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Deutsche Bank Blocked account issue
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kali.kat Offline
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kali.kat Offline
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Post: #1
Deutsche Bank Blocked account issue
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Hi Guys,

I have been looking through the process of opening a blocked account in Deutsche Bank. The application form says that I need to attach the proof for source of funds. Since I would be taking an education loan I will not be able to provide any statements before opening the account. I do not know how to tackle this issue. Any help would be really appreciated.
04-21-2017 12:07 PM
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Outbound Offline
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Post: #2
RE: Deutsche Bank Blocked account issue
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I believe it's no longer possible to open a blocked account in Deutsche Bank. Here's why:

1) For opening a blocked account in Deutsche Bank, you have to download the necessary forms and get them attested from a German embassy.
2) To get them attested, I emailed the embassy requesting an appointement.
3) Here's the response I received:
Quote:kindly note that the blocked account opening documents with the Deutsche Bank cannot be henceforth sent by the students to Germany as per the new form.
Due to several reasons the consulate too, cannot do the same. Hence to ease the procedure for students and to simplify the process, we now accept the blocked account from the Kotak Mahindra Bank.
You are therefore requested to go to a nearest Kotak Mahindra Bank and open a blocked account in the same. This would be accepted by the consulate as a proof of your financials during your Visa Interview

So I guess we only have Kotak Mahindra to open the account for us. I read one of your posts saying they are asking to deposit 9000 euros. Is that the one year expenses we are actually supposed to put in the blocked account. Or is it some kind of a security that is being required by Kotak?

04-22-2017 04:46 PM
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ishansaxena45 Offline
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RE: Deutsche Bank Blocked account issue
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Hello kali.kat and Outbound

So yeah, as correctly mentioned by Outbound the new form states that the Embassy/Consulate needs to send the form. So, depending on the Consulate you might/might not be lucky.

The Blocked Amount for 1 year expenses is currently 8640 Euros. Kotak Mahindra is a decent alternative. It is usually hassle free. (But not always. If you are in a hurry, then it is best to maintain regular contact with the person responsible.) If you deposit 9000 Euros and ask them to transfer the whole amount, then they will do so. But, They charge a higher rate while opening the account, while the rate is much lower when they are transferring the amount to Germany. The difference will be stored in your Kotak account here. The extra money is usually to cover the variable rates and international transfer fees. So nothing much to worry.

As soon as you land in Germany, after your City registration, you can directly go to a Deutsche Bank branch, open a student account and then share your account details with Kotak people. But, they will charge a Fees (was 150 Euros when I came) for blocking your amount. So, this is where the extra amount comes in handy. Else, you can always deposit the extra money.

Another alternative can be opening at the local Deutsche bank branch. But they usually ask for a deposit (~50 k to 1 lakh) in addition to the blocked amount.

So choose whichever is more convenient.

Cheers

Back and ready to roll !!

Tag me for Signal Processing related and Germany related queries.

My InfoBank | My Visa Interview | ECE Specialization Specific University List | The Comm & Signal Processing Thread
04-23-2017 04:23 PM
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