What Is A Blocked Account?
A Blocked Account is a type of bank account that is specifically designed for international students who wish to study in Germany.
The account is called “Blocked” because the funds in the account are not accessible to the account holder until they arrive in Germany.
What is the Purpose of Opening a Blocked Account for Study in Germany?
The purpose of opening a blocked account for study in Germany is to provide proof of financial resources to the German government. International students who wish to study in Germany are required to demonstrate that they have sufficient funds to support themselves during their stay in the country. This is a requirement for the student visa application process.
Opening a blocked account is one way for international students to meet this requirement. By depositing a certain amount of money into the account, as required by the German government, the student can demonstrate that they have sufficient financial resources to cover their living expenses and other related costs while studying in Germany.
The funds in the blocked account are not accessible to the student until they arrive in Germany. This ensures that the funds are available to cover the student’s expenses during their stay. Once the student arrives in Germany, they can access a portion of the funds from the blocked account on a monthly basis to cover their living expenses.
How can ERFOLG Counseling Help You to Open a Blocked Account for Study in Germany?
What is Foreign Exchange Assistance?
Foreign exchange assistance refers to the services provided to individuals or students who need to exchange Indian Rupees to Euro. In the context of study abroad programs, foreign exchange assistance is often used by Indian students who need to convert their Rupee currency into Euro. This can include services such as wire transfers, prepaid cards, and currency exchange services.
Benefits of Foreign Exchange - Forex Assistance for Indian Students for Germany
- Offers competitive exchange rates.
- Provides access to funds in the local currency
- Minimizes transaction fees and exchange rate costs.
- Helps students avoid potential currency exchange scams and fraud.
- Reduces the risks associated with carrying large amounts of cash.
- Simplifies the process of managing foreign currency transactions.
- Facilitates international study and academic pursuits.