Applying for a visa can be a long and drawn-out process, with countless documents and requirements. If you are applying for a German Student Visa or Job Seeker Visa, one of the most confusing parts of the process is the Blocked Bank Account.

If you have recently been informed that you need a Blocked Bank Account (Sperrkonto) before you apply for your visa but you aren’t exactly sure what that means, this article should answer your questions.

What Is a Blocked Bank Account?

A Blocked Bank Account is one of the ways you can use to give “proof of financial resources” when applying for a Germany Visa. It is a specific type of bank account, in which students can deposit the required amount of money for a student visa. As of 2020, the yearly amount is a minimum of €10,236 or €853 per month.  The way the process works is:

  • You deposit at least €10,236 in a Blocked Bank Account in Germany
  • The money will be “blocked” and you can only withdraw a maximum of €853 per each month of your stay in Germany.

This serves as proof that you will have the necessary financial means each month to cover your expenses while living in Germany.

Who Needs a Blocked Bank Account?

You need a Blocked Account if you are applying for one of the following types of Germany visas:

You also need a Blocked Bank Account when you apply for your German Residence Permit. So even if you don’t need a visa to enter Germany, you still have to get a Blocked Bank Account if you are entering Germany for studying or job-seeking purposes. If not, you cannot get your residence permit (the residence permit allows you to live in Germany longer than three months). This includes nationals from Australia, Canada, Honduras, Israel, Japan, New Zealand, Republic of South Korea, and the United States of America.

Note: Failing to prove sufficient funds for your stay in Germany will result in visa refusal.

How to Open a Blocked Bank Account for Germany Student Visa?

There are two main options that international students choose when they open a Blocked Bank Account:

  • Through Fintiba.
  • Through Deutsche Bank.

Fintiba offers an easy and secure way of opening a Blocked Bank Account for international students and job seekers in Germany.

If you choose Fintiba you won’t need to submit any documents in hand! You will only need to submit your passport electronically.

When to Open a Blocked Bank Account?

You should start the process of opening a Blocked Bank Account after you receive the Letter of Acceptance in your chosen university in Germany. It is advisable to make an appointment with the German Embassy or Consulate where you will apply for the visa. Once they give you the list of requirements, start the process of opening your Blocked Bank Account.

Opening a Blocked Bank Account with Fintiba

Fintiba is the easiest and fastest option when it comes to opening a Blocked Bank Account. The process is done entirely online, and what’s better, you don’t have to wait for weeks on end and deal with bureaucratic services.

Fintiba is a company that works in partnership with the Sutor Bank in Germany in order to facilitate the process of opening a Blocked Bank Account. Through them, you will open your account on Sutor Bank, where your money will be transferred. If you are worried about safety, then you will be glad to know that Fintiba has been officially approved and recommended by the German Federal Office.

The process for opening a Blocked Bank Account through Fintiba is as follows:

  • Register on the Fintiba website.
  • Complete the application form. Once you start the registration process, you will have to answer several questions.
  • Upload a scanned picture of your passport.
  • Your account will be opened in about 10 minutes. Once you create the account:
  • Transfer the money. Depending on the bank you are transferring the money from and the country, this could take up to five days. You also have to pay the processing fee, which is about €89.
  • Wait for the confirmation email. Once you receive the email, you will know your Blocked Bank Account has been created and it is active.
  • Print the Confirmation Email. Attach it with the rest of your German Student Visa documents and
  • Submit the Confirmation to the German Embassy/Consulate to apply for your visa.

It really is as easy as that: If you open your Blocked Bank Account through Fintiba, you don’t have to make a trip after trip to legalize and obtain documents, and you don’t have to wait longer than a few days (at most 5). This will ensure a smoother and quicker process toward obtaining your visa.

Additionally, Fintiba has a help and contact center available to help you if you are confused during the process, as well as an informational guide and they will respond quickly to any of your inquiries.

Here’s a detailed step by step video about opening a blocked bank account with Fintiba:

Opening a Deutsche Bank Blocked Account

If you want to open a Deutsche Bank Blocked Account, you will have to do so through the German Embassy or Consulate in your country. There is no online process available, therefore it will take longer – usually about 2-3 weeks, if not more. You must also legalize several documents before submission. Overall, it is a much longer process, and it costs more upfront.

  1. Download the application form from their website.
  2. Complete the application form electronically and then print two copies. There are several pages of questions and regulations, so be sure to answer them all accurately, and read the instructions carefully. Once you print the application form:
  3. Send the following documents to the German Embassy/Consulate to be legalized:
    • Your valid passport
    • A copy of the Acceptance Letter at your school/university
    • A prepaid envelope from a private service provider (FedEx, DHL, UPS, etc.).
    • Proof of the source of your funds
  4. Submit the documents and a copy of the application form to the German Embassy/Consulate in your country/nearest to you.
  5. The German Embassy or Consulate will send the application to the relevant Deutsche Bank branch in Germany via mail.
  6. Once the application has been processed, Deutsche Bank will send you your IBAN and BIC either through your email or registered address. (You select your preferred method of contact at the time of application). This is usually after a few weeks.
  7. Transfer the money at the Blocked Bank Account in Deutsche Bank.
  8. Once the bank receives your money, they will notify you via email or registered post.

If you will open your Blocked Bank Account through this method, make sure to start the process well in advance from the time you intend to arrive in Germany.

What Happens with the Money in the Blocked Bank Account if the Visa Is Rejected?

If your visa is rejected after you have already deposited the money in the Blocked Account, you need the letter of visa rejection from the German Embassy or Consulate. You have to send the letter to Fintiba or Deutsche Bank, and they will close your Blocked Account and transfer the money back to your original account.

If you want to cancel your account after you are already in Germany, you have to prove you intend to leave Germany afterward (ie. your visa/residence permit must also be canceled). For this, you need a letter of confirmation from the Foreigners Office (Ausländerbehörde). Again, your Blocked Account will be closed and the remainder of the money will be transferred back to your original account.

Do I Need Another Bank Account Where I Can Withdraw Money?

Yes, once you arrive in Germany you will have to open another bank student account in which the money from your Blocked Account will be transferred every month. You can open the account at any bank you wish.

How Much Does It Cost to Open a Blocked Bank Account?

The cost of opening a Blocked Bank Account changes depending on the method/bank.

If you apply through Fintiba, you will have to pay an initial fee of €89 and then a monthly fee of €4.90.

If you open your account through Deutsche Bank, you have to pay the initial fee of €150 and then the monthly maintenance fee of €5.90. Additionally, you also have to pay a fee for the certification of your documents (the prices range depending on the country where you are applying).

Also, keep in the fees you will have to pay while making the international transfer between accounts.

To save up to 60% in administrative and maintenance fees for opening German Blocked Bank Account, we recommend you choose Fintiba.

Fintiba manages your entire application process online, so you won’t have to hand in ANY documents. You will just have to scan and upload your passport to the application page!

What Documents Do You Need to Open a Blocked Bank Account?

If you are applying through Fintiba, you don’t need to submit any documents, other than your passport. Since the entire application is done online, you have to scan your passport and upload it electronically. This serves as proof of your identity.

If you want to open a Blocked Account with Deutsche Bank through the German Embassy/Consulate, you have to submit several documents, including:

  • Your valid passport
  • A copy of the Acceptance Letter at your school/university
  • A prepaid envelope from a private service provider (FedEx, DHL, UPS, etc.). Deutsche Bank will use the envelope to send/return any relevant documents to you.
  • Proof of the source of your funds

First, you have to send the documents to the Embassy/Consulate so they can certify them, and then they will mail the documents to Germany for you.

Can the Blocked Bank Account Be Under Someone Else’s Name?

It is best if the Blocked Bank Account is under your own name, otherwise, you might encounter problems later down the line.

How Old Do I Have to Be to Open a Blocked Bank Account?

If you are opening the Blocked Account through Fintiba, you have to be at least 18 years old. If you are opening it through the German Embassy/Consulate, then there are no age restrictions.

What If I Deposit More Than the Required Amount?

If you deposit more than the minimum required amount, you will be able to withdraw more than €853 per month, but only until the extra money is spent.

Can Someone Else Deposit the Money for Me?

Yes, someone else can deposit money on your Blocked Account for you, but you will have to give them the authorization to do so, and they have to prove their identity.

What If I Need More Than €853 per Month?

If for some reason, you need to withdraw more than €853 per month, you will have to make a request with the local immigration authorities, so they give you permission to release the required amount.

Alternatives to Blocked Bank Account

If you don’t think that a Blocked Bank Account will suit your needs during your studies in Germany, you have the option of submitting other proof of sufficient financial means. Alternative methods of providing proof you have the necessary funds to cover your stay in Germany during your studies include:

  • A scholarship
  • Bank account statements of your parents/guardians
  • Letter of sponsorship from someone in Germany

Of course, the German Embassy or Consulate in which you are applying will decide whether what you have submitted as proof of financial means is adequate.

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