First, I will explain; why blocked account (Sperrkonto) is required? Germany is attractive for international students because of two reasons; tuition free education and low cost of living. Germany has around 400 state-recognized universities that offering more than 19,000 courses. In these 400 universities; 240 are the state funded universities and 160 are the non-state universities. In 240 state universities, majority is offering tuition free education.
If we talk about low cost of living. Then Germany is among those countries who has low cost of living with high standard of life. That’s why, foreign students want to move in Germany for higher studies.
Tuition free education means; education with no cost. But to fulfill all the living expenses, students need finances. International students especially non-EU students required visa to enter in Germany. To get this visa, non-EU students needed to show a certain amount of finances that proves; students (applicant of visa) are able bear all the living expenses by their own. One of the most popular and recommended method to show these finances is blocked account (Sperrkonto).
What is a Blocked Account (Sperrkonto)?
Blocked account (Sperrkonto) is a bank account that handled with certain restrictions set by a state or law. It works like a normal bank account. But user can only withdraw a specific amount. Blocked account introduced by German authorities for non-EU students; who want to come to Germany as a self-financing student.
This blocked account (Sperrkonto) has some specific restrictions set by these authorities. These restrictions are; students are required to deposit 10,236€ in this account and they can withdraw only 853€ per month after relocation to Germany.
Where can I open a Blocked Account?
You can open blocked account in specific German banks. These banks are:
- Deutsche bank
Deutsche bank don’t offer online services for block account. But Fintiba, Coracle and Expatrio offer online services to open block account. That’s why, it’s much easier to open block account in Fintiba, Coracle and Expatrio as compare to Deutsche bank.
How much money required to deposit in Blocked Account?
It’s obligatory for non-EU students to deposit 10,236€ in blocked account. Each bank has their own account opening charges. So, also add these charges in total amount.
How do I open Blocked Account in Deutsche bank:
- Download account opening FORM from official website of Deutsche bank.
- Fill it with personal information and take a print.
- Visit personally or book an appointment in German embassy present in your country. (check these details on website of German embassy)
- Arrange one copy of passport and one copy of university admission letter.
- Appear in embassy any day or on appointment day. Embassy will attest the documents and then send by mail to Deutsche bank.
- You will get a confirmation from Deutsche bank via mail and by post once they will receive your documents. Confirmation will contain your account details.
- Immediately transfer 10,236€ in this account. Then Deutsche bank will send you a confirmation of this transfer. You can use this confirmation letter to get visa from German embassy. More details…
How to open Blocked Account with Fintiba?
- Arrange 10,236€ and a scanned copy your passport.
- Visit official website of Fintiba and choose ‘Open Account Now’ option.
- Follow the procedure, fill application form and upload scanned copy of your passport for identity verification.
- Once verification process will complete. Fintiba will send you account opening confirmation via email. This email will contain your block account details.
- Transfer 10,236€ in this account.
- After successful transfer, Fintiba will send you a confirmation via email. You can use this confirmation letter to secure your visa. More details…
How do I open Blocked Account with Expatrio?
- Visit official website of Expatrio and choose ‘Blocked Account’ option.
- Follow the instruction, provide your personal information and submit.
- You will get a confirmation email form Expatrio right after submission of personal details. This confirmation will contain your block account details.
- Transfer 10,236€ in this block account.
- Expatrio will send you a confirmation letter after successful transfer.
- Utilize this confirmation letter to secure student visa. More details…
How do I open Blocked Account with Coracle?
- Go to official website of Coracle and choose ‘Open Now’ option.
- Follow the procedure, and provide your personal information to Coracle. Also upload scanned copy of your valid passport.
- Coracle will send you confirmation of account within 24 hours. Confirmation email will contain your account details.
- Transfer 10,236€ in your Coracle block account.
- Coracle will send you confirmation of this transfer.
- Use this confirmation letter to get visa for Germany.
Opening a Blocked Account (Sperrkonto) when you are already in Germany?
If you are already living in Germany and want to open a block account. Then you have many options. You can open a blocked account in following banks:
- Deutsche bank
Just visit nearest branch of any of these banks with your personal documents (e.g residence permit, admission letter) and request to open block account.