Ready to apply for your German student visa? Then you have reached the ominous stage where you need to deposit a huge amount of money into a German blocked account to start your journey as an international student.
Now, even though we say ominous, Team Coracle firmly believes that the process of putting your money in a blocked account doesn’t have to be difficult. That is why we created a 5 step process to help you understand the process of safely transferring your sum into a German blocked account you create.
Interested to get the low down on how to do this easily? Follow along!
1. Research German Blocked Account Providers
The first step to opening a blocked account is finding the right provider who meets all your needs and preferences. While most have similar offerings with minimal changes in criteria, pricing and options to choose from, you must be well aware of what you need that most from your provider before you make a selection.
Through our research and experience, we compiled a set of 5 criteria that you need to look at when selecting your provider — service fees, ease of application, customer support, ease of funds transfer, prime package benefits and account activation on arrival. Read our detailed explainer on how to select your German blocked account provider here.
2. Make Your Selection
Once you have finished your research, it must be fairly easy for you to find a blocked account provider who fits your needs. Weigh your options carefully and deep dive into their reviews and customer testimonials before you make the final decision.
A great place to know if your preferred provider is worth the money is looking at their Google and Facebook ratings and reviews. You can also reach out to other international students from your Uni or town to ask their opinions. Moreover, if you feel like you need more information about the product, you must reach out to their customer service with your questions and get a feel of how best they can assist you.
3. Fill In Your Details
After you have done the difficult work of researching and selecting a service provider, the next steps get much easier. Opening your blocked account online shouldn’t take you longer than just 5–10 minutes. If you have all your important documents such as your acceptance letter and passport handy, you can get started with filling out the forms.
The details that are asked of you at this stage can range from personal details to identification details as well as your uni documents. Once you have uploaded everything, you should get a confirmation of opening your blocked account along with your IBAN and BIC. With this, you can move on to the next stage.
4. Transfer Your Money
The fourth step is completely in your and your sender bank’s control. You need to transfer your money from your bank account in your home country and wait for the money to reach your blocked account. You must share your IBAN and BIC code with your sender bank at this stage.
If you want to speed up the process, you can use the help of money transfer portals like RemitNow. For instance, Coracle users in India can transfer their money using this service, ensuring that the money enters the blocked account in around 2 hours.
5. Wait For Your Confirmation
The final step is for you to relax and prepare for your visa appointment. After you have initiated a transfer to your blocked account for an amount of €10,332, you need to wait for your sender bank to process it. In the meantime, your blocked account provider will send you a notification as soon as your money is received by them.
A bank statement and confirmation will follow. This document is the one that is needed for your visa appointment. You must print it out and take it along with your other documentation.
Following these simple steps to get your blocked account is bound to ease your stress as well as organize your preparation for travelling abroad. Make sure you take your time to understand the process and finish each step with proper documentation. And if you need help opening a blocked account, visit us here!
