Can We Take Back Money from a Blocked Account After Getting a Visa for Germany?
Introduction
Obtaining a visa for Germany, especially for non-EU students, often requires opening a blocked bank account. This is to ensure that the cost of living is financially covered during your stay. However, what happens if you find yourself with a blocked account and wonder if you can reclaim any money once you secure a visa? This article explores this question and provides guidance on the process.
Blocked Account Overview
A blocked account, particularly one required by foreign non-EU students for a visa application, serves a crucial purpose. It guarantees that the applicant has a suitable amount of funds to cover their living expenses in Germany over a year. This amount is determined by the average cost of living in the country, which currently stands at 934 Euros per month as of the latest regulations.
Monthly Withdrawals
Monthly Withdrawals and Living Costs
Once approved, you can withdraw 1/12th of the total blocked amount each month. This allowance ensures you have sufficient funds to support your living expenses over the first year of your stay in Germany. The purpose of this arrangement is to prevent financial strain during your initial adjustment period.
Banking Regulations
The blocked account function is subject to strict regulations. You cannot simply withdraw all the funds at once; instead, you are allowed to withdraw up to 934 Euros each month, which is the minimum threshold required for the cost of living. This ensures that you maintain a minimal amount in your blocked account to demonstrate your financial stability to the authorities.
Reasons for a Blocked Account
Self-Imposed vs. Court-Ordered Block
There are two primary reasons for a blocked bank account: either you have blocked the account voluntarily or there is a court order against you. If you have blocked your account voluntarily, you might want to reconsider this decision, especially if you plan to apply for a visa. If there is a court order, it is essential to address the underlying issue, as the account will remain blocked until the matter is resolved.
After the Visa is Approved
Understanding Your Rights
Once you are granted a visa for Germany, the situation regarding the blocked account changes. You are permitted to withdraw the full amount or transfer the funds to another account, as long as the new account meets the requirements of a qualified bank account created at the time of enlisting. This includes maintaining a sufficient balance to cover the cost of living for the upcoming year.
Transferring or Closing the Account
Transferring Funds
If you wish to transfer funds, you can visit the finance office and complete the necessary paperwork. This ensures that the transfer complies with the legal requirements set forth by the authorities. You can open a new account while maintaining the minimum balance required to demonstrate your ability to cover living costs.
Closing the Account
Closing a Blocked Account
Closing the account is not an option without opening a new one. This is because the blocked account is a legal requirement for visa eligibility. If you want to close the original account, you must open a new account that meets the same requirements. This is a crucial step to ensure compliance with legal standards and to avoid potential issues in the future.
Conclusion
In conclusion, while you cannot immediately withdraw all the blocked amount once you secure a visa, you can manage the funds according to the regulations. If you have any doubts or concerns, consulting with a financial advisor or the local authorities can be beneficial. Remember, maintaining compliance with the requirements for a blocked account is essential for smooth visa processing and your subsequent stay in Germany.