Using a blocked account

If you require a visa to come and study in Belgium or you have to renew your residence permit, you need to provide proof of solvency. In other words, you need to prove that you have sufficient means of subsistence for your study period in Belgium. There are a few options to do so: you have a study grant, you can make use of a sponsor or you can use the blocked account procedure.

Please note that presenting proof of sufficient funds in your own bank account will not be accepted. Only a blocked account, sponsor or attestation of a grant is acceptable.

How does the blocked account procedure work? 

Procedure for opening a Blocked Account at Odisee 

  1. You fill out the online agreement form provided by Odisee. 
  2. Transfer directly EUR 10 000 to the bank account of Odisee (bank account details are available on the online agreement form). 
  3. Email us the proof of payment to admissions@odisee.be 
  4. Upon receiving the funds, Odisee will immediately reserve these funds in a blocked account in your name for the duration of your studies. (10 000 EUR = 12 months x 825/ month + 100 eur administrative costs).
  5. Once we receive the requested amount, you will be issued a Financial certificate by email. The process of receiving your proof of solvency can take up to 10 working days. 
  6. Attach your proof of solvency to your visa/residence permit application. 

Upon arrival in Belgium

  1. Set up a current bank account in an EEA country (preferably Belgium) into which an amount of EUR 825 will be refunded each month. 
  2. Send a bank identity certificate (official document with your name and IBAN) to admissions@odisee.be 

Renewal of residence permit 

  1. All the previous steps are required even if you had a blocked account at Odisee in previous academic years. 

Important notes: 

  • This is an official procedure that has been agreed upon with the Immigration Office of Belgium. They aim to ensure financial means throughout your stay, preventing dependence on the Belgian State. 
  • As the money is reserved in your name, no interest is foreseen for you nor the university and will not be used to pay your tuition fee. 
  • The administration fee amounts to 100 EUR (already included in the EUR 10 000 transfer). This fee is an all-in lump sum and covers all administration costs and services of Odisee with regard to this procedure. The administration fee applies again if you extend an existing blocked account.
  • In case you fail to arrive on time to start your studies at Odisee, the money will be refunded to the account in your home country. The administration fee of 100 EUR will be deducted from the amount. The refund can only be done into the account from which we received the initial payment.
  • Make sure you have sufficient pocket money at your disposal when you come to Belgium. You will receive the first payment of 825 EUR in October. So if you were to arrive already in August or September, please prepare other means to bridge this period.
  • You will need to prove your financial means, and thus repeat this procedure, at the start of each year of your academic studies in Belgium. It is one of the conditions to be able to renew your Belgian residence permit. It is expected that each year the amount required by law will be increased.
  • For opening a new bank account in Belgium Odisee recommends one of the following companies: KBC, Revolt and Wise. But feel free to choose any other bank company in Belgium you want. 
Money with a chain and padlock