What is a Blocked Account?
A Blocked Account is a specific type of bank account designed for international students. The purpose is to demonstrate financial stability when applying for a visa. You can withdraw a specific amount of money per month which you can sepnd on your living in Germany.
But why do you have to prove your financial stability before coming to Germany?
The German government wants to make sure you can financially support yourself in Germany, meaning that you will be able to pay for things necessary for living like rent, food and insurance.
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IMPORTANT: New blocked account regulations
As of 1st September 2022, all foreign students planning to study in Germany must be prepared for an increased blocking account. This was decided and announced by the German government.
Previous yearly budget: 10,236€
Previous monthly withdrawal: 861€
New yearly budget: 11,172€
New monthly withdrawal: 931€
What does this mean for students who applied for a visa before the 1st of September or for students who are already in Germany?
Usually, this only applies to those who apply after the 1st of September. If you have applied or are in Germany already, nothing should change for you.
What does this mean for students applying for a visa after the 1st of September?
Students applying for a visa after the 1st of September should make sure that their blocked account balance has been increased and that this has also been confirmed. Otherwise, this could result in a delay of confirmation of the account, which in turn could affect the visa, and in the worst case, a denial of the visa.
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Some more information on blocked accounts
1. Organise yourself early enough and plan your time well. You should start the blocked account process at least two weeks before the visa appointment date.
2. Blocked accounts are designed for international students who wish to study in Germany. This means that it is important to prove that you have been accepted at a German university—for example by providing a university offer letter.
3. You don't need to worry about the money, because it will be safely stored at the bank until you arrive in Germany.
4. The blocked account cannot be closed just like that. To do this, you first need written confirmation from an authority, which in this case can also be the university. The blocked account will only be closed if the person is no longer able to fulfil the conditions of the blocked account. This could be a rejection of the visa, as well as a discontinuation of studies.
5. If you want to increase your monthly withdrawal limit, this is possible. You can increase it up to 1300 euros per month. For doing so, you have to contact the respective bank and they will then decide whether they will get an approval or not.
Fintiba - open a blocked account within 10 minutes as international student
What does Fintiba do?
Fintiba is a platform that makes it easier for foreign students to come to Germany. The most important processes are digitalised and therefore you save a lot of time when it comes to planning your studies in Germany. From health insurance for your visa and stay in Germany to opening a blocked account within 10 minutes, Fintiba offers you full support and security.
On Fintiba you can open a blocked account easily, quickly and securely.
- Officially recognised by the German Federal Office of Foreign Affairs
- Accepted worldwide
- Account opening in less than 10 minutes
- Highest security guarantee
- Save monthly fees in case of visa rejection
- Step-by-step guide through the Fintiba App process.
And much more.
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