URGENT: This Is What Blocked Account In Germany Will Amount To From 2022!
Yana Immis
First and foremost, what is a Blocked Account? A mandatory account in the German bank, which you cannot open the German visa for studying without!
ATTENTION: as of 1st of September 2022, you need to apply for a visa with a higher sum. Make sure to check 💯if it impacts you.
Coracle - the best Blocked Account provider
New Blocked Account Regulation
As of 1st of September 2022, the German government has announced, that all foreign students considering moving to Germany for studies must have in mind an increased blocked account Balance. 11,172 Euro must be deposited to a blocked account in order to get the student visa.
Drawback: Initial financing required is extended (to keep in mind that 1st-year expenses are much higher than the next years, because of the university deposit, tuition fees as well as the accommodation deposit payments). Generally, when consulting students, I advice you schedule your expenses the following way:
Year 1: 30000 Euro for everything absolutely plus maintaining good social living standard
Year 2: 20000 Euro considering you would be doing internship and summer jobs for 90 days
Year 3: 10000 Euro considering you will be working or switching to part-time job already
Benefit: Monthly withdrawal capacity increases, which helps students to support their living expenses from one month to another.
The German authorities increase the amount required for a blocked bank account time after time in order to adjust it to the needs of students and living costs in Germany.
| New Yearly Budget | 11,172 Euro |
| New Monthly Withdrawal | 931 Euro |
| Old Yearly Budget | 10,236 Euro |
| Old Monthly Withdrawal | 861 Euro |
Students who applied for visa before 01.09.2022 or those who are already in Germany
The change is only applicable to later applications, however, to be on a safe side, since German embassies across the globe have already started requesting the updated amount, be cautious.
Solution: either add extra sum on your blocked account and request a confirmation; or put more money on your account for visa extension once you have arrived in Germany (prior to visa extension).
Students who apply for visa after 01.09.2022
Attention! Do not disregard this news putting yourself at risk!
Students with the old blocked sum may have:
Visa delay due to a request to resubmit the account confirmation
Visa denial
All these visa applications must have an increased blocked account balance confirmation.
Solution: transfer the difference between the new and the old blocked account sum (11172 – 10236 = 936 Euro) to your account and request an additional confirmation from a selected bank. Make sure to take a confirmation email or document with you to the appointment.
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Blocked Account Basics
A blocked account (Sperrkonto) is a unique type of a bank account designed for international students, who are required to provide proof of financial stability when applying for the visa. The German government wants to see a certain amount of money on your account to make sure you have sufficient means to live in Germany in circumstances you cannot influence. As an example, your sponsor (unless you pay for studies yourself) is no longer able to pay for your studies, living expenses, and accommodation.
German embassy can accept other proof of financial support, however, there is no guarantee it will be accepted for the visa procedure. It is highly recommended that you go for the blocked account as well. The more documents proving financial solvency you can present, the higher your chances of risk-free visa attainment become.
Things to keep in mind:
It is highly recommended starting the blocked account procedure at least 2 weeks (1 month) prior to your visa appointment date. The blocked account doesn’t require you to have an unconditional (final) offer letter and the opening/money transferring procedure can be done with a conditional (provisional) offer letter.
The blocked account may only be opened with a ‘Zweck’ (a reason). In your case, the reason is ‘Study Purposes’. This account can only be opened once you have been accepted to one of the German educational establishments.
You do not lose this sum and it is safely kept with the bank until your arrival. You will be granted access to withdraw a monthly allowance after the registration at the local residence authority in Germany.
The blocked account may only be closed if the beneficiary can no longer fulfill the reason for the blocked account opening (studies), in this case, it means a denial after conditional offer or denial in the visa. The blocked account may only be closed with the written confirmation from the authorities (University or the German embassy respectively).
Important: every time you apply for visa extension in Germany, the Immigration Office has a right to demand a confirmation you have a full amount securely saved on your account. It means, that you need to maintain this balance at any point of time and the funds must always be available. You do not have to withdraw monthly sums, but you have a right to do so.
Should you wish to extend your monthly withdrawal limit, it is possible, under certain circumstances (up to 1300 Euro per month). You need to consult your bank and ask for the permission with the confirmation that you are obliged to withdraw more than the limit (i.e. rent). The bank will decide if you would be granted a permission.
Still unsure which blocked account option to choose? Choose Coracle! (The best option for international students in 2020-2024)
Still having a lot of questions or doubts about the topic? Click on the button below to learn more about:
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