From 2020, the standard requirement will increase from the original 8,640 Euro to 10,236 Euro. This applies to all visa applications submitted from September 2019.
Why do you need a blocked account?
When entering the EU from abroad for studies, language courses or other employment purposes, a traveler must prove that he can finance his stay in the Federal Republic of Germany from his own funds. One possibility is the blocked account. International travelers from non-EU countries must transfer an amount to the blocked account. From 2020, the standard requirement, which must be paid into the blocked account when applying for a visa, will increase by almost 20 percent. All further relevant information can be found in the following article.
Everyone who wants to apply for a visa for Germany has to consider the following requirements:
- The purpose of the trip to Germany must be plausible and comprehensible.
- The applicant must be in a position to finance his/her living and travel costs from his/her own funds or income.
- The visa holder must be prepared to leave the Schengen area before the visa expires.
- Documentary evidence must be provided of travel health insurance with a minimum coverage of 30,000 Euro valid for the entire Schengen area.
On the second point, new provisions will apply from next year (2020). The minimum amount for the blocked account will be increased by almost 20 percent.
What is a blocked account?
You can imagine a blocked account as a proof of finance. This proves to the authority that you can finance your stay abroad from your own assets. You must create the account before you start your journey and transfer a certain amount to it. The amount depends on the duration, so far you had to transfer 720 Euro for each month.
If the trip was planned for one year, at least 8,640 Euro are required. The account will then be blocked until you will arrive to Germany. After you arrived, you can withdraw up to 720 Euro per month. This maximum amount is fixed unless more money has been transferred to the blocked account. With the blocked account you prove to the authorities that you are financing your livelihood and other expenses from your own assets.
Starting next year, the regular demand will increase from the original 8,640 Euro to 10,236 Euro. All visa applications that will be made from September 2019 are affected. You can withdraw up to 853 Euro per month to finance your expenses.
The amount of 10.236 Euro is only a minimum amount, you can also transfer more so you have more money monthly.