Understanding the Blocked Account for Studying in Germany

[Rajput Blog]

Introduction
Germany is a top destination for international students due to its high-quality education system and relatively low tuition fees. However, to study in Germany, most non-EU students need to prove they have sufficient financial resources to cover their living expenses. One of the most common ways to meet this requirement is through a blocked account (Sperrkonto). In this blog, we'll delve into what a blocked account is, how it works, and the steps you need to take to set one up.

What is a Blocked Account?
A blocked account is a special type of bank account designed for international students in Germany. It ensures that students have enough funds to support themselves during their stay. The account is "blocked" in the sense that you cannot withdraw the entire balance at once; instead, monthly withdrawals are limited to ensure you have a steady income throughout the year.

Why Do You Need a Blocked Account?
The German government requires proof of sufficient funds to issue a student visa. As of 2024, students need to show that they have at least €11,208 per year (or €934 per month) to cover living expenses. The blocked account serves as this proof, demonstrating to the authorities that you have the necessary financial resources.

How Does a Blocked Account Work?
Opening the Account: Before applying for your visa, you need to open a blocked account with a German bank or a certified provider. Several banks and financial services offer this, including Deutsche Bank, Fintiba, and Expatrio.

Depositing Funds: Once the account is opened, you must deposit the required amount (€11,208 for one year of study). This amount is then blocked and cannot be withdrawn all at once.

Monthly Withdrawals: After arriving in Germany, you can withdraw a monthly allowance, typically capped at €934. This ensures that you have a steady flow of money to cover your living expenses Best blocked account Germany.

Additional Expenses: If your living costs exceed the monthly withdrawal limit, you will need additional sources of funds. This is important to consider when planning your budget.

Steps to Open a Blocked Account
Choose a Provider: Research and choose a bank or financial service provider that offers blocked accounts. Popular providers include Deutsche Bank, Fintiba, and Expatrio.

Complete the Application: Fill out the application form, providing necessary details such as your passport number, university admission letter, and proof of residence.

Verify Your Identity: Depending on the provider, you may need to verify your identity via video call or at a local embassy/consulate.

Deposit Funds: Transfer the required amount (€11,208 or more) to your blocked account. Ensure that you account for any transfer fees to avoid shortfalls.

Receive Confirmation: Once the funds are received, the bank will issue a confirmation, which you need to submit with your visa application.

Accessing Funds: After arriving in Germany and registering your residence, you can activate your blocked account and start withdrawing your monthly allowance.

Tips for Managing Your Blocked Account
Plan Your Budget: Make a detailed budget to ensure that the monthly allowance covers your essential expenses such as rent, food, transportation, and health insurance.
Monitor Your Spending: Keep track of your expenses to avoid running out of funds before the end of the month.
Consider Additional Sources of Income: Part-time jobs and scholarships can supplement your income, but ensure you comply with visa regulations regarding work hours.

Conclusion
A blocked account is a crucial step in securing your student visa and ensuring financial stability during your studies in Germany. By understanding how it works and carefully managing your finances, you can focus on your academic and personal growth in one of Europe's most vibrant and diverse countries. Ensure to start the process early, follow the steps diligently, and plan your budget wisely for a smooth and successful experience studying in Germany.