The opening of a bank account the so called “Studentisches Sperrkonto” is one of the most important step when applying for a German visa student. As a foreign student in Germany if you are not financially backed up by a sponsor it is mandatory to open a student blocked bank account upon your arrival in Germany. The opening of the bank account is to prove that you have the required credit balance to finance your study and costs of living once in Germany.
The credit balance on student blocked account for visa applicant students has been recently increased. From March 1, 2021 all applicants for a German student visa have to present proof of an opened blocked bank account with the required amount of 10.332 Euros (861.00 Euros per month) during their interview appointment along with evidence of the origin of the funds (e. g. bank statements, pay slips, company registration documents).
Why is it so important to have a bank account upon your arrival?
Germany is like all the European countries moving to a cashless society. Most of the financial transactions are done digitally so having your own bank account will make life easier for you in term of enjoying services. With your German bank account, you can automatically schedule the payment of your monthly rent, health insurance, telephone bills, receive your salary in case you have a part-time job. You can transfer your semester contribution to the university electronically after enrolment. You can also withdraw money from cash machines free of charge if needed.
After you arrive in Germany you can get from your bank an EC Card with which you can pay contactless for all kind of goods and services. While you are on holiday abroad the EC card also permit you to pay for goods and services in all the other countries of the European union without any additional charges.
Conclusion: If you’re planning on staying longer than 90 days in Germany, you should definitely open a bank account. They are usually free of charge for students. We can help you to open you bank account upon your arrival in Germany and deliver the proof of blocked bank account which you will need during your visa application at the German embassy.
Visit our prices and services here. We will be delighted to set up a free appointment video-call with you to answer all your questions and guide you through the process.