Where to open a German Blocked Account for international students and visas for Germany?- Everything you need to know

Where to open a German Blocked Account for international students and visas for Germany?- Everything you need to know

Are you going to study in Germany or migrate to Germany to find work and have come across a blocked account requirement? In this article, we will explain where to open a German Blocked Account for international students and visas for Germany, what a blocked account is, why you need one, and a comparison of some of the finest blocked accounts in Germany for you.

Where to open a German Blocked Account for international students
Where to open a German Blocked Account for international students

What exactly is a German Blocked Account for International Students?

If you are an international student from a non-EU or non-EEA country, you must provide proof of financial resources (Finanzierungsnachweis) to support your living expenses in Germany. While proof of financial resources is required to obtain your student visa and study permit.

A blocked bank account demonstrates that you can support yourself financially as an overseas student or job seeker. Since January 2021, the minimum German blocked account amount to apply for a visa was 10,332 euros per year, making your monthly limit 861 euros. However, this sum will be increased to 11,208 euros per year on January 1, 2023. This indicates the perceived amount required to pay the most basic living expenses in Germany.

Who requires opening a Blocked Bank Account?

If you are not from a European Union or Schengen Member State and are applying for one of the following German visas, you will require a blocked account in Germany:

    • Visa for students
    • Visa for Job Seekers
    • Visa for language learning
    • Visa for training or apprenticeship
    • Visa for the recognition of foreign credentials

Where to open a German Blocked Account for international students and visas for Germany?

Many overseas students are unclear about the best-blocked account for Germany. To begin, there are three official providers of blocked accounts: Expatrio, Coracle, Fintiba, Sparkasse, Kotak Mahindra Bank (India), and ICICI Bank (India). Many of you will be wondering how to open a German Blocked Account. Well, with these three German providers, you may immediately access your blocked account online and in English. We’ll do a comparison shortly.

If you are short on time and simply want an answer. Here are the greatest blocked account providers in Germany:


Expatrio is a new and innovative company that specializes in assisting students and job seekers in obtaining a German visa and relocating to Germany. It is inexpensive, simple to open, rapid money transfers in various local currencies, simple activation in Germany, most comprehensive User Portal with personalized extra products.

Advantages of Expatrio:-

      • Account opening confirmation within minutes
      • 49 euros set up fee per year
      • Value Package including health insurance, incoming insurance, and ISIC card Customer service response guarantee within 24 hours
      • Customer service via email, phone, and WeChat
      • Cancellation or extension of service monthly is conceivable.
      • Optional free checking account for withdrawals while in Germany
      • English, Chinese, and Korean versions of the website are accessible.

Disadvantages of Expatrio

      • You must pay a monthly service fee of 5 euros in advance.
      • You are not permitted to deposit more than 10.332 euros each year (governmental minimum)


Coracle was created in 2016 in Hamburg by two foreigners. It began as a health insurance broker before adding the blocked account to its portfolio in 2018. It is the cheapest option in Germany, with a simple opening and activation process. The platform and technologies are not as advanced as others, and a pleasant self-service experience, as well as additional offers, are lacking.

Advantages of Coracle

      • Account opening confirmation within 2 hours
      • There is no monthly cost.
      • Only 60 euros for a second-year extension
      • PRIME students receive a special set-up charge of just 59 euros.
      • PRIME offers health insurance as well as free incoming insurance.
      • Customer assistance is available in English, Spanish, and Russian by email, phone, and WhatsApp.
      • Money-back guarantee in the event of visa refusal
      • Cancellation or extension of service every month is conceivable.
      • You may deposit more than the required minimum of 10.332 euros every year.

Disadvantages of Coracle

      • Only Bachelor and Master students are eligible for the premium package of blocked accounts and health insurance.
      • 99 euros for a one-year setup charge


Fintiba is another new and all-digital platform that distinguishes itself from Expatrio and Coracle by providing the revolutionary Fintiba app. It is the most costly provider, with a simple opening procedure, and quick money transfers in various local currencies but complicated for some nationalities. It offers a simple activation process in Germany but is complicated for other nationalities, and an extensive User Portal with personalized supplementary offers.

Advantages of Fintiba

      • Fintiba Plus, includes health insurance, incoming insurance, and also an ISIC card 
      • 24-hour customer support response time 
      • Customer assistance through email, phone, and chat 
      • Monthly cancellation or extension available 
      • Fintiba app for convenient access 
      • The website is available in English, but you may also join up in Chinese and Spanish. 
      • Works with the German Sutor bank directly.

Disadvantages of Fintiba

      • Annual setup charge of 89 euros
      • While your account is open, there is a monthly service cost of 4,90 euros.


Deutsche Bank is one of Germany’s largest banks. It has a complicated process, it is the most expensive but has an easier process once you get to Germany.

Advantages of DeutscheBank

      • Easy steps for opening a blocked account after arriving in Germany
      • Only 6.90 euros as a monthly fee

Disadvantages of DeutscheBank

      • High processing fee
      • Have a more difficult process
      • No additional benefits
      • Not helpful in the visa application process as it can be made only after arriving in Germany


Sparkasse is a popular regional bank in Germany that provides overseas students with blocked bank accounts. Please keep in mind that Sparkasse is a name used by numerous regional banks in Germany, and the application procedure may differ depending on the location.

Advantages of Sparkasse

      • 24-hour customer support response time 
      • Customer assistance through email, phone, and chat 
      • The website is also available in English

Disadvantages of Sparkasse

      • No additional benefits
      • Can be opened only after reaching Germany

Kotak Mahindra (India)

Kotak Mahindra is an Indian bank that many Indian students use to transfer money to a blocked account. With Kotak’s German Blocked account, the applicant may open the account quickly and securely, and without having to pay any account opening fees.

Advantages of Kotak Mahindra (India)

      • In case of Visa rejection, close the A/C or avail the funds simply by submitting the rejection letter.
      • Nil charges for account opening.
      • Funds are maintained in India till you reach Germany

Disadvantages of Kotak Mahindra (India)

      • Has frequently caused major delays, costing students much in the overall university admission process.
      • Problem with rates fluctuation
      • No additional benefits

ICICI Bank (India)

ICICI Bank, a leading Indian private-sector bank. Only Indian citizens can open an ICICI-blocked account. You can use the funds in your Blocked Account as evidence of funds for your VISA application if you create a Blocked Account with ICICI Bank Germany.

Advantages of ICICI Bank (India)

      • Let you open your blocked account and a current account at the same time.
      • Customer assistance through email, phone, and chat  
      • The website is available in English
      • No further monthly subscription expenses.

Disadvantages of ICICI Bank (India)

      • Charge a higher setup price of €150
      • No additional benefits

How do I compare German Blocked Accounts for International Students?

If you are wondering which blocked account is best for Germany, then there are several variables to consider: Cost, Transfer of funds, Activation, Processing time, Health Insurance Possible, Incoming Insurance Possible, approved by the German Foreign Office, Available for Minors, German IBAN, Accepted by the Embassy, etc.

The specifics are provided below.

Factors to consider Expatrio Coracle Fintiba Deutsche Bank Sparkasse Kotak Mahindra (India) ICICI Bank (India)
Online application Yes Yes Yes No. You must apply via the German Embassy in your country. Yes Yes Yes
English Website & Support Yes Yes Yes NA Yes Yes Yes
Annual Fee (Set-up Fee) €49 from €59 €89 €150 The charge for creating a blocked account and extending it after it has expired is 150 euros. €150 processing fees
Extension fees €49 one-time and €5 monthly €60 one-time and no monthly fees €89 one-time and €4.9 monthly
Monthly Fee €5 No monthly fee €4.90 €6.90 No monthly fee
German IBAN Yes Yes Yes Yes Yes
Accepted by the Embassy Yes Yes Yes Yes Yes Maybe Yes
Processing time Less than 24 hours to open the account. To transfer money, it takes 3-5 days. About 24 hours to open the account. To transfer money, it takes 3-5 days. 10 minutes to open the account. To transfer money, it takes 3-5 days and gets the confirmation. One week in Germany. Several weeks via the German Embassy. About One-week. Overall processing time is 15 to 25 days. You will have to request to transfer the money from Kotak Mahindra to a German bank account after you enter. 2-3 days to open the account. To transfer money, it takes 3-5 days.
Deposit more money than required No Yes No
Money-back guarantee in case of visa rejection Yes Yes No In case of Visa rejection, close the A/C or avail the funds simply by submitting the rejection letter.
Available for Minors No Yes Yes
Health Insurance Possible Yes Yes Yes No No No
Travel health insurance Free for up to 92 days for university students. For Bachelor’s or Master’s students. Include in Coracle Prime for up to 6 months. Include in Fintiba Plus for up to 12 months No No No
Incoming Insurance Possible Yes Yes Yes No No No


Lastly, if you are a non-EU person wishing to travel to Germany on a student or job-seeker visa without a scholarship or sponsorship document confirming your financial means, a blocked account is required. A blocked account is one of the most important steps in acquiring a student visa in Germany. As a result, it’s critical to open as soon as feasible after receiving university approval. Opening a blocked account usually does not take long, although it is best to start early. However, if you have any questions concerning this paper, you can contact Howtoabroad.


Please keep in mind that this material is just for people wishing to create a blocked bank account in Germany. Based on our personal experience, internet reviews, and extensive research, we selected the top blocked bank accounts in Germany. We do not give a comprehensive market analysis. Please keep in mind that the information in this article is current as of the day it was published and is subject to change at any moment in the future.

Also, Read

How to Open a Blocked Account with Fintiba

How to Open a Blocked Account with Expatrio

How to Open a Blocked Account with ICICI Bank

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