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How to open a blocked account for germany?

HotBotBy HotBotUpdated: August 29, 2024
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Opening a blocked account, or "Sperrkonto," is a crucial step for international students and professionals planning to move to Germany. This account is mandatory to prove you have sufficient funds to support your stay in Germany. The process can seem daunting, but this guide will break it down into manageable steps, ensuring you understand each phase thoroughly.

Understanding the Blocked Account

A blocked account is a special type of bank account where a certain amount of money is deposited and blocked for withdrawal. The German government mandates this to ensure that you have the financial means to support yourself while living in the country. As of 2023, the minimum required amount is €11,208 per year, which translates to €934 per month.

Why You Need a Blocked Account

Primarily, a blocked account is required for obtaining a student visa, language course visa, or job seeker visa for Germany. The account serves as proof of financial stability, assuring the authorities that you will not become a financial burden on the state.

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Choosing a Bank or Service Provider

Several banks and financial service providers offer the option to open a blocked account. Each has its own set of requirements, fees, and processing times. Here are some popular options:

  • Deutsche Bank: One of the traditional banks offering blocked accounts. The process can be lengthy and often requires visiting a branch.
  • Fintiba: A digital solution that simplifies the process. Recommended for its user-friendly interface and quick processing times.
  • Expatrio: Another digital service provider known for its comprehensive packages, including health insurance and other essential services.
  • Coracle: Emerging as a popular option due to competitive rates and efficient processing.

Steps to Open a Blocked Account

Step 1: Collect Required Documents

Before initiating the process, gather the necessary documents. Typically, you will need:

  • Passport copy
  • University admission letter (for students)
  • Proof of source of funds
  • Completed application form (specific to the bank or provider)

Step 2: Initiate the Application Process

Once you have the documents, follow these steps:

  1. Visit the Website: Go to the website of your chosen bank or service provider.
  2. Fill Out the Application: Complete the online application form. Ensure all information is accurate to avoid delays.
  3. Submit Documents: Upload the required documents. Some providers may require notarized copies.

Step 3: Verification Process

After submission, the bank or service provider will review your application. This may take a few days to a couple of weeks. You may be asked for additional documents or clarifications during this stage.

Step 4: Deposit the Required Amount

Upon approval, you will receive account details to transfer the required amount (€11,208 or as specified). Make sure to transfer the exact amount to avoid complications. Some banks might charge a processing fee, so be prepared for additional costs.

Step 5: Confirmation

After the deposit is received and verified, you will get a confirmation letter or email. This document is essential for your visa application. Make sure to keep it safe.

Using the Blocked Account in Germany

Once you arrive in Germany, you will need to activate your blocked account. Here’s how:

  1. Visit a Local Branch: If you opened the account with a traditional bank like Deutsche Bank, you’ll need to visit a branch for activation.
  2. Complete KYC: Complete the Know Your Customer (KYC) process, which may include providing additional identification and residence proof.
  3. Receive Monthly Allowance: After activation, you will receive a monthly allowance from your blocked account. Ensure you manage this amount wisely to cover your living expenses.

Common Challenges and Solutions

Delays in Application Processing

Delays can occur due to incomplete documentation or high application volumes. To mitigate this, ensure all your documents are complete and accurate before submission. Opting for digital providers like Fintiba or Expatrio can also reduce processing times.

Transfer Issues

International transfers can sometimes face delays or additional fees. To avoid this, use a reliable transfer service and ensure you transfer the exact required amount. Contact your bank for any specific instructions regarding international transfers.

Activation Problems

Activating your account in Germany can be a hassle if you miss any documents. Make sure to carry all necessary documents, including your passport, visa, and proof of residence when visiting the bank.

Alternative Financial Proofs

While a blocked account is the most common method of proving financial stability, there are alternatives:

  • Formal Obligation Letter: A German resident can provide a formal obligation letter (Verpflichtungserklärung) stating they will cover your expenses.
  • Scholarship: If you have a scholarship, a confirmation letter stating the amount and duration can serve as proof.

Opening a blocked account is a pivotal step in your journey to Germany, ensuring you meet the financial requirements set by the authorities. By understanding the process, choosing the right service provider, and preparing all necessary documents, you can navigate this essential task with ease.

With the right preparation, the blocked account becomes not just a bureaucratic hurdle, but a stepping stone toward a new chapter in Germany.

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