07 Dec 2019

GERMAN BLOCK ACCOUNT REQUIREMENT

GERMAN BLOCK ACCOUNT REQUIREMENT.

A blocked account is a special account that is required from student. It is necessary for student visa application in Germany as it will serve as approve of the student financial capability.

With a blocked account, you can provide evidence during the visa application process that you have adequate financial resources to take care of your living expenses. If you are a foreign student who is not from an EU Member State, you must prove that you have the financial resources to pay for your course of studies/stay in Germany as well as for daily life expenses during the time of your stay. It is usually required to provide a ‘Proof of financial resources’ when you apply for an entry visa.

The blocked account must have sufficient credit in order to cover the costs arising for the duration of your stay in Germany, unless other proof of financial support is presented in the visa procedure. From 1 January 2020, the presumed annual requirement that must be paid into the blocked account when applying for a visa will increase to 10,236 euros. This increased amount applies to all visa applications submitted from 1 September 2019.

NOTE: The blocked amount deposited in the account will remain blocked until the account holder arrives in Germany. There are limitations on the amount that can be withdrawn or transferred by the account holders within a defined period of time. Currently, account holders are only permitted to withdraw a maximum of €720.00 per month from their account. But subsequently, the maximum amount will be 853 Euros per month due to the upcoming change with effect from 1 September 2019.

You can choose yourself where to set up your blocked account. It is important that the following conditions mentioned above are met.

Leave a Reply