Opening New Bank Account
Opening a new bank account is fairly an easy process in all EU countries. Usually, most universities have tie-ups with local banks to open bank accounts for their foreign students. In case your university has no such facility, you can opt for any local bank, preferably near your campus or place of stay. You should choose a bank that has been recommended by someone you trust, has a good reputation in that country and offers student-friendly facilities. You will be required to fill a bank account opening application form and submit the copies of the following documents:
- Passport with a student visa.
- Letter of confirmation of your admission from the university.
- Local documents that act as your identity and address proof in the EU country. For example, rent agreement, utility bills or personal social security number.
- Identity and address proof from your home country.
The documentation may vary to some extent from one bank to another and one EU country to another.
In case of Germany, the visa consulate will ask you to open a Block Account (SperrKonto) during the visa process and provide proof of amount deposited in the account to ensure you have enough money to finance your studies. If you are an Indian student, you can open an account in Kotak Mahindra Bank in India or directly with Deutsche Bank in Germany. Know more about opening block account. Link