Germany: Blocked bank accounts for students (Guide)

Students who need a visa to study in Germany may need to open a blocked bank account (“Sperrkonto”) into which they pay enough money for a year’s cost of living before they can get their student visa. Need to know more? Read on:

What is a blocked bank account in Germany?

When applying for a visa for Germany, a blocked bank account (or: “Sperrkonto”) is required by international students and job-seekers as proof of sufficient financial resources to cover their cost of living.

It is called a “blocked” account because an initial sum for a whole year is paid in, and then blocked, i.e. only 1/12 (one twelfth) can be paid out per month. It is also known as a limited-withdrawal bank account.

In 2024/2025, visa-seeking students must pay 11,904 euros into the blocked bank account. This is equal to 992 euros per month.

Certain types of visas may also require a 10% higher amount.

Who needs it?

If you need a visa or residence permit to study in Germany then you very likely need a blocked account to prove your financial resources.

Generally, that means that citizens of other countries in the EU and EEA do not need a blocked bank account to come to Germany for their studies.

How does it work?

In short: You open the blocked account - pay in the required amount for one year - and then every month, one twelfth of the amount can be paid out and used for living expenses. Usually, the monthly withdrawal will have to be transferred to another “normal” bank account with a German bank.

Over the whole year, your payout plan will look like this:

Blocked account payout plan	Amount you pay into the blocked account	Amount that must remain in the account
Before you apply for the visa	€11,904	€11,904
After 1 month	–	€10,912
After 2 months	–	€9,920
After 3 months	–	€8,928
After 4 months	–	€7,936
After 5 months	–	€6,944
After 6 months	–	€5,952
After 7 months	–	€4,960
After 8 months	–	€3,968
After 9 months	–	€2,976
After 10 months	–	€1,984
After 11 months	–	€992
After 12 months	–	€0

Where can students open a blocked account?

Blocked accounts are a very specific product and there are not that many providers offering it. The below is a selection:

• Coracle
• Expatrio
• Fintiba

Note that we do not endorse or explicitly recommend any of those providers. Please take care in deciding which one is the best for you.

How to open a blocked account step-by-step

1. Inquire with your local German embassy or consulate which type of blocked account and which required amount apply to you.
2. Choose a provider with which you want to open the blocked account, and start your application. With many providers you can do this online.
3. Once your account application has been processed and you have received the IBAN/BIC, transfer your money into the account.
4. You will then receive a confirmation statement from the provider which you need to present to the German embassy. You will then have to wait for them to finalise your visa application.

Costs for a blocked account in 2024

Blocked account providers charge money for their service. Some have multiple plans to choose from, but at the most basic level, you should expect to pay this much:

• Coracle: €99
• Expatrio: €129 (€69 setup + 12 x €5 monthly)
• Fintiba: €147.80 (€89 setup + 12 x €4.90 monthly)

Note that these fees are subject to change, and there may be additional surcharges not listed here. We strive to keep the list up-to-date.

Is 992 euros per month enough to live in Germany as a student?

The German Federal Foreign Office (Auswärtiges Amt) estimates the amount considered necessary to cover typical living expenses as a student.

992 euros per month is enough to get by in most university cities across the country, but it may be difficult in some places where accommodation is extremely expensive - like Munich or Hamburg. Your university in Germany should be able to give you some guidance on the actual cost of living that you should expect. (It’s possible to optionally transfer more money than the legal minimum into the blocked account.)

Is the money safe, or are there risks?

Blocked bank accounts that are offered by private financial institutions regulated by the German Federal Financial Supervisory Authority (BaFin) are generally considered safe. That said, there are always risks and there has been one case where a lesser-known account provider failed to pay out all funds to students in time.

Don’t just rely on a fancy website when picking a provider. Do some research:

• Check feedback on platforms like Google Reviews or Trustpilot.
• Ask the university if they can recommend a provider, or if they have experience with the one you prefer.
• Ask people who you know are studying or have studied in Germany which provider they would recommend.

Alternatives: Studying in Germany without a blocked account

While blocked accounts are the most common proof of financial resources, there are alternatives, for example:

• Scholarship: If you receive a scholarship from an institution in Germany or your home country, its amount can be deducted from the amount you have to prove through the blocked account - and if it’s higher, you may not need a blocked account at all.
• Letter of obligation (“Verpflichtungserklärung”): A family member or friend who already lives in Germany can declare to be financially responsible for you while you study in Germany.
• A financial guarantee by your parents or a bank.

Ask the embassy which options are relevant for you. In practice, though, a blocked account is almost always their preferred proof of financial resources.

 

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