ICICI Bank Germany launches Blocked Account for Indian students

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  • ICICI Bank Germany offers completely digital Blocked Account along with a complimentary Current Account for Indian students
  • ICICI Bank Germany announced the launch of a digital and instant Blocked Account for students aspiring to study in Germany.
  • A Blocked Account is a special type of account wherein students are required to keep a certain amount of money in order to get a Balance Confirmation Certificate (BCC), a mandatory requirement for a student Visa in Germany. Only banks, which are authorized by German Federal Foreign Office, can offer the Blocked Account.
  • The new ‘ICICI Bank Germany Student Blocked Account’ enables students to deposit the required amount with the Bank and get the BCC.
  • Students can open this account online from the comfort of their homes in India before their Visa applications, without visiting an ICICI Bank branch.
  • This account offers students a complimentary Current Account, that they can use in Germany. It also comes with a VISA debit card which can be used anywhere in the world.
  • The debit card will be delivered to the students at their address in India before they leave for Germany.
  • Speaking about the launch, Sriram H. Iyer, head- International Banking Group, ICICI Bank, said: “ICICI Bank Germany Student Blocked Account is the first account that offers the dual advantage of a ‘Blocked Account’ along with a complimentary Current Account to the Indian students. It also offers a VISA debit card which can be used worldwide. Germany is a popular destination for Indian students looking to pursue higher studies. ‘ICICI Bank Germany Student Blocked Account’ helps them apply for a ‘Blocked Account’ and get the BCC, a prerequisite for applying for a German Visa. The Current Account and the VISA debit card help them to take care of their day-to-day banking requirements in Germany.”
  • Benefits of the ICICI Bank Blocked Account
  • Fully digital process: Students can open the ‘Blocked Account’ in a complete digital and seamless manner; and get the account number instantly.
  • Debit card: Students receive the VISA debit card before they leave for Germany.
    • Complimentary local current account: Students get an additional Current Account as a local bank account for their daily banking requirements in Germany
  • How to Apply for ICICI Bank Germany Student Blocked Account
  • Registration with ICICI Bank Germany: Students can register themselves on ICICI Bank Germany through the website. Once that is done, an email with an authentication link will be shared with them. This activates the application portal and a secured mailbox for receiving further instructions, updates and BCC.
  • Submission of online application: Students can fill in the details in the online application form, upload their Passport copy, address proof and the college admission/acceptance letter and get a ‘Blocked Account’ number instantly.
  • Funding the account: Students can transfer funds to their ‘Blocked Account’ with the pre-requisite amount immediately using any bank account in India and within one day of receipt of funds, they get the BCC in their secured mailbox and the VISA debit card dispatched to their address in India.
  • Activation of the local bank account/ current account: Students can complete a quick online video identification process and update the local address after reaching Germany. This will activate their local bank account and VISA debit card for their local banking requirements in Germany.
  • SOURECE: www.dqindia.com

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