As a Nigerian student, it is important to demonstrate financial resources to support yourself as an international student studying in Austria. One such way to fulfil this requirement is by opening a blocked account (Sperrkonto); this will guarantee you have enough funds for the duration of your stay. The article gives you an easy walkthrough for opening a blocked account for your Austria student visa.
What is a Blocked Account?
A blocked account is a special type of bank account where a specific amount of money is deposited and cannot be fully withdrawn at once. Instead, you can only access a fixed monthly amount to cover living expenses. Austrian authorities require this to ensure students do not face financial difficulties while studying.
How Much Do You Need in the Blocked Account?
The required amount varies depending on your age:
- Under 24 years old: €7,812 per year (€651 per month)
- 24 years and older: €12,108 per year (€1,009 per month)
Steps to Open a Blocked Account for Your Austria Student Visa
1. Choose a Bank or Financial Institution
Several banks and financial service providers offer blocked accounts for international students. Options include:
- Austrian Banks (e.g., Erste Bank, Bank Austria, Raiffeisen Bank)
- International Service Providers (e.g., Expatrio, Fintiba, Deutsche Bank)
For Nigerian students, using Expatrio or Fintiba might be easier since they allow online applications.
2. Gather Required Documents
To open a blocked account, you generally need:
- A valid Nigerian passport
- Proof of university admission in Austria
- Proof of residence in Austria (if available)
- Visa application documents (if required by the bank)
3. Apply for the Blocked Account
You can apply either:
- Online (for banks that offer digital applications like Fintiba and Expatrio)
- In-person (for banks in Austria, but this requires you to already be in Austria)
For online applications, fill in your details, upload documents, and wait for approval.
4. Deposit the Required Funds
Once your account is approved, transfer the required amount. Ensure the funds cover any additional fees charged by the provider.
5. Receive Your Blocked Account Confirmation Letter
After the money is deposited, the bank will issue a blocked account confirmation letter. This document is crucial for your student visa application at the Austrian embassy in Nigeria.
6. Set Up Monthly Withdrawals
Once you arrive in Austria, you can withdraw a fixed amount each month as per the Austrian regulations. Some banks may require you to open a secondary account in Austria for monthly transfers.
Alternative Financial Proof Options
If opening a blocked account is not feasible, other ways to prove financial sufficiency include:
- Sponsorship letter from an Austrian resident who guarantees financial support
- Scholarship proof showing tuition and living expenses covered
- Bank statements showing sufficient funds in a personal or family account
Opening a blocked account is a straightforward process if you follow the right steps and choose a suitable bank or service provider. It is essential to start early, as processing times can vary. With proper financial proof, your Austrian student visa application will have a higher chance of approval.
By planning ahead and following these guidelines, you can smoothly transition to studying in Austria as a Nigerian student. Need further guidance? Contact your chosen bank or the Austrian embassy in Nigeria for assistance.
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