What is a blocked account

Blocked account for foreign students

The blocked account for foreign students to finance their studies

If you come to Germany as a foreign student from a non-EU country or a non-EEA country, you must use the proof of finance to confirm that you can cover your living expenses in Germany for one year.

Proof of financial means is one of the most important prerequisites for receiving your student visa and your residence permit for Germany.

In this article we will show you how to set up a blocked account in Germany.

What is a blocked account?

The blocked account is aimed at foreign students and serves as proof of financial means for a stay in Germany. Proof of funds is one of the main criteria for the student visa. You have to show proof of this at the German Embassy when you apply for your visa in your home country.

The minimum amount and the monthly expenses are determined by BAföG (Federal Training Assistance Act). This is currently included 861 euros per month. The minimum amount you have to have to cover your living expenses in Germany for one year € 10,332 euros.

You haven't opened a blocked account yet? Most international students in Germany prefer Fintiba.

This account is a special bank account to which the owner has no access until his arrival in Germany (blocked account). Even after arrival, students cannot withdraw more than the minimum amount of 861 euros, unless a higher amount has been transferred to the account.

You will also need proof of finance to obtain your residence permit after you have arrived in Germany. You have to register with the immigration office in your city within the first three months.

How do I open a blocked account in Germany?

Opening a blocked account in Germany is easy. The process can be completed in a few steps:

Documents required to open the blocked account in Germany

The list of documents required depends on your nationality and the bank account provider you have chosen.

At Fintiba, for example, you only need an identity card or passport to register and create your personal account. It usually takes less than 10 minutes for your account to be ready to transfer.

At Deutsche Bank, you will need the following documents to open:

  • Application form
  • Valid passport
  • The letter of admission from your university
  • A banker's statement of your income
  • A prepaid fee

This article provides further information on opening a blocked account with both providers. But first see which provider offers more advantages.

Fintiba or Deutsche Bank? Which one should you choose?

In the following we have made a comparison between Fintiba and Deutsche Bank. This table is intended to show which problems foreign students have most frequently when opening up.

FintibaDeutsche Bank
How long does it take to open a blocked account?Less than 10 minutesUp to several weeks
Online registration available?YesNo
Opening fees89.00 €150.00 €
Monthly fees4.90 €5.90 €
How much can you withdraw per month?861 €861 €
Do I have to have my passport legalized at the embassy when I apply?NoYes
Fee for certification of documentsNo10-30 €
Can I open a blocked account even though I'm not yet 18?NoYes
Is there a chance of being rejected?Rather notYes
Speed ​​of response to questionsVery fastNot so fast
Digital process via an app with step-by-step instructionsYesNo

Which bank do international students choose most often for their blocked account?

Both providers have their own advantages and disadvantages. However, the majority of international students choose Fintiba over other providers, mainly because opening it is much easier, less time-consuming and because the account can be set up online. In fact, it takes a few minutes for your account to open and ready to be transferred.

Many students who have chosen other options and providers to open a blocked account report delays and inappropriate rejections as the biggest problems they have faced. For these reasons, many students lost their appointment and did not even submit their student visa applications.

In some cases, students have been turned down without being given a specific reason.

In addition, many international students struggled with security problems with other providers. Fintiba has proven to have very high security standards.

On the other hand, foreign students appreciate Fintiba for its flexibility. The entire application process is simple, online, no legalization is required at the German embassy and opening your blocked account only takes a few minutes on the Internet or in the mobile app.

Since you are depositing a large amount of money into an account that is locked for a certain period of time, it is extremely important that you open the bank account under your own name and that no third party is involved in the process. At Fintiba you get access to your personal account, which you can access via a web application. There you can manage everything online and easily yourself. No documents or confidential data may be sent to you by email.

How do I open a blocked account with Fintiba?

There are organizations that act as intermediaries between you and the bank. Your job is to make the whole process easier by making yourself self-employed and doing almost everything yourself.

One of these intermediaries that we recommend is Fintiba. Fintiba helps international students and other groups of foreigners who travel to Germany for various purposes. One of the many services offered is the opening of a blocked account for foreign students.

With these simple steps you can open your blocked account with Fintiba:

  • You must first register on the website.
  • Fill out the application form with your personal identification data. Make sure that you have properly completed the application form otherwise it will not be recognized.
  • You will then have access to your online platform, where you can manage all of the personal data in your account.
  • After you have received the account details, you can transfer the money and pay the opening fee that the bank will charge you.
  • Your application will then be processed.
  • As soon as the money has been transferred to the account, you will receive an email to confirm the opening of your account and the amount you have deposited.

After you've finally landed in Germany, Fintiba will help you open a normal bank account where you can transfer money from your blocked account every month. Note that you only need an ID or passport to register with Fintiba and open an account.

Depending on your passport and nationality, you may have to take an additional step that is the final legitimation in Germany.

The best thing about Fintiba is that you can do everything online and you don't have to send in original documents in the mail.

You haven't opened a blocked account yet? Most international students in Germany prefer Fintiba.

How do I open a blocked account with Deutsche Bank?

Until a few years ago, Deutsche Bank was the only way for foreign students to open a blocked account in Germany.

With these simple steps you can open your blocked account at Deutsche Bank:

  • Fill out the form with your personal information.
  • Print out two copies of the completed application form.
  • Make an appointment at the German embassy and make sure that you have the necessary documents.
  • The embassy will take care of the formalities of the legalization and send it to the bank in Germany.
  • Your application will then be processed.
  • The bank will then email you to confirm that your account is ready and include further details.
  • Transfer your money and pay the opening fee.
  • Finally, the bank confirms the balance.

As soon as Deutsche Bank receives your application, they will inform you when your account is ready to make a deposit. Once you have received the confirmation email, transfer the money to your account and then you can proceed with the student visa application.

When is the best time to open your blocked account in Germany?

It is not uncommon for foreign students to complain that the confirmation for the blocked account takes more time than it should normally take. Aside from the bureaucratic procedures that often make this process longer, the reason for this delay can also be the timing of your application.

There are times when banks receive a large number of applications from overseas students or are overwhelmed with their regular work. This can lead to a delay in opening.

The good thing is that German universities receive a large number of applications and cannot go through them at the same time. You can get a head start and be ahead of time in good time than other applicants who will later receive your notification of admission.

Therefore, we strongly recommend that you start the process as soon as you receive your letter of admission. By this point you should have decided on a provider to open your account so that you do not lose any time.

How long does it take to open a blocked account in Germany?

The time it takes to open a blocked account in Germany depends on factors such as nationality, bank provider, the work flow of the German embassy in your home country, paperwork, etc. If all goes well, your account should be created within a month from the day you submit your application.

For example, opening an account at Fintiba usually takes less than 10 minutes. Of course, missing documents can lead to long delays and even a permanent decline.

Can you withdraw money from your blocked account?

As soon as you have settled in at a registered address, you can withdraw money from your blocked account amount. Please note, however, that you do not have direct access to your account in Germany. The only way you can withdraw money is to open an international student bank account in Germany, where your blocked money will then be transferred every month.

Currently you can have a maximum€ 861 per month (sometimes up to € 735), unless you have deposited more funds than required. This amount of money will be transferred from your blocked account to your regular account (or international student bank account), from where you can then withdraw your money freely.

Frequently asked questions about the blocked account

Can I transfer more than EUR 10,332?

Yes you can. 10,332 euros is just the minimum amount you need to apply for your student visa. The Federal Government wants you to have the means to live in Germany for at least one year.

What happens if my application for a student visa in Germany is rejected?

If your visa application is rejected by the German embassy in your home country, you will receive a refund. Contact the blocked account provider personally or go to the German embassy in your home country and find out what you need to submit in order to get your money back. Please note, however, that the transfer fees are no longer refundable.

Do I have to indicate the source of the money when opening the blocked account?

Yes, you have to indicate the origin of your money. There are several ways to prove this.
The most common way to prove your financial resources is to submit a bank statement that reveals your deposits.

Is there an administration fee to open an account?

Yes, most providers charge you a one-off fee for opening the blocked account. Find out in advance what fee to expect.

Do I have to pay a fee for maintaining my blocked account?

Most providers also have monthly basic fees for maintaining the account.

Can a third party send the deposit on my behalf?

Yes, a third party can deposit the money on your behalf. However, you must first prove your identity. The provider may request authorization from you for that person or organization, a valid passport, and a bank receipt for the transfer.

Is the money safe in my blocked account?

Yes. The banking association in Germany is a participant in the deposit protection system, in which every Deutsche Bank guarantees deposit protection with up to 20% of your total capital.

Are there any exceptions for opening a blocked account?

A blocked account is just one way to prove that you have the financial means. The majority of international students choose this option for proof of funding. There are also other forms of proof of funding, but you must first find out which option you are entitled to at the German embassy in your home country. For example, you may have a relative who lives in Germany and guarantees that they will pay for your stay in Germany.

Can I speed up the procedure for opening a blocked account?

Unfortunately not. Even if you are short of time, the bank will not be able to proceed with your application any faster than usual. The speed of opening also depends on the provider.

Where do I register my address for my blocked account?

You can register your place of residence in Germany with the residents' registration office. You must register your address within two weeks of your arrival in Germany. The bank will need some information so that they can fill in more details about your personal account when you arrive in Germany.

You haven't opened a blocked account yet? Most international students in Germany prefer Fintiba.