Can you explain the blocked account requirement for New Zealand and Ireland?
Neither New Zealand nor Ireland uses a true blocked account like Germany. New Zealand instead runs the Funds Transfer Scheme, needing NZD 20,000 for select nationalities, while Ireland requires 10,000 euros in fully liquid, accessible funds for courses longer than eight months, with no locked account accepted.
Neither country forces you into a German-style blocked account, but each has its own way of proving you can support yourself. New Zealand uses the Funds Transfer Scheme for students from certain countries, while Ireland insists your money stays completely liquid and accessible rather than locked away anywhere.
New Zealand vs Ireland, Side by Side
| Feature | New Zealand (FTS) | Ireland |
|---|---|---|
| Blocked account required? | Only for select nationalities, including Nepal | No, funds must remain fully liquid |
| Minimum living funds | NZD 20,000 for the first year | 10,000 euros a year (or 833 euros/month if course under 8 months) |
| How funds are released | Monthly instalments of about NZD 1,667 after arrival | Held by you, or paid via an optional 10,000 euro Education Bond |
| Tuition rule | First-year fees must be paid or loan-covered | Minimum 6,000 euros paid upfront to the institution |
What Each Country Actually Wants to See
- New Zealand: if FTS is not mandatory for your nationality, regular 6-month bank statements or an approved loan letter work fine.
- Ireland: you need a 6-month bank statement history on official letterhead, and any locked or fixed-term account is usually rejected unless the bank confirms it is withdrawable anytime.
My Advice
Check whether the Funds Transfer Scheme actually applies to your nationality before you assume you need it, since many Indian applicants only get asked for it case by case rather than automatically. For Ireland, avoid moving your funds into any fixed deposit close to your application date, since immigration officers specifically look for liquid, easily traceable money rather than newly parked lump sums.
Cash income, business income or no ITR?
See whether your funds and documents will pass the Irish visa check.
More Student visa questions
- Is a loan sanction letter from the government regulated Indian Bank accepted for a UK student visa application?
- How much bank balance is needed for an Italy student visa after failing math in 12th grade?
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- Which countries have less strict or different financial requirements compared to New Zealand, especially regarding funding duration?
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More Ireland questions
- Is it possible to study computer science with specialization in artificial intelligence in UK/New Zealand for a Master's?
- Can you add preferences for good digital marketing and performance marketing courses in New Zealand for a Master's?
- Do I need to show living expenses in my bank account for visa purposes, and can I withdraw it after reaching Ireland?
- Can you tell me which colleges provide good scholarships, especially need-based rather than merit-based scholarships in Ireland/France for a Master's?
- Which country is more suitable for a Computer Science master's student who prioritizes lower costs and a strong job market, Germany or Ireland?
- After completing my studies, can I stay back in Ireland and apply for permanent residency for a Master's/Bachelor's?
- Will there be any problems if I do my studies offline abroad given the education structure is different from India in Ireland/Canada?
- Can you explain the difference between Germany and Ireland regarding dependent visas and family stay for a PhD?