For study visa and job-seeking purposes, opening a Block Account in Germany is needed. You cannot apply for the visa unless you have a Block account. In this post, we will explain how to open a block account in Germany online and which German bank is suitable for a block account. You may also require travel insurance and health insurance for your trip to Germany. You can get everything under one plan for a lower price.
The blocked account is necessary for a year when applying for a visa to Germany as proof of sufficient financial resources to pay their cost of living. Citizens of the EU and EEA do not require a blocked bank account to study in Germany.
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How to Open a Block Account in Germany
How much money is needed to open a blocked account in Germany?
As of 2024, you must deposit 11,208.00 euros into the restricted bank account for a one-year stay in Germany. This works out to 934 euros every month. You have a monthly withdrawal limit of 934 euros.
Which bank is best for blocked accounts in Germany?
Many banks offer online options for opening a block account. However, in this article, we will look at the two top providers for the blocked account.
- Coracle
- Fintiba
These are the two most popular banks among students for opening a block account. The German Federal Foreign Office has given its approval. All German embassies and consulates accept it.
Opening a Block Account in Coracle Bank
- Normal Block Account Price: 99 euros for one year. There is no monthly fee.
- Coracle Prime: a 3-for-1 deal. (Account Block, Health Insurance, Travel Insurance) It was only 59 Euros! There is no monthly cost. Take advantage of the Best Price Value.
priceapplying for a visa at the German Embassy, you must also have travel insurance. You will also require health insurance once you arrive in Germany.
So getting Coracle Prime at a lower cost is advantageous.
Required Documents for Coracle
- Admission offer letter
- Passport
Opening a Block Account Fintiba Bank
- Price of a Block Account: €147.80 (€89 setup + 12 x €4.90 monthly)
Required Documents to open an Account at Fintiba
- Valid Passport
Open Your Germany Blocked Account Online
The application process to open a Block account in Germany can be completed in a matter of hours. The entire procedure is carried out online.
- To open a Block Account at Fintiba use this link: https://www.fintiba.com/solutions/german-blocked-account/
- To open a Block account at Coracle use this link: https://www.coracle.de/blocked-account
- Follow the steps and open your account online.
How do you transfer Payment from Your Local Bank Account into a German Bank account?
You will receive your account data, such as IBAN/BIC, once you have successfully opened a block account and can access it.
You can then transfer funds from your local bank account to your German block account using a variety of internet services, including credit cards, online banking, and Net banking, or you can contact your bank for assistance.
The provider will subsequently provide you with a confirmation statement, which you must present to the German consulate.
Show Proof of finances to the German Embassy
The bank statement from the German bank account can then be downloaded. Show this statement as proof of financial funds at the German embassy when applying for a visa.
For what purpose can you use a block account?
The Block account is required for study visas and job seekers.
- Study Visa: For students
- Job Seeker Visa: Those who desire to move to Germany but do not have a job offer.
Conclusion:
Opening a block account in Germany is an important step for people who want to study or work there. This guide explains how it works, and how much it costs, and suggests banks like Coracle and Fintiba. People can easily meet the standards for a visa and get travel and health insurance in one package with online applications and all-inclusive plans like Coracle Prime.
Frequently Asked Questions:
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How much money is needed to open a blocked account in Germany?
Depending on the service provider, students may have to pay between 0 and 150 euros to obtain a blocked account. In terms of monthly charges, the German Blocked Account may cost you between 0 and 5 euros per month.
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How long does it take to get a blocked account in Germany?
The process of creating a barred account on Expatrio takes approximately ten minutes. It may take a few days to open the prohibited account straight through a Deutsche Bank local place. Opening the prohibited account through the German Consulate or Embassy may take several weeks, so apply as soon as possible!
