Blocked Account in Germany: Get Professional Help Now

October 21, 2024

If you are planning to visit Germany for your study, you need to obtain a student visa. Among the essential requirements that they give for this student visa is the availability of suitable financial resources for living expenses. Mostly, international students achieve this by opening something called a “Sperrkonto”, a blocked account in German. In this post, we’ll descend into detail about a blocked account in Germany, how important it is, how to open one, the blocked amount for Germany, and its impact on the application process for a Germany student visa.

What is a Blocked Account?

A blocked account, Sperrkonto, is one of a special type of bank accounts offered for international students living in Germany who can prove they have sufficient financial resources. It’s “blocked” because the deposited money isn’t actually locked in but only seems to be when the funds are limited, and only this fixed amount may be withdrawn per month for practical needs.

The Blocked Account in Germany amount is updated periodically to reflect the cost of living, ensuring that students are financially secure during their studies.

This is a requirement from the German government, an assurance that the international students have sufficient money to sustain themselves while studying within the country. It is particularly more important for those coming from non-EU states because proof of financial resources is one of the major requirements before availing a Germany student visa.

Why is a blocked account needed?

Germany is actually one of the most affordable places to study in Europe, however, international students must remain aware of all the costs they incur while living there, including but not limited to, rent, food, transport, health insurance, and much more. The blocked account ensures that you are adequately covered for all such expenses during your stay.

A blocked account is evidence of financial security for all German consulates and embassies. Often, it serves as an alternative to the sponsorship letter or scholarship and proof of income. If you’re an international student, securing a Blocked Account in Germany is one of the primary steps toward obtaining your student visa.

The Germany student visa blocked account amount is pre-determined and reviewed after a fixed time to increase it according to the standard living in Germany.

Blocked Account Amount for Germany

A blocked account for Germany has interest rates that rise and fall with the increase and decrease of living costs. A blocked account should at least have €11,208. This means that students can withdraw up to €934 monthly for the next 12 months.

This amount is determined based on the average living costs in Germany. Such includes rent, food, and health insurance, among other costs of living. The amount in the blocked account is an important benchmark since, by policy in Germany, the government looks forward to ensuring that students will not face financial problems during their stay in the country.

How to Open a Blocked Account for Germany

Opening a blocked account in Germany for a student visa is a pretty transparent process but needs some detail and thoroughness to do it just right. Here is how to open up a blocked account in simple words.

Choose a Provider: The blocked account can be opened in several financial institutes, such as Deutsche Bank, Fintiba, or Expatrio. Each provider has unique features; therefore, to determine which service would be more appropriate for your needs, their fees, processing time, and other terms and conditions must be compared.

Online Application: After selecting a provider, one should provide with online application form. The application can include personal details like your name and date of birth, passport number, and how you would like to study here at which university.

Submission of Documents: After filling out an application, one needs to submit some required documents. These can be the following:

Passport
University admission letter (sometimes it’s required)
German visa application form

Deposit the Blocked Account Amount: You will be required to deposit the blocked amount for Germany after your application is approved. This shall be the amount that shall be available to you to withdraw in Germany every month after entry.

Receive Confirmation: The provider sends a confirmation document to you with the information once the money is deposited. This can then be used along with the student visa application that shall be submitted to the German Embassy or Consulate.

Accessing the Funds: After you have arrived in Germany and completed all the registration formalities there, which comprise registering in the city and opening a local bank account, you will be allowed to withdraw €934 per month from your blocked account for your expenses there.

Providers of Blocked Accounts

A Blocked Account in Germany is not just a visa requirement but also a financial safety net for international students, helping them manage their monthly expenses. There are many known providers with whom you can open a blocked account to use with your Germany student visa. Some of the most widely used providers are:

Fintiba: Fintiba is one of the largest blocked account providers in Germany. The processing is fully online, and they use Sutor Bank to process your funds. Fintiba is known for its very fast processing time and is accepted by most German embassies worldwide.

Expatrio: Expatrio comes with a highly convenient online application process, and also offers health insurance packages that are only exclusive for international students. They partner with Varengold Bank and offer competitive fees.

Deutsche Bank: Deutsche Bank offers a blocked account, but with traditional services, the application process might be a tad longer, but this requires verification in person at one of their branches. Still, it wouldn’t be a bad choice for a student to take.

Costs and Fees of Blocked Accounts

Operating a blocked account in Germany incurs some costs and fees from the service provider. These charges differ with each provider, and they are as shown below:

Accounting Opening Fee: For instance, Deutsche Bank has an opening fee that usually falls in the range of € 100 – € 150.

Monthly Maintenance Fee: Most providers of blocked accounts have a very low monthly maintenance fee. This could be approximately €5 – €10 per month.

Transaction Fees: Depending on the transactions you’ll make internationally, you might incur transaction fees when withdrawing from your blocked account into a local German bank account.

Blocked Account for Germany Student Visa: Application Process

Blocked account for German student Visa is the most important part of your visa procedure. It is used in the process in this way:

Apply for Admission: You will first be required to apply and obtain an admission offer from a recognized German university or institution of learning. Together with this, you must attach your admission letter in your visa application.

Opening of Blocked Account: Once you receive your admission decision, open and finance a blocked account for the aforementioned sum of €11,208, which is currently a one-time payment.

Visa Application: Subsequently, using your blocked account confirmation and other required documents like health insurance, admission letter from the university, and language proficiency certificates, lodge your visa application either directly or through the Electronic Visa Portal to the relevant German Embassy or German Consulate for your convenience.

Visa Interview: You might be asked to appear before a visa interview, where you would have to provide the confirmation of the blocked account as proof of your financial resources.

Receive Visa: Once your visa gets approved, you are good to go for traveling to Germany. On your arrival, you would have to go through a few tiresome bureaucratic formalities, such as city registration – Anmeldung, and opening a local bank account in order to access your blocked amount.

Alternatives to Blocked Account

A blocked account still is a very common way to prove to the German embassy or consulate that you have financial resources to support your time as a German student visa holder. However, in some cases, the following methods could be applied instead:

Scholarship: If you are granted a scholarship that fully covers your living costse, you can submit the confirmation letter from the scholar and not open a blocked account.

Sponsor letter: A formal sponsorship letter issued by one parent or relative will be accepted along with proof of income and financial status by the German authorities.

German Resident Guarantor: If a close relative or friend is keen on becoming a financial guarantor and is a resident of Germany, a written declaration of commitment (Verpflichtungserklärung) can be submitted.

Conclusion

For admittance into a university in Germany, an international student should avail himself of a blocked account. Having a Blocked Account in Germany is mandatory for non-EU students applying for a student visa, providing proof of their ability to meet financial requirements. It helps students cover all costs of living and provides proof of financial stability, which German embassies require when approving the visa. Knowing the blocked account amount for Germany, how one can open an account, and what fees are involved in helping to serve most students through this process. By way of this account, you are fulfilling visa requirements but also providing for your future financial security during your studies in Germany.

FAQ’s

Can I deposit more than the required amount?

Yes, you are allowed to pay more than the amount required. Still, your monthly withdrawal will not go beyond €934 unless you have special permission to withdraw larger amounts.

What if I do not spend all the money?

If you do not spend all your money in a given month, the balance will roll over to subsequent months. So when you are finally done studying, you may close that account and get out your remaining balance.

Is it possible to use a blocked account for the extension of a visa?

Yes, if you need an extension of a visa or residence permit, you may be required to prove your continued financial stability. In such a case, you can top up your blocked account to meet the requirements for extending it.

Is health insurance mandatory to open a blocked account?

Though opening a blocked account does not require health insurance, you will need it for the application for your visa and subsequent residence in Germany. Most providers of blocked accounts offer packages of health insurance for international students.