you plan to study abroad, especially as eating out can become a significant expense. By cooking at home, you can save a considerable amount of money and also enjoy a wider range of healthy and customizable meals. There are numerous resources available online, including recipe sites and cooking tutorials, that can help you hone your culinary skills and provide inspiration for your next meal.

Utilize Public Transportation

As a student in Germany, you have access to the public transportation system, which is often included in your semester fees. To take advantage of this benefit, make sure to carry your student ID card with you when you travel. It’s important to note that the conditions for free public transportation for students may vary by state, so it’s advisable to check with the local public transportation authority in your city for the most up-to-date information.

Seek Out Discounts Available to Students

As a student in Germany, it’s essential to take advantage of the numerous discounts offered by various companies. Don’t forget to keep an eye out for these opportunities and make the most of your student status to save money and make the most of your experience.

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