Guide on how to open Fintiba blocked account. Germany being one of the most popular destinations for studying abroad has a large number of students moving in. It offers a variety of programs to students from diverse fields as well as excellent teaching institutions. It provides multiple opportunities to brilliant students. Thus attracting students from all over the world.
However, if you are moving to Germany as an international student you must fulfil some requirements. The top of which includes a blocked account in a bank. You can open a blocked bank account at Fintiba, Deutsche Bank, Coracle and Expatrio. The whole process of applying through Fintiba can be understood in this article.
What is the block account?
A blocked account is called ‘Sperrkonto’ in German. This is a special type of bank account for international students. It is mostly necessary for studying in Germany if you are moving from a non-EU state. It is required for your visa entry application in Germany. And also for your residence permit.
Purpose of Blocked Account
If you want a German student visa you must show a Blocked Bank account. The purpose of this German blocked account is that it proves whether a foreign student or job seeker is able to support himself. It is proof of your financial resources to stay in Germany.
Opening Fintiba Blocked Account
What is Fintiba?
Fintiba is a company whose centre of attention is helping international students. It offers online services for people interested in moving to Germany. Fintiba is not a bank as it does not offer financial or banking products. Fintiba only acts as an intermediary between Sutor Bank and customer. Sutor Bank is in partnership with Fintiba Company. German Federal offices approve the Fintiba blocked accounts.
Types of blocked accounts
You can open two types of account
- Fintiba Basic: It includes your blocked account only.
- Fintiba Plus: It includes additional services. That is blocked account with health insurance.
The only thing you require for an opening bank account through Fintiba is your Passport.
Process of opening Bank Account at Fintiba
You can open a blocked bank account at Fintiba online. And then you can get your German student visa through embassy. For this follow-through following steps:
- First, visit Fintiba official website where you will find two types of offer.
- After choosing the offer you click on “Open Account Now” and fill the registration form.
- You are provided with a user ID to access their app as soon as you register.
- In the Web app, you have to add information needed for the blocked account (typically Passport data, blocking the agreement, your home country and some verification documents)
- After verification, your bank account is opened at Sutor Bank. Then you acquire your account details.
- Now that your account has been opened you simply have to transfer money. This might take a few days depending upon your bank.
- You will receive a confirmation email as soon as your blocked amount has been transferred.
- You can now apply for Visa at the German embassy for which you book an appointment. Then present all your documents and get Visa.
The certain amount of Euros that have to store in your blocked account depend upon the length of your stay. It is 853 Euros usually for each month. That makes up to about 10,236 Euros for a year maximum. However, you also have to pay an initial service fee that is about 89 Euros as well as a monthly maintenance fee of 4.90 Euros.
After arriving in Germany
Once you have reached Germany and settled at a registered address. You can obtain money from your blocked account. However, for this, you will have to open a current/student bank account at any bank of your choice. You will receive your monthly payout through this account. The amount would be transferred from your Fintiba Blocked Account monthly.
We hope this article helps you in creating your blocked account.