Blocked Account FAQ

A Blocked Account is a special type of Bank Account in Germany, specifically for International students who want to study there. A specific sum of money would be deposited per year into the Blocked Account. This money will be used for covering the monthly expenses of the student during their study period in Germany.

From Sept 1 2024, for students going to Germany for their studies, the minimum amount to be deposited into the Blocked Account has been set as 11,904 Euros annually.

The Blocked Account acts as proof of funds for your studies in Germany when applying for a German Student Visa. Students must open a student bank account once they reach Germany.

Depending on how much money the student has deposited into their Blocked Account (minimum 11,904 Euros), every month an amount (992 Euros, if the minimum amount was deposited) will be sent to the student account to cover their living expenses.

Once you receive your admission letter from a university in Germany, immediately apply to open a Blocked Account. A Blocked Account is one of the most important steps to complete before applying for a German Student Visa.

It depends upon the bank where you are opening an account and also when you are opening an account. Usually, it takes about a week. However, during the admission season when International students are coming to study in Germany, it may take as long as 1 month to get the application processed. So it’s best to start the process as early as possible.

The maximum amount of money an Indian Resident can transfer from India to Germany in a single financial year is US $2,50,000. This limit is defined by RBI under the LRS Scheme. Also, the reason for remitting money must be as per RBI’s acceptable remittance reasons such as study abroad, medical treatment abroad, maintenance of close relatives abroad etc.

Yes, third-party transfers to a blocked account are possible from India. For example, you can transfer money to your blocked account via ExTravelMoney. In the A2 Form, your name will be given as the remitter and the same will be reflected in the SWIFT Copy which is generated after the transaction completion. You’d be submitting this SWIFT Copy as proof of payment to the blocked account provider.

When you receive an account opening letter for a Blocked account there will be a clause given.

If it’s mentioned that the first transfer should be directly from the student’s account or that parents or 3rd party transfers are not allowed to transfer, then the transfer should happen from the student’s bank itself (even in such cases, we’d be usually able to help).

However, after the first transaction, we would be able to make a transfer to a Blocked account.

This varies according to the rules provided by the bank where you are having your Blocked account.

Through ExTravelMoney, easily send money from India to Germany.

Just visit our website;

1. Enter the amount to be sent to your Blocked account
2. Enter your location in India to compare rates of RBI authorized exchange houses & banks in your area.
3. Choose the best option and place your order
4. Upload the required KYC documents for verification

Once the KYC is verified, you can transfer the funds directly to the exchange house/bank's account as NEFT/RTGS transfer.

Your money will now be sent as “Wire Transfer” to the Blocked account in Germany. Your blocked account will receive the credit within 48 working hours.

Yes, third-party transfers to a blocked account are possible from India. For example, you can transfer money to your blocked account via ExTravelMoney. In the A2 Form, your name will be given as the remitter and the same will be reflected in the SWIFT Copy which is generated after the transaction completion. You’d be submitting this SWIFT Copy as proof of payment to the blocked account provider.

1. Valid Photo ID and Address Proof of Sender (Passport / Driving Licence / Voters ID)
2. Indian Passport of the student
3. Pan Card of the sender
4. University Acceptance Letter
5. Blocked Account Opening Letter

Note: The sender must be the student or his/her parents.

While visa rejection is rare, sometimes it could happen for a variety of reasons. In such instances, the funds in the Blocked Account would be refunded to the student.For this, the student would have to contact the Bank where they applied for the Blocked Account and personally raise a refund request. Certain documents like Visa Rejection may be required by the bank for processing the request.

Yes, your Blocked amount will be refunded in case your Blocked account application or Germany student visa is rejected or you withdraw from your course for any reason whatsoever.

For the refund process, you must contact the Blocked account bank and request a refund of funds.

The balance amount will be refunded to you after the deduction of any applicable fees by the Blocked account bank and the sending bank in India (ExTravelMoney does not charge any fees for refund).

The Processing Fee (charged by Blocked account bank) and the Wire Transfer Charge (charged by sending bank when transferring GIC amount from India and charged by Blocked account bank when refunding this amount) are non-refundable.

Also, when refunding the amount in EUR, the receiving bank in India will be getting the amount after conversion to INR at the Outward Remittance Sell Rate (lower than Interbank rate) applicable for the day.

ExTravelMoney.com is not responsible for any fees or charges levied by the sending bank, correspondent bank/intermediary bank, and the Blocked account bank. ExTravelMoney.com does not take liability for any foreign currency exchange gain or loss resulting from processing, transferring, rejecting and returning of such funds.

The amount you finally get back after refund of your Blocked account funds may be different from the amount you deposited because of the above-mentioned charges and foreign exchange conversion rate.