It’s a must for non-EU students to show sufficient financial means to get a German student visa. These financial means can be in the form of scholarship, sponsor or blocked account. A blocked account is one of the most commonly used financing options for Germany.
Normally, students can open blocked accounts in different German banks e.g Deutsche Bank, Fintiba, and Expatrio. But in some countries, German embassies also allowed a few local banks that can provide a blocked account facility to students.
Pakistani students had no option in the past to open a blocked account in the local banks. Such as Indian students have the option to open a blocked account in Kotak Mahindra Bank. They have this facility from the past several years.
But recently, UBL Pakistan (United Bank Limited) has signed a Memorandum of Understanding with the German Embassy Islamabad to provide a blocked account facility to Pakistani students. Through this collaboration, UBL Pakistan can provide the facility of blocked accounts to Pakistani students.
This blocked account will be an FCY Euro account with blocked funds as per the German embassy requirements. Students can apply for a study visa with this blocked account. These blocked funds would be transferred to the applicant’s German account once he will reach Germany.
Procedure to open a block account in UBL Bank:
You can effortlessly open this account at any UBL bank branch located in Pakistan that deals with foreign currency. Already existing accounts of family members can be utilized as well to block the funds. Follow this procedure to open a block account in UBL Bank.
- First, arrange 10,236 euros in cash or any form as per the German embassy requirement.
- Visit any UBL branch that deals with foreign exchange and ask for FCY Euro account with block funds for the purpose of issuance of German Student Visa.
- Bank will first open your FCY Euro account and request to deposit the required money.
- Once you deposit the funds in this account the bank will block the funds and give you the confirmation.
- Get confirmation of blocked funds with a bank statement and use it in the visa application in order to get the study visa for Germany.
Note: In case, you already have an FCY account then deposit required money in that account and request to the bank to block the funds for the purpose of issuance of German Student Visa. You can use your blood relation’s FCY account as well to block the funds.
Document requirements to open a block account in UBL bank:
You require the following documents to open FCY euro account with blocked funds:
- The agreement for block funds printed on Rs.200/- stamp paper, attached as annexure
- Annexure A – customer agreement – where a student is the account holder (joint – either or survivor with parent/ guardian/ relative)
- Annexure B – third party customer agreement – where parent/ guardian/ relative of the student is the account holder
- Annexure C – Letter of authority – to be signed by the account holder
- Copy of CNIC of the account holder
- If you are using someone else account then CNIC copy of both account holder and the beneficiary (student)
- Copy of passport of the beneficiary (student)
- Copy of German university issued admission letter/offer letter
Release of blocked funds after visa approval:
After successfully getting the German student visa, go to the UBL bank with the following documents in order to release of blocked funds.
- Copy/scanned image of the student’s passport with student visa stamp.
- Request of the account holder to release block funds.
- Original NOC issued by the German Embassy for release of blocked funds (Not mandatory, submit if available).
- German bank account details to transfer the funds (if available). Otherwise submit later after moved to Germany.
- Copies of all the documents must be duly stamped by two ISP/POA holders of the branch of the bank. (request bank manager for this stamp)
Release of blocked funds on Visa Rejection:
The account holder requires the following documents to release blocked funds in case of visa rejection.
- Copy of the student’s passport (showing visa rejected stamp) or letter from the German Embassy/Consulate General confirming that visa has been rejected.
- Original NOC issued by the German Embassy/Consulate General for the release of block funds. (You can get it from German Embassy or Consulate-General)
How to access UBL Blocked Funds in Germany?
After arriving in Germany, open a student account in any local German bank. Get all the bank details with IBAN and send these details to the UBL branch in which you have an FCY Euro account. The UBL bank will transfer these funds to your German bank account after receiving these details. Once you will receive your money then use it and enjoy stay in Germany.
FAQs about UBL blocked account:
You don’t need to open another blocked account in Germany in order to receive this money. Instead, you can receive this money in a normal student account that you will open in any German bank. The UBL bank will transfer 853€ per month to your German bank account once you give them your account details.
You can show UBL blocked account confirmation in the immigration office in order to get a visa extension. If the immigration office demands a blocked account in a local German bank then you can open it in any bank like Sparkasse, Commerzbank, etc.
It depends on your own choice. If you want to hold your money in your home country or have fear of visa rejection then UBL can be a good option. Otherwise, choose easy options like Fintiba or Deutsche bank.
There is no such difference in both blocked accounts according to the purpose and functionality. UBL blocked account is an FCY Euro account with a blocked amount according to the German embassy requirements. You open this account in a Pakistani bank.
All other types of blocked accounts you can directly open in the German banks.
It means a Foreign Currency Account.
No, only those UBL branches can open blocked account that deals with foreign exchange.
Yes, you can use the FCY account of your blood relations.