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Blocked account for students (DE)

Blocked Account for Students in Germany

A Blocked Account (Sperrkonto) is a special type of bank account in Germany that international students must often open to meet visa requirements. It demonstrates that you have sufficient funds to support yourself while studying in Germany.

What Is a Blocked Account?

A blocked account is a bank account where a specific amount of money is deposited and “blocked” to ensure you meet the financial requirements set by the German government. You can withdraw a fixed monthly amount to cover living expenses.

Why Is It Required?

  1. The German student visa and residence permit require proof of financial stability.
  2. The blocked account serves as proof that you can cover your living expenses during your stay in Germany.
  3. As of 2024, the required minimum amount is €11,208 per year or €934 per month.

How Does a Blocked Account Work?

  1. Deposit the Required Amount:
    • The total amount for at least one year (€11,208) must be deposited before you apply for your visa.

  2. Monthly Withdrawal Limit:
    • After arriving in Germany, you can withdraw up to €934 per month to cover your expenses.

  3. Account Access:
    • You will receive limited access to the funds. The remaining balance stays “blocked” until the next withdrawal.

Who Needs a Blocked Account?

You may need a blocked account if you are:

  1. An international student applying for a German student visa.
  2. A language course participant or preparatory student.
  3. A student seeking a residence permit for study purposes.

Steps to Open a Blocked Account

  1. Choose a Service Provider:
    • Options include:
      • Banks: Deutsche Bank (traditional option).
      • Specialized Providers: Expatrio, Fintiba, or Coracle offer faster and more convenient online services.

  2. Submit the Application:
    • Provide the required documents:
      • Passport copy.
      • University admission letter or proof of enrollment.
      • Address in your home country.

  3. Deposit the Funds:
    • Transfer the required minimum amount (€11,208 or more for additional months).

  4. Receive Confirmation:
    • Once the funds are deposited, the provider issues a Blocked Account Confirmation, which is essential for your visa application.

  5. Activate the Account (After Arrival in Germany):
    • Visit the bank or provider to verify your identity and activate the account for withdrawals.

Cost of a Blocked Account

  1. Setup Fees:
    • Ranges from €50 to €150, depending on the provider.

  2. Monthly Maintenance Fees:
    • Typically between €5 and €10.

  3. Transfer Fees:
    • International money transfers may incur additional charges.

Advantages of Online Providers

Online providers like Expatrio and Fintiba offer benefits such as:

  1. Faster Processing: Accounts can often be opened within a few days.
  2. Bundled Services: Includes health insurance and visa support.
  3. Convenience: Fully digital application process.

Using the Blocked Account for Your Visa Application

  1. Proof of Financial Resources:
    • Include the Blocked Account Confirmation with your student visa application.

  2. Additional Funding Sources:
    • If you plan to rely on other sources (e.g., scholarships, family support), provide relevant documentation.

Alternatives to a Blocked Account

If you do not want to use a blocked account, consider these alternatives:

  • Scholarships: Proof of a fully funded scholarship.
  • Parental Sponsorship: A letter from your parents showing they will cover your expenses, along with their financial documents.
  • Declaration of Commitment: A third party in Germany agrees to support you financially (Verpflichtungserklärung).

Tips for Managing Your Blocked Account

  1. Plan Your Expenses:
    • The €934 monthly withdrawal limit is intended to cover essential living costs like rent, food, and transportation.
  2. Monitor Your Balance:
    • Keep track of your remaining funds to avoid unexpected financial difficulties.
  3. Renew Early:
    • If your study program lasts longer than a year, renew the account and deposit the required amount for the following year well before the expiration.