Proof of Financing
In order to start your studies, you will be required to provide a "proof of financing" that proves that you have sufficient financial means. In most cases, students must prove that they have around 11,208 euros available for one year. This amount, known as the "standard requirement", corresponds to the estimated cost of living for a student for one year in Germany.
Different ways to prove your finances
There are different options available to you to prove that you are financing your studies:
A person living in Germany can submit a declaration of commitment to the immigration authorities to cover your costs.
A scholarship letter from a recognized scholarship provider is also valid.
You can deposit a certain amount as security in a blocked account.
Your parents can submit documents that prove their income and assets.
A bank guarantee can serve as proof.
Check with the German embassy in your home country to find out which form of proof of finance you absolutely need.
Tips for opening a blocked account
Many international students open a blocked account to secure their study financing in Germany. This account is called a "blocked account" because the funds deposited are only available after arrival in Germany.
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Setting up a blocked account is usually straightforward. However, there are a few important aspects to consider:
1
Apply in
good time
You can open a blocked account at various German banks both locally and online. Since numerous banks offer this service, it is important to compare their offers carefully before opening an account. It usually takes about a week for the documents to be processed and the payment confirmation to be issued. However, at the beginning of the semester, this process can take considerably longer. It is therefore advisable to submit the application for a blocked account in good time.
2
Have the application and required documents certified
Some local banks require you to have the completed forms and a copy of your passport certified by a German consulate general or the German embassy in your home country. Only then should you send your documents to the selected financial institution. Important: Do not send your documents by email or fax as a scan; the bank only accepts original documents. Alternatively, you can open a blocked account online. This is often faster and less complicated, as you can upload documents and verify your identity digitally. For detailed and binding information, please contact the bank of your choice directly.
3
Open an account and withdraw money
If your documents are complete, the bank will open a blocked account for you. Setting it up costs between 50 and 150 euros. As soon as the account is set up, you must pay the expected annual requirement into the account. After you arrive in Germany, you should make an appointment at a branch of your bank. A bank employee will help you apply for an EC card that you can use to use ATMs and will give you the access data for online banking. If you applied for the account online, you will usually receive the card and further information by post.