Best Blocked Account In Germany? [2024 Guide]

Blocked accounts are very commonly used by students and jobseekers in Germany, so we have come up with an article that gives information about it. Read it to know the requirements, account opening process, charges, and other details.

Update: The BAföG’s monthly allowance is increased from €861 to €934 by The German government that tells how much monthly expenses is required by a student in Germany. All international students must have €11,208 instead of €10.332 for one year from 1 January 2023. 

Best Blocked Account – A Quick Overview

It is important to open a blocked account that ensures your ability to live in Germany financially. Here are the three blocked account providers where you can open your blocked account.

• Fintiba: Setup fee: 89 Euros and Monthly fee: 4.90 Euros
• Expatrio: Setup fee: 49 Euros and Monthly fee: 5 Euros
• Coracle:  Setup fee: 59 Euros and no monthly fee

Blocked Account Defined

Blocked account is a bank account necessary for students and job seekers in Germany. If you are looking for a German visa, you must open your blocked account and deposit the required amount in it that shows that you can meet the financial requirements of living in germany. Your blocked account sets a monthly allowance (an equal amount each month) through which the German government ensures that you are spending a reasonable amount of money at the start of your stay, and have money till the last months.

Required Amount of Money for A Blocked Account

Deposit a minimum of 11.208 Euros per year into your blocked account to apply for a visa that means you will have a monthly allowance of 934 Euros which is the required amount to live in Germany.

When Do You Need a Blocked Account?

For a non-EU citizen, a blocked account is required in the following cases.

• A student without any scholarship certificate
• A student from Australia, Israel, Canada, Japan, Republic of South Korea, New Zealand, Honduras, and United States of America
• A job seeker with a visa that permits you to stay and find a job in Germany for six months.

Exceptions

If you are moving to Germany on a work visa, tourism, or a blue card, you do not need to open a blocked account.

Best Blocked Account in Germany

Here are the best blocked account providers in Germany;

1. Fintiba
2. Expatrio
3. Coracle

Fintiba Blocked Account

Fintiba, founded in 2016, is providing the Fintiba app to open your blocked account digitally. Fintiba also offers many other services such as language learning, bank transfers as it is directly linked with the German Sutor Bank.

Account Opening Process

Follow the below steps to open your blocked account;

1. Visit the Fintiba official website and read the instructions.
2. Fill the application form.
3. Upload the required documents and verify your identity.
4. Submit your application and documents.
5. Your blocked account will be opened in 10 minutes.
6. Deposit the amount into your blocked account and activate your account.
7. Wait for the confirmation email that takes around 5 days.

Charges

Pay 89 Euros to open your blocked account at Fintiba. Monthly charges are 4.90 Euros.

Benefits

• Approved by German authorities.
• Open your bank account within 10 minutes.
• Availability of Fintiba mobile application.
• Website in English, Chinese, and Spanish.
• Directly connected to Sutor Bank.
• Deposit more than 11.208 Euros per year.

Expatrio Blocked Account

Expatrio was founded in 2017 and is ready to help expats in Germany. They offer different packages such as free travel insurance for 92 days, free ISIC card for students for a year, etc.

Account Opening Process

Here are the steps to open your Expatrio bank account.

1. Visit their official website.
2. Fill the application form.
3. Upload necessary documents.
4. Wait for the confirmation email.
5. Transfer the funds.
6. Your blocked account is activated.

Charges

Pay 49 euros initially to set up your block account. Later on you will pay a 5 Euros service fee each month.

Benefits

• Provides authenticity.
• Low setup and service fee.
• Good value packages.
• Money-back guarantee if your visa is rejected
• Website in English, Korean, or Chinese.

coracle blocked account

Coracle, founded in 2016, serves international students in Germany. They were health insurance brokers previously and became a blocked account provider in 2018. They offer their prime package to bachelor’s and master’s students that includes six months of free travel insurance and a reduced price for health insurance.

Account Opening Process

Here are the steps to open your Coracle bank account.

1. Visit their official website.
2. Fill the application form.
3. Upload necessary documents.
4. Wait for the confirmation email.
5. Transfer the funds.
6. Your blocked account is activated.

Charges

The cost of the prime package is 59€ and service charges for the blocked account are 99€ for 1 year.

Benefits

• Most economical because of no monthly fee.
• Officially approved blocked account provider.
• No deposit limit.
• The prime offer is specifically for students (bachelor and master).
• Money-back guarantee if your visa is rejected

Get Your Monthly Allowance From Blocked Account

Activate your blocked account once you reach Germany by providing details such as stamped visa, German checking account information, and German address. To open a Girokonto aka Simple bank account in germany.

Final Words

Each blocked account provider has its own benefits, charges, and features. Whatever provider you choose, do not forget to carefully think about your needs and make a final selection accordingly.

Frequently Asked Questions

1.) What to do if the application form is rejected?

Do not panic, check the reason for rejection and go through the form with keen attention. If there is any mistake, try to send them a correction request. Then check  your uploaded documents if they are all verified.

2.) What to do if the monthly allowance is not enough?

Visit the local immigration office and place an account release request. You will get an approval document if your request is approved. Submit an approval document to your bank and get access to the released amount.

3.) Can I access the money if I deposit more than the required funds?

Yes, you can withdraw whenever you need it.

4.) How can I know my account information?

All information related to your blocked account such as IBAN, blocked account, and bank ID code will be shared via email.

5.) In which language application form is available?

Application form is only available in English and German.