Blocked Accounts in Germany: How To Open a Sperrkonto!

This page covers everything you need to know about opening a Blocked Account (Sperrkonto) in Germany. We look at what a Blocked Account is and why you might need it to secure a visa for Germany, as well as provide recommendations for how, when and why you should sign up for our favourite Sperrkonto provider.

 
 

If you are a non-EU citizen looking to move to Germany to study, train, au pair or search for employment, you will need to meet various visa requirements in order to live in Germany. While the requirements will vary depending on where you are from and where you are applying for your visa, you will always be required to show financial proof that you can sustain your life in Germany…

As proof, the German embassy/consulate or immigration office may request that you show the required funds in a Blocked Account, known as a Sperrkonto in German.


What is a Blocked Account in Germany?

As its name suggests, a Blocked Account is a bank account that blocks your funds while you are living in Germany. Rather than have access to all your funds at once, you will instead receive a monthly payment from your Blocked Account into a standard German bank account – you are then free to spend this monthly ‘allowance’ as you wish.

The purpose of a Blocked Account is to ensure that you always the necessary funds to sustain a suitable standard of life while living in Germany. Rather than blow all your cash in your first month in Germany, the staggered access to your blocked funds allows the German authorities to indirectly manage your money and ensure you are able to support yourself throughout your stay.

Who needs a Blocked Account in Germany?

The primary reason you might need a Blocked Account is to apply for and receive a visa or residence permit for Germany. Proving you can afford your life in Germany is a cornerstone of immigration to Germany, and a Sperrkonto is one method of satisfying the financial requirements set by the German immigration authorities

Most notably, the German Student Visa, German Language Visa, and German Job Seekers Visa often require that you have a Blocked Account in order to be approved, especially if you do not have other proof of financial support (scholarships, parental support, etc.).

How much money do I need in my Blocked Account?

The requested proof of funds for German visas and residence permits varies depending on where you are from and where you are applying so always check this with the German embassy, consulate or immigration office prior to submitting your application.

However, in general, you need €11,208 in a Blocked Account when applying for a visa for Germany, of which you will receive €934 per month over a 12-month period.

Which Blocked Account should I choose?

While your home country bank may offer their own Blocked Account, it is important to note that most German immigration authorities will only accept a Sperrkonto that is opened with a German bank.

With this in mind, and based on the experiences of our clients, our favourite German Blocked account is provided by Fintiba. We like Fintiba because:

  • It is a fully-licensed German bank
    As a German bank recognised by the German banking regulator BaFin, Fintiba’s Blocked Account is guaranteed to be approved by German embassies, consulates and immigration offices worldwide.

    As well as being approved the world over, Fintiba adheres to the highest security standards and your money is also protected by the German deposit protection fund (up to €100,000).

  • It has a quick and easy sign-up process

    You can open a Fintiba blocked account online in less than 10 minutes with just your passport. This process is a breeze compared to other German banks who require that you mail in original certified documents, a process that can take weeks.

  • It’s cheap to set up and maintain

    A Blocked Account with Fintiba costs €89 to set up and €4.90 a month to maintain. As far as we are aware, this is the best rate on the market, especially when considering the quality of service provided by Fintiba.

  • Intuitive app

    Fintiba allows you to manage your Blocked Account through their user-friendly and intuitive app. This ensures you have a full overview of your funds wherever you are.

If this sounds like the right choice of Blocked Account for you, then you can sign up with Fintiba via this link.

How to open a Blocked Account with Fintiba

Step 1: Register online and verify your identity

Step 2: Transfer the necessary funds to your Blocked Account

  • Once you have opened the Blocked Account, you then need to transfer the necessary funds. Make sure you double-check the required amount with the relevant German immigration authority where you will be applying for your visa.

Step 3: Receive blocking confirmation and apply for visa/residence permit for Germany

  • Once you transfer the necessary funds to your Blocked Account, you will automatically receive a blocking confirmation. Include this blocking confirmation in your visa/residence permit application.

Step 4: Move to Germany and open a local German bank account

  • Once you have received your visa and arrived in Germany, set up a local German bank account. Your monthly ‘allowance’ will be transferred to this local German account from your Blocked Account. With regards to local German bank accounts, we like N26 and bunq.

Step 5: Arrange payout from Blocked Account to local German bank account

At this stage, you are all set and can start focusing on what really matters; enjoying your new life in Germany!

We hope you have found this guide helpful and that it assists you with your relocation to Germany! For further info on life in Deutschland, check out our other blog posts and free relocation resources.

If you are specifically looking to move to Berlin, then explore our relocation guides and resources on our homepage.

Lana Zee