If you are a Nigerian student planning to study in Finland conclusively proving that you have sufficient money to pay for living costs is a decidedly important requirement for getting a student visa (residence permit for studies). Showing financial proof can be done in a few ways. Opening a blocked account is one of them. For Nigerians, this guide offers detailed steps for opening blocked accounts for Finland student visas.
What is a Blocked Account?
A blocked account is a special type of bank account that ensures international students have enough funds to cover their stay in Finland. The account restricts access to a lump sum deposit, allowing only fixed monthly withdrawals.
Why Do You Need a Blocked Account?
The Finnish Immigration Service (Migri) requires students to prove they have enough financial resources to support themselves. As of 2024, the required amount is at least €560 per month, totaling €6,720 per year. This amount must be in your account when applying for the student residence permit.
Step-by-Step Guide to Opening a Blocked Account
1. Check With Your Finnish University
Before opening a blocked account, contact your university in Finland. Some universities provide guidance on acceptable financial proof and recommend banks for international students.
2. Choose a Bank or Financial Institution
To open a blocked account, you need to find a bank that offers student accounts. Some recommended banks in Finland include:
- OP Bank
- Nordea Bank
- Danske Bank
- S-Bank
- Holvi (Online Bank for international students and businesses)
International service providers like Fintiba and Expatrio may also offer blocked account services.
3. Gather the Required Documents
To open a blocked account, you typically need:
- A valid passport
- Your university admission letter
- Proof of tuition fee payment (if applicable)
- A completed blocked account application form (if required)
- Proof of residence in Finland (may be required after arrival)
4. Transfer the Required Funds
Once your blocked account is opened, you need to transfer at least €6,720 (or the amount required for your study duration). Additional bank fees or transaction charges may apply.
5. Receive a Confirmation Letter
After the funds are received, the bank will issue a confirmation letter or a proof of funds statement, which is a required document for your Finland student visa application.
6. Submit the Confirmation to Migri
Submit the blocked account confirmation letter with your student residence permit application to Migri (Finnish Immigration Service) online via the Enter Finland portal or at the Finnish Embassy in Nigeria.
7. Access Your Funds in Finland
Upon arrival in Finland, you will need to:
- Open a regular Finnish bank account for daily transactions
- Transfer the funds from your blocked account (if required)
- Start receiving monthly allowances for your expenses
Alternative Proof of Financial Means
If you do not want to use a blocked account, you can also show financial proof through:
- A scholarship award letter covering your living expenses
- A sponsor’s bank statement (with proof of financial support commitment)
- A student loan letter from a recognized financial institution
Opening a blocked account for your Finland student visa as a Nigerian ensures that you meet Migri’s financial requirements. It’s important to check with your university and choose a reliable financial institution to avoid delays in your visa processing.
By following this guide, you’ll be well-prepared to meet the financial requirements for your studies in Finland. Good luck with your student visa application!
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