fbpx
Market intelligence for international student recruitment from ICEF
30th Jul 2019

Germany increases deposit requirement for foreign students

In Germany, there are three ways that non-EU international students can show proof of financial means for their first year of study as part of their visa application. The most common way is depositing a minimum amount of money into a “blocked account,” which is a bank account designed precisely for international students and offered by German banks, including Deutsche Bank and Fintiba. The account is considered “blocked” because students cannot access it until they arrive in Germany, and then may only withdraw funds up to a specified monthly limit.

As of 1 September 2019, the amount of money that international students using the blocked account option in their visa application will rise from €8,640 to €10,236. Once students arrive in Germany, they will be permitted to withdraw a maximum of €853 per month.

Such proof of financial means is one of the main requirements to obtain a student visa for Germany. The other ways international students can show proof of financial means are by showing that they have received a scholarship or by providing a letter to confirm that they have an approved sponsor for their study programme.

Why the increase?

The increase, which is the first in years, is meant to keep up with inflation and intended to reduce incidences in which students jeopardise their academic performance by taking on too much paid work during their studies.

The minimum deposit required by the German government reflects the estimated funds required for a foreign student to cover his/her living expenses in Germany for a full year.

How to get a blocked account

The German government advises,

“Many countries have providers that offer blocked accounts. Information is available from the respective competent German mission abroad. Furthermore, certain banks in Germany offer special blocked accounts for students/language students for educational institutions located at their place of business.”

For additional detail on blocked accounts, including step-by-step instructions on opening an account at a participating bank, please see this excellent overview from the German Federal Foreign Office.

For additional background, please see:

Most Recent

  • International education has a data problem. It’s time to do something about it Read More
  • Criticism mounts as Australian Senate committee hears it is “wrong to go ahead” with ESOS amendments bill as is Read More
  • Universities UK releases blueprint for higher and international education Read More

Most Popular

  • Recent policy changes slowing student interest in the UK, Canada, and Australia Read More
  • Germany confirms increase in proof-of-funds requirements for student visa applicants Read More
  • New Zealand expands work rights for accompanying dependants of foreign students Read More

Because you found this article interesting

Criticism mounts as Australian Senate committee hears it is “wrong to go ahead” with ESOS amendments bill as is The Australian government remains committed to passing into law a cap – intended to take effect as early...
Read more
Universities UK releases blueprint for higher and international education In a context of policy uncertainty and instability in the tertiary sector, Universities UK has released a blueprint...
Read more
The view from here: How the “Big Four” study destinations are adapting in a year of change All projections point to continuing, strong growth in international student mobility through the rest of this decade and...
Read more
France enrolled over 430,000 international students in higher education in 2023/24 Campus France has announced that France hosted 430,466 international students in 2023/24, a year-over-year increase of 4.6%. This...
Read more
What impact will a slowing economy have on Chinese demand for study abroad? The Chinese government is again reporting on youth unemployment rates after have suspending such data releases for the...
Read more
European study destinations now offering thousands of English-taught degree programmes English-taught programmes (ETPs) are becoming more prevalent in Europe, according to a new research report just released by...
Read more
ICEF Podcast: The future of ELT: A call to action Listen in as ICEF’s Craig Riggs and Martijn van de Veen recap some recent industry news, including Australia’s...
Read more
Canada announces updates for foreign enrolment cap and post-study work rules Canadian Immigration Minister Marc Miller announced today several new measures affecting international students in Canada. He stated, “The...
Read more
What are you looking for?
Quick Links