Many students have queries about transfer of money from Pakistan to Germany in student blocked account. Because, majority of students prefer to open their blocked account in Deutsche Bank Germany.
And, Deutsche Bank also have their branch’s in major cities of Pakistan. But Deutsche Bank Pakistan not provide any service related to Student Blocked Account to Pakistani students, as they provide in India. Deutsche Bank India provide services for Blocked account to Indian students. So, Indian students who want to study in Germany can open their Blocked Account in Deutsche Bank Germany with the help of Deutsche Bank India. But in Pakistan, situation is different. Here students send their account opening form to Deutsche Bank Germany and then they open blocked account for them. It’s a time consuming and stressful process.
That’s why after opening account in Deutsche Bank Germany, Pakistani students face problem in transfer of money. Mostly when they visit Deutsche Bank Pakistan for money transfer they refused to transfer money. So, students go to local Pakistani Banks, which have very high service and transfer charges. Some local banks even refused to transfer money, because of high amount in local currency. Banks who refused to transfer money, they give reason that State Bank of Pakistan not allowed us to transfer money because of high amount. This thing create a great trouble for Pakistani students.
I personally faced this problem, when I try to transfer money in Student Blocked Account Germany from local Pakistani Bank in 2016. I visited Standard Chartered Bank, Allied Bank, Habib Bank and Punjab Bank in my city. All refused to transfer money and give the same reason of State Bank. Then I call on the helpline of State Bank of Pakistan and asked about this issue. They told me that, all the banks are lying with you. There is no restriction to transfer money for medical and education purpose. You just need to give a photocopy of your admission letter to bank as record and they are allowed to transfer money. I again visited Standard Chartered bank and talk to the manager, he said sorry and agree to transfer money. But I transfer from other bank with Euro account. So, it’s a simple thing but due to less knowledge, local banks create a serious trouble for students. If you face same problem, then tell them that State Bank have no restrictions on transfer of money for Educational purpose e.g Fee or Money for blocked account. Because recently more students are applying for studies in Germany. That’s why now scenario is totally changed. Now private banks and exchange companies easily transfer money to blocked account.
So, after this whole experience, I will tell the easiest and cost effective method to transfer money in your Blocked account from Pakistan. You can transfer your money from Pakistan to Germany either with Banks or with Money exchanging companies.
- If you want to transfer with local Pakistani Banks, then they will send your money with Bank Draft, Telegraphic Transfer or with Euro account.
- If you send your money with money exchange companies like Money Gram and Westren Union. Then they will also send your money with Telegraphic Transfer.
Bank draft or Telegraphic Transfer took one week or some times more then one week to transfer the money. Charges of banks and exchange companies on money transfer through Bank Draft or Telegraphic Transfer are very high. That’s why my first suggestion is that, try to transfer your money from a Euro Account (foreign currency account). Because with Euro account, the charges on 8,500 Euro are very less as compare to Telegraphic Transfer or Bank Draft. Transfer with Euro account will charge you just few hundred rupees. And, money will also transfer in German banks within one or two days. This is the most cheapest method to transfer money from Pakistan to Germany in student blocked account.
Tip:- If you do’t have Euro account or foreign currency account in any Pakistani Bank. Then try to find any person from your relatives or friend circle, who have Euro account. If someone have Euro account then request them to transfer money on behave of you and pay them extra charges. Or request to the Bank Manager, if they have any trusted client with Euro account, then transfer your money with that person’s account if he or she agree.
Second suggestion is Western Union with same Telegraphic Transfer.
Third suggestion is Private banks. Almost all the banks charge same amount on this transaction, so there is no difference if you will choose any bank.