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    If you are planning to study in Germany, one of the most important things on your checklist is the German blocked account, a mandate for your student visa. Since it is a lot of money, it’s often the last standing hurdle on your way to studying abroad. But why would you worry, when Team Coracle is here to help you out?

    The amount of money you need to invest might be intimidating, but having a complete picture of why you need a German blocked account can ensure that your mind is at peace about it.

    What is a blocked account?

    Let’s start with the basics. A German blocked account or a ‘Sperrkonto’ is a special bank account for students traveling to Germany for their studies proving that they have enough financial resources to sustain themselves in the country for at least one year.

    The blocked account is meant to be a security blanket for your stay in Germany while providing you with a steady stream of cash to cover your living expenses. If your studies last longer than a year, you might need to show the same amount of money in a blocked account again.

    However, if you have another means of proving your financial capability like a DAAD scholarship or sponsorship from a German resident, the blocked account is no longer necessary. However, it is the primary and most commonly used proof of finances for a majority of students like you.

    What are the regulations for the blocked account in 2023?

    The amount of money that needs to be deposited in the German blocked account changes with the changing economy. As the cost of living constantly goes up along with the fluctuating value of the euro, the German government adjusts the amount needed for your blocked account slightly to ensure that you will have enough money for your stay in the country.

    In the current situation, an international student traveling to Germany on a D-type National Visa needs to show a minimum amount of €11,208 in their blocked account during the application for their visa. The embassy needs to see at least this amount in your bank statement or blocked account confirmation. However, if you have more money in your blocked account, it can ease your residence permit (“Aufenthaltserlaubnis”) process in the future.

    How to open a German Blocked Account?

    Now that you know the basics, the next important step is understanding how you can go about opening your German blocked account. This process is fairly simple but requires a significant amount of research and understanding to select a blocked account provider that is reliable, fast, and uncomplicated.

    This simple 5-step process can get you the results that you are looking for in absolutely no time!

    Step 1: Research 

    The first important step is to research your options. Only a few blocked account providers are approved by the German Federal Foreign Office but based on your requirement and needs, you need to choose one that’s best- suited for you.

    Therefore, while you are doing your research, focus on 5 different parameters and choose based on how a service fairs on the most important criterion.


    1. The Overall Charges: 

    Most of the online blocked account service providers charge you a small fee when you open your account with them.  Generally, this fee consists of two different charges – the initial activation charge and a monthly charge. Based on which service you choose, you might need to pay the entire fee at once, or pay the initial fee and get your monthly charges taken out of your account.

    Coracle’s regular blocked account costs only €99, the cheapest in the market, without the hassle of a monthly fee. You pay a one-time, upfront, fee and no monthly charges ever. It’s a simple and transparent business model. 

    Given that you are depositing quite a lot of money at once, a higher overall charge might be an added blow. Moreover, a more expensive service doesn’t always ensure that you get a better product. So choose wisely when you make your decision.

    1. Ease Of Application: 

    Many students choose online German blocked account providers over traditional banks because of the simplicity of the process. When you pick a bank the process is often too complicated and time-consuming. THis also usually involved phyiscal trips ot the bank or a high cost to mail documents overseas. With this in mind, the smarter way is to choose a service that you can register for at home and see the results of in real-time.

    Coracle’s application is extremely easy and completely online. We require you to upload a few essential documents like your passport and acceptance letter along with a second ID document. The whole thing takes only minutes and you get your blocked account opening confirmation in less than 2 hours!

    1. Ease Of Funds Transfer:

    While this part is dependent on the applicant’s bank and their efficiency, service providers like Coracle might have partnerships that make it easy for you to send your money to your blocked account.

    Coracle, for instance, partners with RemitNow in India which makes it very easy for students to send their money to their blocked account easily within a couple of hours.

    1. Customer Support:

    Since you are trusting a company with a huge portion of your money, it is only fair that you receive the best of customer support during the process.  The best way to understand this is to look through their Google and Facebook Reviews and Ratings. Students like you are the most reliable source when it comes to understanding whether a company will be able to assist you with their best efforts or not.

    Look at us for reference! Our support team speaks over 10+ languages, responds to your queries in less than 2 hours and are available at the end of a quick email!

    You can read reviews on different blocked account providers on TrustPilot and Google Reviews. 

    1. Activation Process on Arrival:

    How easy or difficult it is for you to access your money on arrival is another factor to look into when you choose a blocked account provider. When you reach Germany, the process shouldn’t be too convoluted for you to get your first disbursement.

     At Coracle, we only need your current bank account (‘Girokonto’) details and your entry stamp to get you your first monthly amount for your usage!

    1. Prime Package Benefits

    Most of the online blocked account providers also have Prime Packages with extra features and benefits. As a client, you should be looking at whether they address the essentials you need. For example, health insurance and incoming travel insurance are often a part of most Prime Packages. 

    However, not all of the benefits will be worth your money. So, look for the things that really matter when starting off your new life in Germany.. Coracle’s Prime Uni package provides you with a choice of health insurance, free 180-days incoming health insurance, choice of current accounts and a lucrative 40 Euros discount!

    Step 2: Select

    Now that you have delved deep into every German blocked account provider available in the market, you must be well aware of every pro and con that each has. Based on your research, you can now pick the one that works the best for you. If you aren’t entirely sure about your choice, reach out to friends, current students in Germany or student communities in your university and seek out their opinions on what you should choose.

    Once you have made your pick, the process is seamless!

    Step 3: Fill in The Details

    If you have selected an online service provider like Coracle, your sign-up process shouldn’t take you more than 2 minutes to complete. All you need to do is fill in your personal, identification, and university details to get your blocked account or Prime package activated. 

    Once you have shared all your details, you can just click submit and wait for the teams to check your information and send you a confirmation with your blocked account details. The blocked account confirmation document should ideally have your IBAN and BIC which would make your next step a breeze. At Coracle, we make sure that your IBAN is a German one for easy transfer of funds!

    Step 4: Transfer Your Funds

    The next step is the most important. If you have your funds in place, you can initiate a transfer to your German-blocked account from any bank account in your home country. This part of the process and its agility rests completely on the sender bank and is both out of your as well as your blocked account provider’s control.

    In case you are using a traditional bank, international money transfers might take between a few hours to a couple of working days. So, don’t panic and wait for confirmation from your bank about the transfer. For speedier transfers, you can also use clients like RemitNow who can speed up the transfer process significantly.

    Learn more about different ways of money transfer to a Blocked Account here.

    Step 5: Get Your Confirmation

    After you have transferred your funds, the next step for you is to get all your other visa documents in place while your blocked account provider confirms the fund receipt and sends you a confirmation. This confirmation is essential for your visa application which you need to print out and carry with you for your appointment. 

    How To Activate Your Blocked Account?

    Your German blocked account process doesn’t end with just opening it. Since it is your means of subsistence, you need to activate it once you arrive in Germany. If you have chosen a service that has a simple and hassle-free approach to application, you will only need to go through a maximum of 3 steps to get your first disbursement!

    1. Register Your Local Address: Whether you are staying at a student dormitory or a shared apartment, you must register your address at the city office. You need to book an appointment and carry the Wohnungsgeberbestätigung (housing provider confirmation) form from your landlord and your passport to get your Meldebestätigung (registration confirmation). This document is key for opening your bank account as well as receiving your German Tax Number.
    2. Open A Current Bank Account: The next step in the process is to open a current bank account at a German bank of your choice. If you are going to a physical bank, such as Sparkasse or Commerzbank, you need to call them and book an appointment with an officer. You can then carry your ID documents, Meldebestätigung and your university documents on the day of the appointment and open your current account!

    If you choose online banks like N26 or Tomorrow, this entire process can be done online and without an appointment. The bank will verify your documents and open your bank account for you in the app itself.

    1. Link Your Current Account To Your Blocked Account: Now that you have your German current account’s IBAN and BIC, you simply need to go back to your German blocked account provider’s website and follow the instructions for sharing your details. Most require you to share your entry stamp to determine when you must receive your disbursement and your current account opening statement.

    From this point on, it should only take a few days for your first disbursement to show up in your account. You will receive your disbursement every month for one year till your blocked account funds are exhausted!

    Don’t Be Intimidated By The Blocked Account

    The regulation for the German blocked account is created for your benefit. It is to ensure that you will be able to enjoy your study abroad in Germany without stressing about finances for at least a year. Therefore, don’t get scared by the huge amount of monetary investment that is needed right at the beginning of your journey as a student in Germany.

    Your money will always be safe with a provider you choose and they are simply keeping it in a safe place for you to access once you arrive. Besides that, you can start looking for jobs after settling down so you can support yourself for the next year.

    So, if you want to get a blocked account that meets all your needs and has excellent customer service, visits us here!

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