Opening a Blocked Account in Germany – A Complete Guide

 The German Embassy or Consulate requires you to provide a document as proof of your finances (Finanzierungsnachweis) when you apply for a student or job-seeker visa. This will typically need to be a Sperrkonto, or blocked bank account.

What Is a Blocked Bank Account?

A blocked bank account is evidence that, as an international student or job seeker, you can support yourself financially. You need to transfer €11,208 into a bank account registered in Germany before moving to that country. It is called a "blocked" account because this money will be frozen and you will only be able to withdraw €934 per month to use for your regular expenses after you arrive.

Who Needs to Open a Blocked Bank Account?

You need a blocked account for Germany if you are not from a European Union or Schengen Member State, and then you need to apply for one of the following German visas:

  • Student visa
  • Job-seeker visa
  • Training or apprenticeship visa
  • Visa for the recognition of foreign qualifications
  • Visa for language acquisition

 

Process of Opening a Blocked Bank Account

Since you need to open a blocked account before applying for a German visa or residency permit, you usually need to be in your home country to do so. Depending on the service provider you select, the procedure may differ, but the general steps are as follows:

·       Speak with the German Embassy or Consulate to find out the precise amount of money needed. It is imperative that you do not make any deposits prior to verifying the minimum amount needed, even though it frequently stays the same for every applicant.

·       Create a blocked account at the bank of your choice. You can open an account online if you deal with intermediaries such as Fintiba, Expatrio, or Coracle. If you approach a bank directly, though, you will probably need to submit a paper application; if you live outside of Germany, this is typically done through the German Embassy.

·       Keep checking your application to be processed.

·       Obtain the letter of confirmation from the bank. You will receive the Confirmation Document for a Blocked Bank Account from the provider after the transfer is complete, and you need to show it to the German Embassy.

·       Await the issuance of the visa. Once the confirmation letter and necessary documents have been submitted, you will have to wait for the processing of your visa. You will be given a National D Visa upon approval, which will allow you to enter Germany.

 

Top Providers of Blocked Accounts

International students can obtain blocked accounts from several reliable German providers. Among the well-known suppliers are Fintiba, Coracle, and Expatrio. These companies not only make it easier to open a blocked account, but they also provide extra services like health and travel insurance, which are frequently required.

Comparison of Blocked Account Providers in Germany

There are multiple options to choose from when it comes to a blocked account provider in Germany. Let's examine the features and cost structures provided by Expatrio, Fintiba, and Coracle, three well-known providers:

Coracle

Expatrio*

Fintiba

Rating On TrustPilot

4.9

4.2

4.5

Customer Support

Within 2-3 hours

1-3 days

2-4 days

English Website & Support

 yes yes yes

Yearly Fees

Starts from €59

€60(Adv payment of 109, with 40 reimbursed)

€89

Monthly Fees

None

€5

€4.90

German IBAN

 yes yes yes

Health Insurance (Public)

Yes, Choose TK, Barmer or AOK

Yes TK

Yes DAK

Travel Insurance

 yes yes yes

Approved by the German Foreign Office

 yes yes yes

Deposit Amount more than €11,208

 yes yes yes

 

Blocked Account Eligibility

You must have a blocked account if you are applying for a student visa, job seeker visa, training or apprenticeship visa, or language course visa in Germany and you are not from an EU or Schengen Member State.

 

FAQs

What role does a blocked account play in getting a residency permit or student visa?

To prove that you have the financial means to support yourself while visiting Germany, a blocked account is used. It is necessary to get a residency permit or student visa.

How much money must be deposited as a minimum to open a blocked account? 

To open a blocked account, you must deposit a minimum of €11208, which is equivalent to €934 every month for a maximum of 12 months. It is imperative to verify with your embassy or consulate as this amount might change.

Are there any other ways to demonstrate financial support for studying in Germany?

Yes, you can offer bank statements from your guardians' or parents' accounts or a letter of sponsorship from a German citizen as additional evidence of your financial means in addition to a blocked account.

Is it possible for me to pay my tuition and other school fees with a blocked account?

In general, tuition and other school fees are not paid from a blocked account. These costs are usually paid by credit card or bank transfer to the educational institution directly.

What is the duration required to open a blocked account in Germany?

A blocked account's opening time can vary depending on several factors, such as your country, the provider you choose, and the German embassy's processing speed. Generally, if all goes well, it can take up to a week.

While I am studying in Germany, is it possible for me to take money out of my blocked account?

To pay for living expenses, you can withdraw up to €934 monthly from your blocked account. If you would like, you can take the money out gradually.

Can I unblock my account before finishing my coursework?

In general, a blocked account is not meant to be closed before it serves as a source of funds for the duration of your studies. To learn more about your options, you can speak with the bank.

 

 Read more: How to Open a Blocked Account for Germany: A Complete Guide 2023


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