How long does it take to open a Blocked Account?

Please note that opening a blocked account is different from getting a "Blocking Confirmation". Put simply, you get your blocking confirmation in 3 steps:
1. Open your blocked account
2. Transfer your blocked amount to your blocked account
3. Get your blocking confirmation, which is the document needed for presenting to the visa authorities
 
The time taken for each step is explained below:
 
1. Opening a Blocked Account:
Fintiba offers the fastest blocked account opening experience - depending on your individual profile and requirements, you can open a blocked account in as few as 10 minutes! Our Optical Character Recognition (OCR) technology helps us securely verify your passport almost instantly. helping us open your blocked account within minutes. If, in rare cases, the OCR isn't able to verify your passport, we reach out to you within 1 business day to complete the verification.

☝ Important: due to regulatory restrictions, applicants from Russia (RU), Ukraine (UA), Cuba (CU), Iran (IR), Syria (SY), North Korea (KP) and the Crimea region are not eligible for this process. Alternative verification methods, such as manual verification, are still available for such applicants.

 
2. Transferring the blocked amount to your blocked account
Upon successfully opening your blocked account, you will receive a "Transfer Information Document" detailing the amount that you need to transfer to your blocked account. Depending on your location and the mode of transfer, it takes 1 to 5 business days for your funds to arrive in your blocked account once you initiate the transfer.
With Fintiba Transfer, you enjoy a quicker transfer, that too in your local currency, without expensive exchange rates or additional transfer fees. Find out more under Fintiba Transfer in your Fintiba app.
 
3. Getting your Blocking Confirmation
When the required blocked amount arrives in full in your blocked account, a blocking confirmation is automatically issued within 24 hours, and you are notified of the same by email. Therefore, the sooner you complete the transfer, the sooner you get your blocking confirmation. You can download your blocking confirmation from the "Documents" section of your Finitba account, and submit it to the visa authorities. 

☝ Important: Customers falling under the "Source of Funds" category need to undergo additional verification procedures, after transferring their full blocked amount, which normally takes 1-2 weeks. A blocking confirmation is issued after successful verification.

 

NEW! The fastest way to your blocking confirmation, now even faster!

Get your blocking confirmation instantly after a single credit card payment of the complete blocked amount sum via Fintiba Transfer!

Please read the following articles to get a detailed overview of the account opening processes for all our products:
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