Blocked Account


Open your German Blocked account within minutes!

 
 

Application Process

1. Once I submit my information, how long does it take to open the account?

It takes maximum 24 hours. Usually within hours if the application is submitted on our office hours


2. How long does it take to issue the Blocked Amount confirmation letter?

It is issued as soon as the required funds reach the blocked account. Be aware that the transaction speed completely depends on the sender bank / remittance service provider. Usually takes around 3-5 working days. Via some online providers, it is faster. Sometimes via smaller local banks takes upto 7 working days.

3. How can I cancel the account?

Just write to us with your application ID. We will need proof of visa cancellation and in certain cases a self declaration.




Costs

1. How much does it cost me?

Just 99 Euros for upto 1 year. For the extension, 60 Euros / year


2. Is there any cancellation fee?

There is not additional fee for cancellation. If your visa is rejected, we will refund the processing fee as well. For rest of the situations, the paid initial fee is not refundable.


3. What is the buffer amount?

Your home bank or financial service provider take up a forex charge on the amount you transfer. So it is better to transfer a little more than the required blocked amount. We will transfer the rest of the buffer amount to your in our first transaction.

Accessing Funds

1. How will I access my blocked funds?

It is very easy with just two documents.

  • Photo of Immigration stamp showing entry date. This is needed to calculate the amount of first pay-out.
  • A current account (Girokonto) opening confirmation letter showing your name and IBAN of the account. Monthly pay-outs will be paid to this account.


Once details are verified, the pay-out will begin. Usually takes few days. In certain cases, can take upto 7 working days.


2. How will I update you my details once I reach Germany?

Simply upload the necessary documents online via https://www.coracle.de/blocked-account/application/user


3. In which bank should I open my Current Account?

You can open your current account (Girokonto) in any of the German banks of your choice. Many offer them for free for students. Commerzbank and Sparkasse are popular choices among students.

General

1. If I need any support, whom should I contact?

We are your single interface. We manage the entire communication and support for details like blocked account confirmation certificate, Visa document and any other clarifications.


2. Can the consulate verify the authenticity of the blocked account certificate?

Yes. German consulates and authorities will and shall check the authenticity and funds details online via a dedicated link given by us.


3.Who is Law firm Bransky?

Law firm Bransky is our partner law firm that oversees and manages the PostBank Blocked Account (escrow) in accordance with the German regulations.

4.Who is LemonWay?

LemonWay is our payment service provider who receives and routes your funds to your Blocked Account opened with Banco de Sabadell.