Germany is one of the most impressive countries for higher studies. A large number of international students and researchers visit the country annually for their studies. But before their visit, most of the people lack the idea about Germany blocked account. Initially, the name might suggest that this is some sort of account that has been blocked. But in reality, the scenario is the opposite. A blocked account is a very special type of account that ensures your financial capacity. This is a must for the people who want to have a stay in Germany for higher studies. The account is applicable for those people who are applying for a residence permit or for a higher study in the country.
What is a blocked account?
Students and individuals who want to get an entry visa in Germany need a specialized account. That account is known as the blocked account. This is a must for them to own this account. When you are from a country which is not on the list of the European Union, you need to have it. This is a proof that you are financially capable to meet all your needs. And it also ensures that the individual would be able to carry out the daily expenses.
The deposit that the applicants keep in the account shall remain blocked. After they arrive in the country (Germany), they can use the account. Thereby, the name of the account is blocked account which many of the individuals are unaware of.
Why it is necessary?
A blocked account is proof against your claim of financial stability. Of course, you are to submit the other documents before applying for the entry visa in Germany. But with this account, you are proving that truly you have the ability to stay in Germany. And there would be no additional assistance will be needed. When you are submitting the details of your blocked account, the authority gets the idea about your financial stability. So, it becomes easier for them to allow you the visa or the residence permit in future.
Who needs it?
The blocked account is a must for every international students and individual. No matter, if you are a student, researcher, job seeker or seeking residence permit, you will need it. If you want to know more about higher studies in the country, click this link. Remember, you will need to use the account during your stay in the country, and you are to pay a monthly amount. This is the way of assurance that you will not need any support of the government. You can bear all your expenses. Opening a Germany blocked account is not free. The applicants are to go through a certain process. Following the processes, they can open the account and need to keep it alive.
How to open a blocked account?
Opening a blocked account needs certain measures to follow. It might take a couple of days to complete the entire process. Besides, the account also needs official approval from the German government. So, the process is a bit lengthy. This is not similar like opening a bank account for your regular transactions.
However, if you want to open a blocked account for Germany, you can get the support from Fintiba. This is a dedicated website that will guide you in opening the blocked account in a few minutes from home.
Requirements to open a blocked account
First of all, you will need a passport. Without a valid passport, this is not possible to open the account using Fintiba. So, before you take the move to have your blocked account, get your valid passport. Besides, you might also need other documents to provide. Get them ready too so that you can use them instantly.
Fill in the form
The entire process of opening a blocked account is simple. Firstly, you need to open an account using your passport at Fintiba. Fill in the application form. You have to provide your details like full name, address, passport number, and other contact details. Once you open the blocked account, you can transfer the amount too.
Once the account is opened, you need to deposit the money. After the deposit, you will get a confirmation. The confirmation will have the information to access your information from an online platform. The German embassy or consulate can have the access to know your details. However, you will get the confirmation once you deposit the blocked amount. Other than the deposits, this is not possible to have the confirmation.
Apply for visa
Now, this is time for the application. As you are a blocked account holder, you can apply for the visa. Regardless of your visa types, the process would be smoother when you are a blocked account holder. After you get the visa, you can transfer the monthly amount to any local German bank. It depends on your choice.
There are some other issues remaining to get a Germany blocked account. Once you get the visa and visit Germany, you need to complete the legitimation process or you can set up the payouts. When you are setting up the payout, you can use Fintiba WebApp to complete the monthly transactions regularly.
Besides, the amount of blocked account may vary. At present, the German government requires to deposit €10,236. The applicants can withdraw the amount in instalment every month. However, the amount differs based on countries.