“...ExTravelMoney has tied up with forex dealers and banks. Through 4000 stores of these partners, it could access the national market....”
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I got to know about extravelmoney.com from a friend of mine. The transaction was really simple, fast & flawless. I was impressed with their ability to meet my need, so quickly.
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Complete process was very hassle free, right from choosing of exchange rate, confirmation of order and receiving money. I am sure I wouldn`t have got this exchange rate and service quality if I directly walked in to anyone of the forex vendors
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I opted for extravelmoney after doing a lot of research and visiting the banks where I have my accounts. The rates are undoubtedly the best in market and the process is absolutely hassle free.
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Enter the amount in USD & get quotes from nearest banks & exchange houses instantly
Compare the quotes, choose one and book your order for sending money from India to Germany
Submit KYC & transfer funds as NEFT/RTGS directly to the RBI authorized exchange house.
Yes, all done! The wire transfer will be initiated the same day & you can collect the SWIFT copy!
ExTravelMoney Is Rated 4.8 Stars by Trustpilot Based On Over 400 Reviews
Extravelmoney helps Indian students heading to Germany send money to their blocked accounts quickly at minimum costs. Students can save up to 5% compared to banks or other money transfer service providers. The entire amount can be transferred in a single transaction. We also provide door-step KYC verification via our 6000+ partnered outlets across India. The whole process can be completed in 48 working hours.
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.
In 2020, for students going to Germany for their studies, the minimum amount to be deposited into the Blocked Account has been set as 10,236 Euros.
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 10,236 Euros), every month an amount (853 Euros if the minimum amount was deposited) will be sent to the student account to cover their living expenses.
You must open a Blocked Account in Germany from India, even before you apply for your German Student Visa. There are many providers like Fintiba, Coracle, Expatrio, Deutsche Bank, Kotak Mahindra Bank etc. Apply for a Blocked Account with any one of them.
Once account is approved, you can transfer the funds from India to the blocked account via wire transfer. It can take up to 2 working days for the amount to be credited. Receive confirmation and use this during German Student Visa processing.
Note: The sender must be the student or his/her parents.
Yes, your Blocked amount will be refunded in case your Blocked account application or German 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 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.
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