Understanding German Blocked Accounts: A Guide for International Students and Job Seekers

Understanding German Blocked Accounts: A Guide for International Students and Job Seekers

Embarking on a journey to study abroad in Germany, or to pursue a job-seeking visit, is an exciting endeavor filled with promises of new experiences, growth, and cultural immersion. However, amidst the flurry of preparations, one crucial aspect often perplexes many arriving internationals: proving financial stability to the Ausländerbehörde (Immigration Offices).

While initially daunting, the financial prerequisite ensures that students, and those on job-seeker visas, have the necessary funds to support themselves during their stay in Germany. One of the easiest and most preferred ways is through a German blocked account (Sperrkonto). This comprehensive guide will delve into the intricacies of German blocked accounts, unraveling the what, why, and how.

What is a German Blocked Account?

At its core, a German blocked account (Sperrkonto) is a specific type of bank account where funds are “blocked” or inaccessible for a designated period. International students and job-seekers must deposit a predetermined amount of money into this account to prove financial stability during their time in Germany.

As of 2024, the required total amount is €11,208 per year, which once secured in the blocked account is then disbursed in €934 installments every month to a personal bank account. This requirement helps to ensure that students in particular can afford accommodation, food, study materials, and other daily expenses without needing to work excessively, which could detract from their studies.

What is Required?

The requirement for a German blocked account stems from the country's commitment to ensuring that all individuals residing within its borders have the means to sustain themselves financially. By mandating this account for international students and job-seekers, Germany aims to alleviate concerns about potential financial strain and minimize the risk of such individuals facing hardship during their academic or career-search pursuits. Moreover, it safeguards against exploitation or abuse of social welfare systems, fostering a sense of responsibility and self-sufficiency.

How to Set Up a Blocked Account?

Navigating the intricacies of setting up a German blocked account may seem daunting, but the process is relatively straightforward. As of 2024, several reputable companies and financial institutions provide German blocked account services for international students and job-seekers. The three main ones include:

1. Expatrio (https://www.expatrio.com/): Expatrio is popular choice for international students seeking blocked account solutions in Germany. Their streamlined application process, competitive exchange rates, and dedicated customer support make them a preferred option for students navigating the complexities of studying abroad and those pursuing job-seeker visas.
2. Fintiba (https://fintiba.com/): Fintiba is a leading online platform specializing in financial solutions for internationals in Germany. They offer a user-friendly interface for opening and managing blocked accounts, along with additional services such as health insurance and assistance with visa processes.
3. Coracle (https://www.coracle.de/en/blocked-account): Another digital service provider, Coracle offers a seamless experience for setting up a blocked account and includes options for combining the account with health insurance and other student services. 
   

Are There Alternatives to a Blocked Account

While a blocked account is the most common method for proving financial resources, there are alternative ways to meet the financial requirements set by the Ausländerbehörde:

1. Scholarship Certificate: If you have a scholarship from a recognized organization, the certificate can serve as proof of financial means. The scholarship should cover at least €934 per month. Potential Scholarship options include:some text
   • DAAD Scholarships - https://www.daad.de/en/
   • Erasmus+ - https://erasmus-plus.ec.europa.eu/ ‍
2. Declaration of Commitment (Verpflichtungserklärung): A German resident (usually a relative or friend) can provide a declaration of commitment, taking on the responsibility for your living expenses. This document must be notarized!‍
3. Proof of Parental Income: If your parents can provide evidence of sufficient income and bank statements, this can sometimes be used as proof. However, this method is less commonly accepted and may require additional documentation such as bank statements and other notarized documents.

How VisaFlow Can Assist You

At VisaFlow, our mission is to simplify the visa application process for internationals seeking to expand their academic and professional careers in Germany. Our platform offers step-by-step guidance to ensure that all requirements, including setting up a blocked account, are met efficiently. We have personal experience with blocked account providers and give students and professionals reliable and streamlined options. Additionally, our personalized support and resources can help you navigate the complexities of the German visa process with confidence.

Whether you are at the beginning of your visa journey or in the process of your residence permit, VisaFlow is here to support you every step of the way. Explore our platform to find out more about how we can make your transition to Germany smooth and stress-free!