German Blocked Account – A full guide.

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German blocked account or proof of financial means is amongst the most important requirements for a German student visa, for residents of non-EU countries who wish to study in Germany

Proof of financial resources is an important condition to get your student visa and your study residence permit.

What is a Blocked Account?

Firstly, the German blocked bank account (Sperrkonto) is designed to serve international students and job-seekers as proof of financial resources for living in Germany for a year and is a requirement when applying for a German student visa or a student residence permit

It’s known as a “blocked account” because the money deposited into the account cannot be withdrawn until the account holder arrives in Germany.

From 1 January 2021, the annual requirement that must be paid into the blocked account when applying for a visa is a minimum of 10,332 euros.

Can i Study in Germany Without a Blocked Account?

Secondly, Yes you can study in Germany without a blocked account if you can provide proof of financial resources by providing one of the following:

A document of your parent’s income and financial status.
Scholarship Certificate from a recognized scholarship provider.
Letter of Commitment (Verpflichtungserklärung): Through this document, a permanent resident of Germany (a relative or a friend) can guarantee they will cover all your expenses during your time as a student.
A bank guarantee.

Blocked Account Providers

Previously, a German blocked account was only offered by Deutsche Bank, a renowned, fully licensed German bank. Since then, a few more established providers have entered the market, offering online solutions for blocked accounts and other services that complements it. Most of these providers don’t act as a bank themselves but work with a partner bank or a financial service provider. Here are some of the most popular blocked account providers in Germany:

Deutsche Bank
Fintiba
Expatrio
Coracle

Comparisons Between Blocked Account Providers

	Deutsche Bank	Fintiba	Expatrio	Coracle
Market Entry	Incumbent	2017	2018	2018
Financial Partner	Deutsche Bank	Sutor Bank	Mango Pay (Luxembourg) as a financial service provider with BNP Paribas France as custodian	Lemonway (France) as a financial service provider with BNP France as custodian
Fully licensed German bank	Yes	Yes	No	No
Listed by German Federal Foreign Office	Yes	Yes	Yes	Yes
Accepted by local foreign offices	Yes	Yes	Partially	Partially
Online document exchange	Account opening offline and via courier.	Secure mobile and web application	Web application	Web application
Set Up Fee	150 €	89 €	49 €	99 € (Coracle Basic)
Account Opening Time	1 week	10 minutes with automated AI-identification	One working day.	One working day
Transfer Option	International bank transfer, SEPA	Option A: Fintiba Transfer: Third-party transfer via partner xCurrency and Transfermate. (including credit card payment option): 1-3 working days Split into several transfers possible in exceptions Option B: SEPA transfer; duration: same day to max 1 working day Option C: International Bank transfer (1-2 weeks)	Option A: Transfer via transfer provider Cohort Go, Instarem, Moin (Korea); Duration: 3-5 daysEverything must be transferred in one transferOption B: SEPA transfer; duration same day to max 1 working day) Option C: International Bank transfer	No integration of transfer provider Option A: SEPA transfer; duration same day to max 1 working day Option B: International Bank transfer
Transfer Currencies	Euro only	Wide range of currencies supported with Fintiba Transfer	Through Cohort Go, several local currencies are available. If local currency not available, then EUR or USD.	Euro Only
Blocking Confirmation Issuance	After receiving the full blocking amount, the student and the German embassy automatically receive a confirmation by e-mail.	After 1-3 days, depending on the transfer option Instant issuing after money arrival	After 1-5 days, depending on the transfer option	After 3-5 days, depending on the transfer option
Requirements for account activation in Germany	Account activation at local branch together with the provision of city registration certificate	Visa (or entry stamp) Upload	· Visa or entry stamp · Current account opening confirmation · City registration (or other proof of address)	· Visa or entry stamp · City registration
Mobile App	Only for current account function, not blocked account processes	Yes	No	No
Multi-Language Support	English, German	English, German, Chinese (QQ & WeChat support)	Chinese and English (QQ & WeChat support)	Only English

How to Open a Blocked Account in Germany

Choose the provider.
Apply online for your blocked account.
Download and fill the pdf application form (which only applies to Deutsche Bank).
Seek proper legalization at the German embassy (only if you’ve chosen Deutsche Bank).
Deposit funds.
Get your blocking confirmation.

Documents Required to Open a Blocked Account

With Fintiba, you would only need an ID card or passport to register and create your account.

With Deutsche Bank:

An application form
Your valid passport
The admission letter from your university
A bank statement of your income
A prepaid fee