What is a blocked account?
A blocked account or a Sperrkonto is a special type of bank account that International students need to open under German law. The amount that you deposit in this account can only be withdrawn till you(the owner of the account) arrive in Germany. The bank you open the account with should be a legal bank with all the licenses.
You will need the relevant documents of a bank account in Germany if you submit an application for a German study visa. Non-European students need to apply for a German Blocked Account after receiving the Letter of Acceptance from the German university. The account should be opened preferably in the student’s name.
What is the minimum amount required to open a Blocked account?
The amount required for opening the account is at least 11,172 euros for the year(as of September 1 2022). The maximum amount you can withdraw from a blocked account is 931 Euros monthly. This amount is proof of the visa applicant’s financial security. It shows your ability to support yourself during the first year of the course and should ideally cover your living expenses, travel costs, and food and accommodation expenses. The amount is fixed by the German government for all students. When you reach Germany you can use this account which stays blocked till your arrival.
Third-Party Deposits on your behalf
If you are wondering whether a third party can deposit money on your behalf, it is possible for a third party to deposit money. The blocked account holder can submit identification details of the third party to the bank.
Where does the bank send your account details and relevant documents?
Once you arrive in Germany, you will need to register your address with the Resident’s Office Registration, called the “Einwohnermeldeamt”. You have two weeks from your time of arrival in Germany to do this. Your bank will then forward the bank details and related documents to the address you provided at the time of registration.
Opening a Current Account along with a Blocked Account
A second Current bank account has to be opened along with the blocked account. This is required so that money from the blocked account is transferred to it on a monthly basis. The student can open this account once he reaches Germany and operates out of this account.
Documents required to open a Blocked Account
Students who want to open a blocked account in Germany should have certain documents listed here :
- Application form for the Blocked account
- A valid passport
- University admission letter
- The fees they have to pay to their respective university and
- A bank statement that confirms they have the required amount of money to open a blocked account.
Various bank providers can ask the student to furnish more documents according to their rules.
Blocked Account for a Residence Permit and Job Seeker Visa
If someone applies for a Residence Permit then to he will have to open a Blocked Bank Account. A Residence Permit gives permission to stay in Germany for more than three months.
Blocked Account facilities with Fintiba
The Fintiba Blocked Account provider provides the facility of opening the account online in 3-5 working days. The student requires a valid passport for doing this. Fintiba has a mobile app as well to provide access to your account. The registration is done on their website. After filling the application form and transferring the money, you will need to print out the confirmation document. Submit this with the visa application form.
Proof of funding for a Blocked Account
There are some other ways of providing proof of sufficient funds, to prove your ability to see through your stay in Germany.
- You can present income assets documents of your parents
- A sponsorship letter is given by a known person in Germany who provides a surety of your financial support.
- Any scholarship from a valid university or a Schengen Visa is another proof of financial strength.
If you get a No-Objection letter from the university you are joining it is a declaration of trust in you that you will come back to your own country. This expedites the process of granting you a student visa.
When is it not mandatory to open a Blocked Account?
The situations in which an opening of a Blocked Account is not mandatory is if you give a document that confirms the strong financial standing of your parents, a certificate of a scholarship, a Letter of Commitment called Verpflichtungserklärung in German that is provided by someone you know who lives in Germany. They assure the government that they are financial support to you. The person who sponsors you should make a formal request at the Ausländerbehörde which is the local Foreigners Office.
Certain blocked account providers give health insurance along with the facility of opening a blocked account. Health insurance is also a factor for students to get a visa.
Some Blocked account providers
If you are wondering who are German Blocked Account Providers, Fintiba
Expatrio and Coracle are providers you can use. Fintiba has its own app through which its various processes are segregated and work is done effectively.
How can you close a Blocked Account?
An official letter from the Embassy stating that your visa is rejected is required to close the blocked account. If the Foreign office in the German city you are studying provides a letter permitting you to close the blocked account then you can also close the account.
Refund from a Blocked Account on account of non-approval
If a situation arises wherein your application for a student visa does not receive approval, the bank in which you opened the blocked account refunds your money. The processing fee and account opening fee amount are deducted before the rest is returned to you.
Opening a Blocked Account when you reach Germany
People from some countries like the United States of America, Australia, Canada, Israel, Japan, New Zealand, or South Korea, are allowed to open a blocked account after they reach Germany.
We hope this information helps you with your Visa application process and provides you with enough information to open a Blocked account!