Blocked account: key to studying Germany
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Did you know that 90% of international students in Germany use a blocked account to obtain their student visa? This surprising fact reveals the crucial importance of this financial requirement for those who wish to study in the European country.
The blocked account, or “Sperrkonto” in German, is a fundamental element in the process of obtaining a student visa to Germany. It serves as a financial guarantee for the German government, ensuring that students will have sufficient resources to support themselves during their period of study in the country.
What is a Blocked Account?
A blocked account is a special type of bank account required by the German government for international students. It acts as proof that the student has sufficient funds to cover their living expenses during their first year of study in Germany.
The main purpose of this account is to ensure that international students can support themselves financially without relying on labor or social assistance from the German government. This helps prevent financial difficulties and ensures that students can concentrate on their studies without excessive financial worries.
How does a Blocked account work?
The locked account operates in a unique way, designed to provide security for both the student and the German authorities. Here's a summary of how it works:
- The student deposits a pre-determined amount in the blocked account before applying for a visa
- The total amount deposited must cover the estimated expenses for a year's stay in Germany
- Once in Germany, the student receives a fixed monthly allowance from this account
- Access to the full amount is restricted, avoiding excessive spending at the beginning of the stay
- Study and Work in Germany it becomes easier with this system, as it guarantees a more controlled financial management
This system ensures that students have a constant flow of resources throughout the year, helping them to better manage their finances during their stay in Germany.
Required amount for a Blocked account
The amount required for the blocked account is updated periodically by the German government. Currently, the amount required reflects the estimated cost of living for students in Germany for one year.
For the year 2024, the minimum amount required for the blocked account is €11,208 per year, which is equivalent to €934 per month. This amount is based on the BAföG fee, which is the German standard for student aid, and takes into account expenses such as rent, food, health insurance and other essential costs.
It is important to note that this amount may vary depending on the city where you are going to study, as the cost of living may be higher in some regions of Germany.
How to open a Blocked account
Opening a locked account may seem like a complex process, but with the right information, it becomes quite accessible. Here are the main steps to open your locked account:
- Choose a bank: Select a German bank that offers blocked account services for international students.
- Gather the documents: Prepare your passport, proof of acceptance from the university, and other documents required by the bank.
- Complete the form: Complete the account opening form, which is generally available online.
- Identity Verification: Perform the identity verification process, which can be done at a German embassy or online.
- Transfer funds: Once the account has been approved to open, transfer the minimum amount required.
- Receive confirmation: The bank will send a document confirming the opening of the account and the deposit, necessary for the visa process.
Managing your Blocked account
Once you've opened your blocked account and arrived in Germany, it's important to know how to manage it efficiently. The account is designed to release a fixed monthly amount, generally transferred to a regular checking account that you will open upon arrival in the country.
It's crucial to keep careful control of your finances, as the monthly amount released should cover all your basic expenses. Financial planning and budgeting are valuable skills you'll develop during this process, preparing you not only for your student life but also for future financial challenges.
Be Easy
Ready to embark on this exciting journey towards studying in Germany? A Be Easy Exchange is here to help you every step of the way, including opening your locked account. Our expert team can guide you through the process, ensuring that you meet all the financial requirements for your student visa. Don't let technical details stop you from realizing your dream. Contact us today and take the first step towards your international education in Germany. Your bright future starts here!
