Blocked Account Made Simple: Your Ultimate Guide to Studying in Germany

Niyo for students
, , ,
1

Blocked Account Made Simple: Your Ultimate Guide to Studying in Germany


1600×538 916 KB


So, you’ve been accepted to study in Germany—congrats! But before you start packing your bags, there’s one crucial step: setting up a blocked account. Don’t worry, it sounds more complicated than it really is. Let’s break it down for you in simple terms, so you can get back to dreaming about your new adventure.

1. Blocked Account: What’s That and Why Do You Need One?

Think of the blocked account as your financial green card for Germany. It’s a special bank account where you need to store a certain amount of money to prove to the German government that you can support yourself while studying. Without it, your student visa won’t be approved. In 2024, you’ll need €11,904 per year to meet the financial requirement. But don’t worry, we’ve got the lowdown on how to set it up! Blocked Account

2. How Does the Blocked Account Work? It’s All About the Budget!

Here’s the deal: once you’ve deposited the required amount into your blocked account, you can’t touch it all at once. Germany allows you to withdraw a fixed sum each month (around €1,000). It’s like a built-in budgeting system to ensure you don’t run out of funds too soon and can live comfortably while studying.

3. Setting It Up: It’s Not as Hard as It Sounds

Setting up a blocked account sounds like paperwork hell, but it’s actually pretty simple:

  1. Pick Your Bank: Choose a bank that offers blocked accounts (Niyo makes this super easy).
  2. Get Your Docs Ready: You’ll need your passport, acceptance letter, and visa application form.
  3. Deposit the Funds: Transfer the required amount into the account.
  4. Confirmation: Once it’s all set up, you’ll get a confirmation and be ready for the next step!

It’s straightforward, but having the right help makes it stress-free—and that’s where Niyo comes in!

4. Niyo to the Rescue: We Make Your Blocked Account a Breeze

Here’s how Niyo takes the stress out of setting up your blocked account:

  • Trusted Bank Partnerships: We work with reliable German banks that specialize in student blocked accounts.
  • Zero SWIFT Charges: Transfer your money without the headache of extra fees. With Niyo, you pay zero SWIFT charges and enjoy competitive exchange rates.
  • Easy Peasy: Open and load your blocked account easily through the Niyo app or website—it’s fast and hassle-free.
  • Full Support: Need help? Our team is available every step of the way to guide you.

Blocked Account

5. More Than Just a Blocked Account: What Else Does Niyo Offer?

At Niyo, we don’t just help you with blocked accounts—we’ve got a whole suite of services to make your life easier while studying abroad:

  • Discounts on Exam Fees: Save on exams like GMAT, GRE, TOEFL, and PTE. Explore Test Offers
  • Application Fee Waivers: No more extra costs for university applications.Explore Fee Waivers
  • Fee-Free Transfers: Send money home without any hidden charges. Explore Fee Transfers
  • Student Loan & Accommodation Help: Get advice on loans and finding your perfect student accommodation.

Niyo is your one-stop shop for everything you need to make your study abroad experience smooth and stress-free. From finances to exams, we’ve got your back.

In conclusion, setting up a blocked account is a vital part of your journey to Germany—but with Niyo by your side, it’s quick and easy. Plus, with all the additional benefits we offer, you can focus on what really matters: making the most of your studies and your time abroad.

1 Like