From October 2022, the amount required to be deposited in such an account when applying for a student visa to Germany is €11,208 or 934€ per month for your planned stay (up to 12 months). It’s a means for students to finance themselves throughout the first year of their studies. This amount will be blocked in the bank until the student’s arrival in Germany.
Once the student is in Germany, he or she will be able to withdraw a maximum of 934 Euros per month. They will be permitted to withdraw more money only in case they have transferred a higher amount than 11,208 euros to their blocked account.
Yes, a blocked account/ Sperrkonto is necessary, if you are a non-EU citizen and looking to move to Germany on a student or job-seeker visa, without having a scholarship or a sponsorship certificate proving your financial means.
If you plan to visit Germany as a tourist, you do not need a blocked account. Should you move to Germany on a work visa or with a Blue Card, you also don’t need a Sperrkonto account but should instead look into opening a checking account in Germany.
There are three official providers of blocked accounts in Germany: Expatrio, Coracle, and Fintiba. With these three German providers, you can easily open your account online and in English.
The Deutsche Bank used to also offer Sperrkonto Accounts, however, they discontinued their offer in July 2022.
Expatrio is a young and modern company founded by three Germans in Berlin in 2017. They specialize in helping students and job-seekers acquire their German visa and relocate to Germany. Next to English, their website is also available in Chinese and Korean. Expatrio has a very intuitive website design and offers many more benefits with its Value Package. Such benefits are free incoming travel insurance for up to 92 days and convenient sign-up for public health insurance with Techniker Krankenkasse, and a free ISIC student card for one year.
Expatrio has a very low set-up fee of 49 euros; however, they also charge a 5 euros monthly service fee, which you need to deposit in advance. So if you need a blocked account for 12 months, the blocked account with Expatrio will cost you 109 euros.
✅ Approved by the German Federal Foreign Office
✅ Blocked account with German IBAN and on your own name
✅ Account opening confirmation within minutes
✅ Only 49 euros set up fee per year (sometimes revoked as cash-back)
✅ Value Package including health insurance, incoming insurance, ISIC card
✅ Customer service response guarantee within 24 hours
✅ Customer service via email, phone, and WeChat
✅ Money-back guarantee in case of visa denial
✅ Monthly cancellation or extension possible
✅ Optional free checking account for payouts when in Germany
✅ Website available in English, Chinese and Korean
✅ How-to tutorials on their Youtube channel
⛔️ 5 euros monthly service fee you need to deposit in advance
⛔️ Not available for minors
⛔️ You can’t deposit more than 10.332 euros per year (governmental minimum)
Coracle completes the trio of young and driven German companies, thriving to help international students relocate to Germany. It was founded by two expats in 2016 in Hamburg. Coracle actually started as a health insurance broker and added the blocked account to their portfolio in 2018. Although their website is only available in English, their customer support also speaks Spanish and Russian. They pride themselves on their speedy responses.
The blocked account with Coracle has a set-up fee of 99 euros with no monthly fees. Suppose you are a Bachelor’s or Master’s student. In that case, you can benefit from their PRIME package, which includes the blocked account, free travel insurance for up to 6 months, and the simple sign-up to public health insurance for only 59 euros with no additional monthly fees.
✅ Approved by the German Federal Foreign Office
✅ Account opening confirmation within 2 hours
✅ Blocked account with German IBAN and on your own name (most nationalities)
✅ No monthly fee
✅ Only 60 euros fee for extension for a second year
✅ Special PRIME offer for BA & MA students of only 59 euros set-up fee
✅ PRIME offer includes health insurance and free incoming insurance
✅ Fast customer service in English, Spanish and Russian via email, phone, and WhatsApp
✅ Money-back guarantee in case of visa denial
✅ Monthly cancellation or extension possible
✅ You can deposit more than the minimum 10.332 euros per year
✅ Available for minors
⛔️ Prime package of blocked account and health insurance only available for Bachelor & Master students
⛔️ 99 euros set-up fee for 1 year
Fintiba is another young and all digital platform founded in 2016 in Frankfurt am Main. It sets itself apart from Expatrio and Coracle, by offering the innovative Fintiba app, with which you can open your blocked account, upload documents and manage your payouts once in Germany.
Next to the Fintiba Plus package of blocked account + health insurance with DAK + free travel insurance, Fintiba offers various other solutions such as Rent Deposit Guarantee, Fintiba Transfer, language learning offers, and a free ISIC card for three years.
✅ Approved by the German Federal Foreign Office
✅ Blocked account with German IBAN and on your own name
✅ Account opening in less than 10 minutes
✅ Fintiba Plus, including health insurance, incoming insurance, ISIC card
✅ 24 hours customer service response time
✅ Customer service via email, phone, and chat
✅ Monthly cancellation or extension possible
✅ Fintiba app for easy access
✅ You can deposit more than the minimum 10.332 euros per year
✅ Website available in English and sign-up also in Chinese and Spanish
✅ Works directly with the German Sutor bank
✅ Very active and informative Youtube Channel
✅ Available for minors
⛔️ 89 euros set-up fee per year
⛔️ 4,90 euros monthly service fee while your account is open
Once in Germany, you need to activate your blocked account. To do so, you need to provide your German address, your stamped visa and/or your university registration, and your German checking account information. Expatrio already offers to assist you with the checking account opening included in their Value Package. However, if you need or want to do this step by yourself, the mobile bank N26 is a great and easy choice.
N26 is the best option for any expat or student wishing to have uncomplicated, free, fast, all-digital banking in English.
Let’s summarize all the detailed information in this guide. If you think you are in need of a blocked account in Germany to relocate, these are the steps you should take:
