Faq
The Study Remit service is uniquely different and provides the Blocked Account setup for students through a secure process with our bank partner and Health Insurance through our reputable partners. Our setup process is designed from the student standpoint to offer a fast, secure and seamless blocked account for eligible visitors to Germany. You are required to sign up and create a profile, then make an order for your preferred service without any burden of outrageous service cost or initial outlay.
All user information are collected and trasmitted securely to the service providers in compliance with the relevant regulations and data privacy requirements. As soon as your blocked account is opened, your personalized details with the IBAN information is also sent to you securely.
At the point of making your order, you may choose your desired duration and this must match and comply with your expected duration of stay in Germany. The amount required to open your account is hence calculated based on the duration you selected.
There are regulations that limits the responsibility of a minor to open and operate a Blocked Account hence we expect any account holder to be an adult and at least 18 years of age.
We do not burden account holders with outrageous setup fees and monthly charges, our service fee is affordable and we also offer free setup and full waiver on our service fee for bundled services. If a client is orders a Blocked Account and Health Insurance combo, the service fee is waived. The blocked account is a wholesome dual use account that also serves as a current account with access through debit card for the holder. We expect to provide more benefits to our clients very soon.
At the point of account setup, our clients are required to provide relevant support documents based on their program category. Example; a student must submit the provisional admission letter while an intern must submit an offer of place e.t.c. The required documentation varies depending on the status and program of the account holder.
The Blocked Account setup is done within 24 hours.As soon as the account setup is done, the personalized IBAN details are sent to the client and funds deposit into the account can be done through any preferred method; SWIFT or SEPA. Also, deposit may be done in tranches and we require clients to contact us if they will not be funding their accounts in a single transaction.
Funds in the Blocked Account are secured in the client's name until physical arrival in the country. You will be required to call our bank partner; Vientin Bank on arrival in Germany to activate the access to your account and funds.
In any of these cases, you are able to close your Blocked Account and get your funds back less the transfer charges. You will be required to submit a documentary evidence otherwise known as "Sperrfreigabe" from the German Consulate before we can close your account and refund the deposit to the source account.
The statement of your blocked account will be issued the moment the total amount for the blocked account is deposited. You will be able to access your copy through the user dashboard and an official copy will be sent to the German Consulate in your country of domicile.
Based on your profile and visitor status, you can order any kind of insurance coverage. Our insurance partners; TK, will customize your coverage based on the parameters that fits your profile.
You will receive a quote and service subscription bill based on your profile and desired duration of coverage.