Suppose, you are planning for higher studies in Germany. In this case, the blocked account may be an obstacle for you. No worries! Today I am going to write in this article about some of the substitutes for blocked accounts. Go through till the end to know explicitly about higher studies in Germany: Blocked account substitutes.
One of the main dreams of current students is to study in developed countries to achieve their life goals. If that country is a country like Germany where most universities have no tuition fees, then undoubtedly, it can be said that the country is on the list of students’ preferences for higher education.
However, many students cannot come because they think that a Masters or Ph.D. abroad -these study programs for brilliant students. It is not possible for them. But, this is a misconception. It is possible to study in Germany, the desirable higher study destination if you move forward step by step with indomitable willpower and the right direction.
Just as there are endless possibilities for different types of scholarships for the meritorious, there are also many opportunities for average students. How? Before going details, let’s be acquainted with a blocked account as well as the core cause why is it required?
What is a blocked account?
One of the main conditions for obtaining a national visa in Germany, along with other documents, is a blocked account. Before coming to Germany, international students have to block 10,236 Euros in a German bank.
Why is it required?
It is like security-money, which is proof that you have enough money to cover your living expenses until you get a job in Germany. From this account, you can withdraw 853 Euros per month and remit the full amount to the country after one year (if not spent). If you can’t come to Germany for any reason, then no worries, the German bank will give back this money.
Which are the most convenient ways to open a blocked account?
DeutscheBank, Fintiba, Expatrio, or Coracle. According to my suggestion, Fintiba or Expatrio. This is because of the easy process and the cheapest option for the Value package.
Is Coracle Blocked Account Secure?
Yes, their blocked account process is also simple and secure.
Is Fintiba a bank?
No, Fintiba is only an intermediary between you as the customer and Sutor Bank. Every blocked account opened via Fintiba is opened with Sutor Bank which is a private bank based in Hamburg, Germany.
How would I unblock my blocked account?
Contact your bank directly to unblock your bank account. There may be many reasons for the account to be stuck. For example, third parties may try to fraudulently access your account. So, talk to your bank and solve the problem directly.
Blocked account options
Is it possible to study in Germany without a blocked account?
The answer is: Yes! It is possible if you can meet any of the requirements mentioned below.
The two main scholarships for coming to Germany are the DAAD and Erasmus Mundus Scholarships. You must have work experience for DAAD. You can find out more about Erasmus Mundus scholarship from this article. Erasmus Mundus Scholarship – facts and figures to know
Besides, a few scholarships are awarded from the university. Applications for these funds can be made from the second semester. There are also opportunities for research assistantships that can be obtained at the Masters, but most likely at the Ph.D. level.
Sponsorship/fellowship from a private institution
Scholarship must be obtained from a reputed government educational institution. For example, DAAD. If you are unsuccessful, you can apply for a sponsorship/fellowship from a private company or non-government institution. Such as Max Planck institution, AIGS, etc.
AICGS offers several fellowships. This includes a monthly stipend of up to 3,204 euros. Of course, it depends on the seniority of the applicant. Obviously, Preferable applicants are experienced individuals in leadership roles in the job field.
Moreover, there are two other ways. For instance,
You can apply for higher education in Germany if you are guaranteed a government fund or an approved student loan. However, this loan is for a limited period or specific certain likewise pandemic situation which is being provided by the German state-owned development bank KFW at a low-interest rate.
Invitation letter from a friend or relative
You can also come to Germany for higher education through an invitation letter from a friend or relative living permanently in Germany. This document called Verpflichtungserklärung there.
If you do not succeed in any of the above ways, it is mandatory to open a blocked account to study in Germany. You can read this article read this article to know the details of how to open a blocked account and which is the best-blocked account in Germany?
Numerous international students are being admitted to higher education every year in developed countries like Germany. They will occupy important places in the world in the near future. Any student will be able to occupy the important roles in the next world only if he/she can use all the qualifications he/she has with strong will power. Moreover, try to follow the above-mentioned guidelines.
Hopefully, this article has made it very clear about how to study in Germany without a blocked account. I believe that the answers to all your questions are in this article. However, if you think some information is missing, you can highlight it through the comments below. I am also looking forward to your thoughtful comments on the article. If you like the article and find it useful, don’t forget to share it with your friends. This step of yours may help another student as well. Good Luck!