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German Blocked Bank Account (Sperrkonto) – An Ultimate Guide

Chances are, if you have searched for the German Blocked Bank Account 2024 in the Google search engine, you are either a student, a freelancer, a businessperson, a parent, or just a newbie. In this blog, we have addressed all the fundamental questions regarding the GERMAN blocked account. so that you won’t end up making a big economic decision in your life and regretting it later on, as it is said, ‘’ignorance is never excused.”

Make it make sense: What is a GERMAN BLOCKED account? And do I really need one?

A German blocked account is just like any other bank account. However, the function differs. Contrary to a normal bank account, the blocked account is an assurance that you have enough financial resources to support your stay in Germany. Unless you have any other proof of financial resources for the coverage of your expenses. Whether you would need a German blocked account or not, one or not totally depends on the country you are a resident of! If you are someone from outside of the European Union (EU) or the European Economic Area (EEA), you need one.

Do I need to open a German-blocked Account in any Bank of my choice? When do I exactly need it?

No, you can only open the German blocked account in any of the designated bank accounts listed on the German Foreign Services website. You can either register and deposit online or you can visit the bank if they have facilities in your home country. Private companies (intermediaries) partnered with GERMAN banks are also eligible to provide blocked account services. A German-blocked account is needed when applying for GERMAN VISA as a proof of funding.

I am confused. How am I supposed to deposit such a big amount of money if I am just a student or a parent who is worried about the deposit?

As it is said, “The early bird catches the worm. You can definitely plan the total cost estimation of staying in Germany ahead of your time when you would be applying for visas.

What is the Cost Estimation of the Blocked Account?

As of 1 September 2024, the amount to be deposited has increased to €11,904 per year from the previous amount, and you can withdraw the amount of EUR 992 monthly. once you return to Germany. You can withdraw a monthly amount of EUR 992. The amount is adjusted regularly to reflect Germany’s minimum cost.

How to Activate my Blocked Account once I reach Germany?

It’s simple: after you have landed in Germany, grab a coffee, go to any German bank of your choice, and register a current account, or you can open a current account with intermediaries as well.

Take the proof of that current account, along with the proof of your residence, your passport, and your residence permit (even if you have just applied), take that to the respective authorities, and voila! You shall get your monthly EUR 992. You will also get a debit or credit card to access ATMs across EUROPE.

Are there any Hidden Charges? AM I GETTING SCAMMED HERE?

No, not at all. The banks only charge a fee between 50 and 150 EUR to process your application. The average expenses of your stay in Germany Include rent, food, health insurance, transportation costs, clothing, culture and sports, semester contribution (IF YOU ARE A STUDENT IN GERMANY STUDYING IN A STATE OR STATE-RECOGNIZED UNIVERSITY), energy bills, and other expenses.

What sort of Expenditures are Allowed on the Money Debited?

Germany has always been a sweet and affordable spot for people from all backgrounds and professions. It is not particularly expensive to live in Germany in comparison to other European countries.

What are other Financing Options Available?

A blocked account can’t be opened for more than 12 months; you either need a:

  • Scholarship(subsequently)
  • Any other financial means
  • However, it does depend upon individual cases as well, which are at the discretion of the German immigration office. If proof of funding is not enough or you were not able to get a residence permit for a year, you can extend your blocked account for another year or 6 months.

To support your study and stay.

I don’t have enough means to maintain a GERMAN Blocked Account; are there any other options available?

  • A fully funded scholarship from a recognized German educational institution ensuring a monthly stipend (GERMAN authorities need a confirmation letter from the university you have applied for the scholarship) (do check DAAD EPOS, DAAD MASTERS, DAAD Helmut Schmidt scholarships)
  • An approved loan from any German financial institution or any financial institution from your home country is approved by GERMAN authorities.
  • Any other approved government funding.

Do I have any other option for showing proof of funding?

  • Sponsorship from an employer
  • A sponsorship from someone you know or is your family

What is the procedure for AU-Pairs, job seekers, apprenticeship visas, foreign recognition of qualification visas, freelance visas, or people applying for visas for language acquisition?

  • If you are opting for Germany’s any long stay visa, either it is a visa for freelance employment (you can also check for our freelance in Germany guide) or a visa for self-employment, job seekers, apprenticeships, language acquisition, or recognition of foreign qualification, the procedure remains the same if you are someone outside from EU and EEA countries.

What documentation is required for opening a blocked bank account? Can you make it look easier?

Sure, take a day out, get a pen and paper, write down all the names of documents, institutions, and authorities, and try to get a hold of pronouncing them so when you are filing an application, you don’t look clueless. Regarding documents, all you need is

  • A copy of your passport
  • Admission letter from a German university
  • Recent passport-sized photos
  • Proof of origin of money (bank statements and financials, your own or your parents’)
  • ID card
  • Some banks require additional documentation.

Is Opting for a German visa a good economic decision?

That is at your discretion. Staying in Germany or any other country is a big economic decision. Make sure it aligns well with your future goals. Make sure you have estimated the total cost of staying in Germany. Always plan ahead.

How to Apply for a GERMAN-Blocked Bank Account?

A summary: of how to apply for a GERMAN-blocked bank account, if you are still confused about the process:

  • Open a Blocked Bank Account in Germany
  • Check with the German Embassy or Consulate on the required amount of money to transfer.
  • Open a blocked account with your chosen provider, either online or via an intermediary.
    Wait for the application to process.
  • Transfer money through a bank or international money transfer service/app, which takes 3-5 days.
  • Receive the confirmation document for a blocked bank account from the bank.
  • Wait for the visa to process after submitting the confirmation and other documents.
  • Apply for a German residence permit within three months of arrival in Germany.
  • Activate your blocked account, either directly at the bank or by uploading documents to the provider’s website.

Tips: Always go for discounts available.

For students, opt for any state or state-recognized university, as most of them are financed by the state.

Disclaimer: We have made sure to guide you guys on all the fundamental questions regarding the German Blocked Account, However, regarding any other update do visit the official German foreign official website